An Effective Social Media Strategy & Online Shopping Experience Is the Key to Millennials & Gen Zers

Millennials and Gen Z are  alike when it comes to using the tools, recent technology, and popular social media channels. But they differ on how they use social media, their purchase power, brand perception and interaction, and how they shop online. Let’s see how an effective social media strategy and online shopping experience can help you woo both these generations.

While millennials (aka Gen Y) are digital pioneers who use social and other online channels to shop occasionally, Gen Zers – the digital natives are trendsetters with their growing purchase power and an omnichannel approach.

To craft an effective social media strategyOpens a new window for online shopping, you have to first understand how millennials and Gen Zers are shaping the market dynamics with online shopping and social platforms.

Understanding the Target Demographic

Business 2 CommunityOpens a new window has compiled some interesting statistics on how millennials’ online shopping is changing the retail industry:

• 67% prefer to shop online than in-store.
• 45% prefer to buy online as they can run product and price comparisons.
• 80% won’t buy anything without reading a review.
   

Here are a few startling facts released by the National Retail FederationOpens a new window , about the digitally native, Generation Z (born between the mid-90s – early 2000s).

• Gen Z is set to reach 2.6 billion by 2020.

• Their buying power is estimated at $44 billion.
• 67% shop in brick-and-mortar stores most of the time.
• 43% said they would participate in a product review.
   

Gen Zers also value personalization and understand why their personal information is essential to retailers. But they value safeguarding their data, and 61% said they would feel more confident about their data if they were assured it is stored and protected securely.

The BELVG blogOpens a new window has curated an interesting list of differences between the two generations’ online shopping habits and social media usage:

• Millennials prefer platforms such as Facebook, YouTube. Gen Z is active on Snapchat, YouTube, or Instagram.
• Millennials are brand loyalists, but the next generation doesn’t restrict itself to one brand.
• Product reviews matter to Gen Y, and Gen Z is more inclined to interactive and authentic content.
• Influencers inspire both generations, especially the post-millennials.
   

Learn More: 3 Social Media Campaigns You Need to Know About Before Creating Your 2019 StrategyOpens a new window

How a Social Media Strategy and Online Shopping Experience Can Help You Win

Millennials and post-millennials are driven strongly by social media validation, and popular culture trends when it comes to making buying decisions. According to Gartner, 84% of millennialsOpens a new window are likely to be influenced to make a purchase based on user-generated content. Gen Z is characterized by a high affinity for switching brands and looking for a fast and relevant search experience. So how can a retailer ensure this generation of shoppers stays loyal to its brand?

GroupBy’s Opens a new window CEO, Roland Gossage, shares some best practices retailers can consider as they look to engage with these demographics:

“The right kind of recommendations and search results are critical to keeping shoppers on a site. Because apparel buyers are driven by discounts as well as brands. Having the right combination based on their individual profiles is critical. Search-specific analytics can help merchandisers develop a strong sales strategy inspired by how shoppers look for items based on their location, the season and the intent behind their searches. By combining a strong social media strategy with a formidable online shopping experience, retailers can smoothly navigate their followers between brand advocacy and shopping.”

Now that we understand the two generations better and how a strong social media strategy can help, let’s find out how to craft effective social media strategies and online shopping experiences for each.

Tips to Create an Effective Social Media Strategy and Online Shopping Experience

You can plan your social media strategy and create compelling shopping experiences by leveraging these tips and tricks:

1. Leverage Video Platforms
 

Given that both generations have short attention spans and are interested in video platforms, marketers can connect with them on video platforms and leverage video ads to drive engagement and boost online shopping.

Focusing on creating a video (content or ad) tailored to your audiences’ preferences will help you capture their attention. Short, snackable video content that lasts 10–60 seconds or video ads that last six seconds are the secret to any successful social media strategy.

For example, Snapchat, Instagram, and Facebook Stories get a high viewership as they are short and can be consumed on the go for knowledge and entertainment.

Key Takeaway: Visual content that is easy to consume is a proven way to reach your target audience. Stories are well suited for How-to or DIY videos and can help solve user problems. For example, if yours is a cosmetics brand, you could follow a story format to demonstrate the features and makeup application.

Learn More:

Top 10 Instagram Marketing Strategy Tips for 2020Opens a new window

2. Partner with Influencers
 

Both Gen Y and Gen Z trust influencers more than celebrities. Product recommendations and reviews from their social circle and sometimes even strangers influence Gen Y before they decide and hit Purchase. Gen Zers, on the other hand, tends to follow people who have become online sensations for consistently creating authentic and relatable content.

SperryOpens a new window , a shoe-brand worked with more than a 100 micro-influencersOpens a new window on Instagram. The brand identified users who were already sharing high-quality photos of its products. Sperry then invited them to develop visual content for its Instagram account. Through this Sperry could create brand awareness through authentic user-generated content and the micro-influencers’ content got instant recognition.

Key Takeaway: Collaborating with micro-influencers will help you win-over both generations, and the original and relatable content will help you win user trust and loyalty.

3. Create Frictionless Experiences
 

Millennials use desktop as well as mobile devices for online shopping, but Gen Z is more likely to use smartphones for their shopping journey. It is thus important to have a mobile-optimized, and even a mobile-first strategy to create frictionless shopping experiences. Also simplifying the online checkout process with minimal clicks will help you convert these shoppers faster.

Platforms such as Instagram and Amazon are making online shopping experiences quick, convenient, and seamless. Instagram’s checkout featureOpens a new window helps customers directly buy the product without leaving the app. It also stores user information for the next time they shop and notifies customers of their shipments and delivery dates for their convenience. AmazonOpens a new window has a huge advantage when it comes to speed and convenience because it regularly shares information on package tracking and deliveries. Amazon Prime offers faster delivery motivating impulsive buyers to shop more.

Key Takeaway: Simplifying online shopping experiences by helping them find products, making checkout easy, and notifying them of their shipment status motivates the customer to shop from you and keep coming back to you.

Learn More:

Top 10 Ways to Use Social Media for Business to Boost Sales in 2020Opens a new window

4. Focus on Personalization and Privacy
 

Millennials are fine with sharing their data, and although Gen Z understands the importance of personalization, they are more guarded on social media and care more about their privacy. Both generations realize data is important for better experiences, but recent scandals of privacy breaches have shaken their trust in social media platforms. Marketers must strike a balance between personalization and privacy to win customers’ trust.

AirbnbOpens a new window is trying to effectively balance personalization and privacy. With their TripMatcher Quiz Opens a new window users can personalize their browsing experience by answering a series of targeted questions, letting users have a little fun and explore new places to travel to.

Key Takeaway: For your social media strategy, you could win the confidence of your target demographics by being transparent about how you will secure and use their dataOpens a new window .

Learn More: Social Media Trends 2019: Are Instagram and Pinterest the New Social Media Darlings for Marketers?Opens a new window

Over to You

A social media strategy can only be effective when you understand your target audience well. Crafting content based on their preferences, identifying when and whereOpens a new window (through social platforms) they spend their time will help you create a complete view of your customers and prospects. This will enable you to create compelling online shopping experiences.

The key is in understanding that no two generations are alike. Although there may be some overlap in millennials and Gen Zers’ spending and shopping behavior, they differ with their buying power, brand perception, preferred social platforms and channels, and how they use technology.

Being transparent, relevant, and agile will help you hit the bull’s eye with your online shopping experiences and social media strategy.

How are you improving shopping experiences and your social media strategy? Write to us on TwitterOpens a new window or LinkedInOpens a new window or FacebookOpens a new window ; we’re always listening!