Nipsey Hussle, Photo credit: Getty / Matt Winkelmeyer
As we reflect on the recent fatal shooting of father, philanthropist, creative, investor, and Hip-Hop Artist Ermias "Nipsey Hussle" Asghedom, we can examine the gems of his marketing and sales strategies that he implemented throughout his musical career. Micah Peters from USA TODAY, wrote about Nipsey in 2013, who took his Crenshaw album, making it free for download and charging $100 for pressed copies. He believed that those who would pay would be the ones that really believed in the music. He ended up selling 1,000 copies with Jay-Z purchasing ten percent of the sales. He was able to release his next project in 2015, titled Mailbox Money, and only pressed up 100 copies. The Guardian released a response written by Nipsey, getting his reaction to his sales,
“It surprises me,” he says. “As much as I believe in it. Every time I get a transaction, I get a text on my phone, and I’ve been hitting them back. The feedback and the connection I have with these people help me understand the psychology of the person paying $1,000 for some songs that, realistically, you could download for free.”
Nipsey implemented is known in psychology as perceived value to his products. He wasn't concerned about selling to as many people as possible. His focus was quality over quantity. Never undervaluing himself, not accepting discounts. Of course, there were people that said he was crazy, that he wouldn't sell any copies. We also have to take note that Nipsey thanked and communicated with his customers. Since he was attuned to his customers, he used his market research and communications skills to gather data about his fan base and understand how to leverage the mindset and needs of his customers. Let's learn from Nipsey's strategies and implement it in your business.
Desha Elliott is former Editor-in-Chief of an education/entrepreneurship publication Be Your Own Success Story Magazine. Currently, she's the founder of PB7APP, an academic/career tracker for student athletes and E16Firm that focuses and real estate/subcontractor management. She stands on the front lines of capitalism and education advocating to make businesses and youth successful, and brings a high level of practical value and common sense to her work.