As we all probably heard, there are two groups of consumers that grow really fast these days: millennials and Gen Z. Even though they are young, the buying power of these generations cannot be overlooked. From now to 2020, it is estimated that these young people will spend nearly $350 billion.
Majority of these youngsters live in digital environment where technology is already embedded into their daily lives. Their communications and interactions are mostly built on digital basis. This phenomena highly impacts millennials and Gen Z behaviours, and makes their habits different than generations before them.
In a survey held by YPulse, millennial and Gen Z respondents imply that there are several factors they expect from ads. What are these factors?
• Flexibility on when audiences can act on the ads. It can be right when they see the ads or later when they have more time.
• Discovery to new and exciting things aligned to their daily lives and activities. If marketers keep giving something millennials and Gen Zs what they’ve already known, they would not be interested.
• Personalization. The personalization presented in ads can range from their personal taste, activity, to their location.
From those factors above, we can see that these young consumers expect fresh, creative, and more personal breakthroughs from marketers. In this survey, some respondents also give their reasons for ignoring ads. When trying to consume a content on mobile, these groups of audience don’t want to be interrupted by ads.
Nevertheless, these millennials and Gen Zs are not all unwelcoming. In certain conditions, they are able to tolerate ads. Such as ads that appear in apps they often use or ads that offer discounts. Ads that give their audience a chance to participate are also highly welcomed by these young people. This attracts connection between brand and audience, which results in engagements.