Kylie Jenner is a genius for this. Whether you love or hate the Kardashians, you have to admit they’ve done an amazing job with their marketing. Let’s look at Kylie Jenner. She has over 330 million Instagram followers, 40 million Twitter followers, 33 million Facebook fans, 38 million TikTok followers that have produced over 484 million likes.
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So what is she a genius for? Well, it isn’t from getting paid to promote products on social media, because heck, everyone’s doing that these days whether you have 100,000 followers or 100 million. And it is n’t for the TV show, “Keeping Up with the Kardashians”, as it started when she was just a kid and her mom probably had more to do with that than she did. What she’s a genius for is leveraging her audience to build a billion dollar company.
When someone posts on social media promoting another company’s product, it may generate some sales but not a ton because people know in most cases, you’re getting paid to promote it. But if you create your own product or a service that resonates with your audience, you are much more likely to generate sales because they know it’s your product and it resonates to them. So what did she do? Well, she was posting about beauty and makeup and cosmetics all the time. So she created her own products and sold them through Kylie Cosmetics.
In 2019, she generated $200 million plus in sales, according to Forbes. In 2020, her revenue did drop, but she cast out to Coty by selling 51% of the business for $600 million, which values a business at $1.2 billion.
Now whether Kylie Jenner is a billionaire or her company her ‘s still a billion dollar company or not, it doesn’t really matter one bit. What she’s a genius for is fostering her audience and then releasing a product to sell to them. And just like how she has Kylie Cosmetics, she can go and create another company, maybe one that sells clothes or maybe one that sells anything to her fans that they’ll eat up and they want.
Now she probably can’t go create another cosmetics company because Coty gave her a lot of money, but the model works and it works for people more than just Kylie. It works for influencers with all sorts of follows. Look at Gary V. He doesn’t have many followers as Kylie, but he has over 90 million in transactions for VeeFriends. Or look at me, I have just a fraction of the followings of even Gary V.
I have a decent following in the marketing industry though, nowhere near the sizes of the Kardashians but I’m in a lucrative industry, which is marketing. My following is a large part of the reason why my ad agency, NP Digital is successful. We now have over 700 employees. We have hundreds of clients around the world. And my following has led me to build the 21st fastest growing company in the United States according to Inc Magazine.
So build a following, sell your own products and services and that’s a recipe for success. And when you can, if someone’s willing to buy your business, sell it like Kylie Jenner and you can always rinse and repeat, or if you love what you’re doing, sell a portion like Kylie Jenner and just keep going.
► If you need help growing your business check out my ad agency Neil Patel Digital @ https://neilpateldigital.com/
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