Updated: Oct 8, 2021
Data analytics has always played an instrumental role in helping different industries understand consumer behaviour, consumption, habits and forecasted patterns. Providing context to the music industry, data analytics plays an instrumental role in helping music creators shape their music creations. Data is increasingly and progressively becoming important in shifting the entire life cycle of music production, as from writing, recording to marketing the song, data makes its presence felt.
Building Digital Music Retail through Data Analytics
By simply relying on demographics, behavioural patterns and purchase history, producers can comprehend what to produce next. In essence, data analytics is a guiding force enabling creators to understand the wider ecosystem, to optimise their songs, grow their recognition and fuel greater engagement within the community. It is however, important to understand that producers should allow data insights to inform the process, rather than completely drive the process.
With the presence of various digital distribution streams, creators can create an upstream trend of uplifting their presence, their recognition and their profitability, by putting analytics to the best use possible.
Wisdom of the Crowd- Gaining From Analysing Data
Music creators can harness a mixed range of data to prevent them from hitting a false note when formulating their music promotional strategy. This will allow them to create maximum value for the creative genius they invest in their music production. These insights are inclusive of the following:
Artist dashboards from numerous streaming platforms
Deep insights from social media platforms
The number of sales from a music concert/show
Link tracking data or SmartURL
Leveraging Data to Transcend Boundaries
Settled within their close-knit communities, certain gig artists aren’t entirely familiar with niche music fans – preventing them from tapping into a different consumer aesthetic or a new market. With data at their disposal, music artists wield power to shape their music, collaborate with local artists and step out of the comfort circle they are bound within.
Data enables and empowers creators to pull the lid off ideas that are bursting to grow into full bloom. With adequate resources within their possession and backed with ample consumer research, creators gain the advantage to muster an appetite for risk-taking, leading to flourishing commercial success. With data enfolded within their strategy, creators can understand which particular locations are they more popular in and can understand which locations result in more ticket sales and which particular location deserve extra effort and more attention.
With the advent of digital music publishing, the creator can easily get around music representatives or external recording studios, by having their music streamed on the best music apps for iPhone or the best music apps for Android. This direct communication and connection with the consumer enable these creators to create their lasting imprint on the user, with no external factors miring the experience.
Reinventing or injecting novelty into music emerges from the understanding of the demographic group that the music creator or the music micro-influencer caters to. This allows them to fine-tune the music by integrating relevancy into each music piece – allowing them to secure prospective brand partnerships and securing a new fan base.
By analysing data from previous purchases conducted by consumers, creators can understand how to better market their brand image. By introducing premium merchandise for fans with exclusive access, creators can get retail brands to collaborate with them and can simultaneously immerse their fans into an engaging and personal dynamic.
Travel Off Social Media Platforms
By embedding links into social media posts, creators can measure the level of a truly devoted fan base, as fans who are willing to invest for a preferred music creator, through ticket sales or paid streaming subscriptions, are fans to pay heed to.