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Transcript

Study Hall: You Are Renting Your Audience If You Rely Solely On Social Media · Earn Your Leisure

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  Speaker 1: So I want to talk about full circle moments for
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  Speaker 1: a second. Right, so we hear you're noted masters obviously,
• 0:04
  Speaker 1: Steve Stout, Let's talk about the power branding. I guess
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  Speaker 1: you can all take this. But the importance of branding
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  Speaker 1: and partnering with brands. That make sense, So Steve Stout,
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  Speaker 1: the Rebok commercial, everybody knows that, the AI commercial. But
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  Speaker 1: even to present day, like as I'm watching the NFL,
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  Speaker 1: I'm hearing your voice over the commercials. Somebody yo your
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  Speaker 1: kisses everywhere. Man, So talk about aligning with brands and
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  Speaker 1: the power of power behind that.
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  Speaker 2: Branding is very important. Aligning yourself with brands is even
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  Speaker 2: more important. But with today's society social media, as you see,
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  Speaker 2: when tragic things happen before somebody would help an elderly person,
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  Speaker 2: they pull out their phone. So everybody's a brand. And
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  Speaker 2: when you you know, when you're an artist or athlete,
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  Speaker 2: a businessman, businesswoman, you gotta think that you're a brand
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  Speaker 2: and do much as you can to support that brand,
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  Speaker 2: give a positive outlook on the brand, and just keep
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  Speaker 2: you know, productivity as much as you can because that's
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  Speaker 2: going to help your financial situation in the long run.
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  Speaker 2: With all e's on you in today's society.
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  Speaker 3: So ron I want to ask you about ownership. You
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  Speaker 3: broke down how you made a bunch of money by
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  Speaker 3: selling like a fourteen thousand albums before on the show,
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  Speaker 3: but talk about like the power of ownership and leveraging
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  Speaker 3: that to actually make money.
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  Speaker 4: Yeah. I really believe that that when you have the
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  Speaker 4: right information, you have the right access to information, and
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  Speaker 4: the right infrastructure, you really can As long as you're
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  Speaker 4: rooted in service, you can really make however much you
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  Speaker 4: want to make. So a lot of times I would
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  Speaker 4: go to my record company and I say, hey, look,
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  Speaker 4: you know my first album I sold you know, one
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  Speaker 4: hundred and sixty thousand albums. I'm not platinum status, I
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  Speaker 4: didn't have no records on the chart. Then my second album,
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  Speaker 4: which was Grammy nominated, I only sold sixty thousand, and
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  Speaker 4: so I went to him. I said, hey, look, we're
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  Speaker 4: in a digital age. If I saw one hundred and
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  Speaker 4: eighty thousand, how come we don't know all those people?
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  Speaker 4: Can I just press the email and we could email
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  Speaker 4: everybody who bought the last one. They should definitely want
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  Speaker 4: to know about the first one. And it sounds funny now,
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  Speaker 4: right because we should actually know. But I will present
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  Speaker 4: this challenge to y'all that if you're building on social media,
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  Speaker 4: you're really just renting your audience. And so for me
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  Speaker 4: in twenty thirteen, I said, look, if I want to
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  Speaker 4: actually have this information, I got to give to receive.
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  Speaker 4: So I gave my number out on Twitter. I say,
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  Speaker 4: he look to send me a text if you want
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  Speaker 4: the record. And by that time I'd already bought my
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  Speaker 4: contract out. So every single dollar that came in and
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  Speaker 4: went straight to the bank account instantly. I see that's
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  Speaker 4: what you're doing.
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  Speaker 1: Now, Ernest, what's up? You ever walk into a small
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  Speaker 1: business and everything just works like the checkout is fast,
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  Speaker 1: or seats of digital tipping is a breeze and you're
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  Speaker 1: out the door before the line even builds odds are
• 3:06
  Speaker 1: they're using Square? We love supporting businesses that run on
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  Speaker 1: your vision forward. This episode is brought to you by
• 4:03
  Speaker 1: P and C Bank. A lot of people think podcasts
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  Speaker 4: And so the beauty of that and this, I think
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  Speaker 4: what you're talking about is first having that relationship, that
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  Speaker 4: one on one relationship with the fans and letting them
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  Speaker 4: know that you're here to actually be of service to them.
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  Speaker 4: However they are looking to actually support you. So at
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  Speaker 4: the very beginning, the opening conversation was just the music. Hey,
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  Speaker 4: let me just download the music. But then people would
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  Speaker 4: actually and when we talk about brand partnerships, people would
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  Speaker 4: actually text in Yo, you didn't know, but I run
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  Speaker 4: the Lamborghini club in so and so. So whenever you
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  Speaker 4: do your next video, man, just call me. I'm gonna
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  Speaker 4: bring seventeen of those things out. Sounds great to me,
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  Speaker 4: you know what I mean? Yep, I was over there
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  Speaker 4: next people say, you know what, Ryan, listen, we love
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  Speaker 4: the concerts and everything. And I've been doing this for
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  Speaker 4: a long time, actually doing my tickets direct, and sometimes
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  Speaker 4: it's a struggle because the venues actually they have deals
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  Speaker 4: with the larger promoters, etc. So I had to go
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  Speaker 4: out and find a promoter that was willing to take
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  Speaker 4: that chance with me. And when you look at it,
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  Speaker 4: even in boxing, etc. Once the talent becomes the promoter,
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  Speaker 4: the whole financial breakdown starts to change and they start
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  Speaker 4: to understand their business better. And when they start to
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  Speaker 4: understand their busines, the ingenuity of a creative becomes present
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  Speaker 4: in the execution of those business ideas. And as you
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  Speaker 4: sit here in this audience as creatives, make sure that
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  Speaker 4: you pay attention to the business because as you know
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  Speaker 4: your business better and better and better, your ingenuity as
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  Speaker 4: a creator, your creativity, is what is going to make
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  Speaker 4: the difference. We're watching it live in real time, watching
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  Speaker 4: the history that's being made the ingenuity and creativity. But
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  Speaker 4: also it's also about understanding that it's not just about you.
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  Speaker 4: It's about being able to connect with those who also
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  Speaker 4: relate to the impact that you want to have. And
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  Speaker 4: so I watched my young brother right here. He found
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  Speaker 4: a platform. I think it's called even Dabiz right. He
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  Speaker 4: found that platform a young brother, another young young guy man,
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  Speaker 4: super creative and said, look, your concept, but what you
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  Speaker 4: want to do, we can help you bring it to life.
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  Speaker 4: What does that do? That allows for you to remain
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  Speaker 4: the creative and you can choose the folks on your
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  Speaker 4: team that can elevate and put the infrastructure around the
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  Speaker 4: impact that you want to have. Once again, it comes
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  Speaker 4: down to having those phone numbers, making those phone numbers
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  Speaker 4: work for you, making those phone calls work for you.
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  Speaker 4: And so when we think about the economics of it,
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  Speaker 4: once you can start to realize what products or services
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  Speaker 4: people would actually pay a premium for, you can interact
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  Speaker 4: and engage with those supporters at that level.