Missing the Mark on Gen Z
Aside from the “Tide Pod Challenge” Gen Z is continuing to gain attention – this time by the Financial Brand.
I enjoy reading their articles as they are informative and backed by various studies, but what struck me this morning when I opened my email were the top three articles all related to Gen Z:
- “Generation Z: The Future of Banking”
- “Get Ready… Gen Z is About to Rock the Banking Industry”
- “The Digital Generation: Gen Z is Not Just ‘Millennials 2.0’”
Before even opening an article I got the sense that similar to my generation – the millennials, us marketing professionals were already beginning to miss the mark with Gen Z. Thus proving, we really haven’t learned much from my generation.
As a stereotypical millennial I’d roll my eyes when I’d hear about how much different of a generation we were, how we were turning everything upside down in the business and marketing worlds; knowing we couldn’t possibly be that different.
The more I think about it and the more research I do, I’ve realized there is no difference between Generation X and Generation Z. If anything all generations closely resemble each other – what separates them is the form of communication.
That is where the secret lies.
The reason us millennials were making it so difficult for marketers was a lack of trust in change. The thought of everything being done on a smartphone 10 years ago didn’t quite add up and for the Financial Industry especially, were the least trusting and last adopters.
To the credit of The Financial Brand, in Get Ready… Gen Z is About to Rock the Banking Industry (Click to read the full article here) there is an emphasis on the importance of digital interactions with this generation. However, they miss the mark by how they define “digital interactions”.
In the article, data shows that Gen. Z prefers mobile banking over online banking compared to Millennials – this is not the type of digital interaction we should be focusing on.
Is it important – yes. But we’re missing the mark on what’s important to know about this generation.
If anything – it shows we really haven’t learned much from my “earth-shattering” generation.
Get on social media; stay up-to-date on what’s new – it’s that simple.
Figure out and be a first adopter of the communication channel this generation is using, and use it to communicate, use it to be social.
If we don’t adjust our mindset, if we don’t soon begin to realize it’s all about communication – Gen Z will have nothing to do but roll their eyes at us.