A large chunk of the present audience comprises Millennials and Gen-Z or GenZers. When it comes to marketing to these audiences, both of them differ a great deal from each other. As the GenZers are growing older, marketers are seeing a major difference in the buying and spending habits of these two. These behaviors have been shaped by their values and perception of different brands and industries. Millennials grew up in a world without the internet and witnessed when the Internet took everyone by storm. They know life before and after the Internet came into their lives.
On the other hand, Gen Z has been born into the world of social media, trends, and Wi-Fi. They are, what one can call, digital natives. Compared to Millennials, Gen Z is more enlightened in the digital world. You would also find them at the front of the new trends on Instagram and TikTok.
Today we will take a comprehensive look into the Millennial and Gen Z audience. Before we delve into their differences, let’s see some facts about Millennials and GenZers.
- Millennials are born from 1981 to 1995.
- They prefer teamwork between them and their colleagues to Gen Z.
- 20% of millennials are likely to have a bachelor’s degree.
- Millennials are comfortable with switching jobs and have an optimistic approach, as they were born during an economic boom.
- Millennials are tech-savvy as they are multi-screen users.
Gen Z Facts
- GenZers are born from 1996 to 2012.
- GenZers are more independent and prefer to work in their workspace.
- 75% of GenZers prefer other means of getting higher education instead of going to college.
- GenZers were raised during the Great Recession of 2007-2009. They look for job security instead of exploring different positions.
- This generation does not know of a time when there was no internet.
- They can use up to 5 different screens, sometimes all at once. They can browse the web without a hitch.
These differences determine a pathway for different brands and companies and how they should cater to the Millennial and Gen Z audience.
Having said that, let’s take a look at some of the key differences between the Millennial and Gen Z.
Millennial vs Gen Z – The Key Differences
Continue reading to know how these generations differ from each other:
First and foremost, the obvious difference between these two generations is that even though they grew up with technology, their take on technology is different. Millennials used big computers, DVD players, phones with tiny screens, and modem internet. Even though these were huge at that time, they don’t mean anything to GenZers as they were born into smartphones, iPads, streaming apps, and Wi-Fi.
Millennials saw the technology explosion, whereas the GenZers were born into it. GenZers cannot think of a time when they had to go without using the internet or a gadget. On the other hand, the generation has also suffered significantly at the hands of social media and the internet. GenZers suffer more mental health, cyberbullying, and body image issues than any other age group. Even though being connected all the time, GenZers are the loneliest generation.
Both generations spend a lot of time on social media, but their preference for social media apps and platforms is different. According to the World Economic Forum, GenZers log on for about 3 hours. And millennials for an average of 2 hours and 38 minutes. And even though there is not much difference in the time spent here, the usage is certainly different.
Attitude Towards Money
Another main difference between these two generations is their take on money. Even though they are serious about financial management and focus on investments that can be fruitful to their careers, they are focused on improving the habits of the previous generations. Millennials use their money to gain positive experiences from purchasing products or services. GenZers are more cautious buyers and are more focused on buying practical products or savings.
When it comes to content consumption, Pew Research Center reports that young adults prefer to read the news instead of watching. Millennials are inclined towards long-form written content. However, it needs to have a human interest angle. As for GenZers, they are less likely to read longer-form pieces. They want to get the message within a few seconds.
If your content does not stand out or get their attention, they will swipe away. Branded images and videos, along with other kinds of visual content, are more appealing to GenZers. Millennials pay attention to content for 12 seconds. As for GenZers, they stay focused for eight seconds. GenZers are more into quick or short-form videos like Instagram or Snapchat stories. On the other hand, Millennials are more into detailed podcasts or videos.
Due to a load of bad reviews, claims of inauthentic accounts, and paid followers, Millennials are gradually moving away from influencers. Millennials follow celebrities and think of them as influencers. GenZers are more into real-life influencers like YouTubers or popular Instagram influencers with a huge following. For them, they are more authentic than celebrities and have honest reviews to offer.
GenZers are Mobile Buyers
From all said above, now you know that both Millennials and GenZers are heavily connected to social media and the internet. Both these generations use mobile devices to go online. GenZers spend a lot of time using the internet on mobile. About 71% of GenZers teens use mobile devices to watch videos. Moreover, 51% of teens use mobiles for social media surfing.
Learning about Brands & Content
Each generation has its unique preferences regarding knowledge about different brands and products on social media. Millennials respond to different promotional strategies like online ads, branded podcasts, and social media marketing. Gen Z, on the other hand, prefers to learn about products via influencer marketing and social media-based videos.
37% of Millennials prefer to see people discussing products/services in marketing content and ads. While 87% of Gen Z are inclined towards ads or marketing content that shows real people discussing products.
Targeting Millennials and Gen Z Audience – What Should You Know
If you are a marketer, here is what you need to know while targeting these two demographics:
Invest more time in creating content that is easily shareable on social media platforms as that is where most of the Millennials and GenZers spend their time.
More Visual Content
Create more engaging visual content and use it in everyday marketing. They should be simple and convey a message that both Millennials and GenZers find appealing.
Adapt Your Message
Compared to Millennials, Gen Z is more “woke” They strongly feel about both environmental and ethical issues. Therefore, brands must consider these concerns when they create content. There is no need to change your brand’s ideology. Rather you should focus more on the purpose of your brand. How your process affects or impacts the world around you and if you are promoting an ethical message.
The reason behind Content Creation
While consuming content, GenZers want to take away something. It could be a piece of information or a skill they can share. While creating content, see that your content has a purpose and provides food for thought to this demographic.
If you are a digital marketer, learning about Millennials and Gen Z will help you in crafting targeted campaigns for these demographics.