Crowdfunding the Right Way

In the past, money was a huge barrier for musicians, and one of the main reasons many were forced to tie themselves to a record label. Today, many musicians are finding their own ways to creatively fund their albums and tours, with the most popular option being crowdfunding. Crowdfunding is a huge undertaking, but, if done correctly, you can come out of it with a whole lot more than just money. It also presents dedicated and creative artists a chance to connect with their fans in a whole new way.

Learn how to run a successful crowdfunding campaign with these 5 tips

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MusicThinkTank.com | October's Most Popular Posts

MusicThinkTank.com takes great pride in being a renowned resource for all who comprise today’s music industry. We appreciate the conversations you start, the advice you share, the projects you promote, and the feedback you share and we want to encourage your continued efforts.

Thanks to our loyal readers and contributors, October was a great month for MusicThinkTank.com - so today, we’d like to share that success with you by highlighting October’s most popular posts. On behalf of MusicThinkTank.com, thank you for your support. We enjoy providing a unique platform where the music industry really can think out loud!

Laura Schneider, MusicThinkTank.com Community Manager

34,708   MTT (Journal) 4,685   MTT - 49 Ways to Get Free Music Promotion (Journal Entry) 4,606   MTT Open - 10 Awesome Independent Record Labels [LIST] (Journal Entry) 3,967   MTT - A&R Tips: The Art Of The Press Kit (Journal Entry) 3,755   MTT - Top 10 Rules For Better Songwriting (Journal Entry)

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The Music Marketing Manifesto. Ten Principles For Success

1. Write, record and play high quality music

It seems like an obvious thing to say, but everything starts & ends with the music. If the songs are poor, the recording is bad, and the live show is dull don’t expect to make a living from music.

2. Continue to only deal in high quality

Some of the best new bands and artists are let down by terrible videos, bad photography and shocking design. Yes it is fickle, but judging a book by it’s cover is a reality. When you are choosing which artist to review, book, or even sign you are invariably drawn to the most attractive presentation. So why not increase your chances of being heard? Remember, you can have the best music in the world but if nobody listens ,you get nowhere.

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How Much You Should Ask from Sponsors

Recently, I received an email with two commonly asked questions about sponsorship that I’d like to address:

1) How much can you ask from a sponsor?
2) My project costs X dollars, should I mention that in my pitch?

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Getting Sponsors For Your Music

This morning, I read an article that talked about how hot dog manufacturers have been closing six to seven digit sponsorship deals left and right, especially with local football and baseball teams. I immediately thought: how could a partnership like that be beneficial for everyone if my band got involved?

When I first wrote How to Get Sponsorships and Endorsements, I wanted people to stop thinking of the sponsor relationship as a one way transaction. It isn’t, it is a partnership. Unless you think of an equitable way for everyone involved to benefit from the relationship, you will not create lasting partnerships and you will not attract sponsors. People are starting to understand this about social media (it’s about conversation, interaction, engagement not just promotion), but that concept still hasn’t hit home in other areas. So before you go chasing down a company asking for money, really focus on developing these points:

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How to Get a Sponsor or Endorsement: The Sponsorship Packet/Proposal Outline

Here’s a general outline/template that you can adapt to be more effective in your sponsorship packet. You should design your packet specifically for print as well as a digital file. The most important thing to keep in mind is the perspective of the sponsor: How does the proposal benefit them/their customers/their employees? What can you offer that is different than the other sponsorship proposals being sent to them? Is it easy to take action?

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How to Create a Successful Kickstarter Campaign

For many years, I’ve held some doubts about Kickstarter and crowd sourcing in general. For some artists, I thought it was a great fit for the culture of the band. However, for my personal band, I had some more reservations. I thought it could make the band look desperate or be a huge embarrassment if we ended up being pitifully distant from meeting the goal. However, we had a serious of setbacks that required large, quick funding and decided to give it a chance. Our band was able to raise $14,511 of our $10,000 goal for a new bus in 20 days. Here are some general thoughts, tips, and lessons learned:

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How to Get Sponsored: Rethinking Sponsorships

When most people who want sponsorships think about their ultimate goal, it involves money. They’re looking for someone to fund their event, to pay for their tour, to raise money for their charity, and so on. When many business think about sponsoring someone, it ultimately involves money as well: even if it is an incredible cause, at the end of the day, they want to know how sponsoring will help them get more customers. Each party treats the sponsorship as a transaction. However, I believe it is important to shift the definition from “a cash and/or in-kind fee paid to a property (typically sports entertainment, non-profit event, or organization) in return for access to the exploitable, commercial potential associated with that property” (IEG, 2000) to something more equitable: a partnership.

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How to Open for a Major Artist/Band

There are a few ways to make sure you get to open for a major artist in town:

1. Develop a consistent reputation with promoters in your area that you can pack out whatever venues you play. Part of getting this great buzz about your music is getting into local press or radio stations (usually with the help of a publicist), being proactive about promoting your shows, and demonstrating that you’d make a good fit for the show.
2. Buy your way in. Either you’ll be asked to sell a minimum number of tickets (and pay the difference if you are short) or pay the performer up front.
3. Enter a random contest that you have no control over (sometimes local promoters or radio stations have a contest for local artists to enter), but the results usually have to do deal with option #1 (how much of a buzz do you have).

The first option takes time, energy, and hard work. In the process, you’ll gain the respect of the local music industry. You’ll build true fans that will come to other shows, buy your merchandise, and support your career. It’s the equivalent of a business building solid, regular customers. If the act you’re opening for likes you, you’ll be invited to do future shows with them and they’ll probably encraouge their fans to support you.

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5 Tips on Getting a Label, Sponsor, or Booking Agent

1. Treat it Like a Job Application

I can’t stress this point enough. If you want to get the right sponsor, label, agent, etc., you have to treat the process like you would for a high-end job. You wouldn’t send a generic cover letter filled with typo’s and grammatical errors or an incomplete resume would you? It seems basic but nearly 70% of the submissions I receive lack some of the basics - at least 20% forgot to include the band’s name or a link to the website. If you want a someone to take you seriously, then you have to take yourself seriously enough to make sure the presentation is just right.

It’s often said “It isn’t what you know but who you know.” Just like job applicants who have a mutual contact or letter of recommendation have an advantage, artists that have spent their time networking and building their reputation will have much greater odds. Think of A&R reps as recruiters or the HR department. Put yourself in their mindset, ask someone else to look at your press kit before you hit send. Try not to send unsolicited demo’s (if it is a company you want to work with, introduce yourself and get to know them first).

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An Argument Against Fan Funding

Anyone can make a record for next to nothing these days. Almost any other hobby is more expensive: photography, mountain biking, even video gaming. When a teenager singing into a webcam gets exponentially more views on YouTube than your latest “professional” video, the answer isn’t more money.

You’re just not there yet. (hey, don’t feel bad - I’m not either) Tracking at Abbey Road Studios won’t get you there. Hiring T-Bone Burnett to mix your album won’t get you there. A full-day mastering session with Bob Ludwig won’t get you there. 10,000 pressed CDs with 18-page inserts won’t get you there. A $5,000 promotion budget won’t get you there either. No matter how much money you throw at your project, we’re all limited by a stubborn principle called free market pricing. People are only willing to pay what a product is worth to them, not what it costs to produce. The intrinsic value of music is in free fall, and people won’t pay for it if they’re just not that into you. So why are musicians flocking to fan funding (also known as “crowdfunding”) sites like Kickstarter, Sellaband, Slicethepie, PledgeMusic, and artistShare in droves? My guess is that they figure “why not give it a shot”? Well, I’ll tell you why not, and offer a better option.

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MTT launches the Indie Maximum Exposure 100 Blog

As of today, you will find a new menu item in the Music Think Tank menu that is simply labeled 100.

The Indie Maximum Exposure 100 blog was created by a team of industry experts and by artists that are making a full-time living from their music. 

The 100 is an essential read for all artists; it’s a clear and concise guide to 100 important things every artist should consider.  Check out the Indie Maximum Exposure 100 on Music Think Tank.  Here’s a category list:

The Entire List (100)
Fostering Relationships (13)
Making Money (12)
Mindset/ Who You Are Being (16)
Online Resources (Where to Submit) (20)
Recording and Releasing Material (8)
Social Media/ Internet Strategy (16)
Touring/ Live Performance (15)

How Do I Get Booking Agents To Take My Band Seriously?

The answer to this question is simple, straightforward, but not necessarily the easiest to stomach. So here goes….. Drum roll…..The best way to get booking agents to take your band seriously is…..

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