Generation Z has been handed a bad reputation when it comes to finances and their interest in personal finance. We have been led to believe that this generation is irresponsible and has no plans for their financial futures, but this is far from true.
People in Generation Z want to have good financial futures. However, many feel they haven’t been given enough education about that. An overwhelming number of Gen Zers think that they should start learning about financial planning in high school – yes, high school – and those schools don’t teach this subject adequately. In short, they’re hungry for good advice and education in this area. That’s where you come in.
It’s time for finance marketers to think about developing a content marketing strategy around finance management and planning for Gen Z. This is a huge and enthusiastic audience for marketers who can deliver relevant, engaging content on the subject. Since we’re a copywriting company, I’m going to focus on your written content and suggest ways that you can use tools like your blog or social media to engage a young audience with finance content. Here are five key content areas you should be focusing on when marketing to a young audience:
Retirement Planning
Most Gen Zers have no retirement plan, but that’s not by choice. Few have any disposable income, so they lack the ability to save. That said, a majority of Gen Zers still want to learn about various savings options, so they are prepared when they have the opportunity to utilize them later.
This is a subject that this audience takes seriously, so don’t discount it as part of your overall content strategy. You can teach them about saving money and also educate them about overspending. Gen Zers don’t spend money at the same rates as previous generations in some areas. They have their own set of issues, though, when it comes to money management. Their spending habits do often gravitate toward higher-ticket items like smartphones, expensive headphones, and so on.
Incorporate education about better spending habits into your retirement planning content. Offer advice on how to have some creature comforts while gradually working toward having a few dollars to save or invest. Then, use your best judgment on how to approach more complex subjects and present them with a sense of urgency. These are things to think about now. Make that point clear in your content.
Home Ownership
Another misconception about Gen Zers is that they aren’t interested in home ownership. But just like with many other issues, it’s a matter of means, not interest. A staggering 70% of Gen Zers say they want to or plan to own their own homes eventually. Types of mortgages, interest rates, and credit are prime topics surrounding the subject of home ownership that you should be tackling in all your content.
Remind your readers that home ownership is within their reach if they educate themselves and make good decisions in matters of money management. This opens the door to introduce them to different concepts and start expanding your content offering around what you’re already teaching them.
Credit
Gen Zers are also more aware of their credit ratings than past generations. Content on how to build and maintain good credit is a good starting point. You can then move into more pointed subject areas, like choosing a credit card, lines of credit, loans, etc.
Keep in mind that this age group has a number of misconceptions about credit. A majority of Gen Zers think they need to maintain small balances to build credit, for example. They also believe that having more than one credit card can harm their credit. These things aren’t inherently true, and they need a competent voice to teach them better.
Try developing engaging content that provides a thorough, modern education about credit. Many of the misconceptions of Gen Zers come from parents and older relatives. If your content steers them in the right direction, you will establish a level of trust with your audience that keeps them liking, sharing, and engaging.
Debt Management
Student loan debt alone can have a crippling effect on a person’s finances. Gen Zers are feeling the pressure more than any previous generation to stay ahead of debt. Many will find themselves mid-career or older before paying those loans in full. Along the way, other forms of debt are likely to creep in as well.
Consider developing content that prepares a Gen Z audience to deal with the eventuality of debt management. This is where some of the greater concerns with credit arise, so that leaves the path clear to introduce even more involved topics on that subject in this context. Try to keep the conversation positive. This is a scary subject for many of your readers. You want to assure them that their financial storms are manageable and provide good insights as to how to weather them.
Buying and Spending Habits
Gen Zers are remarkably aware of what things cost, and they are also very price-conscious. Their tastes can be a little expensive, but they are also remarkably thrifty in many areas. They take a distinct give-and-take approach to have the things they want and need. They are very aware of their spending as well.
The less we spend, the more we have to save and invest. Keep that concept in the spotlight when approaching the subjects of buying and spending. They know how to find deals. What they need is someone to help them assess needs and meet them first. Planning for the future is a definite need, so financial planning that involves good spending habits should also be a priority in your content.
The above ideas just provide a thumbnail sketch of the types of content you should be creating to reach this age group. If you need help developing quality financial content for this or any other niche, contact us. At BeezContent, we have a talented team of finance copywriting professionals who can expand all of the above and more into engaging, relevant content that gets results.
