The digital world has created opportunities for artists to share their music with the world. With online services like Spotify, Apple Music, and Tidal, music lovers can listen to their favorite songs anytime and anyplace.
There are still many platforms that artists do not have access to that typically offer the same features as the other platforms:
— Apple Music offers on-demand streaming of songs from a catalog of over 43 million tracks and access to exclusive content.
— Spotify offers on-demand streaming of songs from a catalog of over 30 million tracks but does not offer exclusive content.
— Tidal provides on-demand streaming of songs from a catalog of over 20 million tracks but does not offer exclusive content.
Why Data-Driven Marketing is Critical for Musicians
In today’s day and age, the importance of data-driven marketing is becoming more apparent as companies are looking to optimize their marketing efforts. This is especially important for musicians.
Data-driven marketing can help artists figure out how they can generate a greater return on their investment when it comes to social media engagement and the number of views on YouTube videos.
It is also a good practice for artists to use data-driven marketing in order to control the brand awareness and reach of their music.
Create a Proven Business Model to Monetize Your Music
Music is a highly undervalued asset, and it’s important that you use this to your advantage.
There are many ways to make money off your music, depending on what type of music industry you’re looking to enter.
A business model will guide you in the right direction and help with the decision-making process in terms of which path to take.
Create an Outstanding Mobile App and Playlists for Engagement and Revenue Generation
As a musician, you have to think of a way to generate revenue for your app. Here are some ways in which you can do that:
— Create playlists with music that is similar to the kind of music you create. These will be an excellent tool for your users and help expand your network.
— Use the app as a platform to sell physical copies of your songs online or even just through iTunes or Amazon.
— Have an ad-based model where they use content from the app, such as videos, for ads.
Engage with Social Media Platforms to Build an Audience that Loves Your Song
Social media platforms have changed the way musicians reach out to their fan bases.
We should not think of social media platforms as a replacement for traditional marketing channels. They are just an important tool in the audience-building process.
These tools provide musicians with a great level of engagement and exposure in a short period of time. It is important to stay authentic and genuine when using social media platforms to build trust with your fans.
Use Analytics Tools to Keep Track of Sales, Downloads, and Plays
Analytics tools are database tools that allow you to keep track of your music sales, downloads, and plays. The process for using analytics tools is simple as they provide statistics on how much your music has been streamed and downloaded from different platforms.
Music analytics tools have come a long way since the early 2000s, when it became difficult for artists to know their numbers in the industry. Nowadays, online platforms like Spotify allow users to see their streaming data in an easy-to-read chart format.
The most popular analytics tool will depend on what type of artist you are — digital or physical — as well as what type of data you’re trying to track.
A lot of people are still skeptical about the idea of making money with music. But the truth is that you won’t need a record deal or a talent agency to make money with your music.
Many artists are actually able to monetize their songs on platforms such as YouTube and Spotify. So, there is no need for you to depend solely on record deals and talent agencies anymore.
If you’re just starting, consider going on a tour or playing at smaller venues before you decide to get into the industry.
You can get by with some basic equipment in fact. This is actually recommended. You should also make sure that you have a good online presence and are marketing your music as much as possible to reach more audiences.