A good read for Indie Artist and their Team
Industry insider Jesse Atkinson, Founder of The A&R Power Summit and The Annual Underground Music Awards, and Yo! Promotions' partner, dropped science and gives great advice for upcoming artists and producers.
Music requires a sound strategy no matter what genre you're in. Whether you want to be a classical performer, a Jazz musician, a Hip-Hop artist, or any other type of performer, you must gain an understanding of the skills needed to establish a long-term career on your own terms.
PLANNING & STRATEGY
- The first aspect of any journey into the music business is to actually create a business. Get a business certificate, S-Corp or LLC...Legalize your music company. Get your Tax ID number and open up a small business account at a bank.
- Get a trademark for your stage name.
- Professionally copyright your music and join one of the performance rights organizations like ASCAP, BMI or SESAC.
- If you don't have a sense of direction, you will not make it in the music business.
- Define your career trajectory and outline the steps to get there.
- Create a plan and set goals as to what you need to accomplish weekly, monthly, and yearly. Be progressive, reach benchmarks and keep at it.
- Bigger battles are won as a result of smaller victories. An effective game plan includes a combination of short term and long term strategies.
- Your business plan is your road map to success. Every aspiring indie label or production company should have one.
- The features of a music business plan include: Mission, Goals, Target Market, Marketing Strategy, Revenue Streams, Competition Assessment, Break Even Analysis, Expected Sales & Management Team.
- Every artist or producer should have a "Mission Statement." A well defined "Mission Statement" focuses your energy and clarifies your purpose.
- Being an artist or producer is a "business" just like any other, and it should never be treated as anything less.
- Would you open a store without any investment capital? So, what makes being an indie label or production company any different?
- Every hustler knows that it "takes money to make money." So stop asking for hand outs. If you believe in yourself, then invest in yourself.
- Nowadays an artist has to be like a politician. You have to have a platform and an agenda. And you must get out there on the campaign trail.
- Every album release should have a marketing strategy, promotion implementation, breakeven analysis, ROI assessment, weekly and monthly sales projections.
- Do your due diligence, study the pros and cons and evaluate the ROI (Return On Investment).
- The homeboy way of doing things will not cut it in today's music industry. Always utilize contracts and split sheets to avoid problems.
- Even if you're in the entertainment business you should still study Wall Street to see how money, investments and venture capital operate.
MARKETING
- Who is your target market? In order to market your music, it is imperative that you tailor your marketing and sales efforts to specifically reach the segment of the population that will most likely buy your music.
- It is critical that you first determine or clearly identify your primary market. Your energies and funds then can be spent more efficiently.
- You have to determine what is your USP (Unique Selling Proposition). What is it about you or your music that separates you from the competition?
- Most unsigned artists just want to perform and nothing else. They give little thought to any other marketing strategy or career enhancement.
- Many producers don't get placements because they don't market themselves well, they don't network and they don't take meetings. They do a few beat battles, pass out a few beat CD's and call it a day.
- Some artists spend hundreds of dollars on studio time to create an album, but will not allocate a dime to a marketing budget to promote it.
- Performing in showcases only and sending out a bulletin on Twitter or Facebook twice a week about your album or mixtape is not an effective marketing plan.
- An effective marketing plan includes: Press/Publicity, Radio Promo, Video Promo, E-Blast Implementation, Shows/Tours, Online Promo, Press Releases & Street Team/Club Promo.
- Merchandising is an essential element to any successful marketing plan. The biggest mistake an artist could make after playing a great show is to have nothing of any interest for sale immediately afterwards.
- It's imperative for indie artists to compile a comprehensive email database of fans, supporters and affiliates for E-Blast marketing purposes.
- Indie artists should send out a bi-weekly newsletter informing their fans of new releases, upcoming shows, merchandise for sale and giveaways.
