Gen Z, true digital natives, are changing consumer culture. They have used the internet, social media, and mobile systems since childhood. This constant exposure has created a hypercognitive generation that can easily combine virtual and offline experiences.
The way Gen Z consumes is unique. For them, consumption is about access, not possession. Their purchases are more than transactions—they express their identity. Like curating a social media brand, their digital upbringing shapes this perspective. Every choice they make reflects their values and identity. They prefer sustainable brands and products due to their discerning nature. Gen Z values sustainability and often pays more for it.
Businesses should also note Gen Z’s personalisation preference. They prefer products that match their tastes and values. They also prefer political brands. No longer about what the brand sells, but what it represents.
Gen Z’s consumption carries ethical implications. The brands and products they choose reflect their personal preferences and their deep political and social concerns. After Gen Z, this generational shift is spreading to other age groups, challenging norms and reshaping the market.
Business implications are transformative and difficult. Companies must adapt to the changing consumer landscape. The main task is to recognise and adapt to changing dynamics. Mass production and scale have given way to personalisation in consumption. The trend emphasises the need for brands to live their marketing values. It’s no longer about selling; it’s about meeting consumers’ values, beliefs, and ethics.
To capitalise on this transformation, businesses can use personalised and interactive videos. Gen Z values personalised experiences, so such content can blend the offline and virtual worlds in a genuine, engaging, and valuable way. Instead of marketing to Gen Z, businesses will converse with them and build lasting relationships based on shared values and respect.
Engaging New Generations with Personalised and Interactive Videos: Strategies for Brands in Superannuation and Banking
Generation Z and the upcoming generations are driven by authenticity, personalisation, and ethical considerations. For traditionally conservative sectors like superannuation and banking, adapting to these shifting paradigms might seem challenging. Yet, personalised and interactive videos can be a potent tool in bridging the gap and engaging these digital natives. Here’s how:
Storytelling Over Selling:
Instead of direct pitches about financial products, brands should focus on storytelling. Narratives could revolve around how superannuation or a specific banking service positively impacted someone from Gen Z.
Highlight stories of younger individuals planning their financial future, emphasizing the values and ethical considerations that influenced their choices.
Interactive Financial Journeys:
Use interactive videos to create mock financial scenarios. Allow viewers to make choices, “choose your own adventure type” simulating potential financial decisions and seeing the outcomes.
For example, a bank could create a video journey of a young individual aiming to buy their first home, navigating through various financial scenarios, challenges and decisions.
Personalised Financial Tips and Updates:
Use data analytics to provide personalised financial advice through videos. If a customer has shown interest in investment banking, share video content that provides investment tips tailored to their profile with data that is only talking to the member.
Superannuation companies can produce videos explaining how small, regular contributions during one’s early 20s can lead to significant savings over decades, emphasizing the power of compound interest.
Highlight Ethical Practices and Sustainability:
Recognising the value Gen Z places on ethics, create videos that detail a bank’s sustainable practices or a superannuation fund’s ethical investments.
An interactive video could allow users to explore various “green” projects a bank is funding or delve deep into an ethical investment portfolio.
User-Generated Video Content (UGVC):
Encourage younger customers to share their financial success stories and integrate these into video campaigns for your brand. It offers authenticity, a key element in engaging Gen Z.
A young customer explaining how they navigated their first loan or managed to maximize their superannuation benefits can be compelling content.
Virtual Financial Workshops:
Host virtual workshops on topics relevant to younger demographics, such as managing student loans, first-time investments, or understanding superannuation with explainer videos
Use interactive videos during these sessions to keep participants engaged, such as quick quizzes or decision-making scenarios.
Augmented Reality (AR) and Virtual Reality (VR) Experiences:
The future of video isn’t just on the screen. Banks can create AR experiences where potential homeowners can ‘walk through’ their future home, understanding mortgage implications at every step.
VR experience can show superannuation firms future scenarios based on contribution levels and investment choices.
Since the new generations demands more than just services – they seek engagement, authenticity, and values-aligned experiences. For superannuation and banks, personalised and interactive videos plus AR, VR and mixed reality experience, offer an unparalleled opportunity to meet these demands, fostering a sense of trust and shared purpose plus engagement.
Ready to engage new generations with personalised, interactive videos or mixed media? At Creativa we have years of experience creating these products and working with superannuation’s and financial institutions to realise your vision. Contact us today to transform your brand’s audience engagement and start your authentic and impactful brand storytelling today!