While younger generations share a lot of similarities, there are some key differences in the ways Gen Z and Millennials spend that should influence your marketing strategy.
You’ve likely got a solid strategy for connecting with a younger audience. But as more of Gen Z begin to enter adulthood and gain spending power, it’s becoming more obvious that tapping into that market requires a different approach than that of the millennial.
Let me explain the difference; while Gen Z are using their 10-step routines and only wearing ‘clean’ makeup products, millennials at the same age were using St Ives Apricot Scrub and alcohol-based toners with the sole purpose of stripping the skin of its natural oils. Should I even mention the unblended Maybelline Dream Matte Mousse?
And it’s not just the fact that Gen Z is highly educated about skincare products, in-clinic treatments and aesthetic procedures that requires changes. The way both generations consume and react to marketing is pretty different too.
Believe it or not, Gen Z actually have more disposable income than millennials. How, you ask? Because they’re likely still living at home, don’t have a home or car loan to pay off, and haven’t even thought about paying back their HECS debt yet.
However, don’t be fooled by their healthy-looking bank accounts. Research shows that Gen Z lean more toward practical purchases whereas millennials are more willing to shell out for the experience.
This means if you’re marketing toward a Gen Z audience, they’ll want to see hard and fast facts about results, before and after photos and be ensured they’re getting value for money. They’ll likely opt for treatments that give them results in a shorter amount of time. Whereas millennials are more likely to sign up for a journey and choose courses of less-invasive treatments.
There’s this little app called TikTok you may have heard of and apparently, it’s huge with Gen Z. Despite a lot of people thinking TikTok is all just a bit of fun, it’s consistently proving to be a force for connecting with Gen Z (they make up almost 60% of their 700 billion monthly users after all).
Of course, both generations are big on Instagram so it pays to have a presence there too. Video content is generally preferred by both generations and while millennials love to see a curated feed, Gen Z are more attracted to minimally edited, more realistic quick bits of content. Keep in mind millennials have a longer attention span than Gen Z so are receptive to long-form content whereas Gen Z want short, sharp pieces of information.
Because they’ve grown up with it, Gen Z clients are also more likely to make purchases and service bookings via apps and mobile websites. Whereas millennials tend to lean more toward researching and making online purchases via desktop. So, make sure your website is compatible with mobile and any e-commerce or online booking portals work across both platforms.
Both millennials and Gen Z are miles ahead of Gen X and Boomers when it comes to incorporating sustainable practices in their lives. But Gen Z values it just that little bit more, according to research.
Millennials certainly care about causes such as recycling and ingredient sourcing, but are more willing to stray if the product or service is going to give them the results they want. For a lot of Gen Z, the sustainability, CSR and ethics of a business can often be a non-negotiable.
Millennials are the generation that created the influencer and the ‘I’ll have what she’s having’ culture still guides a lot of purchase decisions. You could also thank growing up with copies of Vogue and Harper’s Bazaar in hand for millennials being more receptive to traditional ads, promotions and marketing strategies.
When it comes to your content, millennials will typically respond best to client testimonials and transformation journeys from people who share aspirational results. But they’re also happy to see more traditional advertising like curated product shots or treatment demos.
Gen Z, on the other hand, are motivated to buy products or services that highlight their individuality and allow them to tailor their experience to their personality. They want stories and images from their peers that can be applied in a unique way to their own life.
Have you successfully tapped into a Gen Z or millennial market and have some tips to share? We’d love to hear them.
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