Big Data applied to the music industry has brought with it a much wider knowledge about the artists and their audience.
Knowing who they are, where they live and what social media followers of a certain use is excellent information in order to invest in advert campaigns when it comes to advertising our concerts and festivals.
The adverts will be managed better and that, in the end, means a higher profitability for our events. In this article we show you how Big Data technology helps you to more effectively approach online advertising.
The successful advertising of a concert depends mainly on 2 factors:
- Finding the potential audience for your event.
- That, once we find it, our communication entices them.
Point number 2 depends on your corporate personality. We have left a post to improve this aspect: What is corporate communication?
In this article we will cover point number one. Almost all the Big Data information necessary to make a correct promotion will not be accessible unless you are the artist yourself or you contract the services of Drop.Show.
1. Find out on which platforms advertising will be more profitable
Thanks to Big Data we are able to know the evolution that an artist has in each of his social platforms and in which he is having the highest Hype (learn the differences between Hype and Engage). So we can invest more money in those platforms in order to carry out your promotional campaigns, since they will be more profitable.
Mainly your advertising doubts will be in investing money in Facebook, Instagram, YouTube or Spotify (yes, Spotify has its own advertising machine, but they are expensive campaigns and it is usually profitable if you are the artist’s representative, as it is largely to publish that you are represented).
We should look at:
- Total numbers of artist followers on each platform.
- Growth presented by the artist on each platform.
Then you can allocate a larger budget to the one that gives us the best statistics based on these two values. If your event is still a long way off, take growth more into account. If it’s not far off, consider the artist’s total number of followers on each platform.
2. Demographic segmentation
With the data that Drop.Show provides, you can know the sex, age, engagement and ethnicity of the artist’s followers on Instagram. This will make it more likely that, by targeting these criteria in the advertising tools of these platforms, you will reach the target audience of your artist or event.
Remember that digital platforms charge using a bidding system, that is, the more people interested in your event you reach with your advertising, the more profitable this investment will be, in addition to selling more tickets.
3. Multiple ads to maximize profitability
Schedule multiple ads on each platform and stick with the ones that work best. This is very important. Although you will not be an expert at first, as soon as you accumulate a little experience, each time you place an ad, put 4 or 5 similar but with different segmentation criteria: vary ages, tastes, places, etc. Allow 2 or 3 days to pass with a low cost and, when you see which one works best (the click / action is cheaper), eliminate the others, leave only one active and increase the cost to your liking. This is an essential practice. The mentality that you must acquire is “there is a perfect segmentation combination to reach people with who are really interested in buying my ticket.” With this rule, the more ads you put to the test before you get the ultimate one to invest the most money in, the more likely you are to find this combination successful.
To announce individual artists.
Depending on the magnitude of your event, this may be attractive for cities adjacent to yours. In this case, use the Drop.Show reports to find out in which cities your artist has the most listeners and followers.
Also use the presence (Spotify listeners of the artist in a city / total Spotify listeners in the city). If a city is small but your artist has 4,000 listeners per month out of 5,000 total, for example, it means that your artist is very present in the social ecosystem of this city. Even if this is not your city, its audience may well be willing to travel to see that artist. When you test out these ads, also look at how many tickets are being sold from that location to know if your advertising is being effective in terms of sales.
To announce the poster of a festival
Use the location of the listeners and followers of the artists in each city to make the total sum of each type of data among all the listeners in your city and the rest, from which you calculate that people may come (use audience figures from past editions if you can). With this, you will know where Spotify listeners and total Instagram followers of your festival’s poster artists are located most, and you will know where to advertise more effectively. It is very possible that you locate small cities where the hired artists have great influence, so that the investment in advertising in those places is going to be more profitable. Remember that you can know the location of listeners on Spotify and Instagram followers of all the artists in the world on Drop.Show.
5. Other channels.
In addition to all the actions based on digital advertising mentioned above, this information is very important for the other types of advertising for your event:
Based on age, sex and location of your artists’ followers. Choose the most convenient means to broadcast the ad spots and focus on getting interviews.
If your audience is in more than one city, use this information to make a consistent distribution of your event signage.
We will often buy mailing campaigns from communication companies. Find out about the target audience of each offer you are considering and choose wisely.
If you are going to have a public relations team, do it in the cities where the artists on your poster have more influence.
And these are your 5 tips to make your online advertising more profitable. Remember that this act is part of a more global strategy that will be covered in your music marketing plan to leave nothing to fate.