ARE MILLENNIALS AND GEN Zers KILLING YOUR HOME IMPROVEMENT BUSINESS?
Actually, the correct question is -
ππ₯π π¬π’π¨ ππππππ‘π π¬π’π¨π₯ ππ¨π¦ππ‘ππ¦π¦ πππππ¨π¦π π¬π’π¨'π₯π π‘π’π§ πππ§ππ₯ππ‘π π§π’ π πππππ‘π‘ππππ¦ πΌπΏ πππ‘ ππ²πΏπ?
It's been written and is now full-on happening - Gen Z and Millennials are flipping consumerism on its head. They are not just scrolling and buying anymore; they are pushing back against all the non-stop ads and social media trends that fuel endless consumption. And millennials are joining them.
And they are tossing your endless direct-mail pieces into their back-yard fire pits, while at the same time getting pissed at you for killing so many trees to send out that mailer.
Are you keeping up?
More specifically, have you adjusted your marketing efforts, advertising, and more significantly, your sales process?
"Well, they don't spend as much as the older generations, so why should I worry about it?"
Consider these numbers -
π Gen Z and Millennials combined represent over 40% of U.S. consumers, with significant growth in their combined buying power projected over the next decade, as they age.
π According to market trends firm, Exploding Topics, Gen Z's global purchasing power is 450 billion USD, and this figure is expected to rise in the coming years as they mature into their maximum purchasing potential.
π Millennials purchasing power is even higher at over 600 billion.
π Gen Z β those born between 1997 and 2012 β will soon become the wealthiest generation ever, according to a recent report. The "Spend Z" report from NielsenIQ projects that Gen Z will have the fastest growth in spending power, reaching an estimated $12 trillion by 2030 and overtaking Baby Boomer spending by 2029
Now, since Gen Z is considered to be between 12 and 27 years of age, you may think, especially with the in-home sales industry, that you don't have to worry about them, but you would be wrong.
These "youngsters" are having more and more influence over what their parents are buying, and soon, they will own their own houses (if they don't already) and will be looking for and attracted to brands that do not follow the typical funnel used on their parents.
They research, read reviews, buy from companies and brands that tout sustainability, and absolutely hate, with a passion, any type of sales pitch.
Are you keeping up?
Do you use sustainable products? If so, do you market those facts?
Do you come across as a brand and company that you can PARTNER with, not just buy from? A company that a consumer "feels good" about, which is different than a company that a consumer can trust.
It's time to take a deep dive look into your marketing and client acquisition efforts and make sure you are not leaving these groups behind, because if you are, they will leave YOU behind.
Start today, to save your tomorrow.
#allanlanger #the7secrets #verydemure #consumerism