MR FAN; yes or no?

In this strong and competitive industry of creative arts; probably the most important factor which will determine our success or failure is our fan base. Fan approval and valuable fan response could be that one key we need to unlock our success and stardom. Fan approval and response was discussed in my CIU class and in this blog I will explain the importance of them both.

Fan approval is basically giving a few selection of your fans a pre-version to your product such as a demo to a game, an EP to an album, etc and then asking for their approval whether if they feel like the product is up to the mark or not. The next step in this process is to get fan response; which is basically to get fans to give suggestions on what they liked, what they did not like and what they would want more of. This is extremely beneficial for the company as they can now improve their product as per the fans response because customer satisfaction is the primary goal.

Furthermore, because of this a firm tends to develop a stronger fan base due to their good consumer relationship. Asking for fan approval and response is beneficial for the fans too as they feel more involved in the process of the making of the final product, thus increasing the chances of them, not only purchasing but also promoting your product.

Obviously with a stronger fan base a company can get better response. In order to create stronger fan base a company can always have several giveaways and promotions but as stated by Anne DiVitto, “To give yourself the best chance of tripling your fan base, through fan recommendations,” (DiVitto , 2016), fan response is the key to growth. Fan approval and response is often ignored and taking for granted over market research and past sales but these small techniques can make big differences.

 

Reference list

DiVitto,. (2016). 7 Actions That Will Triple Your Facebook Fan Base – Marketing And Growth Hacking. Marketing And Growth Hacking. Retrieved 10 April 2017, from https://blog.markgrowth.com/7-actions-that-will-triple-your-facebook-fan-base-89e2ff4476b6

 

Make your data up to date

Data, data, data; we all want to learn, research and acquire as much data and information as we can about our industry, our market, our competitors and our target audience. In my critical thinking in creative media class of week 6; data was the head topic and in this blog I will go over how one can collect data and how must it be used.

As said in one of my previous blogs; data can be collected via primary or secondary research. Secondary research is using research already previously conducted by someone else. Primary research requires one to go out and conduct the research via surveys, sampling (random and quota), asking to focus groups, conducting interviews and many more. One of the most effective ways to collect data is through a questionnaire/survey, as they all firstly, extremely cost efficient and often online questionnaires cost nothing. Second of all, they are easy to calculate results from thus making them a speedy process and lastly, you can get high number of responses, “Questionnaires and surveys allow you to gather information from a large audience,” (Debios, 2016). 

Another great cost effective way of collecting data is throughout conducting focus groups and another than being quick and cheap, focus groups enable you to alter questions as per the situation. “Instead of focusing on a scripted response, focus groups are able to ad-lib questions within the moment to create more detailed information,” (Gaille, 2015). On the other hand, focus groups have a few disadvantages as the most outspoken of the group will dominate and control the discussion thus losing track. Furthermore, “participants are self-selected and study results are therefore harder to generalize to the larger population,” (Savithiri, & Leung, 2009), due to these few drawbacks; focus grouse even though beneficial, but are not the best data collection methods.

After the data is collected, it is used to find new and innovative ways to better your product and to attract new consumers in and out of your target audience. “Use Data and Market Research to Get Closer to Your Customer,” (Landrigan, 2005).

Reference List

Debois, S. (2016). 9 Advantages and Disadvantages of Questionnaires – Survey Anyplace. Survey Anyplace. Retrieved 6 April 2017, from https://surveyanyplace.com/questionnaire-pros-and-cons/

Gaille, B. (2015). 12 Pros and Cons of Focus Groups – BrandonGaille.com. BrandonGaille.com. Retrieved 4 April 2017, from http://brandongaille.com/12-pros-and-cons-of-focus-groups/

Landrigan,. (2005). Consumer Insight: How to Use Data and Market Research to Get Closer to Your Customer: Journal of Consumer Marketing: Vol 22, No 6. Emeraldinsight.com. Retrieved 7 April 2017, from http://www.emeraldinsight.com/doi/abs/10.1108/07363760510623948

Savithiri, R., & Leung, F. (2009). Spotlight on focus groups. PubMed Central (PMC). Retrieved 4 April 2017, from https://www.ncbi.nlm.nih.gov/pmc/articles/PMC2642503/#

Crowd’fun’ding not so fun? (CIU 111.3 Blog 3)

Crowd. Funding. Crowd. Funding. Crowd. Funding. Does it need to be explained? As its name suggests; crowd funding is a way to raise revenue by allowing a large crowd to fund for you in small amounts per person. Crowd funding is commonly used by innovators, musicians, writers, filmmakers and many others in the creative arts field. This broad topic was discussed and debated upon in our week 10 CIU class and in my todays blog I shall briefly explain when is it most commonly used, how crowd funding works and if its beneficial or not.

Crowd funding is a method of raising finance, almost always used for a new venture or an up coming project, by allowing large amounts of public to share few amounts of capital; overall a large, large amount is often collected. This process is an online process where there are websites which work as mediums to help you post your promotion and allow people to invest in your upcoming product or service. “There are numerous donation crowd funding platforms where entrepreneurs can safely ask for capital such as Kickstarter, Indiegogo, RocketHub,” (Prive, 2012).

The biggest advantage of crowd funding for an artist is the funds that they have collected but crowd funding has many more advantages, such as said by the employees of The CrowdFunding Formula, “The crowd funding community is also very vocal. They’ll tell you what they like about your product and share their ideas for improving it,” (The CrowdFunding Formula, 2016). A major, major drawback for crowd funding is the all or nothing formula, “Most crowd funding platforms use the “all or nothing” model, which means even if you are a dollar short of your target you will end up with nothing,” (Jenson, 2014), an amount as small as a dollar can cause this operation to fail and have the artist left with nothing plus have lost a lot of time, effort and reputation. Furthermore the value of time is not appreciated as, “If a business owner needs a lot of money quickly, he may not be able to wait for the idea to catch fire on a crowdfunding site,” (Arora, 2012). Despite its few advantages, I believe crowd funding is not a fun process as it has high levels of risks; but if calculated and used correctly, you could receive high returns.

Reference List

Arora, R. (2012). 7 Reasons to Avoid Crowdfunding. Fox Business. Retrieved 5 April 2017, from http://www.foxbusiness.com/features/2012/10/23/7-reasons-to-avoid-crowdfunding.html

Jensen, T. (2014). The Disadvantages of Crowdfunding. The Startup Garage. Retrieved 4 April 2017, from https://thestartupgarage.com/disadvantages-crowdfunding/

Prive, T. (2012). Forbes Welcome. Forbes.com. Retrieved 7 April 2017, from https://www.forbes.com/sites/tanyaprive/2012/11/27/what-is-crowdfunding-and-how-does-it-benefit-the-economy/#7a6a135cbe63/

The Crowdfunding Formula,. (2016). 10 BIG Benefits of Crowdfunding. The Crowdfunding Formula. Retrieved 5 April 2017, from https://thecrowdfundingformula.com/2015/11/26/benefits-of-crowdfunding

Online presence is on the line? (CIU 111.3 Blog 2)

Everything is online; shopping, exams, assignments, meetings, interviews, games, films, music and in the midst of this 24/7 online ‘bonanza’, not having an online presence just does not feel right. Greetings fellow readers, in my second blog regarding my CIU class; I will go over a topic we had discussed thoroughly over the first few weeks of my trimester 2. Social media and online presence is a vast and cage topic with plethora of topics to talk about but for today I shall discuss and evaluate how important is social media presence.

The world wide web in essence is a huge platform for anyone and everyone to share, showcase and sell their work or craft; this being said, usually different fiefs have different sub platforms in which they would advertise their work. Having a social media platform to showcase your work whether it be sound cloud, youtube, instagram, Facebook, twitter, etc, they all have their benefits. The first and most important advantage is its 24 hour accessibility, “An online site can be visited any time of the day or night,” (Dogulin, 2013). Another advent of creating an online presence is that it is not at all expensive, “You can begin your website as a side operation which involves only minimal risks as the cost is low” (Chung, 2014) as said by Mr Edward. Lastly, social media allows you to reach people from all over the world; allows you to showcase your talent to everyone thus helping you in attracting the right person to you.

On the other hand, having your company’s or your own contact details online can be troublesome, ‘With a contact form or your e-mail address published on your website, you’ll soon find your inbox filling up with spam e-mails,’ (Adrian, 2010). I feel its safe to say that a few promotion and spam emails are a small price to pay for the huge benefits that having a (often) free location to share your work and allowing you to reach your target audience bring to you.

Reference list

Adrian,. (2010). Advantages and Disadvantages of Websites For Business. The Company Warehouse. Retrieved 6 April 2017, from https://www.thecompanywarehouse.co.uk/blog/advantages-and-disadvantages-of-websites-for-business

Chung, E. (2014) 10 benefits to build your own Website for your career development. Available at: https://edward-designer.com/web/build-website-for-career-development/ (Accessed: 2017).

Dogulin, N. (2013) 13 advantages of having a Website for your business. Available at: https://www.dogulindigital.com.au/advantages-benefits-website-for-business/ (Accessed: 2017).

Market Research (CIU 111.3 Blog 1) 

Market research is a topic which is often thought to be only interpreted as a tool used by official white collar firms in order to satisfy their consumers but just like any other; your products are a part of your company regardless of what field you may be in. In this blog, I will go over a topic that has been taught to us at SAE (School of Audio Engineering) in our creative media and critical thinking class; market research, I will briefly explain the two main types of market research and if it might benefit me.

During a market research a company or an individual studies, analyses and compares the market and consumer behaviour in order to find out consumer spending patterns, main target demographic and consumer wants. The quantitative and qualitative data collected from this research is then used to make the products or services better. An article by Ash Christopher explains what data is essential to find from a market research, “Gather statistical information regarding your target market’s demographics, market segment, needs and buying decisions,” (Christopher, 2012). 

Market research can be divided into two sections; primary research and secondary research. Primary research; also knows as first hand or field research; has an individual or a team go out to collect data, while on the other hand, secondary research is when information from a previously done research is used for product betterment. Market research has several benefits even for a musician; as said on TheBalance webpage, “Detailed data can help you in lowering risk. It shows you where the opportunities that will produce results are and keeps you focused,” (Lake, 2016). Market research also helps you identify and create opportunities for yourself as you already know what your consumers desire. While on the other hand, a few disadvantages given by Mr Gaurav Akrani in an article are, “It is also lengthy and time-consuming,” plus, “it has a limited scope,” and, “it has a limited practical value”, (Akrani, 2013).

Market research like any topic has its pros and cons but I believe it is an integral part of growth as there is nothing better than knowing what your audience demands from you.

Reference List

Akrani, G. (2013). Limitations of Marketing Research – Demerits of MR. Kalyan-city.blogspot.ae. Retrieved 2 April 2017, from http://kalyan-city.blogspot.ae/2013/01/what-are-limitations-of-marketing.html

Christopher, A. (2012). 5 types of data you should gather when doing market research. Blog. Retrieved 1 April 2017, from https://blog.waveapps.com/small-business-market-research/

Lake, L. (2016). Why Marketing Research is Important to Your Business. The Balance. Retrieved 1 April 2017, from https://www.thebalance.com/why-marketing-research-is-important-to-your-business-2296119