Two thousand young people ranked the top ten modern business icons who inspire them in a recent NatWest survey, and the list was dominated by creators including Molly-Mae Hague, KSI, Steven Bartlett, Joe Wicks and Zoella. It is proof that Gen Z not only trust the business acumen of influencers, but see them as the pioneers worth aspiring to.
It is no secret influencer businesses do well when the creator is able to tap into their following’s interests and desires. Take beauty brand Vieve, where founder and influencer Jamie Genevieve recently sold a minority stake in her business, founded in 2020, for £5.5m. Fitness creator Krissy Cela’s brand Oner Active achieved £26m in revenue in 24 months, while YouTube collective Sidemen’s XIX Vodka recently became available in 300 UK Morrisons stores. Gen Z – which has grown up with the internet and influencers – has clearly taken note.
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The survey revealed young people find business icons who openly share their journeys on social media to be more inspiring. Look at Grace Beverley and Ben Francis, who have both built hugely successful businesses while posting every step of their brands’ growth with their online audience. Sharing business milestones and achievements as well as challenges is clearly important to build brand loyalty among Gen Zers, and something to note for startups and established companies alike.
#SmallBusinessOwner has almost eight billion views on TikTok, and is filled with entrepreneurial advice, ASMR packaging clips and budgeting videos. NatWest found 64% of young Brits aspire to building their own company, and business models pioneered by influencers are likely to be the inspiration.
Adapting to social media trends, utilising creator partnerships, sharing company updates and forming close relationships with the consumer base are all tricks up influencers’ sleeves that will inspire the future generation of business owners. They could also help increase the relevancy of established brands keen to compete with TikTok-focused challengers who are rapidly gaining market share.
By Dina Zubi, news and features writer for CORQ. Picture credit: KSI via Instagram.
