Generation Z, Gen Z, or centennials is the post-millennial and first genuinely digital generation in human history. At present, there is no consensus on the age limits for these people. It is generally believed that young people who were born between 1994 and 2010 belong to this generation. However, researchers claim that young people born in the 1990s are very different from those born after the year 2000.
The main factor that determined the centennials’ view of the world is a diverse, fascinating, and fragmented virtual reality. Any representative of Gen Z, be it an entrepreneur, business advisor or, say, a professional writer, does not imagine the world without the Internet, gadgets, and smartphones. These young people grow up with phones in hand and spend up to ten hours a day online. As a result, they do not distinguish the virtual and real world in their minds.
Apart from technological advances, another crucial factor influenced their perception of the world. Generation Z grew up in a globalized marketplace under the effect of both social and economic shocks. These people already faced the consequences of the global financial crises. Therefore, the inherent pragmatism directs Generation Z to build a sustainable business and minimize risks. At the same time, they do not forget to make contributions to the future through continuous self-education.
Gen Z perceives information by headings to keep abreast of the latest events and does not focus on the content itself. Such people are not interested in the usual description of the product's features or benefits. Instead of the verbal component of advertising, they pay more attention to the visual and emotional presentation. The widespread misinformation in the virtual space has taught them to be more attentive to the sources. Also, an opportunity to voice their opinions on social media led to their self-confidence.
The Attitude of Centennials Towards Entrepreneurship
Business orientation is one of the main features of Generation Z. They attribute less importance to higher education and want to become business people as soon as possible. These young people are precocious and more proactive than their parents. Many of them launch their startups before reaching the age of 21. Being prone to multitasking, they know how to fill out their tax forms and draw up a business plan in a few minutes.
In general, they have a more relaxed approach to the educational process. Centennials are self-taught individuals. They know how much knowledge it is possible to take from the Internet. They watch online lessons online, read textbooks on tablets, and prefer to work remotely from home. They are more likely to abandon the well-trodden path for getting an educational degree since they prefer to acquire the skills they need in the format of compressed online modules.
Gen Z youth is more pragmatic and adventurous than the previous generation. They have no intention of sitting around and waiting for a sudden enrichment. They cannot imagine their life without business, and they are ready to work hard to earn decent money. At the same time, they are not quite prepared to work for a boss. A lot of these young people want to create a small online project and bring it to perfection. More than half of centennials appreciate personal success and self-realization most in life.
Video: What Makes "Generation Z" So Different? | Harry Beard | TEDxAstonUniversity
Experts from WriteMyEssayToday believe this generation is prone to a kind of anxiety that is expressed in the FOMO abbreviation (Fear of Missing Out). Representatives of Gen Z prefer to work using the rapid development of new technologies. They are inclined to encourage individuality in their teams. In other words, they are afraid to miss or not do something significant in their lives. So, if you intend to sell your business to centennials, the following tips can be useful for you.
Tell the Story of Your Business
Generation Z profile includes the need to make graven images. These young people need this not for blind imitation, but as an association with heroes. If your company has a story, tell it. Let it motivate your customers and inspire them towards business achievements. Tell how you got started, how you got an idea to launch this business, and what your goals are. Generation Z wants to be part of something significant, and they consider themselves able to succeed.
For centennials, motivation means more than money. So, career growth and high income are not the best motivation for them. They strive to do what they like and value a developed corporate culture in the company. The post-millennial generation does not accept the traditional business hierarchy. For them, achievements speak louder than age and experience.
Gen Z demonstrates its uniqueness and wants to tell people about their preferences. These young people typically have an active social position and particular views of life. Generation Z values include tolerance, feminism, freedom of expression, human rights, and environmental protection. If your brand supports these ideas, the centennials are likely to be very interested in purchasing your business.
Be Honest and Open-Minded
Gen Z does not trust traditional advertising and marketing campaigns. These young people can hardly be impressed with redesigned commercials, and the social value of the business comes first for them. You should not disguise essential information about your business using ads and general allegations. To get the attention of Gen Z buyers to your business, you need to be honest with them.
Centennials focus primarily on friends’ recommendations, expert opinions, and user reviews on websites and social networks. So, your business should be presented online. Most of these people spend their free time online, which is the best way to keep in touch with them. It would be best if you were specific about your offer as well as the cost of your business.
Pay Attention to Personalities
Keep in mind that the financial situation of most centennials is precarious. For many of them, the optimal value of the deal is of great importance. At the same time, representatives of Gen Z are independent and do not make friends easily. The main reason is that they do not want to be disappointed in people. Show these young people that you value them first as individuals and not only as purchasers of your business.
Personalization is a crucial factor when making deals with Gen Z. These young people want their specific needs and preferences to be met. They can watch their favorite influencers online for several hours a day and master the art of creating a personal brand online. They get really excited when some Z marketing partners make progress in their businesses.
Talk to Them about Charity Events
Most centennials want their businesses to influence the world because they sincerely aim to change it for the better. They are the first generation to take global issues like climate change seriously. Generation Z loves brands that do philanthropy, and it means a lot for them to be associated with such a business. It makes them involved in good deeds.
These young people accept a wide variety of diverse expressions. In particular, they are trying to cope with global challenges such as social and economic inequality, environmental problems, terrorism, etc. Greta Thunberg showed that even a teenager is able to make things better. Therefore, they set high standards for business ethics and personal responsibility. This attitude carries over to their expectations of the business they run.
Engage Gen Z with New Technology
Centennials appreciate new digital technologies that are being used in business. These can be new developments for attracting customers, inventory management, sales optimizing, or reporting. These young people feel uncomfortable when they cannot take advantage of this or technology that makes their life easier since they are accustomed to the instant satisfaction of their needs.
Generation Z deeply values new and convenient methods of communication and opinion exchange, be it online or offline. They are ready to change the world around them and draw conclusions from their own mistakes. Using technology, they aim to be successful despite possible setbacks. They also do not always like to possess property. For example, many of them would prefer to drive a sophisticated Tesla model that belongs to the company instead of buying their own cars.
Every new generation of entrepreneurs means using the best marketing practices to continue driving revenue and promoting brands. When we consider how to apply marketing to generation Z, the point is that they want the same thing we all want — building lifelong relations with companies and people who care about us, and bringing great value to our lives.