If you never thought that you, as a musician, would never have to face marketing strategies—we’re sorry to burst your bubble. In this world, and in this economy, it is almost a given that all of us will have to face the business industry sooner or later, whatever our profession is. The good news is that experts have been devoting a lot of time and effort in producing an intellectual archive that allows anyone interested to dive into the topic. To help you in your journey through music marketing, we’re here to define what exactly marketing strategies are.
Marketing Strategies: a Definition
Businesses—and the music industry is no exception—use marketing strategies as a way to advance their products and services. Their final objective is to allow the producer to get ahead of the competition. Concretely, marketing strategies are the overall game plan (of any business) to reach prospective consumers (in the case of the music industry, an audience) and turn them into customers.
Firstly, marketing strategies are made up of the company’s value proposition (the value a business promises to deliver to customers if they choose to buy their product). Secondly, there’s the key brand messaging; as Ben Rossman explains it, it is “the overall story” of your creation. Thirdly, these strategies need the data on target consumer demographics (which you, as an emerging artist, can obtain from social media analytics). Other components vary, but these are the ones to keep in mind from the start.
The Four Ps of Marketing
A crucial part of the aforementioned components is the four Ps of marketing. These are the four essential factors involved in marketing a good or service to the public. Experts also refer to them as the marketing mix. The Ps stand for product, price, place, and promotion (of a good service).
An Overview of (the Introduction to) Marketing Strategies
As you can see from this piece, companies use marketing strategies to collaborate with their consumers. They also employ them to display the features, specifications, and benefits of their products. Summarizing it, we can say that these strategies focus on encouraging a target population to consume whatever it is you’re trying to sell.
This first approach will help you to get a larger insight on how the business realm works and how you can adapt it to music promotion in particular.