Connecting With Fans Brings Money

Today emerging and existing artists are trying to figure out how can they sell out their music and shows, when music fans want it for free.  Well, free just might answer that question.  I read an article from techdirt.com by Mike Masnick about the future of the music business model.  There was an interesting equation that seemed to work for artists with successful careers and those who were trying to grace the scene, which was 'Connect with Fans (CwF) + Reason to Buy (RtB) = Business Model.'  This business model emphasizes connecting with your fans and giving them a real, scarce, and unique reason to buy.  When fans get what they want for their desired price, everyone still makes money and everyone is happy.

Masnick used an example from Trent Reznor's tactic in how he encourages fans to connect with each other, offers free downloads for his music knowing that they'll show up on file sharing sites, releasing tracks under a Creative Commons License allowing anyone to share them online and offered a two disc CD for $10.  The double disc set was $75 Deluxe Edition package that included a DVD of photobook images.  He also offered $300 Ultra Deluxe Limited Edition Packages with a limit of 2,500 available, which sold out in 30 hours bringing in $750,000.  It suggested that offering free music opens up new and more opportunities for a stronger business model-- improves the ability to make money.  You can read the entire article by the following link to find out about the other known and unknown artists who have found success with this business model: http://www.techdirt.com/articles/20091119/1634117011.shtml

I believe this is a very wise strategy.  Fans like to feel like they're really apart of some kind of club, and catering to their desire fuels their excitement with you and your music.  In the end, connecting with fans increases the percentage of them becoming lifetime fans.  For new artists looking for a break within the music industry, I'd suggest giving away free music and allowing fans to create, connect with you personally other than social media, and provide quality products inexpensively to open doors for fans to introduce you to others, purchase tickets to shows, and spending more money in general because of the advantages you offer.  Limited edition products with autographed signatures are also very effective.