The generation Z is coming with full force to take their rightful place. But how can we all join their moving train? To them, their strategies are topnotch. Better be on the same track with every one of them, or they may bundle you and throw you into their so-called dated group.
Before you start to shiver, ask yourself, who are they? Generation Z is those stubborn ones that were born in the mid-1990s. In places like the US, they make up 25.9% of the population, and they also keep the economy of America running – to some extent. Don’t be too fast buddy, you can’t afford to ignore this group of people – sooner than you think their numbers will increase, and the $44 billion they contribute to the US economy will only be a starting point.
All Insurance organizations should go back to their drawing board and do the following:
- Learn how to dance to their tone.
- Learn what pleases them so that you can be selective with your words to them.
- Master their insurance shopping habits.
- Learn how to address their daily needs.
We will address these issues one after the other. Before you start drafting your new plan on how to get some brothers and sisters to dive into your business net, you need to know their mode of operation.
Behaviors of the Generation Z
Attentiveness Is Always an Issue for Them
Gen Z was born and are living in a world where continuous updates have become the order of the day. Sometimes they are so attached to the apps on their phones that they forget what time it is.
They Work Harder
They are all over the place. Balancing work and play is fun to them. From creating a document on their laptop to researching on their phone, as well as watching the TV and chatting with a friend at the same time. This Generation keeps any office they touch on the move with their multitasking.
They Don’t Like Doing It Later
Tomorrow might be too late, so they want it now. They prefer to work and study online if there is a need for that, rather than taking the higher education route that ties them to one particular hall – year in year out. Gen Z is –
- Fast learner
- More efficient
- In their tender minds, following the traditional route is a no-go.
- And when an opportunity comes knocking on their door, they make the right move and grab it with their two hands.
They Are Entrepreneurs
They are hardworking, fast paced, good to go, and their computer brain is as calculative as a time machine. Above all, they are all dreamers hoping to conquer tomorrow and anything that gets in their way. Today, the level of networking and high tech developments is shaking the entire world, thus awakening these youths and showing them the many routes to the throne.
They Are Global
They are today’s time travelers – touring around the world like dirty pirates. Who would blame them? There coming gave birth to the modern age where the internet keeps us in one big room. They have mixed thoughts because of their diversity. Since they don’t stay close to the TV, their phone addiction is soon changing the marketing strategies and advertising methods online.
They are in love with the world at large – but they don’t play with two things: Health insurance and privacy.
1- Health Insurance
They are as selective as it gets. Things like vacation trips to the romantic city of Paris does not excite them in any way since they are always on the next flight to France with their phone. To them, balancing their work life or asking for a paid time off is never in their list of things to do. 70% of them go for jobs that cover health insurance. Privatization of health insurance is trending worldwide, so Gen Z is beginning to notice the importance of health coverage.
2- Privacy And Security
These days privacy is a crucial aspect of life. Nobody wants to turn him or herself into a cinema. Social media scandals can burn down anyone or brand in just a few seconds. Gen Z is the smart ones – they know these things and are willing to learn from the past mistakes of others. Any specific story they share goes to particular people on a given social platform. To keep the Gen Z glued to you as an insurance organization, be it travel insurance or contents insurance, you must pledge to guard their sensitive data.
3- Online Support
Gen Z is not different from every other person out there. Meeting with Gen Z doesn’t have to happen in a physical office. They prefer independent agents who are familiar and up to date with social media tools like Skype or Google Hangouts. So, to attract a Gen Z and keep them for a long time, you should have a reliable internet connection to chat with them in person. It makes them feel like they are part of the show.
Be extremely careful when you are dealing with this group of people – they are always out of patience. Remember they were born in a computer generation where one research can take you to different web contents. Most times they outrun their shadows – so it’s possible they might have heard it before you even put it to words. So when communicating with them, go straight to the point by offering them a content that is both educative and informative as well.
Be Their Guide To The Future
When you help them with their needs, you stand to gain a lot from them in the future. Their population is already high and still increasing – so, as soon as they start getting new jobs – they start going for insurance. As such, you as an insurance agent must understand the insurance habits of Gen Z, and that money they are throwing around may be yours sooner than you think.