When it comes to the music business, sales of music are contributing less and less towards an artist’s financial stability. New methods of accessing and consuming music has taken away from the artist’s ability to survive on sales alone. With the new development of 360 recording contracts and expensive venue and promotional costs, even earning potential from live touring has taken a hit – unless you’re already a superstar artist.
Up until recently, the full potential of building a strong personal brand for business has been overlooked by many artists and businesses. Today with more and more of global stars relying on their brands to survive financially, it is clear that building your personal brand equity as an artist and positioning yourself purposefully is essential to survive in today’s music business.
BRAND EQUITY FOR ALL.
By definition “Brand Equity is the commercial value that derives from the consumer’s perception of the brand name of a particular product or service.”
Traditionally developing a strong and definitive brand has been the priority of many leading business and organisations in order to maintain their competitive edge. Although usually associated with companies, we have seen the importance of building a strong brand being adopted by music artists and entertainers. With all the noise and competition in the market, entertainers, whether in music, sports or media have had to rely on their brands in order to stand out from their competitors and subsequently attracting more brands to work with them. Celebrity super brands such as Rihanna, Nicki Minaj, Kanye West, Drake, Iggy Azealia, Madonna and Rita Ora have been great examples of how the new brand powerhouses are no longer restricted to being ideas designed in boardrooms by executives but they are now walking, talking, breathing, active figures in the entertainment industry.
Building a strong personal brand is not just useful for publicising and selling your music as an artist but as we touched on in our previous article, image rights can be exploited and commercialised (http://www.howtobeiconic.co/imagerights/). The inception of social media, technology and the general increase of public obsession of connecting with their favourite personalities, this gives individuals the right environment to create the celebrity super brands that can now capitalise from great brand partnerships.
“Even individuals need to develop a brand for themselves …. Whatever your area of expertise, you can take steps to make people think of YOU when they think of your field.” – Accelepoint Webzine
SO… HOW DOES THIS HELP YOU?
Whether you’re at the beginning of your career or knee deep into it, create a strong brand, that resonates with your fans is essential if you want to survive in this market. Even the most elusive music artists have built strong credible brands – check out Beyoncé, apart from her amazing music, her fans (especially her female fans) love the way she empowers them. This technique hasn’t only just worked for global superstars aforementioned but we have seen British home grown talent such as Stormzy, Jamal Edwards, Tinie Tempah and many more achieve the same level of success.
- Let your authenticity define your brand
The music industry has given us many great examples of why this particular point is important. There is no definitive or text book way to behave or portray yourself. The secret to building the best personal brand for yourself is about being honest with yourself about who you are, what you stand for and what you believe, then you can filter what you choose to present to the world through your work and through your communication channels. Rapper Kanye West is notorious for his infamous rants on various platforms and subjects. Although often controversial, his zero-filter, open honesty has allowed audience to understand his perception of the world which translates into his music and other ventures. It has also attracted the right (and repelled the wrong) opportunities that have contributed to strengthening the public perception that he is giving off. As Dave Buck rightly said “When you create a compelling brand, you attract people who want the promise of your brand”. – So why not just start off authentic, it makes sense after all.
- Know your audience
Once you’ve define yourself and how you would like to brand yourself, it is to figure out who your audience is and what they expect from you. Knowing your audience will define the best communication channel and style you need adopt and which trends you need to follow. It is fantastic being authentic, however if you are communicating with the wrong crowd then you are wasting your efforts. On the other hand gathering knowledge on your following has amazing benefits. “Think about your identity and AUDIENCE before taking plunge” Katie Carroll wrote in her commentary regarding Jay Z/Samsung (Magna Carta) vs U2/Apple (Songs of Innocence) album release. Whilst the Magna Carta release was praised as a success and innovative distribution, Songs of Innocence was heavily criticised for its miscalculation in the way it was released. Not only did fans of U2 have no interest in the model in which it was released, it stained their reputation for music listeners that didn’t follow them. It’s crucial that you KNOW YOUR AUDIENCE.
- Be consistent
BEYONCE. When it comes to consistency there is no better example to look to than King Bey. We know her message and what she stands for (empowering women) and we’re pretty sure that isn’t going to change anytime soon. Whether it is demonstrated through her artistry, the activities or the messages she endorses, we know where she stands. Being consistent is not just beneficial for strengthening your following’s loyalty but from a business stand point it makes sense. People trust what they ‘know’ and if the audience can clearly see where you stand or what you represent, then you become valuable to a brand that stands for or represents that same values. Kendrick Lamar’s latest partnership with Reebook and Skepta’s recent partnership with Uniqlo are both great case study as to how an artist, no matter how niche their sound, can still forge their lane authentically and gain partnerships with global brands.
- Connect with your audience
Most importantly is to connect with your audience. Be visible and stand out. Branding and marketing is moving into an age where the consumer wants to feel the personalised experience of their favourite artists. Engage with your followers, join conversations online that reflect well on your brand and communicate with your audience. Brands are also moving towards personal engagement, so if you can cultivate a ‘close’ relationship with your audience, you’re putting yourself in a stronger position for brands to gravitate towards you because you’re creating an ambience of exclusivity and influence. All of the music industry biggest brands have huge connections with their following and tremendous influence over their audience no matter how small or big in numbers they are.
For more information on how you can build your brand as a rights-holder please feel free to contact us on hello@howtobeiconic.co
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