What managers can learn from Taylor Swift

When you get everyone on the same page, excited about the same thing, you can tap a well of emotional energy.

- Julien Cayla

In a few weeks from now, Taylor Swift will head to Singapore for the concerts in her Eras tour. If anyone had been worried that Covid-19 would lead to the end of the big concerts, her fans - the Swifties, as they are known - had proven otherwise.

Although my Singaporean students often complain about the rising prices of hawker food, many of them will be at the National Stadium in early March, having spent anywhere up to $1,000 for a coveted ticket. Others may opt to make a nice profit on the resale market, where some tickets are selling for several thousand dollars each.

I have a confession to make. I am not a fan of Taylor Swift. I became interested in the American superstar only when my daughter hinted that she wanted to go to her concert in Singapore.

When I say "hinting" though, I am being facetious. Like other Swiftie dads, I had to face the persuasive powers of an 11-year-old, a psychological warfare that lasted a few days and ended with me buying tickets to the three-hour documentary on Swift's tour instead. It was not the most popular move, but my bank account is still grateful.

At the cinema, I sat for 45 minutes surrounded by Swifties waving their cellphones around. I could not take it any more and retreated to the nearest foot massage parlour in the mall.

But as a marketing professor, I am fascinated by the Taylor Swift phenomenon. When people are willing to pay thousands of dollars for an experience, my research ears perk up. What makes people spend their hard-earned money on an experience that lasts only a few hours? In this case, the Taylor Swift phenomenon can be explained through the concept of emotional energy. It is the excitement you feel when you attend an exhilarating event. It is also the enjoyment you experience when you really connect with someone in a conversation.