I got my back against the record machine š¶
š¶ I aināt the worst that youāve seen š¶
š¶ Ah, canāt you see what I mean? š¶
š¶ Ah, might as well jump (jump) š¶
While David Lee Roth tells several versions of where the song ājumpā came from, the real theme of the song is how they were stuck in a vicious merry-go-round with their record label, their situation āaināt the worst that youāve seenā, with their backs against the wall, or in their case, āagainst the record machine.ā
A machine that grossed WAY MORE PROFIT from Van Halenās creativity and innovation than the band itself did.
As you read this article, think about this:
If you were a musicšµ artist who had just signed a big record deal in the 1960s, 70s, or 80s, life probably felt pretty great, for a minute. It was commonplace for musicians and bands to be lured, then held like flies in sticky paper, by a fat, upfront signing bonus. Yet while many young artists were, overnight, living š¤š¼ rock star lives in the form of huge six figure advances, when the glamorous š¤© tours ended, they nearly all would discover they were millions of dollars in debt,š¤¬ and the only way to climb out of debt was to keep producing more albums for their record labels ā which were making the lionās share of all gross revenues.
With their āback against the record machineā Van Halen was forced for five years to keep churning out records to climb out of debt, held hostage to a āhellaciously badā and watertight contract they had signed as unknowns.
Many acts from this era were in a way renting their brand, but even worse than that, actually signing away incredible portions of the publishing, performance and mechanical rights to the big labels, sacrificing not only future earnings but their ability to maintain their artistic freedom, uniqueness, and individuality.
I see a flavor of this history repeating itself in todayās influencer space ā especially in the fitness industry, and Iām compelled to write about it.
Itās all too easy to get bedazzled š¤ by a large payment. As another song goes āwhat the big print giveth, the small print taketh away.āš” When the people and products youāre promoting move on to the next āsalespersonā ā what do have to show for it? Who wins when you rent out your brand?
Money is great to have. But while social influencer agencies dangle the carrot enticing you to do paid posts about the power of the latest, greatest tea cleanse to hit the market, most industry influencers or brand ambassadors donāt stop and think about how that affects their own brand.
That company is piggybackingš on your goodwill. It uses the trust and relationships you have established with your audienceā¤ļø to siphon attention away in order to sell its own product. To the detriment of your brand.
There are a tonne of examples of this, but I can think of one HUGE fitness influencer, with around 8 million followers. Because of his devoted audience and reach he can command $50K for a single post. Now, thatās a lot of money ā who couldnāt use a regular $50,000 top-up right? Plus, heās a magnet for companies with products to sell.
So heās making good coin posting and promoting someone elseās product ā and wondering why his own product sales (you know, the ones labelled with his brand) are taking a hit. When you look at his posts and stories, it goes āsponsored postā,š„“ āsponsored postā,š¤¢ āsponsored postā š¤® and then, š¤āhey, take a look at this great product Iāve developedā. And he wonders why his own product sales are falling flatā¦
His own brand is getting diluted and lost in this barrage of other peopleās products. Heās renting his brand to another company, while destroying the value of what heās created for himself.
1. Are you spending more time promoting someone elseās product than working with your own audience/clientele?
2. Is your customer base and/or engagement declining ć½ļø while the brand youāre pushing is growing?
3. Are you making less money from your core fitness business than you are from paid posts?
4. Are you using the money from paid promos to pay your business bills, rather than money youāre generating through your own clients?
5. Do you actually believe in the product youāre selling/promoting?
Moral of the story? Sometimes itās best to say noš«, and walk away from those paid opportunities.
But wait ā who can afford to turn down good, legal, easy money? For a business owner, that probably doesnāt seem like a very smart strategy. Why canāt being a successful influencer be a legitimate and profitable arrangement for both parties? Depends how you look at it.
Just like cars, when you rent something over and over, its value goes down. Eventually that shiny rental car is going to be dinged and dented and no-one is going to want it. The way companies treat your brand can be categorized in the same way.
A real life example is that of a well-known bodybuilder and fitness legend, šŖš¾ Flex Wheeler. Arnold Schwarzenegger described him as one of the greatest bodybuilders heād ever seen. Anyway, I was lucky enough to catch up with this legend two years ago in Las Vegas, weeks before he lost his right leg due to circulatory issues.
About 15 years ago, Flex landed a contract with an unknown name, brand-new supplement company. They offered him big money to be the face of the brand, so for the next decade, he was paid handsomely to travel with them and promote the product. He showed up at every single event they needed him to show up at, and with his influence and reach, this no-name company grew into a multi-hundred-million dollar company. In other words, itās doing pretty damn well.
However, some months before I saw him, the company told him theyād decided not to renew his long-standing contract. š¤Æ He was flabbergasted ā after all, heād been with them since the beginning. All they had to say was that they were (so) big now, they didnāt need him anymore.
And just like that, it was over. He got spat off the carousel.
The lightbulb moment. š¤¦š¼āļø He realized that the whole time heād been collecting a pay cheque, heād been helping them build a mega-million dollar business. They were the one with the asset, while he had nothing to show for it, no asset of his own.
And thatās a pretty sobering moment.
Are you just collecting a pay cheque? Are you building your own business or making someone else rich?š¤Ø
Many influencers we work with start out feeling trapped on the gravy train. They say, āA little piece of me dies š every time I have to promote this face cream/protein powder/active wear range. But itās the only way I know how to make money, or keep money coming in regularly.ā
Among many of the OMGsš¤¦š¼ of their original contract, one of the clauses allowed the record label to perpetually renew their contract with all original terms from when they were unknowns. As a tactic to distract the label, Noel Monk, Van Halenās manager, famously became the biggest pain in the ass for the record label, requesting enormous volumes of detailed sales reports, that the label messed up and overlooked their window to renew the contract. At that point they were free agents š and Monk renegotiated their contract to make them multi-millionaires overnight.š¾ The group would go on to become famous contract negotiators, until their new love for negotiating turned inward with each other and the rest is history. The lesson from this
Back yourself
Look, this isnāt to say that you CANāT promote other brands; just be vigilant š¤ of what it is doing to your own brand. Authenticity is the key. If youāve grown an audience, youāre likely to have done it through delivering truthful, entertaining content that people want to see. Thatās why your savvy followers are going to see right through you if you try to whip up interest in a brand that either doesnāt align with your own values, or is something your audience doesnāt care about.š©
The influencer audience is so fluid and fast-moving ā and you can only thrive in it if you remain relevant. Here at MacroActive, weāre about creating something long-lasting. A platform to build a legacy onš, rather than adopt a churn and āburn bright, die youngā approach. Itās not a quick fix, and thereās no magic bullet to business success, but we can help speed up the journey based on having seen whatās worked and what hasnāt for so many others.
We firmly believe that your best path is to invest in yourself. šÆ We donāt want you just collecting a pay cheque, we want you to build your own asset ā something thatās going to be worth something when the music stops. š Why not pour your energy into building your own product instead of feathering someone elseās nest?
If youāre relying too heavily on someone elseās product to make your business pay, youāre working for them. And theyāre definitely not working for you. So donāt sell yourself short. Donāt sell your credibility to the first bidder. Donāt erode your audienceās trust. Most of all, donāt let yourself get into an agreement that puts your back up against the wall.
Instead, invest in yourself and put your own brand first ā thatās how youāll build sustainable success.š