Cool is Currency: How to Market Paid Services to the Freemium Generation

elijah-o-donell-663102-unsplashGen Z, I-Gen, Post-Millennials. Whatever you may call them, there is no denying they are important and they are powerful. In just a few short years, these individuals will account for 40% of the global population and will have close to $600 billion in spending power. (B2C)

So what sets Gen Z apart? What makes them tick?

  • They are always on their phone and tend to be using multiple devices at the same time.
  • Gen Z is the very first generation to be considered true digital natives because they have never experienced a time without digital technology.
  • Traditional marketing practices are ineffective as members of Gen Z have an average attention span of 8 seconds (Forbes)
  • Gen Z trusts “the advice of friends, even strangers, more than authority figures, organizations, and brands on social media.”(HBR)

This generation is also not interested in paying for what they can access at no charge. It is important to remember these individuals have the ability to access almost anything online for free. Now that doesn’t mean Gen Z isn’t spending money, because they are, but their money is being spent on experiences.

This generation is always on the hunt for unique, personalized experiences they can share on social media, especially on Snapchat stories and Instagram pages. In fact, Gen Z is so concerned with how they appear on these platforms, you can almost hear them asking, “If it’s not on Insta, did it really even happen”?

Now before you go thinking that Gen Z only cares about themselves, you should know that in addition to being the “Me” generation, they’re also one of the most socially conscious generations in history. A study by Sparks and Honey indicated that 26% of Gen Z ages 16-19 volunteer regularly.

So, how can you get their attention and ultimately win their business? The answer is surprisingly simple; give them what they want, on the platforms they use the most, and don’t wait until they are financially independent.

Here are other ways you can attract and retain Gen Z.

  • Don’t just sell a product, take a stance on social issues relevant to them.
  • Don’t force your message/product.
  • Engage Gen Z with user generated content/make it personal.
  • Use real people. Gen Z loves Influencers
  • Hire a member of Gen Z. They will keep your ideas and you, young.
  • Be honest. Gen Z can spot a fake a mile away.
  • Tailor your content to mobile/digital. 80% of Gen Z is multi-screening.

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