The Business of Show
I don’t know any of these people but I admire them from afar. I don’t love them and sometimes dislike them, but I admire their business acumen especially at a young age – Kim Kardashian, Madonna, Beyonce and Lady Gaga. They are not all in what I consider show business, but they are in the business of show. Make no mistake – it is a billion dollar business. What can we learn from these women who have turned themselves into a brand and a brand into a business?
- Marketing is everything and everything can be marketed. Kim Kardashian, the selfie queen, is the best at this. She, along with her entire family, understood and leveraged marketing platforms to make millions. Everything she does seems spontaneous; however, a lot of planning and time goes into every move and it is positioned to her audience. If she picks up a can of juice, you better believe that she has a deal with the juice company. You can mimic and learn from Kim in your business. Send out press releases about your latest activities. If you are attending a conference, put it on your social media page. Are you present on more than two social media platforms?
- Target marketing is critical. These artists intimately know their audience and caters to only them – they never go outside of that target area. The songs, clothes, food and endorsements they make are all geared towards their audience. When Beyonce makes a movie or goes on tour, her fans (or BeyHive) ensures that it is sold out in pre-sale. As she goes thru different cycles of life, she attracts a difference audience, like moms, and markets to them. How well do we know our customers? We should advertise where they read or surf the web. I am sure we take customers who are not in our target market and has regretted it. Stop.
- Never lose sight of your objective. Lady Gaga has two audiences: The LGBT population and people who are different and sees themselves as such (called Little Monsters). Her goal is to inspire them to accept themselves and feel like they matter. Her song, “Born This Way,” spoke directly to that audience. Her clothes, like her popular meat dress, speaks to this “misfit” audience. What is your business’ objective and do you stay on track?
- Turn what you do into $. Madonna is not the best singer in the world, but she has amassed a fortune singing and touring. How did she turn that into a business? She creates a different persona in different stages of her life and markets that. Her videos and tours are engaging and outrageous. She picks topics that are taboo and edgy and promotes that – her singing is simply the platform she uses to market her views. If we have products or services that are not our best, we can pair them up with an idea or cause that promotes them.
- Your customers can reach you on all digital platforms. You can find these celebrities on every digital platform (even LinkedIn). They are connected to these platforms as individuals and each part of their businesses has a separate page. They are present on channels that are established as well as up-and-coming. Additionally, they are connected to all their celebrity friends, which extends their reach even further to their friends’ audiences. Do you have a Tumblr or Instagram account for your business? Are you and your business as connected as you can be? Are you connected to your clients, customers and vendors? How can you immediately extend your reach?
There is marketing and there is mega-marketing. Marketing is the basis of these celebrity businesses – they are nothing without it. We, too, can up our marketing quotient to take our businesses to the next level. Be strategic. Be focused. And best of all, do it – turn your business into a star!