The Coupon Game
Friday, October 17, 2008 at 12:01AM I've been spewing my marketing ideas all week. I guess it's because I've become basically obsessed with finance and the stock market since the "Big Crash of October 2008."
Glam save me, I'm addicted to CNBC. I'm also addicted to trading. I love buying things on sale. The way I see it, stocks are on sale - and I might as well stock up.
What does this have to do with Glam?
Well, the best way to find strong stocks in this market is to go commodities and industries that are recession proof. The best way to sell basic commodities is to reduce cost - and offer incentives.
What if bands offered coupons to fans to redeem for music?
Let's say you belong to the fan club of band X. Band X wants to release a new album. They also want to tour. To entice fans, they send a coupon for a free download. Now, this download doesn't have to be on iTunes. It can be hosted on a special website. Fans can unlock their download via a special code. The free song just might be enough to whet a fans appetite - to actually pay for new music.
Now I know this has been done before, but the practice isn't widespread - especially among less famous bands. I don't really see a band losing a lot of money on this and the promotion itself is quite cheap. Considering most fan clubs are pay to join anyway, the band can use the free song as one of the "reasons to join." Moreover, the song codes would be deployed via email - and that means a massive marketing database for the bands to use for all future promotions.
The idea isn't revolutionary - but I think it would help. Hell, if it curbs illegal downloading by 1% - it helps. I only wonder why I don't get more free songs from bands.
Reader Comments (1)
but seriously it seems like a pretty good idea but i won't join a fan club that costs money. not gonna do it ever.