What Mint Mobile's $1.35B Acquisition Can Teach You About Marketing

Marketing School - Digital Marketing and Online Marketing Tips

Eric Siu and Neil Patel

Marketing, Careers, Business

4.6 • 1.4K Ratings

🗓️ 4 April 2023

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

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Summary

In episode #2418, we discuss using celebrities to endorse your company while honing in on Mint Mobile and their winning partnership with Ryan Reynolds. We explore some celebrity endorsement strategies that have been successful, why longer contracts work better, why founders should be willing to take pay cuts to fund celebrity partnerships, and the numbers you should be focusing on when giving celebrity equity in your company. Tune in today! TIME-STAMPED SHOW NOTES: [00:21] Today’s topic: What Mint Mobile's $1.35B Acquisition Can Teach You About Marketing [00:32] Background on Mint Mobile and Ryan Reynolds’ stake in the company. [01:36] Why Mint Mobile’s celebrity endorsement strategy worked. [02:33] Short-term versus long-term endorsements and why longer contracts work better. [04:17] Why founders should accept smaller profits to accommodate endorsements. [04:59] What to focus on and what to ignore when giving celebrity equity in your company. [06:02] That’s it for today! Don’t forget to rate, review, and subscribe! Go to https://www.marketingschool.io to learn more! Links Mentioned in Today’s Episode: Don’t forget to help us grow by subscribing and liking on YouTube! Mint Mobile Ryan Reynolds Leave Some Feedback: What should we talk about next? Please let us know in the comments below Did you enjoy this episode? If so, please leave a short review. Connect with Us: Single Grain << Eric’s ad agency NP Digital << Neil’s ad agency Twitter @neilpatel Twitter @ericosiu Learn more about your ad choices. Visit megaphone.fm/adchoices See omnystudio.com/listener for privacy information.

Transcript

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0:00.0	Welcome to Marketing School, the only podcast that provides daily top-level marketing tips and strategies from entrepreneurs that practice what they preach and live what they teach.
0:11.5	Let's start leveling up your marketing knowledge with
0:14.0	your instructors Neil Patel and Eric Sue.
0:20.0	All right now we're going to talk about how Mint Mobile's 1.35 billion dollar acquisition
0:26.6	can teach you about marking. So let me set the stage here real quick. Mint Mobile is a wireless company.
0:33.0	They call themselves a mobile virtual network operator,
0:36.0	okay, whatever you want to call it,
0:37.0	that operates actually on the T-Mobile network.
0:39.0	So Ryan Reynolds, who is also known as Deadpool,
0:42.0	I think many of you have seen him on many different movies. He's a movie star, but you know he was kind of the face of this brand, right? So there's a couple things here that we can learn from it. I just want to set to stage here.
0:54.0	And also I'll share a story as well because one of my EEO forum members was actually one of the co-founder of this company.
1:00.0	You know, you want to kick it off first?
1:02.0	Well, first of, I don't think Ryan Reynolds created this company.
1:04.4	He didn't.
1:05.4	And they gave him equity, right?
1:06.6	Correct.
1:07.8	So they gave him like 20, 30% equity or something?
1:10.2	He got 300 million is what has been written.
1:13.0	300 million out of the 1.3 billion.
1:16.0	Yep.
1:17.0	And that's a amazing deal for him.
1:21.0	And you know what's crazy, I don't know this for a fact but I believe
	...

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