20+ years after Napster – There are still winners in the record label business – BIG WINNERS!
Those winners have several things in common for developing a successful online sales strategy in the 21st century.
Developing a strong online presence is essential, establishing an official website and social media accounts to promote the label and its artists. Parlaying that online presence to offer exclusive content providing fans with exclusive content, such as pre-release tracks or merchandise, to incentivize them to purchase from the label’s online store.
Utilize the power of instant communication through email marketing. Sending regular newsletters to fans to keep them updated on new releases, concerts, and other events.
Find the right partner in the modern soundscape by connecting with streaming platforms, such as Spotify, Apple Music, and YouTube Music to reach a wider audience and drive sales.
Drive cross functional experiences with bundle offers and packages that create unique product experiences with CDs, merchandise, and tickets to concerts to provide fans with a complete experience and drive sales.
Utilize and analyze the data-driven decisions, using analytics and data to understand the buying habits and preferences of fans, and tailor marketing efforts accordingly.
Find those that champion your voice and sound by collaborating with influencers and bloggers to reach new audiences and drive sales. This will help connect with fans and drive engagement and by encouraging fans to engage with the label with reviews, joining fan clubs, and participating in online contests and giveaways.
Possibly the most important step in today’s soundscape is the optimization for mobile and ensuring that the online store is mobile-friendly and optimized for easy navigation and purchasing on mobile devices.
That’s how the successful labels in the business are approaching the online aspects of their brand and capitalizing on the ever changing and expanding opportunities.
