So we know that a brand is everything that you encompass as an artist, and I always babble on about how important it is to grow your brand. Well, there is a reason for that! Your brand is worth money! If you purchase a house, more often then not, you will build equity over the years that you own the property. Just like the equity in your home, you can build equity into your brand.
Yep, that's right! Your brand is an asset! Meaning, it works to bring you the dollars! Here is an example:
Artist A is an extremely talented artist who engages really well with a crowd, can sing like no one else on the planet and has a polished overall look, but, not many people know him as he doesn't market himself or concentrate on the growth of his business, he prefers to focus on his craft.
Artist B is a decent artist, who engages with the crowd, vocals are ok, but they are unique, and the overall look is pretty good. They aren't as talented as Artist A and haven't been playing anywhere near as long, but they understand the core marketing principals and work on growing their brand and fan base.
A festival is looking for one last artist to fill their spots for this year's big festival, applications come in, and Artist A and Artist B are left to choose from. The number one question running through a festival co-ordinators head is: who can bring a crowd? Who is best known and who has the most significant online presence and following? Artist B! They don't care if Artist A spends all of his time perfecting his craft, they want the artist that will bring the crowd, so Artist A is technically worth more, their brand has more equity.
Here are 3 ways to make your brand worth more $$:
1. Work on your online presence. Building your social media platforms consistently and over time will increase your fan base. By increasing your fan base, you will begin the chain reaction of the magical "organic growth" meaning that you are converting your fans friends into fans. The bigger your presence, the more you are worth.
2. Invest in yourself. They say it takes money to make money and while I don't wholeheartedly agree with that, I know that you do have to invest in yourself, you need to invest time and you will need to spend money. Your focus needs to be on building your name, you need as many people to know who you are and even more, you need them to associate your name with quality. If you are too scared to spend money on your career, then you don't believe in yourself enough. If you are too lazy to invest time in your career, then you don't want it enough! Either way, make that decision and invest in you!
3. Continue to grow and evolve as an artist. If and when you start to believe that you can't get any better, that is the day you should call it quits! As an artist, you need to grow and evolve in every aspect of your business and life. You need to grow as a person, you need to grow as a brand, and you need to continue to evolve your music, your sound and your artist.
When you are growing and developing your brand, keep successful brands like KFC, Nike and McDonald's in mind, think about yourself as a brand, how can you build your brand, how can you consistently evolve what you have? It's a process, and over time, not "overnight" you will grow your brand. In turn, you will build equity into your brand, meaning you will be able to demand a higher fee for everything that you do, and then you will be able to reinvest a portion of that money back into growing your business.
Download the FREE eBook and I'll show you how to go from where you are now to building your die-hard fan base, releasing music and doing what you love every day!