Move Over Millennials. Is Your Social Enterprise Ready To Engage Generation-Z?
Generation Z (those born from 1992-2000) now make up almost 30% of Singapore’s resident population. In ten years’ time, Gen Z will outnumber millennials, making up about 40% of the total global population. They are already an influential consumer group with $USD 44 billion in purchasing power in the US alone.
Like their peers around the world, Gen Zs are more educated, tech-savvy and highly connected than any previous generation. There is also a clear intersection between Gen Z and the growing trend in social responsibility and social impact.
Any brands hoping to thrive in today’s market should be reaching out to and engaging this generation. But how do you target these savvy consumers and is it based solely around the use of a digital-centered strategy?
Digitally connected but human centered
Gen Zs grew up in a world of technology and use it as part of their everyday lives, but that doesn’t mean they don’t value the traditional human connected transactions. It is precisely because of the noise they receive online that they find comfort in human connections when making bigger decisions around life and career.
Instead of talking at your Gen Z audience, talk with them instead. Go beyond digital and invest in interactions. Work on creating two-way relationships. Enterprises need to look deeper into their customer’s decision making process, find out where the Gen Zs are and meet them there - this can include both online and offline activations.
Authenticity goes a long way. Be clear about their role in the impact chain.
Giving back is on the rise and Gen Zs are likely to continue to give back to society on a regular basis throughout their life. While this is great news for social enterprises looking to engage with this generation, Gen Zs now also have quick accessibility to your organisation’s history vs generations before them. They are able to easily research and gather the true story behind your brand.
The newest generation wants to be connected with companies just like they would with friends and are quick to dismiss brands when they feel a mismatch. Be relatable, authentic and real. Always show them who you really are and highlight the faces behind your brand. It is important to keep the messaging of impact created clear to ensure sustained loyalty.
Interested in finding out how your business can engage the emerging generation of leaders in your workplace? Find out more in the“Generation Z in Singapore” Report by A Very Good Company.