Whether you are captivated by her or not, Taylor Swift is a smart businesswoman who has been making all the right decisions lately. A proof of her success was her album 1989 that sold millions of copies worldwide. To top that off, her current net worth is US$80 million (about S$111 million) according to Forbes.
From nurturing her relationship with her fans to embracing her authenticity, here are the 4 Enchanting Ways To Run A Business Like Taylor Swift:
1. CREATE AN EXCLUSIVE CIRCLE
If your product has a limited-edition content, customers can create a common circle wherein it is exclusive to them alone.
For instance, Taylor Swift’s CDs sold successfully not only because of her infectious music but also because of her personalized memorabilia (such as the limited Polaroid photo sets) as well as special fan codes (to win a personal meeting with her). Those who buy the CDs will immediately share its contents to their friends or social media. That is free advertising at its best!
Mimic this by offering occasional discounts and exclusive promotions. Keep your customers in the loop by sending out electronic announcements and decorating your shop with attractive posters.
2. UNDERSTAND YOUR AUDIENCE
Aside from talking to them genuinely, you must actively listen to what your target audience has to say. Take it from Taylor who not only showed her audience that she listens to them but also gets in their inside jokes (in reference to the “no its becky” tee).
Business owners who want to make the brand seem more approachable can interact and join in the discussions of the consumers thru social media. Accept feedback and take necessary actions to improve your business.
3. BE YOUR TRUE SELF
If you closely observe Taylor Swift during the awards season, you will realize that she is singing and dancing like she owns the place! She is not afraid to be her fun and quirky self that marches to the beat of her own drum.
As entrepreneurs, it is your duty to uphold your values and vision even if it is not aligned with what is on trend today. Avoid losing your consumers by staying true to yourself in your advertising/marketing campaigns.
4. APPRECIATE YOUR CONSUMERS
Aside from her killer dance moves, Taylor is known for having a strong bond with her fans. In fact, she personally invited 89 of her fans to her homes to provide feedback and listen to her 1989 album before it was released. This is a great technique to increase consumer satisfaction.
Channel your inner Swift by showing gratitude to your loyal consumers. Manifest your appreciation to your consumers by saying “Thank You” in person or by sending an electronic “Thank You note”.
This simple and inexpensive gesture will impact the way they view you and your company as it will make them feel valued and special.