Million Media

See Things Differently

Does The Music Industry Understand Marketing? No…

Well that’s not entirely fair, but come on it’s not rocket science – unless you are extremely lucky, or backed by a Simon Cowell production YOU WILL NOT MAKE MONEY FROM JUST CDs / DOWNLOADS!  Band’s have a number of ‘products’ that they make money from – unfortunately the actual music is being ripped for free.  So get real – a big proportion of your fanbase are getting the stuff for free.  So what do you do? If I were a manager or part of a label (and i have worked at 2 major labels) I’d see things like file sharing as a marketing tool.  Fans WANT your music, and it gets them into your band.  They then spend money on seeing you live, merch, exclusive bundles, premium merch, and more importantly become your ambassadors.  For each fan you get you earn in loyalty and inevitably the benefit of them spreading word of mouth.  So bands, managers, labels – please use the simplicity of the marketing mix / 4’ps (see below) to influence your contracts and strategy.  It may sound geeky, and you want to spend all your time drinking, playing live, and sleeping around, but it’s crucial to the music industry thriving and we all want that.

Bringing together years of music industry experience, and yes at MAJOR LABELS! we at Media Junction can work with you to put together a full marketing plan incorporating the basic marketing mix:

*The right product – are you making money from merch, music, tickets etc? Are you doing effective bundles, exclusive ranges? Are you getting the best from your retailer and direct to fan? Are you actually giving the fans what they want – quality not quantity?

*Sold at the right price – with so many more products, bundles, exclusives etc to sell, are you staying competitive?

*In the right place – are your fans getting what they want from your own store and major retailers like iTunes?

*Using the best promotion – PR, advertising and social media are crucial in attracting new fans and reinforcing the message to existing ones.  When they are all tied in together it enhances the message.  Social media plays a massive part in helping spread word of mouth – the most effective form of marketing.

Please do get in touch if you want to know more – details here


One comment on “Does The Music Industry Understand Marketing? No…

  1. ronald
    May 1, 2010

    Good post.!
    I am glad to read it.
    I wait for the next post.

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This entry was posted on April 21, 2010 by in marketing and tagged , , , , , , , , , .
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