Content is the engine that drives today’s digital ecosystem. Whether it is a website, blog, social media channel or even e-commerce, you have to have the right content. And for 26% of Gen Z consumers, you will do better if you entertain them.
The data comes from an international study commissioned by WP Engine and conducted by The Center for Generational Kinetics. And it explores the relationship Gen Z has with digital technology by looking at three specific aspects: being online, buying online, and building online.
The Gen Z demographic were born between 1996-2010, and understanding how they interact online is of great importance for businesses of any size.
For small businesses, this understanding will make it easier to interact and market to this group. This is especially important as they continue to control a larger percentage of the purchasing power in the market place.
Mary Ellen Dugan, Chief Marketing Officer at WP Engine, emphasized this very point in the press release of the report. Dugan said, “Gen Z is well on its way to becoming the largest generation of consumers by the year 2020.”
Adding, “This will have profound implications for marketers and brands who, to effectively engage Gen Z, must embrace new technologies, experiment with new forms of communication and internalize the nuances in how Gen Z seamlessly blends the analog and digital worlds.”
The study was conducted with the participation of 1,258 respondents in the US, ages 14-59 who use a smartphone on a regular basis. The survey was carried out online from August 27-30, 2018.
Gen Z Statistics
According to the study, this is a generation which expects the Internet to connect and entertain as well as sell to them and build their digital brand. Their life is fueled by technology.
With that in mind, it shouldn’t come as no surprise when they are online, they want to be entertained by the content they consume. This is because 66% of them said they primarily use the Internet for entertainment. More than 50% also said it was to connect, while close to a third revealed it was to get information.
The group is more like to buy something from a business which has videos, blogs, social media posts, magazine and more with consistent and relevant content
Being online for Gen Z also means being part of a hyper-personalized world of targeted advertisements and social platforms. This means businesses have to plan accordingly in order to address this demographic now and into the future.
The study says globally Gen Z currently represents up to $143 billion of buying power. And as they grow older the amount will increase to hundreds of billions of dollars. In the US they make up 25% of the country’s population.
This generation believes in predictive personalization (68%), trust only online businesses (75%), and prefer to buy from socially conscious businesses (69%).
Gen Z Entrepreneurs
In addition to the way Gen Z consume online, the study also looked into the entrepreneurial spirit of this generation. And it goes on to say as a group they are expected to be the most entrepreneurial generation ever.
Almost two thirds or 64% said they will likely start a tech business and it will be launched online. Technology, entertainment, and retail industries are the fields Gen Z are most likely to get into.
The report says, “Gen Z is the first generation to intrinsically combine the digital and the physical worlds.” Businesses who want to reach this group have to engage them technologically while addressing uniqueness, authenticity, creativity, shareability, and purpose.
Because as Jason Dorsey, President at The Center for Generational Kinetics, said, “They are fueled by technology engagement and value. And they look for that from the world around them.”
You can look at some of the data in the infographic below.
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Originally published at Small Business Trends