By Sarah Kenny
As the only generation born into a life surrounded by technology, “Generation Z” is changing the business landscape. Those born between the late 90’s and today grew up using the Internet, smart phones and social media, making them experts of technology. Being born into the digital world has affected the way they buy and consumer products, making this new generation a significantly defining one in shaping the future of businesses according to Dan Keldsen the co-author of “The Gen Z effect: The Six Forces Shaping the Future of Business.” With this generation growing into dominate consumers and workers, businesses are finding they need a to reshape their business models and brands to reflect Generation Z’s values. Businesses need to understand the values of Generation Z in order to successfully influence and communicate with them. Here are some of the important values of Generation Z.
Technology
We use technology in every aspect of life today, especially in business. Though many of us grew along with the technological advances, Generation Z was born into the digital world. This means they are strangers to a life without instantaneous communication. If your business aims to reach the next generation it is important to develop a brand that has technology to support these constant communication values. Open communication is not only important to the consumers, but it is also important within the business and with the employees.
Transparency
Generation Z is an open book, and places a great deal of importance on honesty and transparency. Information is out in the open and placed on the Internet for anyone to search or find. This is specifically expressed through social media, where individuals share their professional and personal information with other users. Our digital world doesn’t hide anything, but this is something that Generation Z embraces. They expect businesses to do the same and clearly state their business model and goal as a company. When adapting to a more transparent business model it is important for businesses to provide clear and specific information for the consumer. Businesses that are more open are more likely to have greater influence on Generation Z consumers.
Convenience
One of the most important values for Generation Z is convenience. Everything needs to be instant and direct for the consumers. When establishing your business model you want to make sure convenience is the number one most important aspect for the consumer. Your business model and brand should provide instant and convenient service and be built around the consumers needs. With so much information at our fingertips, businesses will only thrive if they are easy to use and understand for the consumers.
Privacy
Recently privacy has been a controversial subject among the digital world. Many businesses are facing problems with their encryption technology and there is a fear that consumer data is not always safe. With so much technology circling the web businesses need to have high privacy standards. Generation Z may be transparent and open about a lot of information, but they also value privacy and the ability to keep certain information hidden. With this generation being much more tech savvy than the others, there is much more importance placed on privacy than we have seen before.
In order for businesses to continue to succeed and influence Generation Z they need to take into account these important values. Business models and brands need to stay relevant as this generation begins to become more and more dominate as consumers and in the workforce. With every generation there is a shift in brands and business models, but one thing that sets Generation Z apart is their advanced understanding of technology. This means that businesses lacking in the technological world will need to undergo a shift if they want to communicate and interact with Generation Z. The use of technology in your business model and brand has become increasingly important, as the business landscape has changed. There is a whole dimension of capabilities that are lost without the use of technology and the digital world.
KnockMedia is aware of these technological changes that have been affecting the business landscape and work with companies to make sure their business models and brands are stronger than ever. As specialists in technology, user experience, rebranding and much more we can develop websites and applications that reflect the current values of Generation Z to help your company thrive in the digital age. KnockMedia is not only an expert in creating external significance with Generation Z, but we have developed a business model that works internally with individuals from this new and thriving generation. By providing internships, apprenticeships, and hiring college graduates, KnockMedia has developed a business model that aligns with the values of Generation Z and understands first hand how to help your business do the same. Visit our website for more information about how KnockMedia can help build your business for the next generation http://www.knockmedia.com.