Music Promotion and Music Marketing
Music Promotion and Music Marketing are key elements to success in the music industry. Having great music, is of course, first and foremost- then comes the marketing of the music.
So what is marketing? Well one dictionary describes it as ” the action or business of promoting and selling products or services, including market research and advertising.” As you can see, adverting is an important part of marketing. You can make the best music in the world….but if no one hears it or knows about it then you are not reaching your potential. So lets talks about some ways to market your music and music promotion.
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THE MARKETING MIX: Firstly, the key to creating a genuine “Buzz” starts with having a GREAT PRODUCT. Secondly, what good is a distribution deal without a marketing plan and budget? If you are running an Independent record label or production company and you do not have a marketing strategy, then you are playing yourself. Even funeral homes advertise. (Think about that for a moment.) The key is to ATTRACT FANS and not CHASE FANS. There is a difference! Too many independent artists are busy CHASING FANS. They are in essence “Artistic Beggars.” Some independent artists spend hundreds of dollars on studio time to create an album or mixtape, but will not allocate a dime to a marketing budget to promote it. Consumers must be made aware that your product exists. They must be informed about where and how they can consume it. No matter how good your music is, you must create and steadily increase consumer demand for it to continue to prosper. Every successful company invests in marketing. McDonald’s spends close to $2 million a week to market its products. PepsiCo boosted its overall marketing budget by as much as $600 million in 2013.
Promotion is the key to success!
In like manner, music is sold just like one sells everything else; and that is via advertising and promotion. Independent artists must execute a plan to facilitate fan conversion and brand optimization via strategic alliances and positioned marketing. They have to incentivize consumers to connect with their brand. A precise game plan will enable artists to energize and motivate their fans to buy their CD, buy their merchandise, or purchase tickets to see them perform. The purpose of having a promotion strategy is to enhance “the price of your commodity ” in the marketplace. Your goal is to tap into the multiple revenue streams in the music business. Every album release should have a marketing strategy, a promotion implementation plan, breakeven analysis, ROI assessment, and monthly sales projections.
The Difference Between Marketing And Promotion
In order to be successful at selling your product or service, you have to know the difference between marketing and promotion. A marketing plan is a map that you create in order to organize your promotion efforts towards a single goal. Marketing is your overall strategy to attract fans to your brand and to build awareness for your product. Marketing involves analyzing your target base and devising ways to reach them. Promotion implementation is a business tactic designed to stimulate consumers to buy your product. Promotion deals with the execution of selling points to fulfill your marketing game plan.
Need promotion for your music? Check out MyMusicMylife.com PR Service.
An effective marketing program incorporates a promotional agenda, which targets various revenue streams. A return on investment can come in the form of increased market share, enhanced visibility or a boost in sales. A music marketing plan includes the following : product data, price info, promotion tactics, budget, sales projections, demographics, psychographics, branding, targeted advertising mediums (TV, radio, Internet, print), public relations, timeline of execution, economic trends, Swot analysis, mission, and goals. A music promotional strategy incorporates the following: PR/Publicity, radio promo, video promo, e-blasts, shows/tours, online promo, press releases and street team/club promo. You attract fans by executing strategic campaigns with sales driven initiatives that enhance the overall goal of increased visibility. A calculated and intense promo campaign will enable your label or production company to earn revenues and capture a larger percentage of the market.
15 MUSIC MARKETING STRATEGIES FOR ASPIRING MUSICIANS
- Create a Music Website
- Share Your Music on Digital Platforms
- Use Social Media for Your Music Promotion
- Contact With Music Influencers
- Send an Email Newsletter to Your Contact List
- Promote Your Music via Paid Advertising
- Sign up to Live Stream Music Platforms
- Record Music Podcasts
- Share Your Videos on YouTube and Other Video Sharing Sites
- Create Your Band Merchandise
- Reach Out to Music Bloggers
- Find Musicians to Collaborate With
- Record music tutorials
- List Your Shows and Tours on Different Platforms
- Try Crowdfunding for Musicians
- Need promotion for your music? Check out MyMusicMylife.com PR Service.
