Posted: Jan 31, 2023
**Guest post originally featured in the Symphonic Distribution Blog.
"Effective marketing is a fundamental part of being an artist. Without it, you, your music, and your branding can only go so far. This is where spending the money for thoughtful and dependable marketing comes into play. But how do you know how much money is the right amount to help you achieve your goals? In this part of our marketing journey series, we’ll break down everything you need to know about building a successful marketing budget...
When it comes to marketing, timing is everything. It’s important to consider when the right time to pull certain triggers will be for you. For example, "Should I be focused on building an audience and a social following organically right now?" or "Is it time to invest in spreading the word more widely?" You need to consider which roads will give you the most success over time, not just for right now.
The time it’ll take to make these goals a reality will effect the amount of money you’ll need to allocate towards whatever means it’ll take to get there. Remember, each paid avenue should yield a sufficient amount of action from your audience.
You don’t want your efforts to be “dust in the wind”. Make them count.
First, consider your strengths from an internal perspective.
Secondly, consider your weaknesses from an internal and external perspective.
Finally, take a look at your strengths and ask yourself whether or not they make way for any opportunities. Based on the weaknesses and the opportunities you’ve come up with, now you can decide what your goals need to be in order for you to improve.
Once you’ve uncovered which areas will need the most attention, you can allocate funds accordingly. Some of the services you may find yourself considering range from copywriting services and release packages to video marketing, social media analysis, public relations, playlist placements, release campaigns, and more.
These services will cost you depending on how much you need and where you get them from. For example, one of Symphonic’s most popular marketing services is a marketing diagnostic and brand analysis service which includes:
All for a $400 one time fee. Other companies offer different services for prices way more than this and offer much less. It’s up to you to do your research to find what works for you and your needs. Once you’ve done that, you can tally up everything you need and adhere to whatever budget you’re able to meet.
In the meantime, here’s a basic budgeting sheet to help you out:
Meaningful advertising is a big part of any successful marketing plan. When it comes to ad spending, sit down and ask yourself the following questions first:
"I typically suggest to start with $500-$1,000 for individual releases depending on the amount of placements; if you want more, you need to spend more, essentially." says Symphonic’s own Digital Advertising Specialist, Andrew Faraone. If anyone knows best here, it’s Andrew. He works with artists every day advising them on inquiries just like this.
Your marketing budget should be based on all the services you’ll need to accomplish whatever goals you set for yourself as an artist. To make your budget as concise as possible, you’ll need to go through each action item and come up with the approximate cost of each.
Everyone is different. Assess what you need and what you don’t. You don’t need to break the bank to create useful marketing solutions for yourself. Be smart, do your research, and don’t be afraid to ask for help!"
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