We can learn a lot from young Taylor Swift. Love her music or can’t wait for her fifteen minutes to expire, she is one savvy marketer. Swift maintains control over her entire musical and public life. Her recent spat with Spotify proved that she has serious muscle when it comes to the music industry. No artist can exist in a vacuum, though. Her fans (called “Swifties”), are among the most rabid out there. So how does she do it, and what lessons can we learn from her brilliant strategies?
YOUR CUSTOMER IS EVERYTHING
Taylor Swift regularly trolls her fan pages to get a sense of what her audience is talking about. I can only imagine how time-consuming this practice is, but she does it. Personally. She often comments directly to fans, which serves to make her more human and approachable. Taylor Swift uses social media in the way it was meant to be used. It’s a unique forum in which to engage directly with your customer base. Her interactions are not overtly directed at selling more albums. She is genuine in these engagements. Her brand is the girl next door, every girl’s best friend, every boy’s dream. She’s the cheerleader who hangs out with the goth kids.
When you’re putting together your brand, whether you’re a celebrity or a local shop, break down your identity to its essence. A lot of the basics can be developed by acting like you’re in high school. Although your customer base may be long past their senior year, there are lasting societal breakdowns that begin and are most evident in high school. Does your brand appeal to the brains, the jocks, the geeks, the freaks, the princesses? This is a great way to begin thinking about your customer—think about The Breakfast Club.
But unless you’re selling a high school product, don’t make this your final analysis. Your customer is complex. Savor their layers. Engage with them. Find out what else they do. What else do they like? All media is social media. When you engage with your audience, you develop a relationship. That has tremendous value.
DON’T BE AFRAID TO CHANGE THINGS UP
Taylor Swift, the country music darling, make the cross-over to pop with her latest album. Some would argue that her version of country was already pop, but the media had a field day with her potential for failure. Swift proved everyone wrong and that infernal “Shake It Off” is now perpetually engrained in our gray matter. (I know you’re singing it right now).
Your business is fluid. What worked today will not work tomorrow. Sometimes paradigm shifts are caused by technology. Sometimes competition. Whatever the reason, you need to be ready to change. Taylor Swift’s transition was probably just a step to the left. But the ripples it’s caused have made it seem monumental. Give yourself the freedom to adjust. Change is good. It’s essential. Otherwise you get left behind. Sometimes change involves something minor. Other times, it’s a major brand shift. Look at McDonald’s. The mega-giant tried-and-true ubiquitous brand is being rebranded. Competition has led them to make changes. Will it save their business? Remains to be seen. Will the changes you make save your business? If you’re smart, do your research, talk with your customers, look at your competition, then you’ll at least be making an educated change.
BE GENEROUS
The now-legendary Taylor Swift gift barrage that’s been lighting up social media is a cardinal example of how giving away can build your brand. From paying off student loans to hand-delivering Christmas presents to her fans, Swift is doing double duty. She’s connecting with her fans in a deeply personal way, and she’s doing it publicly.
True altruism is anonymous. When a business donates or does good work, their reward is prestige. It’s the reason most businesses engage in charity. Donating time, money, resources, it all has a public impact. The fact that Taylor Swift recorded each of these donations was simply a wise business decision. Give things away in unique and public ways. If your staff is donating an afternoon to a Habitat for Humanity build, have someone record the event and post it on your social media. If you’re donating product to a shelter or a Boys & Girls Club, make sure you have your logo clearly visible. Generosity by a business is often considered newsworthy by local media. TV, radio, newspaper, they eat this kind of stuff up. Making your donation or gift a public event allows your business to obtain a bundle of free publicity. The cost of the donated goods, your staff’s time, all of it is well worth the sacrifice if you go public with it.
DON’T SHY AWAY FROM THE BAD STUFF Taylor Swift has a propensity for having bad relationships. What 24-year-old doesn’t? The difference with Swift is that her relationships are very public. Her breakups top the entertainment news. Swift, of course, has had the last laugh by owning the charts and download sales of her song, “Shake It Off”, which is all about not worrying about what everyone thinks. She owns her mistakes, and the public has forgiven her for any perceived wrong.
Bad stuff happens. Brushing it under the rug or trying to put some sort of spin on it just makes your business look shady. Own your mistakes. You’re human. Your business is run by humans. We are a fallible bunch. People get that. They respond to humility. You don’t have to drag out your dirty laundry for every interaction, but be honest and solve the problem. The kind of double-speak in which many corporations engage just makes their customers frustrated. Own it. Your mistakes belong to you, and they’re how you grow.
HOLD ONTO WHAT’S IMPORTANT
Seems simple enough, doesn’t it? When you look at Taylor Swift, you probably don’t think CEO. Sexist or not, our first impression of her is likely dismissive. Taylor Swift’s net worth is estimated at $200 million. When you compare that Michael Jackson, ($350 million) and Paul McCartney ($800 million), that’s not too shabby for a kid. The big difference between Swift and other artists is that she owns herself. She recognizes that her public persona is a commodity with tremendous value. Taylor Swift is the CEO of Taylor Swift.
As a business owner, you will face tough financial times. No matter what market you’re in, there are ups and downs. You may be tempted (or required) to bring on investors or outside financing. Remember what’s important. Don’t give away the store. Investors are savvy and will very clearly recognize what’s of most value in your company. That’s what they want. It may not be your product. It may be your process. George Lucas famously took a decrease in pay and “points” on Star Wars in exchange for merchandising rights. As anyone who was a kid in the late ‘70s on up will tell you, Star Wars merchandise is king. You may be required to make tough decisions about the future of your company. Hold onto what’s valuable. You’ll be grateful.
Don’t dismiss Taylor Swift as some bubble-headed pop star. We can all learn a few lessons from her. And since the haters gonna’ hate, hate, hate, it wouldn’t hurt to shake it off.
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