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Record Label Business Plan
Convincing distributors or stores to purchase your music is only part of the battle when marketing your record label's work. The expense of marketing the artists and driving customer to stores or iTunes falls to your company. You must present the marketing plan and why it will work in your record label's business plan. Here are some methods that may be right for your company.
Concerts and Tours
The most immediate, direct way to get consumers to appreciate the music of your artists is for them to hear the artists live. This may become a bit of a "chicken and the egg" problem for you: concertgoers have to know of the artists, and have heard their music before, to want to attend their concerts, but concerts are a key way to market the artists. This is why newer artists are often sent out as opening acts for more established artists. As long as your label is skilled at successfully pairing your artists on concert tickets, you can benefit both groups of artists through this strategy.
The release of a new album is newsworthy and, even if it does not seem newsworthy, it is the job of your company's public relations director or firm to make it so. By encouraging new articles about the release and feature articles about the artists, PR people can create what amounts to free advertising in magazines and newspapers. Press releases must be tailored to the media outlet as much as possible, spoon-feeding them the "story" that should interest their readers.
Developing an email list of music listeners who enjoy the bands your label represents may take time, but eventually offer a built-in base of potential buyers for each new album release. It is important to make it easy to sign-up to the label's email list at multiple points of contact - within CD liner notes, at concerts, and on the label's website. Clearly, you need to attract customers to either buy CDs, attend concerts, or visit the concert before these emails can be collected and the email list can become an asset. The email list is a supporting marketing tactic to after other, "seed" marketing tactics.
Want more tips? Here's a related article: How to Start a Record Label.
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