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Listen "157 – I Have $1,000,000 Dollars to Spend – How do I Take My Record Label National?"
Episode Synopsis
Interested in growing your label? Trying to figure out how to use your budget?
In this episode of The New Music Industry Podcast, I share some tips on how to take your record label national.
Download the PDF Transcription
Podcast Highlights:
00:34 – A mysterious question I’ve gotten a few times
01:20 – Tire kicker?
02:34 – Consider hiring a consultant, coach or mentor
03:44 – Do you know who your target audience is?
04:43 – A possible roadmap for our collaboration
04:53 – Free versus paid advice
05:34 – We could get national exposure for you tomorrow
06:22 – What does national exposure mean to you?
06:38 – #1: Facebook ads
07:32 – #2: Influencer/celebrity marketing
08:30 – #3: Direct mail
09:27 – #4: Radio
10:47 – #5: Television
11:54 – #6: Podcast tours
12:50 – Closing thoughts
13:33 – The New Music Industry: Adapting, Growing, and Thriving in The Information Age
Transcription:
Today, I wanted to answer a question that I sometimes see come through my inbox. Now, before I go anywhere with this, I do want to let you know that we appreciate the questions that come through. They really do form the foundation of the content we curate at the Music Entrepreneur HQ and we do consider content to be one of our most important and strongest assets.
You know, I would not have published four books if that were not the case. So keep sending those questions. But we do want you to bear this in mind as you listen to this episode.
I sometimes get a question, something along the lines of, I have a million dollars to spend and I want my label to go national. How would you suggest I spend that money? And this is a really weird question. Let me just say at the outset that that is one of the strangest questions you could ask.
Now, I understand maybe that is a true concern for you, but it seems to me that it's more likely it's tire kickers that are coming along and asking that question. Just to see, you know, I wonder if this music consultant guy is any good. I have a feeling he's not that great.
So let's just ask, let's just see how he would budget a million dollars. Because a million dollars seems like an overwhelming amount to a lot of people. Now, if you're in big business, a million dollars really is nothing.
But for the average person or the average musician, a million dollars would be a lot of money. So they just want to throw out some kind of astronomical figure to stump you. Well, here's how I'm gonna answer that question.
Now, there are hundreds of different marketing channels we could utilize to help your label go national. But I want to address the fact that you might just be a tire kicker to begin with before we even talk about how we might potentially market your up and coming label. If you've got a million dollars to spend, has it ever occurred to you that you might want to take a small piece of that budget and give it to a consultant or coach or mentor or somebody who might be able to help you with this process? I imagine there's a reason you're contacting me specifically.
I'm not saying you haven't reached out to other music consultants, as I'm sure you have. But here's the thing. This is how I make my living.
I offer advice and tips, and tools for musicians. I create books and eBooks and courses. And we also do some advertising and affiliate things on the website.
But I also offer one-on-one coaching. Were you aware of that fact? Maybe not. Here's the thing.
If you had said, I have a million dollars to spend and I'm gonna give you 10% of that to help us create a marketing strategy for our label, I would be on the next flight down to wherever you happen to be located. And we would begin to get to work on this right away. I would help you hammer out a strategy based on your target audience.
But here's the thing. You don't even know who your target audience is in the first place, do you? Because if you did,
In this episode of The New Music Industry Podcast, I share some tips on how to take your record label national.
Download the PDF Transcription
Podcast Highlights:
00:34 – A mysterious question I’ve gotten a few times
01:20 – Tire kicker?
02:34 – Consider hiring a consultant, coach or mentor
03:44 – Do you know who your target audience is?
04:43 – A possible roadmap for our collaboration
04:53 – Free versus paid advice
05:34 – We could get national exposure for you tomorrow
06:22 – What does national exposure mean to you?
06:38 – #1: Facebook ads
07:32 – #2: Influencer/celebrity marketing
08:30 – #3: Direct mail
09:27 – #4: Radio
10:47 – #5: Television
11:54 – #6: Podcast tours
12:50 – Closing thoughts
13:33 – The New Music Industry: Adapting, Growing, and Thriving in The Information Age
Transcription:
Today, I wanted to answer a question that I sometimes see come through my inbox. Now, before I go anywhere with this, I do want to let you know that we appreciate the questions that come through. They really do form the foundation of the content we curate at the Music Entrepreneur HQ and we do consider content to be one of our most important and strongest assets.
You know, I would not have published four books if that were not the case. So keep sending those questions. But we do want you to bear this in mind as you listen to this episode.
I sometimes get a question, something along the lines of, I have a million dollars to spend and I want my label to go national. How would you suggest I spend that money? And this is a really weird question. Let me just say at the outset that that is one of the strangest questions you could ask.
Now, I understand maybe that is a true concern for you, but it seems to me that it's more likely it's tire kickers that are coming along and asking that question. Just to see, you know, I wonder if this music consultant guy is any good. I have a feeling he's not that great.
So let's just ask, let's just see how he would budget a million dollars. Because a million dollars seems like an overwhelming amount to a lot of people. Now, if you're in big business, a million dollars really is nothing.
But for the average person or the average musician, a million dollars would be a lot of money. So they just want to throw out some kind of astronomical figure to stump you. Well, here's how I'm gonna answer that question.
Now, there are hundreds of different marketing channels we could utilize to help your label go national. But I want to address the fact that you might just be a tire kicker to begin with before we even talk about how we might potentially market your up and coming label. If you've got a million dollars to spend, has it ever occurred to you that you might want to take a small piece of that budget and give it to a consultant or coach or mentor or somebody who might be able to help you with this process? I imagine there's a reason you're contacting me specifically.
I'm not saying you haven't reached out to other music consultants, as I'm sure you have. But here's the thing. This is how I make my living.
I offer advice and tips, and tools for musicians. I create books and eBooks and courses. And we also do some advertising and affiliate things on the website.
But I also offer one-on-one coaching. Were you aware of that fact? Maybe not. Here's the thing.
If you had said, I have a million dollars to spend and I'm gonna give you 10% of that to help us create a marketing strategy for our label, I would be on the next flight down to wherever you happen to be located. And we would begin to get to work on this right away. I would help you hammer out a strategy based on your target audience.
But here's the thing. You don't even know who your target audience is in the first place, do you? Because if you did,
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