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3:44 am
October 20, 2011
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QuoteHey everyone,
Apologies for going crazy on the forum in the last 24 hours....can you tell I'm getting ready for a launch?!
Would love feedback on my LTO plan. For the last two releases (within the last 12 months), because my price points were so low, I offered free bonus tracks instead of a price cut. Now I am out of bonus tracks AND i'd like to try the price cut and see what kind of reaction/metrics I get. I'm also simplifying things and not offering merch (tshirt and hoodies as I am on the road and I only have a few left.)
Last release I tried some big ticket items: House Concert (local)$500, House Concert (anywhere)$1000 and The Whole Shebang (a bunch of music, a skype video call, hoodie, tshirt, etc) for $99. I did not have any takers for these items, though I did during my Kickstarter campaign.
If you have time and thoughts - what do you think about this for my LTO for the release (it's an EP with 5 songs, called "It Matters to Me"):
$3.99 Digital Download (Usually $4.99!)
$5.99 Signed Physical Copy (usually $7.99!)
$24.95 "Super Fan Me" Pack - 5 Signed EP's for $4.99 each! (usually $39.95!)
$17.99 "You Matter to Me" (or "I Matter to You" or a clever-er name?) Digital Bucket O Stuff (3 EP's: It Matters to Me, Oh!, Talk To Me; 1 Album: No Will Power)(usually $25!)
$29.99 "You Matter to Me" Physical Bucket O Stuff (3 EP's: It Matters to Me, Oh!, Talk To Me; 1 Album: No Will Power; magnet) (usually $40!)
Are these appealing? Does it make you think you HAVE to get it? and get it now?
What have you done to make your LTO's awesome?!
Re: OTO - With this, i don't have anything left for the OTO - maybe a ringtone if i can figure out how to make them?! that's a pretty pathetic OTO though! Another idea would be to offer the hoodies as an OTO but I only have about 7 of them left and not in all sizes.
Lastly, re: 72 hour vs. 7 days. I was planning to do a 7 day LTO for this one. I did a 7 day LTO one year ago for the first EP and a 72 hour LTO for the second EP in early October. I had approximately the same number of unique customers during both LTO's, but I made approx 30% more money during the 7 day LTO because individual customers bought multiple orders and bigger pkgs (Tshirt & Ep were 40% of the orders; compared to 15% bought hoodie & EP(also a $15 higher price point) in 2nd launch). This may be attributable to the first launch being the first release I'd had for a long time and the second release was only 6 months after the first launch. Anyway, I share these metrics in hopes that it's useful to someone else and also to get any advice re: making this a 7 day LTO vs. 72 hour LTO.
Ok, phew! If you made it this far, thanks for hanging with me and I'd love your advice!
Kat
3:48 am
October 20, 2011
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Some other ideas for OTO's, but I think they would only appeal to a very few people: Karaoke versions of songs and/or a piano/vocal songbook
or maybe i could just try to sell the few remaining hoodies i have on hand?
11:39 pm
June 7, 2011
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I think that all sounds fine. The only real goal is to make each deal sound better and better. In other words, the more you spend the more you save.
BUT, as I look at this, it does make me think about a couple things I've been chewing on for a while. Right now the trend is to do a Kickstarter style list of products and packages. That may in fact be the way to go. But I think for my next release I am going to focus on a much simpler strategy. I think i will be driving everyone to a $5 or $10 album and then a single membership site bucket offer as the upsell. I personally like keeping the things a person has to think about a lot simpler. I might then create a customer follow up that was designed to try and close the same upsell offer for those that passed on it. I'd then plan to follow up with a house concert offer a bit later. I honestly don't know which will make more money. It may very well be the Kickstarter style list of options. But there is something about how much more scattered it makes the selling that I don't like. It'd be interesting to test for sure. Just food for thought.
Having trouble with your marketing? Wish you could have an experienced direct-to-fan marketing expert look over your actual campaigns, music, or content and offer feedback? Or perhaps you’re just looking for a little one-on-one assistance so you can ask questions that pertain to your specific goals and get a second, more experienced, perspective? Click here to book a session with me now.
11:43 pm
October 20, 2011
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awesome- thanks for looking at this!
love your idea of just one offer- i think that is very appealing and would get good results. i did kickstarter style offers on my last two and didn't get any takers on the high priced ones, but did sell a nice percentage of Superfan packs (5 physical copies of same EP for cheaper price) and Hoodie/EP & Tshirt/EP packages.
maybe i can make the launch LTO this:
1. $3.99 Digital Download (Usually $4.99!)
2. $5.99 Signed Physical Copy (usually $7.99!)
3. $24.95 "Super Fan Me" Pack – 5 Signed EP's for $4.99 each! (usually $39.95!)
and then the OTO for 1. would be :
$17.99 "You Matter to Me" (or "I Matter to You" or a clever-er name?) Digital Bucket O Stuff (3 EP's: It Matters to Me, Oh!, Talk To Me; 1 Album: No Will Power)(usually $25!)
and the OTO for 2& 3 would be:
$29.99 "You Matter to Me" Physical Bucket O Stuff (3 EP's: It Matters to Me, Oh!, Talk To Me; 1 Album: No Will Power; magnet) (usually $40!)
I also have a few hoodies and tshirts left, but i'm thinking i might leave them out of this release. what do you think about all of this? thanks john!
11:09 pm
June 7, 2011
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That all sounds fine but if it was me I would probably just do a single OTO and I would offer physical and digital in that package. So people will get some cool stuff in the mail, but they will also get the files immediately so they don't have to wait. Costs you nothing, justifies a higher price point, and sounds like a lot more stuff. I don't think there is much of a resistance difference between $17 and $29 so I'd just go with the bigger of the two. I bet your conversions are exactly the same.
My only concern for you with this offering is that as far as I know your list hasn't grown dramatically since the last release which means that many of your customers will already have part of your upsell which may make them pass. If at all possible I'd try to come up with something a little more unique.
I'm really not sure if I think this simplified approach or the big list of options is the way to go for maximum income. I'll be doing the simplified approach myself, but without testing I'm really not sure. Just wanted to fly that caution flag.
Having trouble with your marketing? Wish you could have an experienced direct-to-fan marketing expert look over your actual campaigns, music, or content and offer feedback? Or perhaps you’re just looking for a little one-on-one assistance so you can ask questions that pertain to your specific goals and get a second, more experienced, perspective? Click here to book a session with me now.
11:42 pm
October 20, 2011
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that's a cool idea re: one OTO for everyone. it would also make my head spin a little less from the redirects! 
the only thing i'm thinking is that the digital customer might not want physical cds and thus wouldn't buy the more expensive product b/c they don't want the actual physical cds. thoughts?
and yeah, i hear you re: a more unique upsell that will apply to people who already have some of the other material....i'm kind of out of products, bonus songs and ideas between kickstarter and the first two releases....i'll keep putting me head to it!
ps. just found out from dean about aweber's partnership with paypal!! so awesome!!!
11:47 pm
October 20, 2011
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was just thinking more- when you say unique are you thinking something like "I'll call you for your birthday" or a "personal skype video concert" or something like that?
1:13 am
June 7, 2011
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As far as physical vs digital, my thinking is that the price isn't going to be the issue, the content is. if you offer both everyone will be presumably happy and because of the volume of stuff no one should have an issue with the price.
Re: unique... I was thinking more along the lines of b-sides, videos, online concert tickets, etc. I will personally be creating an online membership site for my upsell on the next album. I will fill it with old demos, concert footage, and add some interactive elements like occasional online concerts and chats, and then charge annually. Anything digital and cool.
To my mind I would save the "phone call on your birthday" type of stuff for a kickstarter style option list.. But there is no real wrong way to go here. Its whatever makes sense for you and your style.
Having trouble with your marketing? Wish you could have an experienced direct-to-fan marketing expert look over your actual campaigns, music, or content and offer feedback? Or perhaps you’re just looking for a little one-on-one assistance so you can ask questions that pertain to your specific goals and get a second, more experienced, perspective? Click here to book a session with me now.
4:48 am
October 20, 2011
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5:23 pm
June 9, 2011
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Hi Kat,
One thing I've been considering... and I've seen others offer stuff like this on their Kickstarter campaigns, is if you have taken any exstensive video footage of you in the studio, along with reality-tv-style interviews about the process of making the EP and offering that as a bonus.
It might be the kind of thing that helps sure up your relationship bond with your customers and gives them an inside look at the process behind what they are listening to. Something like that may help you overcome not having any other music to give away as a bonus and it could help you get a sale from folks who already have all of your other stuff.
One thing that worked well for me previously was that I gave people a discount on my full-length, but also threw in an unreleased full-length live album for people in my last promo. So it was buy one get one free at a discount. Wasn't a big deal to me because the live recording wasn't high quality. It was pretty raw actually, but definitely a cool bonus for folks.
One difference that I'll note is that I was donating all of the proceeds to charity and I told people that, but they actually had to buy the music. We did quite well with that promo too.
Hope that helps spark an idea or two.
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