The oldest generation Z are getting out of college and into the working world. And the fact is, for the next three decades, almost all of the world economy will be run by generation Z. The question however is: Are their tactics and strategies going to be the same as other previous generations? Is their economy going to be run the same way as other generations’ economy? The short answer is NO. And the long answer is why I am going over Today’s article – 3 Technologies That Will KEEP Gen Z Businesses RUNNING. I am focusing on technology because the truth is, generation Z is a tech-savvy generation. Almost everything around them is influenced by the ever-growing advancements in technology. Generation Z found technology in their world. They embraced and grew up with it. Therefore, as technology continues to grow, so does generation Z.
So, let’s get into the 3 most important technologies that are going to be key players in the generation Z economy.
1. Web Technologies
The internet and the web is not a new technology to the world at all. It however is a critical component to the world economic growth. Especially today. More than ever before, a lot of businesses today are shifting to e-commerce and online. And the reason is simple. A lot of people today spend a good amount of time online and on the internet. For example, a random generation Z has an average of 4-hour screen standby time on their smartphones per day. That basically means, the world’s largest marketplace today is found on social media and the world wide web. Which translates that: A lot of generation Z’s buying and selling will always continue happening inside their smartphones and devices.
The main web technologies that are going to influence generation Z businesses are websites and social media. For as long as the world wide web is evolving, the trend will continue to grow. Right now we are talking of Web 3.0. Social media will keep growing and the internet will also keep growing. So, the generation Z that will get a website for their business will be millions of miles ahead of the rest that don’t. And so does the ones on Instagram, TikTok, Facebook. As long as the internet and social media are not broken, this is one area that will keep generation Z businesses going.
2. Data Technologies
One of the most interesting facts about generation Z, is that they are living in the fourth industrial revolution. And one of the most spoken topics of this revolution is the Power of DATA. Data is the newly-invented wheel. And to put it to the exact Today’s context, DATA is the new oil. While other generations in the fourth industrial revolution lived at a time when DATA was the future, the generation Z are living at a time when DATA IS THE PRESENT. It’s the NOW. The person who knows how to use data Today, is in control of their business growth.
If there is going to be one biggest competition in generation Z businesses, it’s going to be on who knows what data they have. And if they know the data they have, do they know its value? Do they know how to use it in the economy? For most of the world economy Today, a lot of automation is happening. Many businesses are incorporating big data technologies and artificial intelligence into their operations. With the continuous rise in use of technology, social media and the internet, generation Z are always going to have the largest data in their hands. Therefore, a lot of their businesses (if not all) are going to be influenced by their ability to handle this data.
3. Digital Marketing Technologies
The internet and social media is with no doubt going to be one of the key factors of production in the generation Z economy. Almost everything is going to happen in the digital space. Like any other business environment, therefore, there will be need to understand its term of operations. The ability to use digital marketing technologies will be of key importance to every generation Z business.
The digital space involves the internet, the web and social media. And the most common marketing strategies today are social media marketing and affiliate marketing. So, digital marketing technologies are always going to play a key role in the generation Z businesses.
That wraps up the article. Let me know what you are thinking in the comment section below. And if you find this article insightful, share it with your friends and family, because they will love you for always caring about them.
