The evolution in consumer behavior of the “Z” and “Alpha” generations has brought with it new expectations of brands and their products. Today, these generations expect brands to deliver on three key fronts:
Instant Gratification:
Young consumers demand to be delivered what they want, and they want it now. The culture of instant gratification, driven by the streaming economy and fast delivery, is putting increasing pressure on the infrastructure brands need to respond to these expectations. Companies must adapt to meet this need for immediacy by optimizing their processes and services for faster and more efficient delivery.
Entertainment:
In a world where anxiety and mental health issues remain a concern, entertainment has become an essential need for these generations. Brands must find ways to offer escapes and fun times to help their consumers cope with difficult times. Recent studies, such as those conducted by GlobalWebIndex, show a continued increase in the consumption of online content, especially humorous videos, highlighting the importance of providing entertainment as a form of emotional connection.
Watch out:
Social responsibility is no longer a simple purpose that brands can advertise without concrete actions. These generations are looking for brands that demonstrate, in a tangible way, their commitment to the well-being of people, the community and the planet. Brands that align with these values through authentic messaging and responsible actions are the ones that achieve the greatest affinity with young consumers.
Implications for the Future of Sponsorship
All of this means that, in the near term, sports and entertainment properties that rely on sponsorships will need to adjust their commercial propositions and assets creatively. Sponsor brands will need to find innovative ways to meet the expectations and values of the “Z” and “Alpha” generations. This will involve developing more personalized and relevant experiences that generate engagement and build a closer relationship with consumers.
At SMART Sponsorship Evolution we have argued over the past few years that many of these “new” demands are actually transformative communications opportunities. When managed properly, these opportunities can generate greater consumer engagement, trust and loyalty, establishing more authentic and lasting relationships.
In today's environment, brands that are able to integrate these expectations into their sponsorship strategies will be better positioned to effectively connect with the younger, more dynamic audiences of our time.
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