What's brilliant about this move is that the deal is not only good for fans, it also potentially very good for Kid Rock. That's because Kid Rock is partnering up with Live Nation and will share in all the profits. From ticket sales, parking, merchandising, beverages, etc., Kid Rock will get a percentage of every dollar made. Sure there is risk involved – if sales are down, Kid Rock will not make any money – but he is willing to put his money where his mouth is. And the payoff could be huge. It shows Kid Rock's commitment and confidence in what he has to offer as a performer, a lessen many can learn from. In the entrepreneurial world, you cannot be afraid of having some skin in the game. If you are, maybe that particular venture is wrong for you. Companies that succeed do so because they absolutely know they are going to succeed. Who knew Kid Rock was such the consummate entrepreneur?
In addition to potentially being a lucrative venture for Kid Rock, there is a more important component to this deal: what it means to his fans and his reputation. Let's face it, what Kid Rock is doing is just plain cool. Sticking up for the fans, being a man of the people, fighting the system. That is something that resonates tremendously with fans around the world. And that reputation is going to give Kid Rock even greater staying power. If you want to grow a lucrative business, you have to have staying power. Longevity is the name of the game. Kid Rock may only be getting a fraction of a $25 ticket, but he is earning (and working hard for, mind you) more cool points than you can possibly imagine. Win or lose, he will be able to cash those points in down the road and be able to continuing playing shows and finding other business opportunities because Kid Rock will still be relevant, and his reputation will still be remembered and revered.
The lesson here is: don't play the short game. Building a company or brand is something that takes quality and integrity. Doing the right thing matters deeply to consumers, especially in the ever growing socially conscious world we live in today. And be creative. Think outside the box and find new ways of making deals. Partner up with other companies, and get some skin in the game. Remember, consumers need to feel they are getting value for what they paid for. In Kid Rock's case, he is providing a concert experience at a price that fans will be happy to pay for, and he has found a way of making it very profitable, provided fans show up and like what he is doing. I'd say that's pretty fair.
You can read more about Kid Rock's deal here: http://www.billboard.com/biz/articles/news/touring/1556613/kid-rock-takes-pay-cut-with-20-tickets-on-summer-tour?utm_source=twitterfeed&utm_medium=linkedin
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