Why Brands Must Keep Gen Z in Mind with Affiliate Marketing
Generation Z, which includes anyone born in or after 1997, is driving the growth of innovative digital payment methods like mobile wallets. This generation is not only entering adulthood by the millions but is also experiencing a rapid rise in spending power.
While millennials still spend the most of any generational demographic, Gen Zers are quickly gaining ground. Brands must adapt other affiliate marketing strategies to align with their purchasing preferences to ensure that they’re tapping into this ever-growing consumer base.
Let’s take a closer look at why brands can’t afford to ignore Gen Z in their affiliate marketing efforts and explore some new partnerships that brands can leverage to connect with this key audience.
Why Gen Z can’t be ignored
Insider Intelligence reveals a staggering statistic: Gen Z encompasses more than 70 million young individuals, with approximately one-third of Gen Zers now reaching adulthood and joining the vast consumer market.
While Gen Z may not represent the majority of consumers, their collective spending power is consistently on the rise. In fact, research from Insider Intelligence suggests that this power is expected to reach its peak in the near future.
It’s imperative for brands to recognize the significance of effectively engaging with this generation if they want to increase profitability and make a meaningful impact on total revenue.
How brands can tap into the spending power of Gen Z
Affiliate and partnership marketing strategies are highly effective at connecting with millennials and other generations of consumers. These strategies can be equally instrumental in harnessing the spending power of Gen Z, provided that brands adapt to the spending preferences of younger consumers in the right ways.
Consider implementing the following strategies to tailor your approach to suit Gen Z consumers.
1. Invest in more mobile marketing
A staggering 91% of Gen Zers get their first smartphone before they turn 16.
That means some members of this generation were practically born with a mobile device in their hand — their entire lives revolve around the mobile device experience.
You need a robust mobile marketing strategy if you want your brand to be relevant to this audience. Get active on social media, optimize your mobile app, ensure that your website is mobile-friendly, and rethink your affiliate partnerships so you can maximize your reach.
2. Partner with social media influencers
On the topic of getting more active on social media, consider adding influencers to your partnership marketing mix. Gen Zers love turning to social media for product recommendations and purchasing advice. In fact, about one out of three Gen Z consumers have purchased a product based on an influencer’s recommendation.
At Acceleration Partners, we offer a fully integrated and transparent influencer program management service.
Through AP Influence, Acceleration Partners addresses every facet of influencer partnership marketing. Our team strategically acquires influencer partners for your brand to help you target the right audiences and generate quality leads, revenue, and much more.
3. Connect with Buy Now, Pay Later (BNPL) partners
Buy Now, Pay Later (BNPL) affiliate partners offer point-of-purchase financing, which allows consumers to break down the cost of a purchase into several monthly installments. Offering BNPL services can encourage additional purchases and boost total sales.
BNPL is especially popular among Millenials and Gen Zers. According to Insider Intelligence, 50% of Gen Zers will be using BNPL services by 2026. Millennials will be using BNPL services at about the same rate.
Ready to revamp your affiliate program for Gen Z? We can help
Don’t ignore Generation Z in your marketing efforts. With over 70 million individuals, their spending power is rapidly rising.
To tap into this ever-expanding consumer base, brands must adapt their affiliate marketing strategies and forge new partnerships that resonate with Gen Z’s purchasing preferences.
Revamping your partnership marketing program for Gen Z doesn’t have to be overwhelming. Acceleration Partners offers comprehensive solutions to help brands navigate the complexities of reaching this generation effectively.