Facebook has published a new study which looks a the key elements that can help brands establish better connection with Millennial and Gen Z consumers.
The study analyzes the ways in which younger consumers connect with brands from both the food and beverage and retail banking sectors, providing a significant variation in expectation and approach. But overall, what Facebook's analysis found is that:
"...regardless of the vertical studied, younger generations tend to prefer connecting with brands online. But simple connection is not enough: They also expect brands to understand their values and deliver tailored experiences."
The results could help you formulate a better connection approach for your business - here are some of the key highlights from the report.
First off, Facebook says that digital connectivity is a must for younger consumers.
"It’s no surprise that digital channels are important for younger generations. At the end of 2018, people under 35 spent a total of 21.1 billion hours on mobile, compared to 16.0 billion hours consuming live TV content. And Gen Zers specifically now spend over four hours a day on mobile versus less than 1.5 hours per day in front of linear or streaming TV. Given this channel behavior, it makes sense that mobile is a strong driver of the brand relationship with younger generations."
Within this scope, the results show that Facebook plays a significantly more important role in brand connection among younger groups.
That makes sense - and you would expect that to be even higher again if it were looking at Instagram, or even Snapchat. The bottom line here is that social platforms play a key role in the brand awareness process for younger consumers, more so than other forms of media outreach.
Another key element for the next generation is brand values. You've likely heard the same before - in an age of increasing social consciousness and connectivity, consumers now put higher emphasis on patronizing businesses that stand for a cause, and/or share their passion for certain issues.
When younger consumers know what a brand stands for, they're increasingly likely to purchase, and share about their experience with others.
Personalization is also important - though Facebook notes that different groups prefer different types of customization options.
"For example, while Gen Zers in North America tend to prefer customer support through messaging, Millennials tend to favor direct interaction on a brand’s page. Along similar lines, the types of data they are most open to sharing in order to get personalized brand experiences also vary."
These could be difficult elements to scale, but depending on your target market, it's worth noting the value of personalization, and how you can tailor your processes to these needs.
There's more information in Facebook's full "Build Better Brand Connections With Gen Zers and Millennials" report, which you can view here, and it's definitely worth a look for those seeking to improve their approach to younger consumers.