Justin Bieber: What Can Entrepreneurs Learn From the $80m Youngster?
Branding expert Kubi Springer looks at what entrepreneurs can learn from the global superstar.
Justin Bieber is one of the most recognisable and successful artists in today’s music industry.
Not only has he sold 15 million albums, grossed $150 million on his latest tour, pulled in $100 million with his Biopic film and launched a fragrance that retailed at $60 million in its first six months, Bieber also has 43 million Facebook fans and 21 million Twitter followers (that’s 3% of Twitter’s infrastructure dedicated to supporting Bieber’s account!).
But what can the average person who is trying to build their brand and become a success actually learn from this global superstar?
1) Use social media - The key is to seek consistency over perfection.
When trying to build your following you need consistently to have material out there. When Bieber started out as a young boy he simply used his mother’s basic camera to take footage of him singing and put it up on Youtube. Perfection was in the content, not the production of the videos, and the content is what garnered momentum as he consistently fed his fans with new material. Even today he is constantly tweeting and engaging with his fans on song choices for his latest album.
What I have noticed with many budding entrepreneurs is that they want to perfect the presentation of their social media materials rather than concentrating on how frequently they get good material out.
The key is to find your fans (your market), produce good content, feed them what they need and feed them consistently. You need to build a strategy that allows you always to have materials out there; whether its tips, latest news or general information about your specialism, you need to keep feeding your market in order to grow your following. However, a note of warning: make sure what you’re feeding them is always on-brand.
2) Diversify your brand - Once Bieber had dominated social media the youngster started to invest in tech start-up companies.
According to Forbes he has invested 2%-5% of his net worth in over a dozen start-ups including Tiny Chat, Stamped, Sojo Studios and Spotify.
Bieber is not doing what most celebrities do and simply going down the equity-for-endorsement route; instead he is taking it a step further and actually investing in brands that will not only make him money but will increase his brand presence. How is he doing this?
Bieber is investing in brands that he can directly sell to his market…all 43 million Facebook fans. Bieber understands that his market is teenagers; teenagers are always on social media and tech companies are the vehicles used to drive social media and reach young people. Thus by being an investor in this sector he is guaranteeing continuous brand presence as well as a brand portfolio that will financially succeed.
The lesson for you as a budding entrepreneur is to work out what market you serve and build your brand portfolio with investments that are vehicles to getting you closer to that market. The important lesson here is that each brand in your brand portfolio should reinforce the other, cross sell to the same market and go beyond just making you money.
Good luck with building your brand.
Branding expert Kubi Springer has delivered campaigns for some of the biggest clients in the world including: Nike, Justin Timberlake, Rio Ferdinand, New York Fashion Week, The Brit Awards, Atari Games, MTV, Eminem, Mariah Carey, Blackberry and L’Oreal. Kubi was the youngest Head of Marketing and Brand Communications for the MOBO Awards and five years later was appointed as the Director of Brand Communications and Commercial Development for new Sky Entertainment Channel, OH TV. Within just one year she took the company website from 200,000 to 2.9 million hits. In 2012, Kubi expanded her team and services to include Brand Management Campaigns, Brand Development Coaching and Branding & Marketing Training. With headquarters in London, SheBuildsBrands is a boutique brand management agency servicing clients in the UK and abroad.
Image courtesy of Adam Sundana.
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