I just read this on The Balancing Act's website and had to share! Love the people, the message and the post in general...
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Today’s celebrities aren’t just entertainers, they are brands and businesses. Here are 5 lessons you can learn from some of the hottest celebrities around:
Lady Gaga — Love Your Customers and They Will Love You: Lady Gaga loves her fans so much that she has nicknamed them (Little Monsters) and makes sure to acknowledge them often. This is a great strategy for business — it is much easier to market more products and services to your existing customers that are already raving fans than to try to find new ones. So, make sure your customers know that they are loved and keep telling them — they will buy more from you and advocate for you — loyalty is the way to go!
Justin Bieber — Go Niche: Many of us don’t understand the appeal of Justin Bieber, but we aren’t his niche — it’s tween and teen girls. They love him and he knows how to leverage that. Focus on a very distinct target market and know what that market cares about. I remember a very successful shoe store in Chicago that employed a similar strategy. They had only really cute guys working there, who flattered every female customer incessantly as they tried on shoes. That store did very well. Once you are solid in knowing your target market, find a hook that has a strong appeal to them.
The Kardashians — Strike While the Iron Is Hot: To say that the Kardashians have not been shy about exploiting their brands is like saying that fire is kind of hot. The Kardashian girls endorse clothing, perfume, diet supplements and more! What they know is that no business cycle lasts forever, so they are not shy about maximizing their potential while they can. The same goes for your business. Business cycles are shortening, so don’t be afraid to make the most of your opportunities while you are hot.
Chelsea Handler — Do it Your Way: You don’t have to recreate the wheel to be innovative, you just need to bring something new to the table. There are many late night talk shows, but Chelsea Handler has become the queen of late night by bringing a new authentic voice to the market. So, the innovation comes from the way that she approaches something that has existed for decades. Your business can bring a new marketing strategy, distribution channel or value-add to the market without having to come up with the next big idea.
Charlie Sheen, Lindsay Lohan (And Some Other New Celebrity Just About Every Day) — Even a Good Brand Can Become Tarnished: Even if you have something valuable to offer, if you are a jerk, eventually folks won’t want to do business with you. Tiger Woods, Charlie Sheen and Lindsay Lohan are just some of the celebrities that have learned that the hard way. You can’t get complacent in your business — you need to continually work to earn the trust and respect of your vendors, clients and employees!
Who are other celebrities that teach you great business lessons? Share below.
Follow Carol Roth on Twitter: www.twitter.com/caroljsroth
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What do you think - can we learn business lessons from celebs?
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