Just when agencies are getting a handle on the Millenials, a new generation is on the move, Generation Z. A few of these Z’s are already personal lines buyers, and millions more will be added every year, for the next decade. Though it’s likely that Generation Z will not influence commercial lines decisions for some time, a good insurance marketing strategy includes staying ahead of trends and knowing your market. Creating marketing content to Millennials is the new trend, but what lies ahead for tomorrow? Forward thinking insurance marketers are determining how to shape their message to appeal to Generation Z.
Gen Z Vs Millennials
Many people don’t know the difference between Millennials and Gen Z. Millennials are now between 20-37 years of age and comprise 24.5% of the population. They are replacing retiring Baby Boomers in the workforce and are starting to buy houses and cars as they start a family.
Generation Z are teenagers 12-19 years old and are 25.9% of the population. The oldest group of Generation Z are entering college and in a few years will be joining the workforce.
Age isn’t the only difference between Gen Z and Millennials:
- Gen Z communicates with images while Millennials communicate via text
- Gen Z are realists versus the optimistic Millennials
- Gen Z tends to be more creative but Millennials tend to share things
- Gen Z focuses on the future and Millennials focus on the present
This means that many of the strategies you have created to appeal to Millennials won’t work with Generation Z. They require a new strategy that includes:
- Creating snackable content
- Giving them social causes to rally behind
- Tapping into their entrepreneurial spirit
- Offering them control to empower them
- Educating and collaborating with them
- Learning how to communicate visually over multiple screens simultaneously
Don’t become complacent with your insurance marketing strategies – determine how to appeal to tomorrow’s customers with effective tactics today. Contact the experts at StartUpSelling or call us at (518) 222-6392 to learn more about forward thinking marketing strategies.