Love them or hate them, there is no denying that the Kardashians are everywhere. From their multiple TV shows to their diverse product ranges, they sure know how to put themselves out there and convert their reach and engagement rates into profit. Here are five quick business lessons we could learn from them:
1. Turn The Negatives Into Positive Opportunities
No strangers to controversy, the Kardashians have developed a seamless way of transforming potential PR messes into numerous new sales opportunities over the years. From their culturally inappropriate style choices (which there are way too many of to name) down to their insensitive brand names (we all remember the disaster that was Khlo-CD right?), they have a fascinating way off pissing people off time and time again only to resurface like a family phoenixes, capitalising from their scandals. Their success in business comes from this resilience and their ability to adapt, evolve and overcome challenges. They have had their fair share of failed business endeavours (some even ending in lawsuits and losses). But somehow they leave them so far in the past that they are almost forgotten about by the time the next venture surfaces. It seems that there is no crisis which can’t be spun on its head for them.
2. Leverage Your Audience And Diversify Your Offerings
Another thing the Kardashians are great at is cutting out the middle man and going directly to their audience to build engagement. Talking to their fans whilst simultaneously promoting their ever-growing brands has not only created communities but cult followings on social media for them. This makes their audience feel like they have a connection to them and in turn, transforms followers into consumers. Kim understands that you need to be quick on the uptake and embrace new platforms early. From prompting her fans to send her Kimojis on twitter, down to sharing her make up routines and asking for styling advice, her openness helps her to consistently grow her valuable empire. Meanwhile Kylie and Khloe love a good sandwich (we are talking Instagram here of course!). Sandwiching their “selling”/product posts in between their real-life content works as a successful sales tool as it not only builds intimate connections with the would-be consumer, but also creates a sense of lifestyle for them to buy into, adding value to the product. This is where the diversity of the product kicks in, instead of resting on the success of their reality shows, the Kardashians have managed to spider-web their way into every industry from streetwear and lifestyle endorsements to beauty, apparel, accessories, technology, gaming, diet products and other various supplements. The moral of the story: think big, once you have a loyal following, don’t be afraid to branch out.
3. Timing Is Everything
The devil works hard, but Kris Jenner works harder. Every single announcement is pre-empted by her and strategically launched for maximum impact. And it works. Look at Kylie’s baby announcement for example. All year business gear up for the Super Bowl weekend, pumping billions into sponsorships, endorsements and various advertising strategies in an attempt to execute both memorable and profitable campaigns. It is one of the busiest social media days of the year with a huge engagement rate and a vast reach potential for any strategic posts, yet Kylie Jenner swooped in and stole all of that thunder within a matter of minutes. Kylie’s baby reveal received half a million more social engagements than the runners up of the Super Bowl and almost four million more than Justin Timberlake who was performing at the event. Meanwhile momager Kris Jenner began trending on twitter #mediamanipulation within minutes of the announcement. And that’s just the socials, Kylie also ranked number 1 on google trends (a tool which monitors active search terms on a global level), eclipsing the search for anything to do with the Super Bowl. This was the work of a genius PR strategy and not simply a coincidence. First, the Kar-Jenners created a speculation phase for the announcement/unveil by leaking (or dripping) just the right amount of information in the lead up to the concrete announcement. Then, they neither confirmed or deny the news (limiting negative sentiment). Next, they Newsjacked for maximum impact and finally, Kylie released a personal statement not a press release in order to maintain that open engagement with her following.
4. Challenge Industry Standards
Addressing a market which has long been ignored, Khloe’s denim line Good American runs from size 0-24 (and is inclusive of sizes which mainstream brands commonly leave out). In opening up the possibilities for previously excluded plus-size women she is successfully uncovering a new market and her passion for inclusivity and acceptance of people’s differences is apparent in every aspect of the new brand. From it’s marketing campaigns right down to the Good American conversion rate strategies, Good American is a customer-first community. After noticing peaking patterns in their returns rates, the brand decided to introduce a new size to their range last year, size 15. Not only was this a genius business decision which resulted in increased conversions and lower returns rates, as it was marketed in the right way, the Good American customer felt as though they were being listened to (which is great for customer retention, brand reputation and growth). Marketing campaigns have played a great role in building a strong, Good American community for Khloe. Using real women in their latest castings, Khloe has achieved an intimate sense of aspirational engagement amongst her followers, which has been strengthened by the introduction of the the Good Times blog. It would be easy for Khloe to simply stamp her name on a plus size range and capitalise from it. But the Kardashian’s understand that longterm sales come from a loyal following.
5. Everything Is Business
A visionary when it comes to seeing opportunities for her family, Kris Jenner is always on the look out for the big picture stuff. Turning all potential scandals into opportunities and cashing in on that success, she is not only skilled at seeing an opening but also at the follow through. Going from stay at home mum to millionaire manager in less than ten years, the multi-billion dollar empire that is the Kar-Jenner clan can be wholly contributed to her resilience and innovative approaches. If she has taught us anything it is that there is opportunity in everything.