In episode #1516, we talk about how the LeBron James basketball card that sold for 1.8 million dollars applies to marketing. Right now we are seeing a resurgence in card collecting trends and much of it comes down to nostalgia, scarcity, and subjective tastes around art. Many of these same feelings can be tapped into using marketing so tune in to hear how.
TIME-STAMPED SHOW NOTES:
- [00:25] Today’s topic: How A LeBron James Basketball Card Sold for 1.8 Million Dollars and How it Applies to Marketing.
- [00:47] There is a resurgence in basketball and Pokemon cards at the moment.
- [01:18] If more people talk about something, prices for it will rise.
- [01:32] Cards can be thought about as art, which people pay insane prices for.
- [02:10] Understanding the scarcity mentality and how scarce things fetch high prices.
- [02:51] How to capitalize on the card trend with blog posts and card selling.
- [02:50] Beware that rapid rises in value also come with rapid decreases.
- [03:14] Increasing the value of your product or service by getting influencers on board.
- [04:00] Remembering trends are subjective and how to capitalize on them.
- [04:27] The rise in SEO versus social media marketing.
- [04:42] That’s it for today!
- [04:43] To stay updated with events and learn more about our mastermind, go to the Marketing School site for more information or call us on 310-349-3785!
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