PURCHASE DECISION TIME

It isn’t just the economy…or marketing clutter…or technology…or number of entertainment options…or price, that has reduced the time consumers take to make purchase decisions, it is all of the above.  This should weigh heavily in your mind as you are drawing up marketing plans for 2010. 

PRINT

Not dead…well certainly not for music anyway.  Fans still go to their local weekly publications for news about what’s happening around town.  The key is to change your messaging if it isn’t working.  Dailies have a place in the world too, but not for your advertising.  For those managers still making promoters buy full-page break-ads in the NY Times, please stop.  Monthlies, their deadlines are too far out for most of us.  How do you know what your messaging should and will be in 3-months?  

Social Media

You need to really commit yourself to this.  No sticking your toe in the water.  There needs to be a fulltime voice or voices online.  You can’t go half-ass or fans will either take over the conversation or you will end up talking to yourself.  If all of your social media efforts are self-serving, you will fail.

TV

If you are going to use television, start producing content the public will take notice of.  Remember what you are competing with. 

SEARCH

Search marketing such as Google and Yahoo! can be very effective.  Just don’t buy-in to your marketer’s claims of 300% ROI.  A click isn’t a purchase.  Measure appropriately. 

RADIO

Again, don’t listen to those holding the crystal balls.  In 2010, radio is still a very effective way to reach a targeted audience.  The problem is our radio spots are too cluttered.  With all the sponsors, pre-sale info, new album info, promoter info, “concert series” info, and website addresses, most of the time the message we want to send isn’t getting through.  Test for yourself.  Listen to a radio spot from a national advertiser and then one of ours…on the radio.  It will make you laugh. 

PUBLIC RELATIONS

PR is a lost art.  What happened to publicity stunts?  When did our talent get so precious that they can’t speak with journalists anymore?  If you can find a good publicist… like I did with Giant Noise, you should hang-on for dear life. 

YOUR WEBSITE

Keep it simple and easy to navigate.  Make sure you have as much information as possible on your site, as well as a place for visitors to contact you.  If guests don’t have a way to purchase tickets on your website, kill yourself. 

MAILING LISTS

Whether online or not…NO SPAMMING!  You must get permission to talk to someone.  No permission, stay away.

PRICING

This doesn’t always mean going lower.  As many promoters found over the past several years, the same ticket that wasn’t selling at a P2 price will sell at a P1 price.  At the same time, rewarding fans for purchasing early versus late would help.  By discounting tickets as you get closer to the show, you are training your customers to wait even longer than they already are to buy.  Flip the model.  Why not make tickets more expensive each day?  That would certainly get some attention if nothing else.

LOYALTY PROGRAMS

We haven’t really been able to get this right since the Columbia Records Club, but it doesn’t mean we should stop trying.  Take a look at what Harrah’s has done.  Hell, Amex makes you pay to be in their loyalty program if you think about it….and the same with many artists’ fan clubs.  The key is to know your customers.  What do they see as a value?  If you are doing some of the other things right, you will know.

OVER-DELIVER

Instead of looking for ways to cut your budget this year, search for places to over-deliver for guests at every touch-point possible.  As marketing guru Seth Godin recently wrote, “Radically overdeliver. Turns out that this is a cheap and effective marketing technique”. 

MAKE YOUR MESSAGE TIMELY

Anyone who has followed how automaker Hyundai and its sister Kia have used the economy in their messaging to sell hundreds of thousands of cars in the U.S. will understand this point.  Because Hyundai could move so quickly, they were able to roll-out their “Hyundai Assurance” program.  Perfect messaging that resonated with consumers. 

A PLAN IS NOT A GRID

A grid showing where and when you are buying adverting isn’t a marketing plan.  You must understand that each show is different.  That every act is a brand…so is every venue, promoter, and producer.  Measure your results. See what’s working and what’s not.  Although you do have a plan in place, it doesn’t mean it can’t be amended. 

Keep Trying…

Jim

2 CENTS ON LEFSETZ/CONCERT STUFF

The idea of the last LiveWorks Newsletter https://liveworksnews.wordpress.com/2009/08/03/innovation-wins-every-time/ was to point out how innovators like C3, Goldenvoice/AEG Live, Superfly/Ashley Capps/Coran Capshaw, CAA, William Morris, Madison House…and Kevin Lyman have changed the landscape of the U.S. Concert Business through their festival development…and challenges the rest of us to try to live-up to their example.  So when I first saw a few jumping on Kid Rock’s bandwagon to tear Kevin down (in my mind Rock was the only one who should have been dissing and even he admits that he likes Kevin), my blood pressure started rising fast (those of you who know me have seen that before).  But then…Lefsetz http://lefsetz.com/wordpress/ started posting the flood (only way to describe it) of support for Kevin Lyman.

It was heartwarming to see so many bands, managers, agents, promoters, sponsors, fans…everyone say WE LOVE KEVIN… AND THIS IS WHY vs. ARTHUR FOGEL IS A LIAR (which we still saw too much of).  Here are some facts to chew on…

1) The U2 tour is doing very well whether you like their new album or not.  They are an amazing live band, always do groundbreaking production,  and unless you are in the box office counting the drop every-night, you shouldn’t be commenting on other’s ticket sales (unless you are Bob Lefsetz as he is our business’s commentator and conscious…and the reason we have these dialogues in the first place).

2) A new trend the business is seeing, and adapting to as much as possible is seating preferences.  P1 seats continue to sell in this economy.  So do P3’s and beyond.  P2’s not so much.  What you might see in a stadium concert is a show that is 98% sold-out and still has an empty section that looks like it is down-front. Just because the promoter/building/band wants to fill it in, doesn’t mean the show didn’t make money, and most of the capacity sold.  Maybe I’m totally wrong, but if you don’t know for sure, don’t call someone a liar!

3) Like the Festival Producers listed above,Arthur Fogel has changed our industry.  Bono and Madonna think he is the rock star!  He basically owns the top of the box score artists.  If you are talking shit about
Arthur, you are just jealous or pissed!  Me, I would rather do business with him than not. 

4) In case you haven’t noticed over the past couple of days, The Lefsetz Letter has us all talking.  Managers, agents, promoters, lawyers, business managers, label people, sponsors, fans, even rock stars (although I’m not sure if Madonna knows that Bob actually types on a computer and doesn’t write with a pen…but even she is talking about his fishing tackle).  Ok, so he doesn’t always get the facts perfect…but I don’t think that’s the point.  Bob, like the rest of us wants to see change for the positive.  Sometimes he needs to say things in a certain way to piss people off and get them talking (he never told me that but I’m guessing it is the case). 

With the way the world sits right now, our business should be pulling together instead of knocking each other down.  We should be encouraging Kevin Lyman and those like him to continue to innovate and create new vehicles.  It was awesome the way everyone wrote to Bob to tell “Kevin stories”.  We should all encourage and take part in the fun debate that happens as part of the Lefsetz Letter.  We should do the same for anyone who is trying to make a difference!

Hope you have a great weekend…and sell tickets (instead of giving them away)!

Speak with you soon…

Jim

EYEBALLS…MILLIONS OF THEM

“Eyeballs…Millions of Them”…with a festival stage and crowd shot caught my eye immediately in the pages of BrandWeek.  The ad goes on; “We are the largest producer of music festivals in North America”.  If you haven’t figured it out by now, this is an ad for AEG-Live’s festival division.   Their roster now includes;  All Points West, Bumbershoot, Coachella, Hootenanny, Mile High Music Festival, New Orleans Jazz & Heritage, Rock on the Range, Rockfest, Rothbury, Sunfest, and Stagecoach Country Music Fesitval.  The first time I saw the ad, I didn’t write about it.  But once AEG-Live bought the back cover of the February 2nd issue, I saw they were committed to reaching out for corporate partners.   

One of the 5 topics thrown out for discussion for the first meeting of “The Aspen Dinner Club” will be “Where Will We Get The Money To Develop Music Artists In The Future?”.  Btw, the club is meeting on March 5th @ 7:30 pm in each city.  Thanks to Ron Laffitte, it looks like we have a location for LA, Village Pizzaria on Larchmont in Hancock Park…other cities’ locations TBD.  Fact is, we will need to look to brands as partners more and more.  Live Entertainment needs to transform itself into Branded Live Entertainment.  AEG-Live seems to understand this and is marketing in BrandWeek where their competitors aren’t.  This a a recipe to win.

Brands are looking for new ways to cut through clutter.  Live Entertainment has so many touch-points throughout the on-sale, marketing, show, and after-show process, that corporations will see the light if you can show them the ROI we can generate!  Between the media value, data, media impressions, live impressions, sales-leads, celebrity association, etc, Live has a lot to offer.  We  just have to reach-out to brands as partners rather than just asking for sponsorship money.  Times are tough That’s when the best innovation happens.  That’s when you have to start working outside your comfort zone.  Look, the NBA just lifted its ban on hard liquor sponsors court-side.  What are you doing?

Talk with you soon…

Jim

Make it Easy to Say Yes!

Making it easy for consumers to say yes to buying a ticket during down economic times (and good) comes down to always thinking of the audience first in that packaging process!!!  We must address fan’s concerns about ticket price, ticket surcharges, venues, seating (or no), access to good seats, parking, food and beverage choices and price, employee training, security, long lines (a true enemy for all), talent line-up, marketing, communications, transportation (especially for those underage), under 21-shows, and more.   If we do, we will be “recession proof”.  Everyone is looking for an escape right now. 

We have to start somewhere, so if the live business concentrates on ticket prices first instead of guarantees, we would be moving in right direction.  A ticket price in the “right room” will give you your gross potential that leads back to a guarantee.  And please don’t use that gross potential as an excuse to play rooms that are too big for your show.  Better to underplay the market and leave people wanting more than playing to a half empty room.

Bring the whole community into the process with you (talent, fan, venue, promoter, ticketing agency, media, sponsors, etc).  In sports before the start of a new season, many athletes will have “retreats” with their core team of sponsors, agents, managers, etc.  The idea is for everyone to be pulling in the same direction when the season starts. 

The Live Business needs to look at packaging all of our assets together to make it easy for fans to say yes.  We will certainly be having one of the “retreats” I mentioned above at the Aspen Live Conference December 11-13, but encourage all of you to find ways to get together on your own if you can’t make Aspen.

Talk to you soon…

Jim