He’s not a businessman; he’s a business, man! Jay-Z and the power of brand loyalty

In Customer Engagement, Featured on App, Loyalty & CRM, Omnichannel by caitlin

Jay-Z song cuba

This past Thursday night, I attended a pre-screening of the hotly contested arrival of The Great Gatsby. Although it has been quite a few years since I first read F. Scott Fitzgerald's quintessential American novel, I tend to spend a day every couple of years rereading the classic. I was incredibly excited to finally see it on the big screen, even though I had a hard time figuring out how Baz Luhrmann would depict Nick's thoughts in a film format. The previews confirmed my suspicions that the 143 minutes of film would primarily include partying, aggression, lies… and music that most definitely did not come from the 1920s. I had been disappointed when the release of the film was delayed as Luhrmann signed on Mr. Carter himself to oversee the musical direction of the film, but, thinking back to the musical prowess of both Romeo + Juliet and Moulin Rouge!, I imagined I could wait a few extra months for greatness.

While the release of the soundtrack was kept under wraps until about a week before the film release, the recording artists and expected musical quality was enough to make the soundtrack as big, if not bigger than the film itself. Film soundtracks don't typically receive this much buzz, unless it's Danny Boyle, Hans Zimmer, John Williams, etc. My answer to this can be attributed to brand loyalty.

One of the reasons why the film release was delayed from Christmas 2012 to May 2013 included the addition of an all-star music lineup on the accompanying soundtrack. To effectively compete in the summer movie contest, Luhrmann and Warner Brothers pulled out all the stops and managed this partnership with Jay-Z. At least from my perspective, this partnership immediately attracted an entire demographic of loyal Jay-Z followers, who may not have been originally interested in the film itself. As an adaptation from a piece of literature primarily seen in the classroom, Warner Brothers needed to break that connection and portray this film as more engaging and exciting.

Surprisingly, Jay-Z only makes the 20th rank in a list of highest-paid musicians in 2012, but still banks a cool $38 million a year and boasts a net worth of about $500 million. Money doesn't need to talk, though, because the jigga man doesn't need a paycheck to prove his market value. Since coming into popularity in the mid-90s, Jay has a hand in several industries, including clothing, sports, entertainment and alcohol. His influence is wide-ranging, even when not entirely visible at first glance. He has been building rapport with his followers for over 25 years and he can easily bring that following into every new venture in his global empire.

At this year's Loyalty World USA, we discuss influencers, from celebrity ranking to a purchasing consumer. Speakers will address the importance of building relationships with your consumers and properly engaging with them across different channels.

Keynote speakers at this year's Loyalty/ Big Data World USA conference include:

· Dhani Jones, Partner, VMG Creative; Founder and Chairman, BowTie Cause; Former Linebacker, National Football League

· Dr. Inderpal Bhandari, Chief Data Officer & Vice President, Knowledge Solutions, Express Scripts

· Derek Strauss, Chief Data Officer, TD Ameritrade

· Jeannine Haas, Chief Marketing Officer, Avis Budget Group

· David Norton, Chief Analytics Officer, Urban Outfitters

Join us on October 28 and 29 at the Bellagio in Las Vegas to learn more about the dichotomy between customer marketing and data analytics.