After three parts of our four part Marketing to Millennials series, we’ve covered the ins and outs of who Millennials are, how they got to be that way and how to market to them effectively. Currently the largest generation in the country, they’re role in the economic landscape has grown tremendously and demands the attention of marketers. But this isn’t a passing trend: Millennials are here to stay, and there’s another generation coming right behind them. And this underscores the importance of properly marketing to them.
Consider the way the generations represent overall population. As the large demographic that is the Baby Boomers ages and leaves the workforce, its members will play a less active role in the marketplace. Millennials and Generation Z, the generation immediately following them, will make up over half of the total workforce and consumer base in America within a decade or even just a few years.
This means the marketing skills marketers develop now will be necessary through the coming decades. Keeping marketing and business interactions efficient, integrating necessary technology as it becomes viable for wider use, and marketing with an authentic cause and purpose won’t just be “marketing tactics” in a few years; they’ll be the standard marketing practices used across all industries.
And Generation Z will ensure this is the case. This is a generation that doesn’t know life without smartphones, let alone the internet. Generation Z is inspired by the same social causes as Millennials, growing up as they have in a diverse, multicultural world. They’re tremendously accepting of others, and tremendously adept with technology. They’re the hype-technical kids of Generation X, possessing the values of their Millennial older siblings and the independent spirit of their Gen X parents.
Simply put, many of the marketing “trends” that have arisen to market to Millennials will be cemented by Gen Z. So companies should be transitioning now into their best, modernized, Millennial and Gen-Z ready selves. Now is the time to assess your available software and technology, and modernize it for efficiency and ease-of-use for customers. Companies interested in retaining a viable marketing presence through the coming decades will need to be fine-tuned not just for employment of technology but for growth of technology as well. Remember, most Millennials and members of Gen-Z are more than just comfortable with technology: They’re comfortable with changing technology.
It’s also time to consider what your company can do to shoulder some of the burdens regarding social issues that younger generations champion. You don’t have to pick a contentious or politically charged issue to support, either. Businesses can adopt a forward-thinking mentality around things like supply-chain dynamics, employee welfare or recycling/responsible consumption. All of these issues are approachable, non-contentious issues that businesses can adopt as policies of concern; this will help increase the viability of the business through greater efficiency and increased returns through further Millennial and Gen-Z engagement. Now is the time to build the foundation for your business’s future, and follow Millennials and Gen-Z into growth and profits in the coming decade.