Should You Be Marketing to Gen-Z?
BLOG POST BY LAUREN LEAL, DIRECTOR OF ENGAGEMENT AT THE NEWS FUNNEL
Meet Generation Z. They are the kids under 18 who don’t know life before the internet and think Facebook is for old people. Most of them can’t even parallel park, but real estate brokers have already begun researching marketing strategies to reach these youngsters.
What Do They Want?
The majority of this generation are still teenagers. But the first round of 18th birthdays was completed in 2017, and brokers are thinking about their future clients. Thankfully, Gen-Z has been given a more agreeable set of market trends, as they did not grow up through a recession, a war on terror, and have yet to be suffocated by the reality of student loan debt. They can look forward to the current pace of low-interest rates and the ever-improving employment opportunities offering higher wages. This generation has yet to define their market trends, but green and energy-efficient homes, home office space, and technology integrations are the most likely features to be desired by the big Z.
How to Reach Them
We know what they want, but how do we reach them? Generation Z is the most tech-savvy group to date. While there has been a big shift to market properties on social platforms, current efforts won’t be enough to reach the budding market.
Smartphones continue to rise to the top as the go-to marketing channel for all businesses, and real estate will be no exception. Over half of the kids under 18 were raised in homes without a landline. About eighty-five percent of phones are smart, and real estate marketing will have to adapt their strategies to access this young crowd. Because of the Z’s “mobile-only” focus, mobile advertising will comprise about one-third of real estate’s advertising dollars in the next several years.
Push notifications are app-based ads that pop up and clutter our smartphones. While most of us find these irritating and distracting, this is how marketers speak to the younger crowd. Push notifications are three times more likely to be opened by Gen-Z buyers than any email.
About ninety percent of all time on smartphones is spent in apps rather than internet browsers. It’s key to continue integrating social apps into marketing strategies, where all of us log most of our digital time anyway. The key is to keep on trend and always be ready to tackle the newest apps. Remember that Generation Z doesn’t use Facebook, and by the time they are of age to buy a home, Snapchat and Instagram might fall by the wayside.
This generation has an attention span that lasts mere seconds. They are multi-screen users that bounce from device to device so you have to engage them fast.
Message is the new email of real estate marketing. Mobile chat can sync up listings, manage customer relations, and keep communication simple. This is gaining popularity and is sure to become the key to conversing with the next generation of buyers.
Generation Z is sure to challenge all previous ideas of first-time homeownership, beginning with immediacy. Brokers are predicting a prompt appetite for property so real estate agents should be putting forth great efforts to target Gen-Z in all future real estate marketing strategies.
Need help with your social media strategy? Contact Jen@thenewsfunnel.com to learn more. We manage some of the BIGGEST brand’s social media in CRE and more importantly WE GET RESULTS.