What is the role of a music marketing firm?
Besides promoting your music to your fans, there is a lot more to marketing your music. To succeed in music, bands, solo performers, songwriters, producers, record labels, venues, and promoters must know everything about the four Ps -- product, price, promotion, and place (distribution). Music marketing can be defined as the act and process of creating, sharing, distributing, and exchanging music offerings that are of value to customers, fans, or partners, based on the definition of the American Marketing Association.
So, a music marketing firm performs the following roles:
- Creating – Marketing is about creating music products (which you’re doing already). Whether it is one song, an album, a tour or a gig, all marketing starts with a product. Traditional marketing involves looking out at the market, determining how large it is, what it wants, and how your product stands out. In contrast to Tesla cars and cornflakes, you can’t think of your product the same way. For a musician or artist, the product comes from within. If you want to bring something into the world, you need to listen to your inner voice and figure it out. The best music marketing firms encourage the individual choices made by an artist.
- Communicating and sharing –Telling others about your music is part of marketing. The best part about doing something you love is sharing it with others who enjoy it as well. Music marketing companies help you with pre-launch announcements, launch events, and post-launch activities. They help you with branding, music promotion, and audience engagement. In order to grow your fan base and reputation, these firms handle multiple tasks ranging from releasing, streaming, promoting to distributing your music.
Delivering – You can distribute your music or product to fans and customers in many ways, including streaming, listing gigs, and/or selling merchandise, for example, on Q music Promotions. The goal is to deliver your music to fans and customers.
- Exchanging music offerings – Your music gives fans value; in exchange, they provide you with value by consuming or buying your music. Pricing is what people will pay for your product, and it should be linked to the real and perceived value of the product you offer. For example, early birds pay a lower fee at a concert at some venue. You can differentiate product value by using tiered pricing, such as standard, premium, and VIP tickets. In most cases, musicians work with third parties, and everyone shares revenue.
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