More musings and take - away notes I took at the terrific First Ever CD Baby D.I.Y. Conference for Independent Artists:
- Pay what you want (for music) is a strategy that works. Many fans pay more than the suggested list price. Tip Jars are also OK.
- Lifetime memberships was a unique idea, and subscription services (fans pay something monthly for ongoing content) is another unique business model.
- The Label route isn't always the most productive. Once you're into a 360 deal, you have to use all the services offered by a label. So you can press your own CD for about $1 but the label service costs you $3. You can have a T-Shirt printed up for $1 but the label T-Shirt company wants $5. A lot of the advance money you get from the label is swallowed back by the label. They have someone pushing music onto radio, but with limited slots, you're competing with others trying to get a hit onto radio.
- The marketing for musicians mirrors most other small business challenges - awareness, capture, engagement, monetize.
- Always be thinking about the lifetime value of the Fan.
- Most Artists do not offer fans a way to engage them except when they release new music on Fridays.
- Blockchain and bitcoins are going to be a big deal for musicians.
- People read on phones, so all your digital presence should be mobile optimized.
Already looking forward to next year and being part of the event!
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