Beyonce knows how to sell herself and her music. Eduardo Munoz / Reuters
Beyonce knows how to sell herself and her music. Eduardo Munoz / Reuters
Beyonce knows how to sell herself and her music. Eduardo Munoz / Reuters
Beyonce knows how to sell herself and her music. Eduardo Munoz / Reuters

Queen Bey succeeds by leaving us guessing


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Every good salesman knows this rule: after you’ve delivered your sales speech and made the case for your product, once you’ve explained to the potential customer why they need whatever it is you’re selling, there is only one thing left to do.

And that’s this: fall silent.

I’ve met some of the most successful salespeople in the world, and they’ve always said the same thing: make your best pitch and then shut up. Silence, they all say, is the power move. The trick is to be able to sit there, confident that your pitch and product speak for themselves, in total silence, no matter how awkward and maddening it is.

Because the next person who speaks will be the loser in the transaction. The seller who starts up the pitch again, equivocating or amending, will look desperate and weak. The buyer who asks about the price, or other details, has signalled interest and instantly forfeits the upper hand.

Winning hinges on that most rare and challenging human trait: the ability to shut up and stay that way.

People in Hollywood, though, have a hard time staying silent. In many ways, that’s a contractual arrangement. Movie and television stars are required, most of the time, to do all sorts of publicity and marketing appearances to sell a project to the audience.

Each time a film or television show premières in a new location – and these days that often means 10 places worldwide – the famous faces are jetted to a nearby luxury hotel, propped up on sofas in a fancy suite and subjected to a series of interviews by local news media. We call these, in the entertainment industry, “junkets”. I’m not sure how that term came about, except that in many cases it’s clear that the project being promoted is, well, junk.

You’ve probably seen these. The interviewer always makes it seem as if he or she and the movie star are old friends, just having one of their casual and regular chats. They banter back and forth – often in front of a large poster advertising the project – and create the illusion that this is all just a gathering of friends.

The truth is, each one of these interviews is meticulously planned and timed to the second. The interviewers are ushered in and out, and a well-planned junket can knock off a dozen of these in a morning. By the end of the day, the star is exhausted and glassy-eyed. It’s hard, apparently, to answer the same question over and over again, being charming and spontaneous each time.

As an example of salesmanship, though, this is a terrible way to convince anyone. It’s needy and awkward, and more often than not makes you wonder if the picture or television show is worth watching. And because the exchanges are unscripted, they often seem low-energy or, when they’re one of the final few of the day, downright hostile. If good salesmanship requires a certain amount of restraint, and the ability to be silent, then show business junkets rank among the worst ways to sell anything.

Trust Beyoncé, the dazzling singer, dancer and all-around superstar, to show us a better way. Her fans call her “Queen Bey” and in salesmanship, at least, this seems like a fair title.

Two months ago, to zero fanfare and no advance word, Beyoncé released the video to her latest song, Formation. The video is a thoughtful and mesmerising piece of work, with lots of complicated references and odd little details.

In the weeks after its release, Beyoncé chose to explain none of these. In fact, she chose to say nothing, about anything, except to formally announce her world tour. Beyoncé didn’t need to go on a junket or answer questions from legions of entertainment reporters. She had her fans conduct a junket of their own.

Last week, she did it again. Beyoncé suddenly released her longer-form video project, Lemonade, which included more inexplicable images and cryptic messages – and again, Queen Bey remained tight-lipped about it all.

There were even dark rumours that she had identified a woman who – and this is all conjecture – was or is having an affair with her husband, the rapper and music producer Jay Z. She refers obliquely to a woman in the video, and zealous Queen Bey disciples on Facebook and Twitter instantly launched crazed and unfounded hunts for the true identity of the woman who was betraying their sovereign. The lyrics were analysed for clues. The images were searched for coded meanings. Names were bandied about online.

And through it all, Beyoncé was – you guessed it – silent. After all, she’s a saleswoman. She has a product in the marketplace and she knows what the first rule of effective selling is: know when to shut up and let your customers do the talking.

Beyoncé may not be Queen Bey to everyone, but she’s certainly Queen of the Kingdom of Sales.

Rob Long is a writer and producer in Hollywood

On Twitter: @rcbl

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Transmission: six-speed automatic

Power: 165hp

Torque: 240Nm

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Tank warfare

Lt Gen Erik Petersen, deputy chief of programs, US Army, has argued it took a “three decade holiday” on modernising tanks. 

“There clearly remains a significant armoured heavy ground manoeuvre threat in this world and maintaining a world class armoured force is absolutely vital,” the general said in London last week.

“We are developing next generation capabilities to compete with and deter adversaries to prevent opportunism or miscalculation, and, if necessary, defeat any foe decisively.”

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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