Taylor Swift makes Forbes’ 100 most powerful women list
The news that Taylor Swift was included in the Forbes list of the 100 most powerful women came as a bit of a surprise to a lot of people, though probably not to anyone as much as the singer herself. That being said, if you asked any of her fans, those who call themselves swifties, they would probably tell you that she should be at number one.
The 25-year-old Swift made the prestigious list with the author of the article citing “[She] has not only broken record sales and captivated the world with her fantastically honest lyrics, but she has proven herself as an impressive businesswoman.” And they are not at all off-base with that claim, as the multiple Grammy winner has used many different styles of endorsement and business tactics to get where she is today. Her ideas show her to be a woman wise beyond her years and undoubtedly with plans for future growth.
She’s quite possibly a marketing master, taking advantage of the market early, market often strategy. Months before the release of her 1989 album, Swift used a barrage of advertising in many different forms; television, magazines, social media etc. to promote the collection. She also released the song shake it off as a single on iTunes with the option to instantly pre-order the full album, which ended up being an extremely popular method of getting the song/album. She also made a point of releasing an exclusive version of the album with extra songs at select retailers; partnering up with companies like Target.
With her estimated earnings being around the $81 million mark, Swift’s decisions regarding endorsement have to be mentioned, such as removing all of her content from the music-sharing service Spotify and moving it over to TIDAL; a similar service owned by Jay Z that charges for use of the website, with all the money going back into the pockets of the musicians rather than to big, faceless record labels or to pirates. She also makes expert use of social media as both a marketing tool, as well as a way of keeping in touch with her audience. Her social media presence also increases her veneer of likability, as she gets down to earth with her audience and removes the ‘air of superiority’ that a lot of rich people and celebrities seem to possess, which in turn is used as marketing for her concerts/albums, albeit in a roundabout way.
But it’s not just the entertainment side of things that make her a great businesswoman, she also just makes good business decisions; such as investing in property; trademarking single lines of lyrics and simply putting herself out there for endorsements with other companies such as Coke, Sony and CoverGirl. It shows that while she’s still got a lot of time left to shine in the entertainment industry, she’ll always be able to adapt and evolve no matter what situation she finds herself in, as evidenced by her shift from the country music to the pop and R&B styles that were becoming more popular a few years ago.
Taylor Swift deserves her place on the list of the most powerful women, and it’s not just because she’s a famous singer. It’s because she’s a shrewd businesswoman who understand her audience and knows how to play the market to her benefit. Don’t be surprised if you see her in a higher rank next year, there’s no telling how far she could go in twelve months.