Connect With Us

Add Hypebot To Circleson

Enter your email address:

Delivered by FeedBurner

• TUNE MTT RADIO
SEARCH

Music Think Tank Open

Anybody (no really anybody) can contribute anything relevant to this page…All mp3s should be posted on the MTT radio page. If you cannot find your post here, your article may have been moved to the MTT homepage.

If you would like Music Think Tank to publish your contribution, please read our posting guidelines and our posting advice.

Entries in budgeting (4)

Monday
Jun092014

#1 Reason why you fail as a musician Part 1 of 2.

How do musicians succeed in the music industry? Is it great music, practice, tours, shows, social networking (not social shouting or a numbers game), posting our music in the correct places for people to hear, monitoring our subscriptions, making industry connections, doing yoga, etc etc.? Yes all of these things are important and must be done, however, there is one huge reason why we fail in the music industry, interaction investment, you know it as marketing.

Now I am not just talking about investing in marketing here, which would say we need to get our music to the masses via the inter webs, word of mouth, playing shows etc. etc. What I am talking about is how people enjoy music threw touch, feel, taste, sight, smell, and sound.   

We have to take all these elements into consideration when starting a project. What gear will you buy that allows you to play live, record, and let your fans participate? Maybe an Arduino is in your future? Perhaps you incorporate touch sensitive lights embedded within the cd cases? Or maybe a smart phone app enabling the audience control over the mood of the room at a show?

The amount of money you invest into how people will interact is such a big piece of the puzzle, if you fail to invest the right amount of money the correct way, you will never get anywhere outside of your small market of fans. 

So how much money should we spend on marketing/interaction? The math is extremely simple: half of our budget goes toward marketing/interaction. Half, not 10% or 20%, but a full 50%. If you have a $10,000 budget, half, $5,000 goes towards recording the project, and the other half, $5,000 goes towards pressing up those CD’s, making a video, printing posters, getting placements in magazines, flyers, radio spots, but also ways to interact with the audience within these other methods. 

I have seen it all in my music career working with the up and comers, to some of the most influential people of our time like PomplamooseLauren Mayhew, and OK GO. One thing that always separates the top from the bottom is who treats it like a business and who doesn’t. Up and comers fail to treat it like a business and fail to implement strategies, or make the right investments, for the future. Marketing is always an after thought to them and they say things like “all I have to do is put it up on iTunes, Reverbnation and post it to Facebook and I’m set.” This is so far from the truth that when months go by and they have no substantial sales they question why, or blame someone else. The truth is, people want to connect and interact with the music. Let that soak in for a bit, interact with music. 

After working with groups like these, I have learned a few things. One, make great music, and Two, invest into some interactive marketing tactics. The case can be made for Pomplamoose that they did not really spend much money on marketing/interacting to gain their popularity, and the same could be said about Laruen Mayhew or OK Go, however, for the purpose of their case studies marketing would fall into the category of interaction. Yes, interaction.

Videos are not the same thing as recording an album - the music is the music - they supply a means of interaction with people, or do they? In a sense, yes, videos do supply interaction. Videos allow the audience to see the group while hearing the music, but this is not really interacting by itself. Thinking outside the box, to make it more interactive, is key in the future of videos. Pomplamoose does a great job of this by not only creating unique videos but by engaging their audience through the process. They ask questions to their audience while making the videos and use the input to get to the final stage, thereby interacting with the audience in a refreshing way through their videos. 

Interaction becomes a function of how & where we are going to place those efforts as an expressive method. In the end it comes down to two elements: Playback and Interaction. 

Playback is the creation, recording, and playback capabilities of the project in its entirety including concerts, cds, .mp3s, and vinyl.

Interaction is getting people to interact with the music, band, artist, or art with touch, feel, taste, sight, smell, and sound. 

We can take interaction a step, or many steps, further then I have touched on, and in part 2 I will discuss how to really engage the audience using feel, taste, sight, smell and sound with two case studies and ideas on how to better bring these concepts to your artistry. 

The biggest thing to remember; create a budget that is achievable for yourself and make sure you put enough money aside for marketing/interaction. Remember, its a 50/50 split between music creation/recording and marketing/interaction. If you don’t follow this rule, don’t expect to be a household name.

 

===========================================================================

With over 13 years experience Zaque Eyns innovative ideas, creativity & understanding of the entertainment industry have helped many individuals realize their goals & objectives. From time management to creative execution of audio or that “can’t be done” idea, Zaque Eyn understands how to deliver top tier product calling it, Creative Empowerment. He founded Funksville, U.F.O in 2008; boutique creative empowerment agency, developing and delivering innovative projects while establishing a solid community of business professionals, and most recently became an author of the book Mastering the Music Business. His specialties include: producing, sound engineering, events, marketing, branding and fashion; each project rooted in successful business approach and strategy.

 

 

Friday
Feb012013

Making the most out of touring... 

I’ve been touring for almost a decade now and have developed some strategies that have helped…….. When we first started hitting the road, we’d leave town in our ice cream van with a bottle of Jack Daniels, some other accoutrements, and just took off for the first city… our plan was always to see which guy in the band could score a girl to like him that night, then we’d all follow her to her house and crash there. Well, that didn’t always work and when we started getting real girlfriends, you can imagine the drama that THAT caused!
 These days, whether I’ve got label money for tour support or we’re going out on our own I follow a few simple rules that end up saving me a crap load of money.

Click to read more ...

Monday
Aug062012

When Running A Record Label, Don’t Forget To Budget For Recoveries

Nothing is more fulfilling than opening your record label, getting your artist in the studio, laying down some tracks and mastering your final project. You’ve gotten investors involved who really believe in your project as much as you do and they’re putting a significant amount of money behind your company for both production and marketing. The only uncomfortable part about the whole process is that they have accountants, business managers and financial gurus working for them behind the scenes and they need you to put together a budget

Click to read more ...

Monday
Jun132011

Little Known Tactics for Greater Touring Profits

For many independent artists organizing do-it-yourself tours, a common question  is, “How can we make more money on tour?” One of the simplest methods: by spending less. Here are some ways you can cut your expenses while on tour which leaves room for more profit.

Whether you’re planning a national, international, or regional tour the goals are the same: earn income while promoting yourself in a familiar or new territory. Reaching out to fans and connecting personally at your concerts are the keys to gaining a dedicated fan base and generating buzz around your band. Admittedly, while overall comfort plays a key role in combatting tour fatigue and  maintaining performance levels, sometimes comfort isn’t an option. If tour expenses are outweighing guarantees, try implementing some of these cost-cutting  travel techniques tailored for the DIY, self-booking independent artist. 

Click to read more ...