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How to succeed in selling merchandise

Artists within the music industry have seen revenue streams change dramatically in recent years. The rapid decline in music sales as a result of widespread streaming mean artists have been forced to source revenue from other avenues. Selling merchandise can be a lucrative activity, but only if conducted in a strategic manner. It is not only a useful revenue stream but it can be beneficial in creating brand awareness and creating a stronger relationship with your fans. According to the Future of Music Organization, “the best merch builds buzz along with brand recognition while shoring up additional revenue”. In this article, we will explain what you need to take into account to make your merchandise a success. Understanding your audience As with any communication or marketing effort, it is essential to understand your audience and what they want. Your first activity when developing your merchandise will be research. Engage with fans; create some polls on social sites to see what merchandise items are popular. It may be worthwhile checking out other artists’ merchandise offerings and their price points. Use analytical tools to gather information that can help inform your choices. Initially, you may choose to play it safe and produce tried and tested items such as flags, t-shirts and hats etc. but don’t let this restrict you. The larger your […]

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