Trent Reznor is a classic example of how artists can make cash without being signed to a record deal. He demonstrates a simple formula that can be used in any business for selling a product.
CWF
+ RTB = $$$$
(Connect
with audience) (reason to buy)
This formula seems very simple to put into
practice, however its success is based upon how this is applied. This is
where the Trent Reznor case study can be used as an example.
CWF:
To connect with the audience he conjured up
an Internet scavenger hunt, in which
you could win free gifts and tickets to his concerts. However… this website can
only be located on the back of a concert t-shirt, where certain letters of the
tour were highlighted and spelled out the website address. This gave a way for
the fans to connect beyond the music.
Another form of ‘connecting with fans’:
He dropped
USB sticks in the concert venue restrooms, containing new music. They would
go home and discover the music, and share it with friends. Causing them to feel special and connected.
RTB:
Very simply, but well thought out…. The CD’s would change color when played. This
is something that could not be pirated as an MP3 or download cannot duplicate changing colors.
He then performed
the two together:
(cwf+rtb)
He gave his fans options of ways in which
they could get hold of the music
1-
A free download of the first 9
songs.
2-
$5 for the whole 36 songs
3-
$10 for a two disk set
The next two options are
the interesting ones (and the money makers)
4-
$75 for a deluxe package (box
set)
5-
$300 for the ultra deluxe,
which were also personally signed
The reason that that ultra deluxe was so
expensive was the fact there only 2500 copies. This sped up the buying process
and evidently it worked. They sold out in 30 hours and together made $750,000.
Over the rest of the week, including the other options, they made 1.6 million
dollars, WITHOUT a music label and
with free music.
Other similar
things he has done through the CWF+RTB formula:
CWF:
·
Download an album for free by
simply giving your email address on his website.
·
Maps on Google earth to see
where other people were downloading
RTB:
·
The same day concert listing
came out so people could buy tickets immediately
·
The CD had exclusive content
and material
·
There were lots of new and
interesting opening acts, which you could also download (CWF).
His website
constantly keeps up his connection with fans by……
Not just professional
photos, but anyone who took concert photos and uploaded them to flickr, would
go directly onto the website.
There were also wallpaper
downloads, which would keep their music in mind.
There was the same
appliance for videos and YouTube.
Probably the most
important was his email to all his fans, this made him sound human, and put him
on a personal level.
The
formula can also be known as…
CWF- compete with free
RTB- back to business
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