An interesting observation from an article I read today on why there are no Hip Hop billionaires:
“You can go into Walmart and buy a Van Halen or AC/DC t-shirt and not find a single one for a hip hop group.”
Because rappers tend to have poor BRAND VALUE:
“Today’s rappers derive their value from external sources, be it luxury cars, liquors or clothing lines. They freely promote other people’s businesses to build brand value by association.”
1. Do a Google search for “rock group t-shirts” and the results go back as far as Led Zeppelin, KISS, Areosmith, Queen, Nirvana, U-2 and the list goes on.
2. Now do a Google search for “hip hop group t-shirts” and after RUN DMC and Wu-Tang, the pickin’s are slim.
WHAT’S THE POINT?
Promote the uniqueness of the consumer experience with YOU, not the significance of the things you use, buy or wear.
Ask yourself this question: If my business did not exist, who would notice and why?
The “why” leads to your Brand’s value…and it will have nothing to do with your car, house or jewelry.
What do YOU think or say about this? Post a comment and share with others, too.