Top of Her Game
WMMM #029 - This week I share how Taylor Swift, the National Football League, and being the best at what you do are related.
Jeff Keplar Newsletter August 12, 2023 8 min read
Taylor Swift, the NFL, and Enterprise Sales
It was Spring 2010.
We had just closed out Q3, and I was hosting my offsite for the team that would continue their consistent and predictable start by closing out the year with an outstanding Q4. We were in Scottsdale, AZ, home to the Cactus League, also known as Spring Training for Major League Baseball.
We recognized top performers and top teams in Q3. We discussed what's working and what's not.
We had a little, okay, a lot of fun.
We organized some team-building events.
We dug into the next two quarters' opportunities as a team. What do we see? What are we missing? How can we increase the size of the deal? How can we pull the following quarters' deals forward?
We don't slip into a forecast session. We forecast every week. This is special. This is an offsite. This is about the team.
Something Special
We get caught up with one another on a personal basis. How's the family? How are the kids doing in school? How is that elderly parent doing?
At this offsite (aka QBR), a teammate mentioned the name Taylor Swift.
He said that he was thinking of taking his daughter to see the young (Taylor was only 20 at the time) country singer perform in concert. He recommended that I look into it for our daughters.
I did.
I found that Taylor Swift was a phenom, gifted. She wrote her lyrics and sang them. Taylor also wrote her music and played the guitar. She liked to dance but earned more reputation for her "performance" on stage - the theatrics and choreography she created for many of her numbers.
I immediately internalized this with something I understood, baseball. Taylor was like a five-tool baseball prospect, called that because they could 1) hit for average, 2) hit for power, 3) field their position, 4) run well and 5) throw the ball well.
In both scenarios, the person is special.
Fearless
Her tour was called Fearless, and it was her first. Taylor's target audience mapped exactly to our two youngest, Megan (14) and Hannah (12), but the five-tool (Dad reference) did not land with them nor their mother, Debbie.
That's okay.
I got tickets for the four of us to see Taylor at the American Airlines Center, which holds about 20,000.
It might have been Megan and Hannah's first concert of any kind. I'm not sure. But I do know that they fell in love with Taylor that night, as only teenage girls can. They have loved her ever since.
(Confession #1: writing that last sentence made me feel good like I did something cool as a father.)
(Confession #2: I have been a Taylor Swift fan ever since that night at AAC with Debbie and the girls.)
I have long been fond of the saying:
"If I could ever do anything as graceful as Freddie Couples swings a golf club."
But once you witness 20,000 teenage girls singing at the top of their lungs every word of every song as Taylor sings, it is something you will never forget. She understands, connects with, and influences her audience like nothing I've ever encountered.
I knew we were watching something special.
Thirteen Years Later
It is now Spring of 2023, thirteen years later.
Taylor has become T-Swiftie, and her fans are known as Swifties. Still Taylor to me, her Eras Tour begins its U.S. leg in Phoenix in March. Megan, now 27, and Hannah (25) ask me to join them when Eras stops in Dallas the weekend of April 1st.
As you might imagine, it was a memorable evening on so many fronts. But what we witnessed on this Sunday evening at AT&T Stadium - Home of the Dallas Cowboys, and a venue seating 100,000, was the most iconic performer of her generation at the top of her game. And as such, Taylor Swift makes it into this week's edition of Win More, Make More.
Let's dive deep into the grand and enigmatic Taylor Swift world - the numbers, the strategy, and the Eras Tour phenomenon.
Hitting The High Notes of Success
Taylor Swift just wrapped up her U.S. leg of the Eras Tour, and she's heading towards a ground-breaking record. We're talking about the first tour to potentially gross a whopping $1 billion in ticket sales. Some projections even say she could reach $1.5 billion!
And if you think that's it, you're mistaken! New dates are popping up left and right. With over 140 dates across 20 months, this is an ever-expanding tour. Soon she might be snatching that title of the highest-grossing tour from the legend, Sir Elton John.
Let's Break it Down
Ticket sales? Swift's numbers are jaw-dropping. At an average ticket price of $253.56 (no, she's not raking it in on those high resale prices), she's already surpassed $600 million for just her U.S. shows. Even if tickets cost less internationally, the sheer volume at venues like Melbourne Cricket Ground can boost revenue.
Here's a mind-blowing fact: Swift started as a teenage country singer, and now after 17 years in the business, Forbes estimated her net worth at a staggering $740 million in June! And with every show she puts up, that number is only skyrocketing.
How Does The Cash Flow?
Swift's earnings may sound like a fairy tale, but remember the team behind her. From setting up the show to promotional strategies, every cog in this machine gets a piece of the pie.
How is she making bank? The average ticket price this time is more than double compared to her 2018 tour. Plus, with four new albums and two re-releases since her last tour, the demand is off the charts!
Dissecting the Eras Tour Pie
The venues, like MetLife Stadium and Nissan Stadium, are breaking attendance records during Swift's shows, adding more to the revenue. But it's not all Swift's. There's a lot of splitting from management teams, venues, promoters, and even the songwriter royalties. Then there are the fixed expenses like rigging, security, and transportation.
And speaking of transportation, what do you think it costs to transport her giant stage from city to city and continent to continent? Estimates are as much as $750,000 per day.
And, of course, merch sales! With lines that stretch for hours before her concerts, Swift is pulling in a hefty sum. She's got Universal Music Group handling her merchandise, which is seeing a "Swift Lift" per their latest earnings call.
The Sponsorship & Music Boost
Here's a name that rings a bell: Capital One. Their long-standing relationship with Swift is adding more weight to her pockets. Plus, the tour is a brilliant promotional opportunity for her re-recorded albums.
Swift's Generosity
In between this monstrous success, let's remember Swift's philanthropic side. She's generously donated to food banks in every tour city and reportedly given her crew members hefty bonuses.
Wrapping It Up
Whether you're a die-hard Swiftie or just an admirer from afar, you cannot deny that Taylor Swift's meteoric rise in the music industry is one for the books. This level of success doesn't happen by accident. It's a combination of talent, strategy, and an unparalleled work ethic. Taylor is a self-made megastar that will likely be a billionaire by the conclusion of Eras.
A glimpse of the unparalleled work ethic reveals that she pushes herself in every aspect:
Physical fitness - personal trainer
Recovery - physical therapist
Diet - nutritionist
Appearance - style coach
Singing - vocal coach
Dancing - dance instructor
On-stage Performance - on-stage performance coach.
On to the NFL
Training camp has commenced. Most NFL teams had their veterans report on July 25th.
Training camp is analogous to the preparation that goes into a Taylor Swift Tour: three months of rehearsals, including four weeks of stage rehearsals and ten days of dress rehearsals. Well, maybe not so much.
The NFL's only lasts two weeks and typically ends right before the first pre-season game (this weekend.)
The NFL is America's most popular sport, with over 100 million television viewers annually.
Last year, the NFL did $18 billion in revenues - take that, Taylor. The average annual revenue for each of the 32 NFL teams is $550m.
There is a lot of money at stake.
NFL football is a highly competitive business, which makes it a closer match for comparing it with an enterprise software company.
Greater than 50% of all games played in 2022 were decided by 7 points or less (one score).
NFL owners relentlessly pursue any competitive edge, as chronicled in the Netflix series "Hard Knocks" and a new 2023 series by Peyton Manning called "Quarterback."
Every NFL team dresses 46 players and employs 15 assistant coaches.
That's one coach for every three players.
NFL owners invest heavily in their revenue-generating talent. Each team also employs masseuses, physical therapists, chiropractors, and psychologists for the players use.
I use a coach that also works with several NFL players. I asked him about the players. What do they do on their own so that their best self shows up for gameday?
He told me that every player employs a personal trainer and a physical therapist. Some players have nutritionists or dieticians. And, some even have psychologists and personal chefs.
Enterprise Sales
Do you employ a sales coach?
For yourself? For your sales team?
Maybe you shouldn't if…
- "Average" sales execution is good enough
- You believe selling requires no skills that need practice
- You have zero competition.
You get the point.
I encourage you to remove any perceived stigma with using a coach to help you be the best you can be.
Have a growth mindset. Stay hungry. Drive yourself to a higher standard.
Conclusion
On April 1st, I witnessed 100,000 (primarily girls aged 13 - 28) sing at the top of their lungs every word of every one of the 40 songs Taylor performed that night. Once you see this, you'll never forget it.
If I could ever have the effect on anyone that Taylor Swift has on her audience...
Thank you for reading,
Jeff
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