Generational Marketing: Gen Z vs Millennials and Ideas for Your Marketing Strategy
By: Sabrina Tatalias
Does your marketing strategy include messaging and tactics especially for Gen Z or Millennials? If not, read on.
Picture this, a 2019 study by BCG, found that incorporating more curated levels of personalization online increases the chances that consumers will promote a brand and can significantly boost revenue — in some cases by 10%. This ties very closely to the importance of generational marketing in the sense of how more tailored marketing efforts will result in bigger returns.
There is a lot of helpful information we can gather from better understanding generational differences. This is due to how this can aid in how we market and promote our organization’s offerings and products, and who wouldn’t want that? Something else to note about generational marketing is how it is essential if you are trying to tailor your marketing efforts to both a split audience of Millennials and Gen Z in order to better understand what differentiates the two.
Before we dive into some of the major similarities and differences between the two generations, and some marketing suggestions; we need to go over what our classification of each generation is.
A Millennial is defined as those born anytime between 1984–1996.
A member of Generation Z is defined as those born anytime between 1997–2015.
The fun part about generational research is how we are constantly finding out new information and findings on different generations as they mature over time, along with new generations emerging. On that note, get ready to dive into the realm of generational insights to leverage for your marketing efforts.
The Importance of Understanding Generations From a Marketing Perspective
Generational marketing in a nutshell is creating and implementing a specific marketing strategy targeting to set generations. A generation is described as a subset of the…