If you have been trying to make more money from your music these following tips will help you. Depending on where you are in your career, realize that it takes time and persistence to be able to monetize your music to the point where you can make a living. There are no magic bullets to get you there overnight, but there are ways to speed up the process in relation to doing things that have worked for the industries best when they were in your position not too long ago.
5 Tips To Help Monetize Your Music
1. Email List
1. Email List
From Ed Sheeran, to Jamie Fox, to Kevin Hart. Successful performers, musicians, and comedians have been using the technique of email lists for years. The way they used email lists in the early stages of their careers was through live performances. Any time they would perform. Whether it be at a bar, a club, or your house party. They would put a card on the table for the audience members to fill out with their email so they could keep up to date on new performances and shows they will be having. By doing this the performer and audience member created a personal relationship. You sending emails checking up on the audience member who appreciates your work will create a fan for life.
2. Create Contests
Creating contests for your audience gives them an extra incentive to support your career financially. An example is if you enter your email address you can win a free t-shirt, ticket to the next show, or have a chance to meet the band. Anything that creates a chance for the fan to win extra is a great way to increase your fan base and monetization rate.
3. Create Scarcity
Scarcity comes in the form of not letting everyone in. You may be thinking that this sounds counter intuitive, but in actuality it makes the fan more interested and exclusive. When you have been promoting a release. Until the final days you are offering a limited edition on something, at the right moment you can create a password for people who signed up earlier to create scarcity. This will create urgency for your fans to buy now before they miss the chance.
4. Give First To Receive
This tip is a long term strategy to monetize your work. This strategy works in the form of giving your music and everything around it away for free. In exchange for the free content and materials you require at the very least an email from those who receive. This goes back to collecting email lists and cultivating your audience. Over the long term you will be able to monetize the people on your email list that much easier now that you have built that relationship.
5. Use Different Sites
Spotify, SoundCloud, Patreon, MariNation, Amazon, Apple Music, Bandlab, Sync Licensing Sites, and more are all at your disposal when it comes to monetizing. There are two approaches when it comes to using sites like this. When it comes to streaming you can either spread your music all around to see which site produce the best results, or you can double down on only one site and drive all your fans to that specific site gaining more streams from the individual site. When it comes to other sites apart from streaming the first approach is advised.
Conclusion
These 5 tips will help you move towards monetizing your music in a more effective way. With the long term mentality by fostering relationships with your fans you can't go wrong. Try all of these ways to see which one works best for you and your audience. It's exciting that you will start to monetize your music and see the success these strategies can bring you.