Wooing GenZ with your mobile strategy

Those in the GenZ, post-millennial generation are often described in terms both descriptive and derisive – inattentive, apathetic, or technologically addicted.

Of course views, and the truth, vary, and the stereotypes often don’t apply. We can almost certainly agree, however, that this younger generation is particularly “mobile savvy”.

For credit unions, this is a critical dynamic to keep in mind when brainstorming marketing strategies for these young adults born between the late ‘90’s through the 2000’s and beginning to enter the workforce in droves.

So the question is, how do you woo GenZ with your organizations’ mobile capabilities?

To help you along, we’ve compiled a list of Gen-Z’s 10 most distinctive characteristics:

  1. They’re technology saturated. Cell phones went mainstream in the late 1990s, around the time GenZ was born. They’ve never experienced life without being tethered to a phone, or without the Internet at their fingertips.
  2. They live on social media. Instagram posts and Twitter hashtags are par for the course for Generation Z, who regularly access social networks through their mobile devices. According to a recent survey by Social Media Today, an astonishing 200 million Facebook users view the site strictly on their mobile devices.
  3. They’re realistic. GenZ grew up in the post-9/11 world, and witnessed the economic ups-and-downs of 2008-2009. As a result, only 56% of Gen-Zers expect to have a better lifestyle than their parents, compared to 71% of millennials, according to a Goldman Sachs survey.
  4. They read — and write — online reviews. Posting reviews is easier than ever thanks to mobile apps like Yelp. So if a business provides poor customer service, a college freshman will know it almost immediately with a quick search on his digital device.
  5. They’re entrepreneurial. A recent Northeastern University survey showed that 42% of Generation Z members expect to work for themselves one day.
  6. They’re diverse. According to the Census Bureau, the country’s Hispanic population grew at four times the rate of the total population between 2000 and 2010. Meanwhile, the number of Americans self-identifying as, ‘mixed white-and-black biracial,’ rose 134%, and the number of Americans of mixed white and Asian descent grew by 87%.
  7. They’re screen addicted. According to a recent Goldman Sachs study, GenZ members are online at least an hour per day, with nearly half of them connected for more than 10 hours per day.
  8. They love videos, too. Smartphone-wielding GenZ tweens and teens are accustomed to creating and viewing videos about everything and anything on their devices. Smart organizations know this, and are creating some seriously clickable reels.
  9. They’re used to convenience. Like their GenX parents, GenZ is addicted to convenience, which mobile technology delivers. From using their smartphones to call an Uber to using location-based matchmaking services or mobile banking apps, GenZ expects to get what it wants on demand — including cash. Credit unions that want to attract this generation need to offer services that cater to convenience, such as mobile money transfer (which allows members to make peer-to-peer payments on their digital devices).
  10. They’re jaded. When it comes to technology, they’ve seen it all — websites, blogs, smart alerts, text messages, memes, and so on. Therefore, simply having a smartphone-optimized website isn’t enough to attract them. In order to grab attention, an organization also needs to offer mobile-accessible services, and click-worthy content.

The baby boomers and Generation X members who are running our credit unions will need to embrace this new generation if they are to continue to grow.

Joe Woods

Joe Woods

Joe Woods, CUDE is a 15-year credit union veteran.  He has spent time with Corporate One FCU, Liberty Enterprises, co-founded Legacy Member Services and was part of the senior management ... Web: www.dolphindebit.com Details