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The results were announced and Taylor Swift's Ellas Tour concert film, which was released in theaters on October 13, 2023, became the highest-grossing concert film of all time in Japan. Swift's latest album 1989 (Taylor version), opened at No. 1 on the Billboard 200 chart. She has 13 No. 1 albums over the years (along with Drake). She has more albums than the Beatles, who have 19 No. 1 albums, and Jay-Z, who has 14.
You've probably heard about her Eras tour. This tour will feature 52 performances in the United States to sold out audiences, and ticket sales will exceed $1 billion for her. She's in the middle of the international portion of her tour, but recently added more North American dates in late 2024.
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Whether you're a fan of her music or not, it's clear that Taylor Swift is one of the most popular recording artists and performers of all time. And perhaps she is reaching the pinnacle of her career after years in the spotlight.
She's also a shrewd businesswoman (and newly billionaire). No matter how talented she is, she wouldn't have gotten this far otherwise.
As entrepreneurs, there are many lessons we can learn about business, marketing, and protecting intellectual property from Taylor Swift. These are five of the most important ones.
Never forget “fans”
Swift fans are known as “Swifties,” and they range in age from 8 to 80 and come from a variety of backgrounds. The whole multigenerational family goes to a Swift concert. Artists with such universal appeal are quite rare these days.
She always appreciated their support from the stage. In fact, every time she appears in public, she is quick to show her appreciation. She is also active on social media where she interacts with her fans. She has also been known to send large boxes of her merchandise and “memorabilia” and invites to behind-the-scenes and events.
Lesson here: Treat customers well. Give them your all. Let's create great products. Provide excellent customer service. Engage with them on social media. Become a valuable part of their lives. This pays off in the form of raving fans who become your ambassadors around the world, both online and offline.
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strong branding
One of the main reasons Swift is so popular and continues to be more popular than ever is that she has an appealing personal brand. Fans don't just listen to her music; They feel like they know her because of her deeply personal lyrics, which are based on her life experiences.
As a business owner, it can feel a little narcissistic to put yourself forward. But marketing and selling become much easier when you connect with prospects and customers and let them get to know you through blogs, social media posts, videos, web content, and more. There’s a reason why influencers and “gurus” work so well together.
Lesson here: Often modern people are simply not interested in buying “products”. They want to support a “story” and a “lifestyle.” They want a personal connection with a personality or brand, and talking about your personal journey allows you to do that.
Related: Who will be the top CEO in 2023? Taylor Swift and Beyoncé – here's why.
overdelivery
Swift knows that her fans spend a lot of money and time to go to her concerts, and it's a big deal for them. So she gave her all to the stadium for her show, which featured fireworks, special effects, and multiple costume changes.
And then she opens the show and performs for hours, including her hits and fan favorites (of which she has many), making sure everyone can sing along. Not only that, but when rain threatened to cancel the concert, Swift performed in a downpour.
Lesson here: It's easy. Give your viewers a great experience!
Adapt and evolve as needed
Swift wasn't always a certified pop star. Her early career focused on country music styles. But she's not afraid to grow as an artist, musician, or performer, and she was looking for collaborators to help her embrace a more pop sound, with a touch of rock and dance. . If she had stuck to her country, it is doubtful whether stadiums around the world would have been filled to capacity. Of course, through all her changes in genre, she has remained true to herself, and it always shines through.
As an entrepreneur, it's tempting to stick with the same old methods and keep honing your business from the inside out. However, no matter how hard we try, we often do not succeed. Perhaps the product does not have a large enough audience, or perhaps the marketing channel is not suitable for the niche market.
Lesson here: Don't be afraid to pivot and try new tactics and strategies. In extreme cases, you may have to abandon messaging altogether and try something else.
Protect your intellectual property
There's a reason Swift's latest album and all of its songs include this part: (Taylor's version).
Look, the album 1989 The original was released in 2014. However, like her other albums, she re-recorded and re-released it. Her motivation is to regain control of her own work. All her “original” albums prior to 2019 were her master recordings, and her older records were owned by her label. That's standard practice for new artists. However, the label was acquired by music manager Scooter Braun and later sold to another company for $300 million.
Swift was willing to purchase his own master, but was refused. Her catalog is too lucrative for her owners. Re-recording all of her albums and encouraging her fans to buy and stream these “new” songs is the amount she spent building her own creative work and career. It's a way to take back control of all your efforts.
When it comes to business, the lesson is to protect your intellectual property with copyrights and trademarks. This includes registering trademarks for product names, logos, slogans, and taglines, and registering copyrights for written, audio, or video content you create.
You don't have to be a fan of Taylor Swift's music to appreciate her success in running a business. She is a smart marketer, an innovative entrepreneur who is not afraid to adapt to new situations and is always ready to take on new challenges, and we can all learn from her example. Masu.
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