Here’s a poke in the eye for financial marketers from a member of Generation Z:
“My numero uno message to brands that try too hard with the things that a 40-year-old thinks we would like is: If you think ‘Oh, that’s perfect for Gen Z’ — that means it’s probably a Millennial idea and a straight path to failure. We are different.”
This quote, from a report by CNBC, may be snarky, but it’s also a wakeup call for financial marketers.
In many ways banks and credit unions got a late start on Millennials, and many are still speaking of that generation as if it were a fresh phenomenon. Yet Generation Z has already started to enter the workforce. According to GlobalWebIndex, in an international study, 33% of Gen Z is already working, full-time, part-time, or freelance. Gen Z has already begun spending money — and 77% of 18-21 year olds make P2P payments, according to Zelle. Gen Z is forming impressions of traditional financial institutions — with or without the institutions’ input.
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