Thom Yorke fresh from releasing an album on Bittorrent has just released a single through Bandcamp, the sales and promotion site for independent musicians.
Why? Well, he says it’s an experiment whilst he find out what works for him as the best way to sell his music. This leads us onto the topic of experimentation within your overall marketing strategy. Do you play it safe with your marketing or do you take a few risks hoping to ultimately reap big rewards? Coca Cola adopt a 70 20 10 marketing strategy. Put simply:
70% is ‘low risk’ run of the mill marketing
20% is innovate marketing
10% is potentially high risk marketing
The idea behind the 10% is though it may be risky and you might not even see a return on the investment, if it does work you may very well hit the jackpot and get a lot back in return from a small investment. The 10% if successful could end up replacing the ‘70% of today’ putting you as a market leader.
So, ask yourself, are you doing the same old things to promote your music or are you constantly on the lookout for new innovative ways to get the word out there? Maybe now is the time to take a few small, controlled risks which could pay dividends.
Got any questions about this post or how you can better market yourself?