Some people dont realise that the relationship from label and artist is business to business, so in that respect, what does the future hold for this very dark and ever changing industry and how should record companies focus their marketing efforts to revive markets through the internet?
Social Marketing is a new medium and for some a deeply confusing new chapter of e-marketing, but it shouldnt be, in my experience some of our best sales conversions have been created from creating new market niches to customers, bringing artists closer to the fans through internet mediums is getting popular daily, Myspace alone gains 120 million uniques a month,(source: wikipedia) even a thousandth of these user levels are potentially customer conversions.
The flexibility of artists in social marketing means that in essence it should be easier to push as a brand without the fear of reprisal from being accused of spam, branding new releases through social bookmarking should be a new nessecity since a well structured social marketing campaign can bring massive conversions and of course the instant search engine submission that bookmarking can provide.
I have created site "hubs" dedicated to new release and tour packages for artists using the power of SEO, bookmarking and viral to give that almost landing page effect to my campaigns, something i see very little of from any industry bods.
Why not?
Not only is it cost effective, year on year it is believed that internet advertising growth will expand to $147 billion by 2012, from 2007 of $45 billion at an annual growth rate of 23.4%
(Source: The Kelsey Group)
with the music industry and economy in a constant down turn, the Label & Artist marketing future should be examined further to this extent.
Social marketing is a concern for chief marketers - its time consumption and the concern over its conversion and ROI rates, but it shouldnt be, a well executed plan can, i believe make the future of music marketing, a successful and prosperous one.
Chris
Ultima Media Group
www.ultimamediagroup.com