Rapper LiL John: “Once you get popular, you have a brand, and once that happens you have to market that brand.”
In my line of work this is called "Association Marketing" and its HUGE...with the emergence of newer technologies changing the landscape of how consumerism is translated, hip hop culture in particular is availing itself of every new technology that's out there. Never before has it been so important for music artists to focus on their ventures outside the recording studio, and they know it. In no other genre of music, has this diversification become as common or lucrative. Hip-hop fashion, footwear and accessories alone are a $2.6-billion industry and Hip Hop music is a $5-billion dollar ring tone market. Even late-blooming rap pioneers like Grandmaster Flash was said to have released a children’s book a few years ago that came with a fitness DVD.
DJ Quik said: "You've got to have an auxiliary income that far exceeds what your bread and butter is.”
$$$ Revenue is slower due to less demand - and in the world of music sales this isn't no different, layoffs within companies have hurt morale, and credit is even harder to come by - but what is truly worrisome for business owners is this question: How much should I spend on advertising? There tends to be a correlation between what is invested on advertising and the revenue that is generated. And if there isn’t, then you’ve been spending far too much on advertising.
I have heard of the coming advent of ads by way of text message, and I believe this area of marketing will expand even more with music related content. Unlike traditional advertising media, i.e. newsprint, radio, and television, text messaging can prove to be more cost effective (Just ask Barack Obama, who inspired a people-powered revolution and commanded organizers via text-messaging). This is the new age of viral marketing or what experts are calling "Social Media Marketing". I've read up on a company called Ecotextsmart (owned by parent company Salient Mobility) and they operate on a permission-based text-messaging system, urging subscribers to text in, because of incentives. Incentives typically, are things like - join our mailing list to receive discounts, sales notices, etc and it works.
This is something I'll be looking into alot more...
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