The Next Market: Generation Z

While Millennials remain an important audience – especially as they move further in their careers and their incomes and needs change – it’s never too early to start thinking about the future. The next generation, Generation Z, are teenagers now, with their own set of needs and expectations when it comes to consumer habits. Make sure your bank or credit union is prepared to reach them with the right products and the right message!

While Gen X-ers and Millennials lived through the boom of technological advances, Generation Z was born into it. They expect the tech they use to be intuitive and efficient – if your Online Banking page takes too long to load, you will lose their interest fast. To attract and keep a Gen Z audience, focus on your banking technology and ensure it is:

  • Intuitive and easy to navigate, with as few sign-ons and navigation buttons as possible
  • Quick to load
  • Always the latest and greatest 
  • Smartphone and tablet friendly

When it comes to financial habits, experts expect Gen Z to enter the workforce with a more independent, entrepreneurial spirit than previous generations. As kids, Gen Z-ers witnessed their parents or older siblings struggle with the regular workforce during the Great Recession. At the same time, successful start-ups are everywhere, inspiring Generation Z to think beyond the traditional career path. Craft your messages to Gen Z following these tips:

  • Be practical – Gen Z is driven to succeed. Focus on providing the tools they will need today and in their future.
  • Be brief – Attention span isn’t Gen Z’s strong suit. They’ve learned to absorb information from multiple sources quickly and can lose interest just as fast.
  • Get to the point – Gen Z is used to getting the information they’re looking for in seconds. Let them know what you’re selling them and why they should want it right away.

As we learn more about this up-and-coming cohort, we’ll help you find success in speaking their language and meeting their needs. Count on to be your Gen Z guide!

Posted by - March 03, 2017