What's the Deal? The truth is you don't have much to spend
After 20 years of experience living through the evolution of the music industry, I know that there are a lot of people like me who are frustrated with how hard it is to launch a successful record label. I decided to take my own advice and take the best tactics that I have witnessed over the last 20 years and create a formula that would allow ANYONE --not just an artist or investor--to launch a successful record label. I also wanted to create a formula that could be used by anyone, regardless of their current financial situation. I know that many people have ideas and passions, but they don’t know where to begin or how to get started. This guide will help you figure out exactly what your first steps should be. And even more importantly, it will help you avoid making some of the same mistakes that I have made in my journey as a music business professional.
What are you selling
Research your target market
Conducting market research is an essential step in starting a successful record label. By researching your local and regional target market, you can gain valuable insights into the music industry in your area and identify opportunities for growth. Some key things to consider when researching your target market include the types of music that are popular in your area, the size of the local music scene, and the demographics of the people who are likely to purchase music from your artists or label. You can use a variety of tools and resources to gather this information, such as online market research platforms, music industry trade publications, and local music events and festivals. By thoroughly researching your target market, you can make informed decisions about the types of artists and music you want to release, and develop a successful marketing strategy to reach your potential customers.
Write a business plan and strategy to infiltrate that market
Once you have conducted market research and identified your target market, the next step is to develop a plan to infiltrate it. One effective way to do this is to define and build relationships with key industry players in your local music scene. That way you can find out if your strategy can get you to your end result in your local market. This can include music venue owners, event promoters, radio DJs, regular DJs, and other influential individuals who can help you promote your artist and music. On the contrary, you can reach these same types of people online as Blog owners, aggregate social media pages, playlist curators, and influencers. By building relationships and leveraging online marketing, you can effectively use your strategy to infiltrate your target market and gain a foothold in the local music industry.