Found Around: Fan Funding: A More Focused Approach
Written by Guest Author Posted in: Found Around on October 12, 2010
Phrases like “Direct to Fan Marketing” and “Fan Funding” seem to be echoing off the walls recently. Everyone’s heard stories about artists like Trent Reznor marketing targeted products directly to his fans, or artists like April Smith using Kickstarter to fund the production of an entire album. But amidst the scattered success stories, there are a vast number of creators who are struggling to discover the power of these alleged financial opportunities. In a Music Think Tank article, Michael King -author of “Music Marketing: Press, Promotion, Distribution, and Retail,” and professor at the Berklee College of Music- provides some very telling research and insight on the numbers behind a successful Fan Funding Campaign. Exemplifying the success that authors, Craig Mod and Ashley Rawlings experienced in funding their latest book with Kickstarter, King explains how minimal price tiers, focused incentives, and deliberate marketing efforts can influence fans to contribute more than they otherwise would have. Dissecting the numbers, and providing specific information on making a plan, the article leaves you with a heightened sense of confidence in developing a Fan Funding Campaign. Read the article below and share your thoughts/ experiences with Fan Funding in the comments!
-Evan
(MTT) Using Fan-Funding Techniques to Help Direct a DTF Marketing and Sales Campaign
One of the online sales techniques I’ve been advocating in my online courses at Berklee is for artists to create different physical and digital products and make them available on their own site at tiered price points. The idea is that you can offer something for all of your fans – the hard core fans might be interested in something from you that is a little more personalized and rare, and newer fans might be able to get something from you that wont break the bank. All the while you have the ability to offer something that cannot be purchased at traditional retail, which makes the experience of purchasing off of your site more rewarding for your fans.
Here’s an example from the Yim Yames site:
