How to Invest Money to Make More Sales as a Producer
March 16, 2020
Being a producer isn’t about just making beats. The art of composing a unique sound that inspires other artists to create chart-topping hits is what producers should aim for. No doubt that this process takes a lot of time and energy, and can feel frustrating if you need more cash flow now.
Here are a few ways you can invest your coin to make more money off your beats:
While your studio doesn’t have to be stocked with state of the art equipment, investing in an upgrade will inspire artists and musicians to book time. When they sign up, you can offer your beats in a bundled deal or at a discount to generate more income. This has the added benefit of getting more artists to consider using your beats.
As a producer you likely understand music theory, writing measures, timing, and tuning instruments. Offering private lessons to teach students the art of fine-tuning their craft to enhance their music can also boost your cash flow when you need it.
There is an abundance of savings apps available to download, along with options available at most banks to save money and invest it. Many of these options round up the change from purchases made off of a debit card to the nearest dollar. The change is placed into an investment portfolio where the funds can grow.
It takes a set it and forget it mentality for this kind of scenario to work. As the investor, you can withdraw the interest or dividend income made to pay for miscellaneous expenses to further your career. However, it may take a long time until this generates any significant income if your starting balance is not high.
Sometimes it’s better to invest time into giving back versus investing dollars. Volunteering to teach a music class or an after-school program can benefit the community you’re serving while promoting your expertise without having to pay for an ad campaign. Attendees, and perhaps people in their circle, can see what you’re capable of which can, in turn, lead to sales.
Social Media Marketing
There’s no better investment strategy than to invest in yourself. By putting together a cohesive social media marketing campaign to grow a following, your target audience, and fan base increases.
Whether you’re teaching clients the art of tuning instruments or upselling musicians into booking more studio time, investing in alternating means of income gives you the freedom to create beats and increase sales.