Tuesday, June 20th, 2023.
Hey, it’s TJ Miller, “you want some game?” Let's #tipundathehat!
For the best indie music from indie artists, click, and follow Indie Artist Of The Week Unda The Hat. This week, Nik Memphiz Be sure to hit the like button and follow this amazing group of indie artists. They will be big time soon.
Mo Per per the ounce - Let’s go -
So last week, we started a conversation about the pers, and focused on cost per click. Just to refresh your memory, cost per click shows how much you’re paying when someone clicks your ad. Now, question for ya, do you have your own website? If not you are depending on tech companies like Spotify (that's not even a music company) to give you correct and fair percentages of your money...ok good luck with that, get your own site! Websites are too easy to get from platforms like bandzoogle.com, Wix, Square Space, Wordpress etc; Anyway...I digress. Are you boosting and advertising your music? Or do you expect to just post your song or video on Facebook and IG and the 5,000 friends that you have will see it? Yeah, that ain't gon happen. On an organic post, the average amount of people that see your post on any social media platform that's not backed by ad dollars is low. Ya know how they say radio is all pay to play? Well so is social media. The average reach of an organic post on a Facebook Page hovers around 5.20%. That's about 1 out of every 19 followers/fans that's going to see your post, and really that's if you're lucky. And let's take it a step further, if you working with a personal page and not a business page, that 1 out of the 19 may not even like your type of music. Remember all of your friends are not friends because they are fans of your music. They may just be your middle school friends, older family members, or your church members who could care less about your music struggles, they just like you for you - Ahhh ain't that sweet. Ok, back to the pers. Some of the other Pers that you will need to know when you are running ads are CPC (the other one) Cost per conversion or in your case as a musician CPF (I made that one up) Cost Per Fan. How much does it take to convert a fan? The cost per conversion metric tells you how much you’re paying for each fan or sale. For example, if you spent $100 on Facebook ads and had five people convert, or buy your single your cost per conversion would be $20. You want more converts/fans that buy your music, which will make your conversion number lower. Does that make sense?
Now please understand this is advertising 101, but it's not new. Back in the day we said things like ad spend or marketing spend on a CD. Our average spend was one dollar per CD, meaning we were able to spend one dollar per every CD sold. So if we sold 1,000 CDs we didn't want to spend more than 1,000 dollars on advertising. Now a days the Cost Per Result shows you the average cost of your ad based on the result you get, and you want that CPR to be as low as possible. Additionally, there are more metrics that do not have per as their middle name but are still important members of the metric family. Here are some: Ad Frequency - tells you how many times your ad was viewed. Link Clicks - represents the number of times someone has clicked on your ad. Click-Through Rates - tells you the percentage of people who click an ad out of all the people who saw the ad. Conversion Rates - this is the big one, and most important, it tells you the percentage of people who click your ad, buys your music and becomes a fan. And there are others that would make this a very long read like Cost Per Conversion, Cost Per Result, Cost Per Impression, Ad Impressions and even more. So let me bottom line it for you, make good music, find your fans by doing these ads, be on all the DSPs (that’s Spotify and nem), have a website to sell from because there you keep 100% of your profits; then turn around and do it again!
This week's #IAOTW - Independent Artists Of The Week is - Nik Memphiz. This is th
e alter ego of Angelo Michael Martin. He is the Chicago native, bass-playing, real music-making producer, and Grambling State HBCU grad, who is funkier than a month-old sack of collard greens. Click on his name link, scroll down to his picture, then click and support. You won’t believe how talented and funky this cat is.
Click on his name link above, scroll down to his picture, then click and support. You won’t believe how talented this cat is.
For more information on this or to hire Unda The Hat as your brand or label consultant send a message via undathehat.com. See you next week!!