How Musicians Can Add Value To Others [GUEST POST]
This post was written by Greg Rollett, a music marketing guy from Orlando, FL. Check out some of his free musician resources here or holler at him on Twitter (@g_ro).
Musicians sell music. At least that’s what 99% of musicians think. In reality they are selling a lifestyle, mixed with experiences. And its getting harder and harder to make a living off of this type of business model. We all hear the numbers and they suck. Pretty big suckage going on.
What’s really going on is the laser focus on album sales. This is just one source of income, and one that artists have not been paid on for years. In fact, Tom Silverman from Tommy Boy admits to it in a recent Wired interview stating:
“We’re the labels, they’re the artists, and we make money even if they don’t make money. We reduce our risk, they put their blood, sweat and tears into it, and we only give them money when we sign them and when they deliver a new album.”
So if artists are not making money on the actual music, and people are buying less music – why don’t we look at business models that are working. These are typically value driven business models.
Yes, there is more work involved, but whoever said the music business is easy was drinking too much Ciroc Vodka becuase Diddy told them to. These guys work. The actual music making is in reality only a small percentage of a pro musician’s life and lifestyle.
Late night interviews are no different that getting featured on a blog or getting a review. Radio shows = Podcasts or play on Grooveshark. Find the value that the audience wants. The money will follow. The lifestyle will follow. My favorite line on the Silverman article mentioned above was when he stated:
“[Another focus is on] redefining success. It doesn’t matter if you don’t have a top ten record anymore — it just matters that you make enough money.”
Define your ideal lifestyle and work backwards to create the value driven business model. What do you NEED to cover bills? What would be your ideal lifestyle? Do you want to travel? Or tour? What does that cost?
From there, work to create the business model that fits your vision. If you need to make $100k this year and the only product you have is a $10 CD, then you better start hustling and sell 10,000 copies.
What if you created more business opportunities? Higher priced products with better margins? How about an iPad ready download with graphics, booklet, MP3′s and a custom iPad case? I bet you could package that for $30-50 and run it at an 80-90% profit margin. Does that $100k seem more realistic now?
When looking to get your music on blogs, like Chris asks in his e-book, what value do you bring to the table? Are you a huge MMA nut? Can you find a few MMA blogs and talk about the entrance music, predict the fights or how your music is influenced by the fighters? Do you think the author is more likely to post your blog? Do you think the readers will be more likely to click the link at the bottom of your post?
You bet. It’s all about value my friend. And if there was never much value to an artist in a $10 plastic disc, why place so much damn value on it now?
I know I asked a lot of questions and now its time for you to answer. What are your thoughts?
[Image credit: Click here]
