In a session about 'Gen Z changing the media game', Radha Subramanyam, president, insights, research and data analytics of iHeartMedia in USA, explained that while Gen Z has been different, the category hasn't been as different as people initially believed them to be.
Speaking on day three of the I-Com Global Summit 2017, she said, "The insights we have about them are highly culinary."
She went on to reveal what we know about Gen Z in the United States of America. "They are born in 1996 and after. They are the children of Gen X. 55 per cent are non-Caucasian. Compared to the total U.S. population, they are twice as likely to be of two or more races. Compared to Gen X, they're three times for likely to reject one label on sexual orientation. One in three of them are likely to be brought up in a single-parent household."
Subramanyam then stated five core principles that define their world view.
- Open minded - They are at ease with varied views and willing to consider new options.
- Loyal to the core - Treat them right, and you'll be inducted into their tribe.
- Fiscally conservative - Money isn't always made to be spent.
- Tech natives - Take technology personally and demand it to be simple, accessible and relevant.
- Non-conformist, put off by labels - They don't fit into stereotypical molds and live their lives in tribes, not demographics.
She ended her talk with three ways of marketing to Gen Z.
New technology is always welcomed, but they view most media like Snapchat as passing trends. They have always loved radio and know that it is here to stay.
Leverage the power of family bonds. These pro-parent and tech savvy youth are impacting household behaviours and decisions.
Target tribes, not demographics. Keep them informed and entertained.
Michele Madansky, principal, Michele Madansky Consulting, USA and Graeme Hutton, SVP, group partner, research, UM / IPG Mediabrands Insights, USA were up next to talk on the topic.
Madansky spoke about how brands can support and engage with college students in a memorable way during key periods of their lives. She said, "College is full of firsts. The most meaningful moment for these students start with getting accepted to college and range all the way down to moving into a dorm for the freshman year. These firsts actually run from freshmen year to the fourth year, so firsts extend for four years."
Hutton added, "Radio has seen in an increase in their preferences due to streaming. Weekly media consumption has increased from 38 hours in 2011 to 56 hours, but television has fallen from 10 to six. In fact 46 per cent of the students have cut the television cable chord and watching it on a stream."
He ended his talk by explaining why Gen Z matters with a quote from Derek Thompson's book Hit Makers from February 2017. "This is the group most likely to accept a new musical sound, a new clothing fashion, or a new technology trend. When you're young, every rule is illegitimate until proven otherwise... because they will have little to lose young people will continue to be neophilic motor of change."
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