Three tips for businesses wanting to thrive in 2018 and beyond
Today’s competitive market means businesses not only have to be good at what they do, they also have to be skilled marketers. It’s a necessity in a world where the first true “digital natives” are coming of age. Raised fully in a smartphone-saturated environment, the members of Generation Z (those folks born between 1996 and 2010) are now starting to wield purchasing power in the marketplace. And they are savvy. They can do multiple things at once, often believing they know more and they know best. These facts make it especially hard for companies to convince members of Gen Z that the product or service being offered to them is the one they can’t live without.
To thrive now and in the future, businesses must move beyond competence. Lots of companies have good ideas and good business skills. The smart ones have more. Take a look at three ways successful businesses are setting themselves apart from the competition:
Companies that are really leading their industries are the ones that have found a niche and exploited it. Maybe they’re like Tesla and making not just cars, but electric cars. Or maybe they’re like Apple, who decided to make a personal computer with fewer bells and whistles but with an easier interface. Or maybe they’re like the EB5 attorney in your local metro area who specializes in immigration investment law rather than generic “legal advice.” Successful businesses offer truly unique products that consumers can’t provide for themselves and can’t get anywhere else. And for members of Gen Z, who often want to “go it alone,” those are important distinctions.
They’re Going Digital
We know the Internet is a powerful force in today’s market, but for Gen Z, it’s the only force. They’ve never known a time without technology. Nearly half of them are spending more than 10 hours a day connected to a digital device in some way. Growing businesses are moving toward a digital presence that surpasses traditional television commercials and desktop websites and fully accommodates a mobile experience.
They’re Keeping It Short and Simple
Generation Z is used to working across a variety of devices at the same time. They quickly view something on one platform and move on. It’s increased their ability to multitask, but it’s decreased their attention span. Too much information is quickly passed over for more concise communications. It’s just too much effort otherwise. To succeed in today’s market and in the years to come, companies should be directing their marketing and advertising efforts with messages that are short and simple, replacing the long-winded commercials of the past with catchy blurbs and graphics.
It’s not rocket science. Businesses just need to think about changing demographics and start catering to a different mindset. Remembering that times and people (i.e., consumers) change, can help increase a company’s exposure and effectiveness.