Table of content:
How to build a strong community.
What makes quality content.
Finding your true fans.
How to maximize the value you can give to your true fans?
Community examples of content creators / musicians:
AM Hoops (Q&A included)
Mike warner (Q&A included)
Similar to other creators, musicians' main ability to monetize is directly related to the size and power of their audience.
Many musicians think the only way to success is to hit it big.
First, break the ceiling of 1000s of listeners, get signed by a big label, reach millions of listeners hopefully and finally perform in huge festivals / venues and close some big sponsorship deals.
But today, we’ll try to highlight a different perspective;
Go small and monetize big.
I believe that creators need to amass only 100 True Fans—not 1,000—paying them $1,000 a year, not $100. Today, creators can effectively make more money off fewer fans. @Li-Jin for Andreessen Horowitz
Think of two musicians, The first has over 10K monthly listeners and racks a total of 150K of streams on Spotify.
The second has a Patreon account with a $10 monthly member fee with 100 subscribers.
Let’s do some yearly income predictions for the first artist:
150K streams X $0.00318 (price per stream on Spotify) X 12 months = $5,724
And for the second artist:
100 members X $10 monthly member fee X 12 months = $12,000
We know this perspective might be a little superficial and perhaps each example has lots of different costs, revenue methods and goals.
But still, the example above showcases that going big doesn’t always translate to big revenues.
Sometimes, the best way to make your musician career sustainable is to focus on the people in your audience that have the highest value to you, rather than growing your audience with casual listeners.
But how do you build a strong community? And more so, how do you monetize from it?
Community building is not a walk in the park, to establish an active one you'll need to put on some serious elbow grease.
First of all, focus on acquisition & activation; How to get new members and how to make them active members.
The key to nailing it in these two fields is understanding your audience. How do you do that? Use all available analytics platforms.
*Check all the links for great intro guides. Both beginners and intermediates can take a lot from them.
And most importantly claim all your artist profiles across streaming platforms.
**If you need help with that check out this great course by Mike Warner.
Besides understanding of your audience, it's critical you put time and effort in creating quality content on a consistent basis.
What makes quality content?
Authenticity - Create unique, original content and not just reposts. This might take time to master, but it's worth it. Trust us.
Relevance - Publish the right content in the right place to the right people.
Reliability - Make sure your audience will resonate with the content you produce. The stronger the match between your content to your audience the higher the chance they decide to share it.
**If you're looking to dive deeper into building your content strategy we recommend reading this great guide by Sprout Social
Finding your true fans!
Not all the people you interact with on your socials have the same importance. Exactly as we mentioned in our example comparing two user, content creators should put more effort in the users who bring you the best ROI. This doesn't necessarily mean the users with the highest $ per user.
A user can be a "true fan" or a "power user" if he has higher than average engagement rates, has high share rates to your posts or he regularly refers new users to your content.
How do you find your true fans? Go over your social profiles see who are the users who comment / like / share most of your content.
Try to understand why they love your content and what makes them happy, you can give their pages a closer look or ask them directly.
Personally, we are huge fans of 1on1 communications - that’s a great way to learn about your audience and get their feedback.
How to maximize the value you can give to your true fans?
As musicians you have so much to give to your true fans, from sharing your creative process, giving exclusive access to unreleased or pre-released material or even teaching them music related skills.
Remember, when it comes to monetizing your community of true fans you should focus on creating something unique and personal.
Something that can not be accessible on your public channels.
In our humble opinion, there are 4 basic tips you can follow in order to build a strong community for your top fans.
Create a dedicated platform just for them - For example you can use Patreon, Twitch or Discord.
Be reachable - Give your fans the feeling they can communicate with you. This will create commitment from their side.
Be consistent - Let them know what your plans are for the community and produce content on a regular basis. There is no easy way out you'll need to give them something of value in order for them to stay :)
Partner with other communities and create giveaways - Two great ways to keep providing your fans with more value.
As musicians there are two main types drivers you can focus on building your community; Fandom and personal value.
So what's the different between the two? Fandom focused community are centered around a specific persona.
The audience cares about the persona and wants to form a stronger connection.
The type of content is generally more personal - for example - showcasing incomplete work, 1on1 chats and content sneak peaks.
On the other hand, personal value driven communities are centered around members wanting to learn new skill or improve.
Users become member in a journey of self improvement, the types of content generated is often online courses, tutorial videos or virtual classes.
As musicians you probably lean more towards fandom driven communities, as it is a more orthodox perspective on the connection between a musician and his fans.
But, these two drivers are not mutually excluding. Your community can have both! Your fans might be interested in learning the skills you have: For example, production skills, songwriting or music marketing.
And besides that, they can still be eager to interact with unreleased content and enjoy more for "fan" oriented content.
Another perspective is having two distinct communities - one more fandom focused and the other more personal value oriented. Think of having a Patreon page for fandom related content and a SkillShare profile for value oriented classes or tutorials.
Now, that you have a better understanding of how to build your community and the key drivers that can transform casual fans to paying members, here are a few examples that can help you put everything in perspective.
We've curated a shortlist of creators across multiple fields with various types of community. 1. Cautious Clay, musician (IG, Patreon):
Clays' Patreon members get access to unreleased content and to his creative process.
These two highly personal content types are a great example of gated content musicians can create to their most loyal fans.
2. TigerBelly Podcast (YouTube, Patreon):
First, they have different tiers - with each providing unique value.
Basic level - Exclusive content.
Mid level - Aiming to trigger true fans.
Top level - Be a part of the podcast itself, the host giving you a shoutout.
They highlight the milestones to the community and rewards them accordingly; Creating a sense of progress and accomplishment.
And.... They have pretty out of the box ideas when it comes to exclusive content.
3. AM Hoops (YouTube channel / Patreon / Podcast):
Casey Keirnan aka A.M Hoops is a YouTube channel for NBA analysis.