The Formula For Determining Budgeted Merchandise Purchases Is Budgeted How To Promote And Sell A Mixtape Online: Budgeting, Finance

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How To Promote And Sell A Mixtape Online: Budgeting, Finance

For many recording artists, dreams of having a successful mixtape will remain just that, a dream. Why? Because most artists, unfortunately, don’t understand how to promote a mixtape online and sell it. Learning how to market a mixtape is a matter of learning marketing and sales techniques and having a properly developed strategy. Many rappers are trying to find free ways to promote music online, however, in order to have a successful release you will need upfront money to invest in your project. Let’s take a look at some of the things you’ll need to consider in your budget before you start promoting a mixtape.

How to make a Mixtape CD

Assuming you’re going to release an entire first mixtape and prepare a written plan for the project, the following should be taken into account when funding your project:

Beat Leases and/or Beat Specials

Recording costs

Graphic Design Fees

CD Duplication / Duplication Costs

Music Videos

Cost of Affiliate Marketing

Batting Bets, Special Bets

If you don’t make your own beats, you’ll have to shell out money to buy beats for lease or exclusive rights to beats. Whether you buy beats online or offline is entirely up to you.

Let’s use these numbers as an example:

You buy 10 beat leases online @ $50 per lease with a distribution limit of 2,500 units.

Price: $500

You buy a 3-bit special that sells for $250 per device with unlimited distribution rights.

Cost: $750

Recording

Your recording costs will vary depending on the recording engineer you choose and the studio location. If you are a solo singer and you know how to record your vocals, then you will save a lot here. Alternatively consider the following numbers:

Recording rate: $50/hour with a minimum booking of 2 hours.

Let’s say it takes you and the engineer 3 hours to record and mix one song.

For a 13 song mixtape your cost would be 39 hours x $50/hour

Cost: $1950

Audio quality

Let’s say you use discmakers audio mastering services for your mixtape. Your cost for 13 songs will run $599.

Total record price: $2549

Graphic design

Continuing with our scenario, we will assume that getting a custom front and back cover to promote a mixtape online. It will cost $200.

CD Duplication/Duplication

For our purposes we will use the CD duplication services of Discmakers, purchasing 500 copies of the finished mixtape for promotion. The total cost here will run around $480. These CDs will be used for sales at shows and other performance venues.

Music Video

To help promote the mixtape online, we will create 1 music video to drive traffic from YouTube to the music.

Price: $500

Advertisements

You’ll want to keep your marketing costs to a minimum. For our purposes we will offer $1200 in savings on our marketing efforts including:

Flash Rotator Banner on Datpiff

1 Fastest YouTube Video

1 Google AdWords campaign

1 Facebook Ads Campaign

Estimated Total Investment = $6179

How to promote your Mixtape

So we estimate that you will need to invest more than $6,000 in your mixtape. The purpose of this project is to sell the mixtape at games, shows, and distribute music through digital platforms for profit. Here are a few ideas that can help you finance, promote, and sell your mixtape online.

Ask Family, Friends

Although your pride may tell you otherwise, ask your family and friends to help you financially and assist in your efforts to promote the mixtape. Even if they only donate $5, you’re $5 closer to your goal.

Crowdfunding

Crowd funding has become an increasingly popular source of funding. Also called crowd funding, equity crowdfunding or hyper funding, it describes the joint cooperation, attention, and trust of people who communicate and pool their resources, usually via the Internet, to support efforts initiated by other people or organizations.

Crowd Funding Websites: Kickstarter, Crowd Tilt, AngelList, Crowd Funder, We Funder, Indie Go Go, Micro Ventures

A loan

Personal loans, bank loans, and small business loans can all be considered financing options for your mixtape. Make sure you clearly understand the terms of your loan agreement and commit to repaying your loan in full with interest as necessary. If your mixtape project is not for profit you may consider seeking a grant.

Resources: Small Business Administration, Resources

Advance sales

You can pre-sell your mixtape before it’s released. This usually works best if a bonus offer is included with the pre-order (ie, advertising, exclusive downloads, signed copies of the project, etc.).

Sell ​​Singles

You can sell individual songs as you record them, using the initial proceeds to cover subsequent recording and/or other mixtape costs.

Tools: Tunecore, Cdbaby

Support/support

If you have built enough buzz before the release of your mixtape, you can get sponsors to cover some of your mixtape costs. Getting funding will take serious relationship building and networking, but if you can pull it off it will be a huge bonus for you.

A final thought

Promoting and marketing a mixtape is like developing a new business product. It takes calculated effort and enough funding to promote your mixtape to the masses. Hopefully, this post has given you some useful tips for promoting your mixtape online.

Good luck

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