Reaching the next Gen consumer while protecting your core consumer base
The real question asked by many is, “How can I reach the next generation consumer while protecting my core consumer base, that is ageing”.
To understand the behaviours and attitudes of Gen-Z, we need to take a look at 3 data points, research recently completed by the Forrester group.
- 33% of GenZ unfollow, hide or block brands on social media at least weekly.
- 46% of GenZ think it’s cool to be associated with a brand on social media (vs 52% in 2019).
- 55% of GenZ indicate a company’s social responsibility reputation influences their purchase behaviour.
These data points reveal that consumer behaviour in the next generation comes down to the truth. GenZ, now more than ever, expect brands to stand up for what is right, to stand up for the truth.
To elevate the marketing mix, businesses today have to convey characteristics such as being authentic, respectful, and representing an impactful causality.
The words “Business consciousness” have started influencing marketing strategies, seeking the tenets of conscious capitalism, including entrepreneurship, competition, fairness, trust, compassion, collaboration, and value creation – human and material.
The reality is, markets surge when they see an altruistic trend. So perhaps there is an acknowledgement that there is an unusual aspect to the conscious business. George Washington called it providence.