Of the countless hits that she has under her belt, one of my all time favorite songs from the singer, billionaire entrepreneur, and pop icon Rihanna, is a song called, Needed Me, off her eighth studio album, Anti.
And while the premise of the song actually refers to… let’s just say a different type of relationship; it’s the song’s chorus that pertains most to the relationship or lack thereof that 90% of today’s startups that go out of business have with Gen Z consumers, in which Rihanna chants, “You needed me.”
Make no mistake about it, regardless of how successful your startup may be at the moment, when it comes to Gen Z consumers—your startup will definitely need their business in order to survive and thrive.
A rewarding opportunity awaits your startup
Known throughout the world as the father of modern business management, many of the most successful startup entrepreneurs on the planet attribute a great deal of their managerial acumen to lessons they learned from teachings by the late Peter Drucker.
In his superb book, Innovation and Entrepreneurship, the famed author and business management consultant states, “What makes demographics such a rewarding opportunity for the entrepreneur is precisely its neglect by decision makers, whether businessmen, public-service staffs, or government policy makers. They still cling to the assumption that demographics do not change - or do not change fast.”
While the book was published in 1985, unfortunately, Drucker’s assertion still remains true today.
From a marketing perspective, far too many businesses are currently neglecting a demographic that according to a 2021 Bloomberg report, has $360 billion in disposable income. And that underserved demographic is Gen Z.
That mistake of neglect made by so many companies must be avoided at all costs by your startup. That’s because, as Drucker asserted, rewarding opportunities like an increase in revenue, gaining market share, and becoming a leader in its industry awaits your business if you make marketing towards Gen Z a principal priority.
However, there are also very costly repercussions that await your business if you choose not to.
What’s at stake for your startup
A funny thing about change is that when it happens, it could either work to your benefit—or to your detriment. But if you’re prepared for it, you’ll have a much greater chance of the former being the outcome. It is for that reason, marketing towards Gen Z consumers should be your startup’s main marketing priority at the moment.
Whether we like it or not, change is at our doorstep. And from a consumer standpoint, Gen Z is the driving force behind that change.
“Gen Z will influence the future of business in a massive way and eventually reshape business entirely.” Says Jason R. Dorsey and Denise Villa, PhD., authors of the book, Zconomy: How Gen Z Will Change the Future of Business—and What to do About it. “Anyone who studies trends, consumers, and employees knows that the youngest emerging adult generation is often the driver of the biggest change.”
So, in knowing that Gen Z will be drivers of the biggest change to the economy, as well as the direction of your bottom line, it is of the utmost importance that your company makes appealing to them paramount. And that begins by specifically marketing towards them.
Completing the mission
Hey, I’m no mind reader. But I’m sure at this point, you now understand just how essential it is to the growth of your startup to make marketing towards Gen Z consumers a priority at your startup. Now the only question is just how do you go about doing it. No problem, we’re more than happy to help you do that.
As the first marketing firm created specifically to help startups advance through contemporary culture-focused branding strategies and content marketing services—once your startup becomes a Decryption client—we’ll devise a marketing strategy specifically to help your startup become much more appealing to Gen Z consumers.
Don’t take on the mission of marketing towards Gen Z alone, contact us and schedule a client meeting—and we’ll complete that mission together.