As an artist, if you KNEW FOR A FACT that 1 out of every 100 ppl you physically met & spoke to about your music would buy a download, tshirt or other $10 merch item......would you go out and meet 200 ppl a day? 500? 2,000? If you master your approach and target the right demographic you can earn a 1% conversion rate (that means that 1 outta 100 ppl U reach becomes a customer). Knowing that you can convert 1% of ppl into fans - & that each fan will make you at LEAST $10 - means that for every 1,000 ppl you reach directly - you earn $100. For every 10,000 ppl you earn $1,000. Would this motivate you to go out and meet ppl everyday? Place promo material everyday? Hit every club night? Open mic? Mall? Sporting Event? If you pushed yourself to meet 300 ppl a day from the proper demographic - even if its just to hand them a cd - it would take you about a year to touch 100,000 ppl - that gives you at least 1,000 fans who each will spend at least $10 with you when you drop a project. So if you have a Black History release in February - then a DVD recap of Spring Break - a summer album - a DVD recap of summer - a fall EP - a DVD of your college homecoming promo - towels, tshirts, hoodies, etc for each release......youve given your fans over 5 opportunities to spend at least $10 with you over the course of a year. With 1,000 fans spending $50 a year youve earned $50,000. In order to earn more, youve gotta gain more fans - which means meeting more people. Another thing would be to get your fans to spend more than $50 a year with you - more than $10 a project. Maybe you give them exclusive music and sell your hardcore fans merch that the general public cant get unless theyre on ur mailing list. Be creative. Lastly, youve gotta leverage your hardcore fans into an army of promo monsters who share and tell people about your music. Its work. Requires consistency. But any FOCUSED artist with a plan & understanding of the business of music can make 2-3 million dollars over a 10 year period (& thats a low estimate). Most artists arent very focused tho..... Are you??? Prove it. Numbers dont lie.
Posted on: Wed, 01 Oct 2014 20:25:26 +0000
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