Latest / Earn Your Leisure / RYAN LESLIE MADE $2 MILLION OFF AN ALBUM THAT SOLD 17,000 COPIES

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RYAN LESLIE MADE $2 MILLION OFF AN ALBUM THAT SOLD 17,000 COPIES · Earn Your Leisure

• 0:01
  Speaker 1: This episode is brought to you by P and C Bank.
• 0:03
  Speaker 1: A lot of people think podcasts about work are boring,
• 0:06
  Speaker 1: and sure they definitely can be, but understanding of professionals
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  Speaker 1: routine shows us how they achieve their success little by little,
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  Speaker 1: decisions with your bank, but keeping your money boring is
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  Speaker 1: what helps you live or more happily fulfilled life. P
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  Speaker 1: and C Bank Brilliantly Boring since eighteen sixty five. Brilliantly
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  Speaker 1: the PNC Financial Service Group, Inc. P and C Bank
• 0:39
  Speaker 1: National Association Member FDIC. I know you have this dispyramid
• 0:44
  Speaker 1: of of relationships. Yeah, I'm interested because in the pyramid
• 0:51
  Speaker 1: you start with obviously at the bottom of the social media.
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  Speaker 2: Why is that?
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  Speaker 3: Well, I would say that social media is almost like
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  Speaker 3: a virtual representation of walking around the streets of New York. Right, So,
• 1:05
  Speaker 3: anyone that you see on the streets of New York,
• 1:06
  Speaker 3: or riding the trains or however you're walking around New York,
• 1:10
  Speaker 3: you actually do have the option of speaking to them, right, So,
• 1:16
  Speaker 3: You could be in Times Square and you know it's
• 1:19
  Speaker 3: ten twenty thousand people in Times Square. As long as
• 1:22
  Speaker 3: they're standing there and walking the same street with you,
• 1:24
  Speaker 3: you have the option of speaking with them. Whether they're
• 1:27
  Speaker 3: going to speak to you is up to them. You
• 1:32
  Speaker 3: have the option same on the internet, right, social media, Twitter, LinkedIn, Instagram,
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  Speaker 3: whatever social platform you're on. As long as they're there
• 1:40
  Speaker 3: and they're sharing, you also have the option of reaching
• 1:44
  Speaker 3: out and speaking to them. Whether it's through a direct message,
• 1:46
  Speaker 3: whether it's in a comment, whether it's in a retweet
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  Speaker 3: or reply, whatever it is. They obviously have the option
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  Speaker 3: of whether they would like to respond. The connectivity is there,
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  Speaker 3: So I would say the expected response and that's why
• 2:01
  Speaker 3: you just said, oh in New York, because there's already
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  Speaker 3: the building, it's already built in. The expected response time.
• 2:08
  Speaker 3: So once you start on social media and you're basically
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  Speaker 3: and that's basically a virtual representation of what's happening in
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  Speaker 3: the world. If you're just walking around, the expected response
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  Speaker 3: time or the expectation for a response is very low.
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  Speaker 3: Once you can move up and you actually can get
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  Speaker 3: an email address, that expectation for a response goes up.
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  Speaker 1: Yeah, so you went social media. I think you said.
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  Speaker 3: Email, right, so you get from DMS to email. The
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  Speaker 3: beauty of email as well is the fact that nine
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  Speaker 3: times out of ten, when you get someone's email, you've
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  Speaker 3: been introduced by someone. So you say, like just how
• 2:48
  Speaker 3: I say, hey, put me in touch with your guy
• 2:50
  Speaker 3: from the R and B and he's doing texting. I'm
• 2:54
  Speaker 3: going to get a warm introduction, so it's not just
• 2:56
  Speaker 3: me reaching out random. Yeah, I'm getting a warm introduction email, right.
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  Speaker 3: That can also happen on text. What I like about text, though,
• 3:04
  Speaker 3: is the fact that text allows you to turn up
• 3:07
  Speaker 3: from texting to a phone conversation very quickly. And when
• 3:12
  Speaker 3: you have that kind of rapport, you're really going to
• 3:16
  Speaker 3: see who wants to work with you when you can
• 3:19
  Speaker 3: take stock of who actually answers your phone call, especially
• 3:24
  Speaker 3: in twenty twenty, who's actually going to answer the phone call?
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  Speaker 2: Right?
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  Speaker 3: And then that continues up the pyramid. Okay, yo, we
• 3:30
  Speaker 3: had a phone call. Hey, look, why don't you pull
• 3:32
  Speaker 3: up at this time? You got that in person, and
• 3:35
  Speaker 3: then you continue moving up the pyramid from this.
• 3:37
  Speaker 2: So, yeah, I want to talk about super phone. Before that,
• 3:41
  Speaker 2: I wanted to go back to that you said you
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  Speaker 2: made two million dollars after off that album when you
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  Speaker 2: took it off, So can you detail, like, how did
• 3:49
  Speaker 2: you do that? Was it through e merged? Was it
• 3:50
  Speaker 2: through live shows? A combination of everything? Live live made
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  Speaker 2: up the majority live shows. Yeah.
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  Speaker 3: So when I put my number on Twitter say everybody
• 4:00
  Speaker 3: shoot me a text, there were thirty five thousand people
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  Speaker 3: that texted in the first response that everyone got. And
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  Speaker 3: whether you're texting you know you're texted me for the
• 4:10
  Speaker 3: first time, or you see any of these other celebs,
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  Speaker 3: I mean they're now six seven years later, everybody finally
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  Speaker 3: caught on.
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  Speaker 1: You know what I'm saying.
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  Speaker 3: The first response is it needs to be automated right
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  Speaker 3: for you to be able to manage the scale, And
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  Speaker 3: that first response is always thanks for texting. I would
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  Speaker 3: love to know who you are, so please, you know,
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  Speaker 3: put your information in my phone, right because I'm not
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  Speaker 3: gonna type everybody's information. So here's a form you can
• 4:35
  Speaker 3: you can actually put your information in my phone so
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  Speaker 3: I know who's even texting me at that point. The
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  Speaker 3: difference I would say between my twenty thirteen campaign and
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  Speaker 3: the campaigns that I'm seeing now is that there was
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  Speaker 3: a very specific intent captured at the initiation of the conversation.
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  Speaker 3: So I didn't just say, hey, here's my number, shoot
• 5:00
  Speaker 3: me a text. What's up. I said, look, shoot me
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  Speaker 3: a text to get my new album. So they shot
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  Speaker 3: me a text. I already know the reason they're texting
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  Speaker 3: is to.
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  Speaker 1: Give new product.
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  Speaker 3: What's your information? Once I have the information, here's the
• 5:14
  Speaker 3: link to get the album. Once that intent is captured,
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  Speaker 3: then you have an incredibly high conversion rate. So one
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  Speaker 3: out of every two, about seventeen thousand people actually bought
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  Speaker 3: that record. They bought it for ten dollars. That's one
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  Speaker 3: hundred and seventy thousand, right. The difference though, is that
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  Speaker 3: I now have a rolodex, a record, a ledger of
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  Speaker 3: every single person that's willing to actually spend money with
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  Speaker 3: me directly. So now not only do you I have names,
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  Speaker 3: not only do you have emails, not only to have telephone numbers,
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  Speaker 3: I have city and state and country information. So now
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  Speaker 3: I'm going on tour.
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  Speaker 1: Got the real goal? You're going on tour.
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  Speaker 3: People go to concerts because it is a social experience.
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  Speaker 3: So yeah, you might go to the concert of none
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  Speaker 3: of your friend want to go, you still figure out
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  Speaker 3: a where you go by yourself, but you're still in
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  Speaker 3: a room with a bunch of people. You guys are
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  Speaker 3: connected by the fact that you appreciate the artist that's
• 6:07
  Speaker 3: on stage. For me, in that situation, even though only
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  Speaker 3: seventeen thousand people in my phone actually bought my record,
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  Speaker 3: they all brought a friend or two or three or
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  Speaker 3: five to the concerts. When I announced them, we sold
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  Speaker 3: forty thousand tickets sixty euros a ticket. You could do
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  Speaker 3: the math.
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  Speaker 1: That's like five albums right there.
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  Speaker 3: You know, And so it's really just and like I said,
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  Speaker 3: you know, there's obviously ancillary income that happens from that.
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  Speaker 3: There's publishing revenue and merchandise, et cetera. For me, you know,
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  Speaker 3: I really prefer digital goods because you know, there's a
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  Speaker 3: cost of goods. You know, when you have merchandise, and
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  Speaker 3: there's a cost of inventory, there's a cost of shipping.
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  Speaker 3: And so digital goods for me have always been my
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  Speaker 3: preference just because they have unlimited scale and as long
• 7:03
  Speaker 3: as you're delivering value, hopefully your content is gonna be
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  Speaker 3: ever green. And so that's why I always I always
• 7:11
  Speaker 3: remind an artist that even though you may feel like
• 7:15
  Speaker 3: your music is outdated, to you, it's actually brand new
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  Speaker 3: for the person who's hearing it for the first time.
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  Speaker 3: And the reality is that even if you went platinum,
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  Speaker 3: there is still a large number of people around the
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  Speaker 3: world who have yet to have even heard your record
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  Speaker 3: one time. So you have the ability in music, which
• 7:40
  Speaker 3: is always why I say, look, just create the best
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  Speaker 3: music you possibly can, because great music is ever green,
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  Speaker 3: you know. And so you know, I'm doing some real
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  Speaker 3: estate development and investments in Brooklyn, and so you know,
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  Speaker 3: sometimes you'll walk into some of the whether it's the
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  Speaker 3: mom and pop stores or or just the bodegas or wherever,
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  Speaker 3: and they'll be playing some great, you know, old school music.
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  Speaker 3: I've never heard the record before. I'm putting my shuzama
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  Speaker 3: up because for me, it's still that experience of discovering
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  Speaker 3: that music for the first time. It's thirty forty years old.
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  Speaker 1: You know.
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  Speaker 2: I love what you said as far as like, how
• 8:15
  Speaker 2: many people don't know you? Because that happened, I realized that,
• 8:19
  Speaker 2: like now with the podcast has become very popular, especially
• 8:22
  Speaker 2: in our community, and we went to an event curl Fest.
• 8:24
  Speaker 2: I don't know if you're heard of it. Yeah. One
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  Speaker 2: of our guests on the podcast, a friend of all
• 8:28
  Speaker 2: she does it. So we had curl Fest this year
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  Speaker 2: and it's like twenty thousand women and not a lot
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  Speaker 2: of men, and like at least probably like twenty twenty
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  Speaker 2: people came up to us like, yeah, we love your podcast.
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  Speaker 2: So at first I'm like, this is dope, Like we
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  Speaker 2: feel like, you know, we made it. But then I'm
• 8:43
  Speaker 2: thinking twenty people recognized us, which is dope. But there's
• 8:47
  Speaker 2: twenty thousand people here, Like how many people? We still
• 8:50
  Speaker 2: got so much more to penetrate day.
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  Speaker 1: I tell them every day, like my life is so
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  Speaker 1: much duality. Like I go to work, most of my
• 8:57
  Speaker 1: coworkers don't even know I do a podcast. I walk
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  Speaker 1: down the stree. Most people don't even know I'm a teacher.
• 9:02
  Speaker 1: But like there are rare cats, like we're in Houston
• 9:04
  Speaker 1: and somebody will say, oh, you know, I love your podcast.
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  Speaker 1: It's like this is cool. But now we got so
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  Speaker 1: much con penetration.
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  Speaker 2: You can never get thinking that you like made it
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  Speaker 2: because yeah, there's always a bunch of people.
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  Speaker 1: That don't have no clue.
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  Speaker 3: Yeah, and also just to be just to keep it
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  Speaker 3: one hundred, you still can be ridiculously wealthy just from
• 9:23
  Speaker 3: a niche audience, you know, I would say that you
• 9:28
  Speaker 3: know they're they're there. Exists a number of gen zers
• 9:35
  Speaker 3: that may not even know who Oprah is.
• 9:37
  Speaker 2: Right, that's the fact.
• 9:38
  Speaker 3: The audience though, that she's created, that's her niche audience,
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  Speaker 3: and that's a that's a loyal audience. And that audience
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  Speaker 3: is not just limited to the viewers. It's also limited
• 9:48
  Speaker 3: to the television executives that love her content and want
• 9:53
  Speaker 3: to syndicate it right. And so I think that you know,
• 9:58
  Speaker 3: the I would say the conundru of scale, or the
• 10:02
  Speaker 3: dilemma if you will, of scale is unless you really
• 10:06
  Speaker 3: have the technological infrastructure to have a direct relationship with
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  Speaker 3: each one of your listeners at scale, you're better off
• 10:15
  Speaker 3: having a manageable, manageable audience in terms of size, so
• 10:20
  Speaker 3: that you can actually have a depth of a relationship
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  Speaker 3: with those folks. I have folks, you know. You look
• 10:27
  Speaker 3: at my socials, my socials compared to the biggest stars
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  Speaker 3: or influencers on Instagram, I'm sitting at three hundred and
• 10:36
  Speaker 3: sixty thousand followers. I know that in my core though,
• 10:39
  Speaker 3: I have folks that have spent four or five, six, seven,
• 10:43
  Speaker 3: ten thousand dollars with me and I know every dollar
• 10:45
  Speaker 3: they spent, I know the products they like, et cetera.
• 10:48
  Speaker 3: And so you know that depth of relationship on it.
• 10:53
  Speaker 3: And that's sort of in any vertical, in any circumstance,
• 10:57
  Speaker 3: the depth of relationship is always going to year. I
• 11:00
  Speaker 3: would say, just a greater reward in general.
• 11:03
  Speaker 1: Sometimes less it's.
• 11:04
  Speaker 2: More, less is more. A lot of times.
• 11:06
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• 11:33
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• 11:35
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• 11:39
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• 11:42
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• 11:46
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