Rob Hanlon, global partnerships director at Readly, looks at how brand partnerships can help engage the digital-first demographic of 'Gen Z'.
Every brand thinks they’re down with the kids, but are they really? I mean IRL?
According to an Ofcom report released this year, nine out of ten 16-24-year-olds in the UK get their news primarily from digital sources.
That’s an entire age demographic—better known as ‘Gen Z’—who are digital-first when it comes to keeping up with the world. And by 2029, this generation will make up one-third of the population by 2029.
It’s clear that companies in a range of ‘traditional’ industries—banks, energy and utility companies, and telecommunication networks— are struggling to connect with this generation. Take this recent report from McKinsey which tells telcos they have to act now with a “holistic, future-back approach to transformation” if they want to match the seamless on-demand content and user experiences of Gen Z favourites like Twitch, Uber, Netflix, TikTok, and Youtube.
For those playing catch-up, I believe brand partnerships can be part of the solution in how to cut through and engage this up-and-coming but hard-to-reach demographic.
Here are four reasons why partnering with technology and content companies can deliver the kind of brand experience, data, insight, and, crucially, technology that resonates with Gen Z - and deliver your brand experience around the way they choose to consume information.
1. They bring solutions at speed
Many traditional brands are leveraging partnerships with these companies to help with their digital transformations because they lack the expertise or insight to do everything in-house. As well as bringing in expertise, technology partners will supply ready-made, thoroughly tested solutions that can then be plugged in, rolled out, and scaled at speed. For example, many partners work with Readly because our APIs are a natural fit for them and can be implemented quickly—sometimes in as little as two weeks.
2. Partnership can mean better personalisation
Last year, Salesforce reported that 66% of US consumers expect companies to understand their unique needs, yet 66% also said they’re still treated impersonally. A bonus for companies entering into brand partnerships is that they can pave the way for a data exchange that can help them personalise their customer offers. For example, our partners are able to get tremendous insight from knowing what their customers read. That insight can help shape offers, ad campaigns - even in-store experiences. Large data sources like these from your partner can be a goldmine to any brand looking to personalise its digital customer experience around a particular - and in Gen Z’s case - very demanding demographic.
3. Partners can be a fresh pair of eyes and an extra pair of hands
As well as external technology solutions, a partner also brings an external perspective—so helpful to any transformation project. At Readly we’re fortunate to have a growing development team of more than 30 engineers, who can dedicate themselves to the task of creating new solutions. Using a partner’s resources to help develop custom integrations and experiences can make all the difference when targeting a niche demographic like Gen Z.
4. Partnerships make for better customer offers
I’ve recently been working on a project with Barclays to make their services more Gen Z-friendly. Part of this involves extending their subscription pack to include a Readly subscription, along with mobile and travel insurance, that customers can pay for in one go via their Barclays account.
Bringing together the services customers use and pay for in different parts of their lives into one seamless subscription like this reduces the hassle for the user, freeing up time that might have been wasted on boring ‘life admin’.
What’s more, tying these digital accounts together reduces Gen Z customer churn, because they won’t want to lose the benefits and incur the hassle that comes with exiting their bundle of offers.
Ultimately, Gen Z wants what any other customer wants - mobile experiences that are as smooth and speedy as possible - perhaps just packaged in a different way that fits their lifestyle and expectations. It’s non-negotiable for this newest generation of on-demand consumers who’ve grown up being able to watch their favourite film, order their favourite meal, and buy their favourite brand in a few short taps. Blending the newest and most useful technology and content experiences from a partner into your Gen Z offer goes a long way to achieving this.