How to inspire Gen Z to spend with your brand without stepping into cringe?
This past weekend, The Female Quotient hosted a panel at SXSW and a question came up, “How do you avoid stepping into cringe? Here is a summary from all the panelists using one word or a phrase: “Authenticity.. Vulnerability. Purpose. Lift others when you rise. Be yourself, not the algorithm. Don’t get muted.”
I loved that it came up because it aligns so beautifully with what I am consistently hearing across so many industries and questions that are being asked in different ways, it always comes back to the same answer. What is top of mind with leaders,executives, and founders is a sense of what was working before is no longer working.
To succeed in business, there is only one way: BE AUTHENTIC.
As Gen Z continues to grow up, and Gen Alpha not far behind, they are leading the charge spending.
McKinsey recently shared their latest research with ConsumerWise: “Gen Z consumers in the United States say beauty products are among the categories they intend to splurge on most in the next three months (behind only groceries and tied with apparel). We expect the beauty market to grow by 6 percent a year, reaching about $580 billion by 2027.”
But, the question remains, how do we tap into the Gen Z market share as brands?
Are you currently engaged with the Gen Z market? Do you need to rethink your messaging?
How can you stand out in a noisy market such as beauty and well being?
The ConsumerWise report from McKinsey shares the following: “While the data are useful, there’s one thing brands must deliver if they’re going to build lasting relationships with Gen Zers: a “meaningful, authentic, and collaborative connection,” Weaver and team find. “Beauty leaders must ensure their brands grow and mature alongside Gen Z while also being seen as a positive force for change and innovation in how Gen Z experiences beauty.” A brief that’s more than skin deep!”
How do we do that?
Here are some contemplation that came through around how to develop a deeper sense of authenticity around your brand:
Know Thyself: Understanding the brand's core values, mission, and identity is fundamental. This requires deep and meaningful introspection to uncover what truly drives your brand beyond the surface level mission, purpose, ethos, and making profits.
Consistency Across Touch points: Once you Know thyself,ensuring consistency in messaging, visuals, and actions across all touch points reinforces authenticity. This is part of your brand equity. The stronger your brand equity, the more it fosters trust and credibility. How do you measure this? Look at your MRR.
Humanizing the Brand: Highlighting the human elements of the brand, including your brand founder story and values. Connect with other. People relate to people, so showcasing the human side fosters authenticity.
Walking the Talk: Authenticity is about actions, not just words. The brand must live up to its promises and values consistently through its products, services, and behavior.
Adaptability and Evolution: Authenticity doesn't mean stagnation. A brand can remain authentic while evolving and adapting to changing market dynamics and consumer preferences.
Authenticity lies in staying true to core values while embracing change.
Authenticity will attract those who resonate with your message. It is an energy that is felt and not a single algorithm can destroy it. Many times, consumers will know, but they can’t put into words what they are feeling… when it feels good, its authenticity and magic. When it doesn’t, customers know something is off, and because there are so many choices out there, they will find another brand.
Doesn’t matter how big or how small your brand or business is. It is the same.
This is the power of authenticity.
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To your success xx