Lately, there’s been a typical false impression that Gen Z and millennials are basically the identical.
When corporations talk about reaching youthful audiences, many usually lump Gen Z and millennials into the identical group and create one marketing campaign technique that they consider matches each teams.
Positive, many millennials and Gen Zers are thought of “younger adults.” Each generations are extremely related to know-how and the web. It might sound efficient to run one marketing campaign aimed toward each generations, however is that this actually the best transfer?
To analyze, I made a decision to start out by letting customers weigh in on whether or not or not the identical advertising and marketing methods will interact each age teams.
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In a Lucid ballot, I requested 350 folks to inform me if, “The identical advertising and marketing techniques that persuade millennials additionally work on Gen Z,” was a real or false assertion. And in the event you suppose customers — the people who find themselves being marketed to by manufacturers — would sway a method or one other, you may be barely stunned by the outcomes under:
Information Supply: Lucid Software program
Though 56% of these polled thought the 2 generations may very well be marketed to the identical method, practically half disagreed.
As a marketer specializing in viewers progress, I sway with the 44% of people that suppose the identical techniques will not work on each teams — at the very least not ceaselessly.
However is both group of customers proper about their perceptions? On this weblog submit, I am going to share the chilly, onerous details researchers have found about generational similarities and variations between millennials and Gen Zers, whereas often weighing the uncooked knowledge in opposition to the best way on a regular basis customers understand the 2 generations. And in the event you’re in a pinch, leap straight to the information you want:
Millennials vs. Gen Z
In response to Pew Analysis Heart, these within the Millennial technology had been born between 1981 and 1996, whereas these in Gen Z had been born between 1997 and 2012. In 2023, millennials are between 27 and 42 years outdated, and Gen-Zers are between 11 and 26.
When you concentrate on the generational variations on the biggest doable scale, the oldest millennials are of their early 40s, could be settled down, and may very well be making bigger purchases like automobiles or properties. The youngest members of Gen Z are 11 years outdated, would possibly love youngsters’s exhibits, and will not be instantly making buying choices any time quickly.
Apart from the apparent age variations above, listed here are six extra elements that make these two generations essentially totally different.
Elements That Differentiate Millennials and Gen Z
1. They’ve totally different attitudes about know-how and cash.
Understanding the period an age group grows up in can assist you establish generational commonalities like motivations, spending or saving habits, or ache factors that all of them share.
Two issues that differentiated every technology’s childhood period included know-how and the economic system:
Expertise
The obvious distinction between the eras every technology was raised in is the presence of know-how. Millennials grew up utilizing DVD gamers, big private computer systems, cell telephones with tiny screens, and dial-up web. At the moment, we thought these applied sciences had been groundbreaking.
Now, most kids and youths inside Gen Z have entry to iPads, smartphones, infinite Wi-Fi, or streaming providers that put our prized DVD gamers to disgrace. Many members of this technology might need additionally grown up in households with early good dwelling know-how.
Whereas millennials watched innovation start, Gen Z was immersed in it from day one.
However though Gen Z by no means needed to know a time the place they did not have a cool gadget to unravel fundamental issues, the impression of know-how, the web, and social media has nonetheless taken a toll on the group.
Analysis exhibits that Gen Z — which has been known as the “socially-conscious technology — offers with way more physique picture, psychological well being, and cyberbullying points than every other age group has up to now. Consultants have additionally known as Gen Z the loneliest technology regardless of all of their digital connectivity choices.
Financial system
Millennials and Gen Z even have totally different attitudes round cash. Whereas they each care about their funds and put money into issues that may enhance their careers — like greater training.
Each generations are identified for bettering on monetary habits of previous generations, nonetheless, millennials put their cash into shopping for extra services or products that may give them a constructive expertise, whereas Gen Z is extra targeted on financial savings and sensible merchandise.
Millennials within the U.S. constructed up their very own funds shortly after the Recession, which resulted in 2009. For a few years up till 2019, regardless of monetary woes brought on by the poor economic system, rising dwelling prices, and excessive unemployment ranges, millennials remained optimistic about their future and funds. Nevertheless, some research state that millennials’ monetary optimism is dwindling as a result of post-pandemic inflation, recession, and market hunch prevalent in 2023.
Gen Z was born at the start of the financial downturn. Because the oldest members of Gen Z have entered maturity, analysis exhibits that their previous expertise of residing within the Recession are main them to make extra sensible spending choices.
In case you’re advertising and marketing to those generations, you may wish to keep in mind these attitudes about cash.
For instance, in order for you millennials to purchase your product, you may wish to concentrate on constructing a model that gives a nice or entertaining buyer expertise, in addition to advertising and marketing services or products that give on the spot gratification. In case you’re advertising and marketing to Gen Z, you may need your campaigns to obviously reveal how or why your product can be invaluable or sensible to them of their every day lives.
2. Gen Z is extra prone to make cell purchases.
By now, you would possibly know that each of those generations are closely related to the web and social media, Whereas millennials watched the web develop, Gen Z has used it since a really younger age.
Every day, millennials spend round 7.5 hours on-line whereas Gen Z surfs for practically 10 hours.
Each millennials and Gen Z additionally log on primarily with cell units, however a giant distinction between these generations is that Gen Z was virtually raised with smartphones. In response to YPULSE, 12 is the typical age Gen-Z obtained their first smartphone, 5 years youthful (on common) than millennials.
Supply: YPULSE
Gen Z’s mobile-first mindset additionally impacts how they store. Members of the technology are twice as prone to make a cell on-line buy than millennials. Nevertheless, millennials nonetheless do store loads on cell units. In truth, 71% say they do most of their on-line buying with a cell gadget.
Relating to on-line content material consumption, millennials and Gen Z spend most of their time watching movies and visiting social media websites.
In response to a latest examine, millennials watch on-line movies for 1.5 hours per day whereas Gen Z averages over three hours. In the meantime, each generations are thought to spend hours every day on social media.
When you might need already identified that cell optimization and video advertising and marketing are a key digital methods, these stats show that it will possibly enable you zone in on younger grownup generations. In case you actually wish to entice consideration from each Gen Z or millennials, you may wish to create cell movies, cell ecommerce websites, or different phone-based experiences that cater to them. You also needs to you’ll want to market your self on platforms that’re already cell, resembling main social media apps.
3. Each spend quite a lot of time on social media, however the platforms they use are fairly totally different.
To grasp how folks perceived every technology’s social media utilization, I requested the identical group of 350 folks famous within the Lucid ballot above to weigh in on which group they thought spent extra time on social media. This is what they mentioned:
Information Supply: Lucid Software program
The ballot outcomes above had been pretty cut up between millennials and Gen Z. Nevertheless, 27% of members say each generations are “at all times logged on.”
So, who’s truly probably the most tuned in to social media? Let’s examine what research on these teams reveal.
The World Financial Discussion board stories that millennials are logged on to social media for a mean of two hours and 38 minutes every day whereas Gen Z logs on for greater than 4 hours every day.
Apart from the time spent on social media per day, the platforms every technology makes use of are additionally barely totally different.
Whereas my technology thrived on MySpace and Tumblr and now enjoys platforms like Fb, Instagram, LinkedIn, and Twitter, Gen Z has zoned in on video-based platforms like Instagram, YouTube, Snapchat, and — extra not too long ago — TikTok.
A latest Enterprise Insider survey that polled the oldest half of Gen Z discovered that members used Instagram, YouTube, and Snapchat most frequently.
Though TikTok appeared much less common within the Enterprise Insider survey, this one-year-old platform is without doubt one of the fastest-growing social media apps as a result of booming international Gen Z customers.
Gen Z and millennials do have a couple of social platform preferences in widespread. One, for instance, is Instagram. Whereas Instagram is older and extra established than apps like TikTok or Snapchat, it is also pulled in millennials and video-loving Gen Z members.
YouTube can also be a social community that each generations are prominently utilizing. Whereas YouTube was launched when most millennials had been youngsters, 96% of Gen Z customers have accounts on the video-sharing platform. The video platform can also be the second-most used search engine and a platform the place many in Gen Z and millennial generations go for product analysis, as 57% of YouTube’s viewers consists solely of the 2 generations.
4. Millennials take note of adverts for an extended period of time.
Every technology’s habits align effectively with its common consideration span on the subject of content material consumption.
Whereas millennials will take note of content material for 12 seconds, Gen Z will solely concentrate on it for eight seconds. Moreover, Gen Z enjoys fast or short-form video content material, like that of Snapchat or Instagram Tales, whereas millennials worth long-form content material, resembling detailed movies or podcasts.
Which means that these promoting or advertising and marketing to millennials can get away with barely longer or extra in-depth content material whereas these advertising and marketing to Gen Z will wish to get their worth proposition out as rapidly and seamlessly as doable of their campaigns.
As I’ve talked about above, most of right this moment’s social and on-line platforms have gotten extra video-driven. This mirrors the truth that video utilization is rising rapidly amongst each generations.
Whether or not you are creating long-form content material for millennials or short-form clips for Gen Z, you may wish to embrace mobile-optimized video when selling your model to both viewers.
Branded Content material
With regards to studying about manufacturers or merchandise on social media, every technology additionally has its personal distinctive preferences. For instance, Gen Z prefers to study merchandise via social media-based movies and influencer advertising and marketing, whereas millennials will reply to quite a lot of promotional methods together with extra conventional on-line adverts, social media advertising and marketing, and branded podcasts.
Moreover, a latest survey exhibits that 87% of Gen Z prefers adverts or advertising and marketing content material that exhibits precise folks discussing merchandise. With regards to millennials, solely 37% choose to see folks discussing merchandise in adverts or advertising and marketing content material.
Apart from embracing video and cell optimization, in the event you’re advertising and marketing to Gen Z, you may additionally wish to concentrate on content material that feels extra informative and fewer like an advert. This technology has actively rejected conventional promoting techniques. For instance, 84% of Gen Z will skip video adverts as rapidly as doable, whereas 65% have downloaded some sort of ad-blocker on their cell units or computer systems.
5. Each generations buy lower than previous generations.
A typical fable about millennials and Gen Z is that each generations are financially illiterate. As a result of this appears to be a sizzling subject on-line and all through popular culture, I carried out yet another Lucid ballot, asking the identical group famous above to decide on which technology they thought spent extra money on merchandise.
The Lucid ballot under demonstrates this fable and notion as many members mentioned that they believed each technology spend some huge cash:
Information Supply: Lucid Software program
Moreover, 36% of survey respondents mentioned millennials spent probably the most on merchandise, whereas the identical share mentioned each generations spend some huge cash. Nevertheless, lower than 20% pointed to Gen Z.
In response to numerous research, each generations truly spend lower than previous generations whereas the oldest Gen Z members are targeted on accountable spending.
Most of Gen Z does not even have a lot shopping for energy but. However analysis from a number of sources, together with Vice, Insider, and Adobe say that Gen Z goals to spend cash pragmatically as in comparison with different generations. Some analysts recommend that Gen Z’s saving method is routed in budgeting classes that the technology discovered from the U.S. Recession.
With regards to the Gen Z members who’re sufficiently old to make purchases, analysis exhibits that they do much less on-line buying than millennials. A latest examine from Ernst & Younger famous that 74% of millennials and solely 49% of Gen Z purchase merchandise on-line greater than as soon as a month.
However, whereas Gen Z buys much less on-line, they count on extra added service from a model after they make purchases. The identical E&Y examine discovered that 80% of Gen Z valued free supply. The examine additionally discovered that 74% of Gen Z values manufacturers that give out reductions or coupons over different companies.
Whereas millennials are barely much less frugal than Gen Z, the concept the older technology is extra frivolous can also be an enormous false impression. Whereas many millennials purchase their justifiable share of merchandise, additionally they earn extra yearly than most older generations, are probably the most educated age group, and are notably optimistic about their futures.
6. They’ve totally different profession motivations.
Each generations have in widespread that they’ve positioned significance on investing at school or expertise coaching.
Whereas older generations might afford each properties and training, millennials discover housing out of monetary attain and have primarily targeted on paying excessive prices of tuition.
Regardless of rising academic prices, the pattern of investing in training is not anticipated to vary for both technology. Whereas 10% of Gen Z teenagers are saving for school, millennial dad and mom are placing extra into their youngsters’s school funds than previous generations.
every technology’s work habits may give you a sneak peek into what their funds and every day motivations could be sooner or later.
Whereas each millennials and Gen Z are pushed by greater training and profession progress, they nonetheless have a couple of slight variations that you simply would possibly wish to find out about, particularly in the event you’re a marketer in educational or B2B fields.
As we speak, many millennials are working or are enrolled in greater training. For your entire decade between 2020 and 2030, millennials will comprise the biggest share of the workforce, representing 40% of the worldwide working-age inhabitants by 2030.
However, though most of Gen Z remains to be at school, they’re additionally very career-minded.
With regards to in search of jobs, Gen Z adults are extra financially motivated than the millennial technology. In truth, 65% of Gen Z staff worth wage over different job perks as 74% 2023 US graduates surveyed mentioned they prioritize stability and wage from employers, outweighing elements together with a identified employer model, a fast-growing subject, or total advantages. These within the age group additionally say they will put money into ability coaching if it means they make more cash.
Gen Z additionally applies for jobs extra aggressively than previous generations. Solely 10% of the technology begins their job search after school whereas most Gen Z college students start scouting out job choices between freshman and sophomore yr.
So, what does this imply to your advertising and marketing technique? Each of those generations are onerous staff, extremely educated, and would possibly earn greater than previous generations.
Nevertheless, Gen Z is extra pushed to make and get monetary savings. Which means that to influence Gen Z, you would possibly have to take further time to brainstorm campaigns that present how your product will assist them and why it’s price their cash. Odds are, they are going to be extra persuaded by the practicality of a product than the “trendiness” of it.
How one can Market to Every Technology
Sure, each generations have quite a lot of issues in widespread.
And whereas there are alternatives to market to each generations directly, it could be extra helpful to brainstorm inventive campaigns that zone in on one technology or the opposite. That will help you develop a technique that positive aspects consideration from the suitable viewers, listed here are a couple of takeaways associated to every technology:
Advertising Marketing campaign for Millennials
By now, you could be most acquainted with advertising and marketing to millennials. Fortunately, they’re additionally a fantastic technology to market to. They’re on probably the most outstanding social media networks right this moment and like to devour a number of totally different types of multimedia content material, from movies to podcasts. They’re additionally sufficiently old to make buying choices, are extra educated than earlier generations, and spend appreciable time within the analysis stage earlier than shopping for a product.
Basically, many alternative codecs of promoting content material will interact millennials as a result of they’re frequently trying to be enticed by a brand new product that may assist them of their every day lives.
As a result of millennials have a barely longer consideration span than Gen Z, you may as well get a bit extra inventive by testing out longer-form content material like longer advertising and marketing movies or branded podcasts.
One of the best forms of advertising and marketing campaigns will inform millennials about how your product could make their lives simpler or the way it can resolve their day-to-day issues. Focusing your technique on social media or on-line platforms like Fb, YouTube or Instagram, the place many adults go to analysis merchandise may also be helpful to your technique,
Advertising Marketing campaign for Gen Z
To efficiently persuade Gen Z to purchase your product, you may wish to make content material that rapidly cuts to the chase and explains why your product will present worth to them.
As talked about above, Gen Z loves to make use of video to study merchandise and spends most of their on-line time on cell phones. So you’ll want to leverage short-form video formatting and mobile-optimized content material in your campaigns.
You will additionally wish to zone in on the area of interest social media platforms that they generally use, resembling Instagram, YouTube, TikTok on Snapchat. In case you’re not on considered one of these platforms, however nonetheless wish to achieve model consciousness there, take into account sponsoring an influencer who is aware of the viewers and create content material that discusses your product.
Advertising Marketing campaign for Gen Z and Millennials
In case you completely cannot funds pinpointed campaigns for millennials and Gen Z, however know you wish to market to younger adults, concentrate on the cusp of each generations by making a marketing campaign for 18 to 34-year-olds. This can can help you zone in on younger and barely older adults that may truly make buying choices.
Whereas a marketing campaign with this age goal could be barely extra favorable to millennials between 27 and 42, there’s nonetheless an opportunity you may seize consideration from older youngsters who will quickly be capable of make extra purchases if they cannot already.
Regardless of the variations between these two generations, there are additionally two large similarities: each love social media and on the spot gratification. Make sure that your marketing campaign clearly explains why your product can be invaluable to the age group you are pitching it too, and leverage the social media networks that the age group you are focusing on has in widespread.
For instance, in the event you’re targeted on selling your product to folks within the 18 to 34 vary, you may wish to be on Instagram, YouTube, and Fb, as a result of most members of this age group are utilizing all three of them frequently.
In case you can create a marketing campaign that leverages key social networks accordingly whereas highlighting why your product is so immediately gratifying and helpful, you would possibly entice curiosity from each teams pretty rapidly.
Ideas for Realizing Your Viewers
As you create campaigns round a selected viewers or age group, it is necessary to do digging to study what motivates this group of individuals, what their buying habits are, the place they spend probably the most time, and what they’re in search of in a product. Listed below are a couple of ideas that may enable you on this analysis:
- Determine particular demographics: Strive to not be too particular or too broad. Decide an viewers you’ll be able to study loads about rapidly that effectively aligns along with your product and begin researching that demographic.
- Find out about their work and training backgrounds: This provides you with perception on what motivates them and the way a lot they’re capable of spend on a product.
- Discover out which social platforms they use: When you do that, you’ll be able to analysis every platform and leverage it appropriately throughout your marketing campaign.
- Contemplate writing a purchaser persona: A purchaser persona is a fictional character that has a really comparable life-style to your splendid purchaser. Having a persona in thoughts can assist you rapidly take into consideration campaigns and methods that they will interact most with. It is also a helpful place to arrange your entire detailed analysis findings into one easy place.
Wish to study extra about Gen Z or millennials particularly? Take a look at this weblog submit on advertising and marketing to Gen Z or this piece on millennial advertising and marketing.
Editor’s word: This text was initially printed in December 2019 and has since been up to date for comprehensiveness.
