THE VALUE OF CONTENT...

Feb 20, 2008 - 12:38 PM PST

So, what is the value of your content? Is it $ .99, as Apple would have you believe, $1.99 or more? The bigger question is, “In today’s digital world, does your content have any value at all?”

The announcement of Radiohead’s decision to let consumers pay whatever price they want for the band’s upcoming release, In Rainbows, sent the music execs spinning again. Obviously, the band’s choice to walk away from a major label and decline to make their new album available on the two biggest online retailers sends a message. Given this scenario, what is content worth? And more importantly, how will independent artists survive when major acts with large fan bases give their music away for free?

Fear not, content will always have value! However, in the ever-changing world in which we create, learning to maximize, or leverage, the value of your content will be the key to success for independent artists like you and me. The secret is to think above and beyond $ .99 downloads and the sale of physical CDs.

Here are two methods for promoting your content that are guaranteed to increase its value. With local independent retailers looking to survive against the big conglomerates, the combination of a good webmaster and a few phone calls can help you tap into these opportunities.

Bundling: For years, marketers have offered two or more products for a single price. Through bundling, consumers perceive greater value, pay once, and everyone makes more money than if each product was sold independently. In the digital world, online tickets bundled with video and music could make for an attractive offer.

Giveaways: Approach a local independent retail store about giving away coupons good for a download of your content. With giveaways, the store can either pay you a license fee up front, or compensate you for each piece of content downloaded from either your website or the retailer’s. You could even agree on a combination of license fee and pay-per-download.

The debate about the value of content will continue to rage on. As an independent artist, don’t wait for someone else to tell you how much your content is worth. Take advantage of the unlimited number of opportunities to increase the value of your content, grab hold of your destiny and have fun doing it!

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