3 Lessons from LeBron James, the Media Company

Everyone here in Cleveland is waiting with bated breath for the news that will come at 9 PM ET tonight – will LeBron James come back to the Cleveland Cavaliers or go to Miami, Chicago, New York or New Jersey? (UPDATE 7/9 – Yes, he chose Miami. And in the words of Forrest Gump, “That’s all there is to say about that.”)

Since being named “The Chosen One” by Sports Illustrated while he was still in high school (age 17), LeBron James is, perhaps, the most popular sports figure on the planet who hasn’t (yet) won a major sports championship. He is, for sure, the highest paid player (including endorsements) in the National Basketball Association.

Over the past few years as this moment has culminated into one great event, two things are crystal clear:

1. LeBron James will sign a large contract with some NBA team tonight, and
2. LeBron James is developing one of the most powerful media companies in the world.

It’s this second point that gets overlooked. Let’s review:

The Book – Shooting Stars

LeBron James was the lead author of this book with the help up Buzz Bissinger of Friday Night Lights fame. Shooting Stars tells the story of LeBron and his friends going through hard times in Akron, Ohio to become the most famous high school team of all time at Akron’s St. Vincent-St. Mary’s.

The Movie – More Than a Game

The inspirational story of LeBron’s high school career was made into a critically-acclaimed documentary movie about LeBron James and his high-school pals.

Online Presence

Although LeBron secured LeBronJames.com years ago, he is just starting to launch the site. One very important thing is happening right now on the site – LeBron is asking for permission to stay in touch with interested fans.  I’m sure he’s signed up thousands over the past few days.

LeBron has more than 2.5 million fans on his Facebook page. LeBron’s staff regularly keeps fans updated with news and questions.  For tonight’s event, fans were able to ask a question that LeBron may answer at his press conference through his King James Vitamin Water brand.

A late-comer to Twitter, LeBron just joined, amassing over 200,000 fans in a matter of hours.

LeBron – the Media Company

As we are all media companies now (whether we like it or not), brands can learn a number of things from LeBron, the media company.

1. Tell the story. LeBron, a lover of cartoons and storytelling, loves to tell stories himself. The movie, the book, and the announcement tonight on ESPN about Decision 2010 is LeBron telling the story about himself and his fans. The more stories LeBron tells, the closer his fans can get to him, and the more he sells endorsements or creates opportunities for himself. As a brand, are you engaging your customers with stories they would find interesting?
2. Stand for something. Although LeBron has never been a media darling, LeBron is himself and that has added to his following.  Whether it’s wearing a Yankees cap to a Cleveland Indians game or mimicking King Kong on the cover of GQ, LeBron creates interest. Brands can learn a lot from LeBron…being interesting can take you places.  How can you be interesting to your customers? Are you talking about the same things as your competitors? I thought it was interesting that Dwayne Wade, an incredibly talented player who is also a free agent, has only been mentioned by the media as it pertains to LeBron. Hmmm…
3. Diversify the Portfolio. The book, the movie, now online.  Wouldn’t be surprised if a magazine is coming soon. There’s a TV special in the works (outside of the one tonight), on top of the SNL performance.  He’s held a number of events, including his annual basketball camps. Are you telling your story in multiple ways, where your customers are at? So many brands have become caught up with online marketing, and rightfully so, but are we forgetting that customers want to engage with us in different ways? It’s interesting to me that LeBron has tiered his online media approach – Facebook, then website, then Twitter.

LeBron will turn 26 in December of this year and is already an incredibly savvy marketer. Although I’m hopeful (for Cleveland’s sake) that he stays in Cleveland, it’s a foregone conclusion that his business will grow larger outside of his sport that any other athlete we’ve ever seen.