How do I use my budget effectively?
- How to avoid that after the production the budget is already used up
- How to find the multipliers to expand your reach
- How to better manage your budget
Many artists work with a rather small budget. Our Head of Music and promotion expert Moris Marchionna explains how to plan it best so that there will be enough to promote your release.
It happens quite often that the budget is already used up when the album or single is finished. The money has been invested in the production, mix and mastering or the video, but there is hardly anything left for promotion. Our Head of Music and promotion expert Moris explains how to prevent this from happening.
“The biggest mistake is to believe that good music is automatically successful. If you don’t have the reach and the money to buy it, not many people will discover your music. No matter how good the music is. It’s therefore very important that you plan your budget wisely.Moris Marchionna, Head of Music
First you have to set a precise goal, e.g. how to increase your range. The next step is to consistently cut everything out of your budget that doesn’t bring you closer to this goal.
A professional production is a basic requirement to generate more reach but not a guarantee for success. It’s certainly worthwhile to plan sufficient budget for the production. But is it necessary to have the most expensive mastering and the best studio and do your fans really notice the difference?
Ask yourself: Can you get a similar quality from another engineer or a less renowned studio? If so, you can already put something aside for your promotion.
Find the multipliers
If your primary goal is to generate more reach, you may not have the desired number of followers on your YouTube channel or Instagram. But with a small reach and no budget it’ll be very difficult to promote your video clip. Instead of spending e.g. 2,000 Euro for a video, you better look for a possibility to shoot the clip for 500 Euro. The remaining 1,500 Euro can be invested to promote the clip or in playlist and radio promotion.
“It’s important to find the multipliers that will help you reach your goal faster.Moris Marchionna, Head of Music
If you have a good product and an exciting story, you have to build a network to distribute your music to the most important multipliers. These include YouTuber, Influencer on Instagram and TikTok, as well as traditional media and blogs.
First of all, make a list of the channels where you would like to be present. Don’t just rely on the big players, but also on smaller channels that reach your target audience. Come up with a good headline and summarize the story briefly and concisely. It’s important to build a long-term partnership. So always return the favor by marking them and spreading their posts.
As an iGroove customer we are happy to help you plan your promotion as well as your budget. Just sign up for a call with our promotion experts.