I recently enjoyed attending the Small Business Festival Victoria’s premier event, which was full of inspirational speakers. However, there was something a little unnerving about viewing my generation’s innate buying habits being lectured to an eager, note-taking crowd. With iGen (Generation Z) projected to account for 40% of all consumers by 2020, there can be no doubt about the value of this information, but I would suggest in occasionally pursuing different, more direct methods to obtain it.
So far, the insights being communicated are accurate, when I compare them to my own behaviours. I’ll admit it:
In addition to presentations at events, information on future Gen Z buyers is taught in a more structured format. HubSpot’s Inbound certification educates businesses on the new ‘buyer’s journey’, undertaken by an empowered, informed customer.
Source: HubSpot
HubSpot Academy is a fantastic tool, but allow me to suggest an alternative method of teaching the modern buyer’s process. No lecture series, no flow diagrams, and no funnels – instead, ask me a simple question:
It was nearly my 10th birthday, and weeks of pestering my reluctant parents had paid off. I have no doubts that I understood the magnitude of this purchase, despite my young age. At school, your devices were your assets; this phone was an investment.
I did what was (and still is) instinctual - I researched. I read countless product specifications and reviews, and for some reason, I spent a significant amount of time playing with interactive images, to visualise exactly how a flip phone opened. I didn’t need a sales pitch when I walked into the shop that weekend, because only the transaction was left. My buying decision had already been made.
This scenario perfectly illustrates HubSpot's new buyer’s journey. To win Generation Z's business, a simple and informative website, and positive, trustworthy reviews are crucial. You must meet us where we are – online, scrolling through miles of content, probably with 3 other tabs open and a Spotify playlist in the background.
This is one of many real-world examples I could give of the modern way to consume. I have spent the last 12 months living abroad, and had to make countless decisions on where to eat, shop, or stay (to name a few) based on nothing other than internet research. Aimlessly approaching nearby restaurants to see if I like the menu isn’t my process. Instead, I’ll carry out the following steps:
These individual buying journeys are honest, valuable, and in some instances, more revealing than a presentation or lecture on the habits of a generation Z consumer. I would encourage small business owners to collect these stories, to find out how best to insert your product or service into the journey.
Social media can be leveraged to reach out to Gen Z, and with many of us in university, we are always looking for ways to procrastinate. One option is to use Facebook or Twitter to circulate a survey. What did we type into the search engine? What details did we want to know before buying? Why did we leave one site to go to another? Moreover, we won’t need much of a reward for our time – we are more frugal than our millennial predecessors. One idea to motivate engagement is to offer a small donation to a relevant cause for every useful participation received.
Over the next few years, iGen will trickle into the market; the young professionals with growing disposable incomes and a new set of consumer habits determining where they spend. Maintaining awareness of this cohort is key, and opening direct conversations with them is an important, and often overlooked way of doing this.
