Trending
In the data that Simon Kemp creates, (it's free to download and there is no gating) and can be obtained here, we see that more than two-thirds of the world’s population is now online and that the average person spends, 2 hours 23 minutes, a day on social media.
The research also shows that people under the age of 35 tend to do their brand research and “search” on social media first and then move to Google or Bing. Where as people over the age of 35 tend to use Google and Bing first and then move to social media.
This is likely to become even more fragmented when AI becomes a choice for search. For example, I recently booked a holiday, using ChatGPT, without the need to visit a suppliers website.
“Professionals born 1981 - 2012 make up 71% of business buyers according to Forrester. Forrester finds that these Gen Z and Millennials are growing in influence and approach buying differently than Gen X and Boomers. ”
What key changes are Gen Z and Millennial making in their buyer behavior?
This article is based on a marketingProfs article which looks at some data, Anteriad and Ascend2 surveyed have put together. The sample is 250 people. I have to be honest, if you read the report, it very quickly turns into a pitch, but I will pull out of what i think is useful.
Gen Z and Millennial are increasingly using social media for research and decision-making, conducting research online, growing the size of the buying group, becoming more price sensitive, lengthening the purchase process, and valuing peer reviews.
If you think about it, you should be surprised. We all know Google is a game and people spend money to game the system or buy their way. Put in the search “what is the best CRM system in the world” all the CRM vendors will buy the search. Put the same search on social media and you get a different more nuanced response.
As you can see from the table, that while 71% of Gen X are comfortable buying online, this goes up to 80% for Gen Z and Millenials.
You can see the amount of online research goes up from Gen X to gen Z and millenials.
Related: New Method to Create Engaging Case Studies for Prospects