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Lexipedia

Music Industry R&D A - Z: Marketing every freelancer should test

-A-

1  Addressability-

a measure of how easy it is to get in touch with people who might want what you're offering.

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6  Adoption of innovation-

a behavioral characteristic that examines the tendencies by which customers adopt a product as it moves through its life cycle. People can be characterized as innovators, early adapters, one of the early majority, one of the late majority, or laggards.

2,3,6 AIDA-

the foundation for content generation which encourages contacts to engage with the brand while they are on their way from making a decision to acting on that choice. The acronym (with keyword intent in parenthesis) stands for Attention (information), Interest (navigation), Desire (commercial investigation), Action (transaction).

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1 Alternatives-

as you develop your offering, you can't avoid making choices between competing alternatives. Considering the customer's perspective results in better choices. Presenting an attractive offer means understanding the alternatives your customers face upon purchase. 

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1 Attention-

modern life is overloaded with demand on your attention. Everyone has too many things to do, and too little time to do them all. Maximize your effort's chances of capturing attention with a headline or hook to promote it.​

-B-

6,7 Brand-

a company, product or service. According to the American Marketing Association (AMA), a brand is a "name, term, sign, symbol, or design, or a combination of them, intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competition." Many practicing managers refer to a brand as more than that- as something that has actually created a certain amount of awareness, reputation, and prominence in the marketplace. 

 

  • The brand resonance model lists a series of steps for building a strong brand: (1) establishing the proper brand identity, (2) creating the appropriate brand meaning, (3) eliciting the right brand responses, and (4) forging appropriate brand relationships with customers. 

    • Achieving these four steps, in turn, means establishing six brand building blocks: brand salience, brand performance, brand imagery, brand judgments, brand feelings, and brand resonance.​

  • Brand association: a relationship that one company instigates with another to strengthen its public image. Must be seen as desirable, deliverable, and differentiating.

  • Brand attitude: the overall posturing a company chooses to project to its public.

  • Brand building: managing a brand involves the careful development and implementation of creative brand strategies. Three models are helpful in aiding such planning:

    • Brand positioning model: describes how to establish competitive advantages in the minds of customers in the marketplace;

    • Brand resonance model: describes how to take these competitive advantages and create intense, active loyalty relationships with customers for brands; and 

    • Brand value chain model: describes how to trace the value creation process to better understand the financial impact of marketing expenditures and investments to create loyal customers and strong brands.

  • Brand elements: different components of a brand that identify and differentiate it such as a name, logo, symbol, package design, or other characteristic. 6 criteria: memorable, meaningful, likable, transferable, adaptable, and able to be protected.

  • Brand feelings: are customers' emotional responses and reactions to the brand. It is not enough for a brand to be just respected. It must transcend to become a name or symbol that emotionally binds a company with the desires and aspirations of its customers.

    • Transformational advertising: advertising designed to change consumers' perceptions of the actual usage experience with the product.​

    • 6 important types of brand-building feelings: 1. warmth, 2. fun, 3. excitement, 4. security, 5. social approval, and 6. self-respect. The first three types of feelings are experiential and immediate, increasing in level of intensity; the latter three types of feelings are private and enduring, increasing in level of gravity.

  • Brand identity: the name, logo, slogans, associations, and behavior a company uses to ensure that the right image forms in the mind of fans.

  • Brand imagery: refers to the more intangible aspects of the brand, such as: 1. user profiles, 2. purchase and usage situations, 3. personality and values, and 4. history, heritage, and experiences.

  • Brand judgments: customers' personal opinion about and evaluations of the brand, which consumers form by putting together all the different brand performance and imagery associations. 4 types are particularly important: judgments about quality, credibility, consideration, and superiority.

    • Brand credibility:​ describes the extent to which customers see the brand as credible in terms of three dimensions: perceived expertise, trustworthiness, and likability.

  • Brand knowledge: two components:

    • Brand awareness: related to the strength of the brand node or trace in memory, which we can measure as the consumer's ability to identify the brand under different conditions.

      • Brand recognition: consumers' ability to confirm prior exposure to the brand when given the brand as a cue.​

      • Brand recall: consumers' ability to retrieve brand from memory when given the product category, the needs fulfilled by the category, or a purchase or usage situation as a cue.

    • Brand image: the perception that is formed in the customer's mind about a product/service/company.

      • Brand attributes: are those descriptive features that characterize a product or service.​

      • Brand benefits: the personal value and meaning that consumers attach to the product or service attributes.

  • Brand logo: a design (composed of graphics, words, and/or letters) that conveys a company's brand name and character in the marketplace. 

  • Brand-mark: a company logo composed of only a graphic (i.e., no words or letters). 

  • Brand mantra: a short, three to five word phrase that captures the irrefutable essence or spirit of the brand positioning. Similar to brand essence or core brand promise. Strong brand mantras are structured with three terms, as follows: emotional modifier, descriptive modifier, brand function. The emotional modifier provides a qualifier- how exactly does the brand provide benefits and in what ways? The descriptive modifier further clarifies the nature of the brand. The brand functions term describes the nature of the product or service or the type of experiences or benefits the brand provides. 

  • Brand name: the label given to a company or product/service to help create a strong and memorable image in the minds of fans. Brand names that are simple and easy to pronounce or spell, familiar and meaningful, and different, distinctive, and unusual improve brand awareness.

  • Brand performance: describes how well the product or service meets customers' more functional needs. Five important types of attributes often underlie brand performance: 1. Primary ingredients and supplementary features, 2. product reliability, durability, and serviceability, 3. service effectiveness, efficiency, and empathy, 4. style and design, plus 5. price.

  • Brand personality (or character): the attitude, look, and vibe of a company.

  • Brand resonance: describes the nature of the ultimate relationship and level of identification that the customer has with the brand. Characterized in terms of intensity as well as activity.

    • Intensity: ​the depth of the psychological bond that customers have with the brand (strength of the attitudinal attachment and sense of community).

    • Activity: engendered by loyalty (repeat purchase rates and the extent to which customers seek out brand information, events, and other loyal customers).

    • We can break down these two dimensions of brand resonance into four categories: 1. behavioral loyalty, 2. attitudinal attachment, 3. sense of community, and 4. active engagement.​​

      • We can gauge behavioral loyalty in terms of repeat purchases and the amount or share of category volume attributed to the brand, that is, the "share of category requirements," or how often and how much.​

      • Resonance requires a strong personal attachment beyond having a positive attitude to viewing the brand as something special in a broader context.

      • Conveying a sense of community provides a broader meaning for the brand.

      • Perhaps the strongest affirmation of brand loyalty occurs when customers are engaged, or willing to invest time, energy, money, or other resources in the brand beyond those expended during purchase or consumption of the brand.

  • Brand structure (a.k.a. brand architecture): the manner in which a company brand and a company product brand relate to each other. There are three possibilities, company dominant, company endorsed, and company silent.

    • Company dominant (or combined) brand structure: a type of product brand architecture in which the identity of the company supports the overall image of all of its products and services.​

    • Company endorsed brand structure: a type of brand architecture in which the company uses its identity to support the image of products and services outside the realm of its usual line of products and services. 

    • Company silent (or separated) brand structure:  a type of brand architecture in which the identity of the company is separated from the various products and services it provides so that the image of one product/service can't affect the image of another product/service.​

  • Brand value chain: a structured approach to assessing the sources and outcomes of brand equity and the manner by which marketing activities create brand value.

    • Consistent with the brand resonance model, it assumes that the value of a brand ultimately resides with customers. Based on this insight, the model next assumes that the brand value creation process begins when the firm invests in a marketing program targeting actual or potential customers (stage 1).​

    • The associated marketing activity then affects the customer mind-set, what customers know and feel about the brand, as reflected by the brand resonance model (stage 2). 

    • This mind-set, across a broad group of customers, produces the brand's performance in the marketplace: how much and when customers purchase, the price that they pay, etc. (stage 3). 

    • The investment community considers this market performance, and other factors such as replacement cost and purchase price in acquisitions, to arrive at an assessment of shareholder value in general and a value of the brand in particular (stage 4).

    • Three sets of multipliers moderate the transfer between the marketing program and the three value stages: program quality, marketplace conditions multiplier, and investor sentiment.

  • Customer based brand equity: the differential effect that brand knowledge has on consumer response to the marketing of that brand. Approaches brand equity from the perspective of the consumer. The power of a brand lies in what customers have learned, felt, seen, and heard about the brand as a result of their experiences over time.

  • Letter-mark: a logo that features the initials of a brand name with or without the name spelled out beneath, alongside, or above the name.​

  • Word-mark: a logo that features the brand name in a simple and unique typeset.​

4 Buyer's journey-

The active research process people go through leading up to making a purchase. Three stages: Awareness (problem-based keywords), Consideration (solution keywords), and Decision (branded keywords).  When buyers have a problem, they search for a solution, and often buy a product or service.​

-C-

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6 Cannibalization-

when a company's product or service takes away from another of its existing products or services.

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2,3,4 Call to action-

the most effective marketing messages give the recipient or prospect a single, very clear, very short action to take next. 

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1 Caveman Syndrome-

human biology is optimized for conditions that existed 100,000 years ago, not for the world in which we live today. Part of the challenge of working in the modern world is that our brains and bodies are tuned for physical, and social, survival, not 16 hour work days. Business hasn't been around long enough for our biology to adapt to the new demands we are placing upon ourselves. We are running demanding new software on ancient hardware.

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6 Channel contention-

competition that exists between the various sellers of your products in the distribution chain.​​​

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2 Communication (vs promotion)-

promotion is a closed dialogue from business directed to consumer. Communication is open dialogue between the business and consumer, and an interactive, effective mean of providing contacts with what they want.

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4,6 Company branding-

the process of delivering clear, relevant, consistent, and long-term messages about a company which provides value to prospects.​

1,5 Conscious capitalism- 

​Four tenants on conscious operation in capitalist existence:

  • Higher Purpose: Recognizing that every business has a purpose that includes, but is more than, making money. By focusing on its higher purpose, a business inspires, engages, and energizes its stakeholders.

  • Stakeholder Orientation: Recognizing that due to the interdependent nature of life and the human foundation of business, a business needs to create value with and for its various stakeholders (customers, employees, vendors, investors, communities, etc.). Like the life forms in an ecosystem, healthy stakeholders lead to a healthy business system.

  • Conscious Leadership: Human social organizations are created and guided by leaders - people who see a path and inspire others to travel along the path. Conscious leaders understand and embrace the higher purpose of business and focus on creating value for and harmonizing the interests of the business stakeholders. They recognize the integral role of culture and purposefully cultivate conscious culture.

  • Conscious Culture: This is the ethos -the values, principles, practices- underlying the social fabric of a business, which permeates the atmosphere of a business and connects the stakeholders to each other and to the purpose, people, and processes that comprise the company. 

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1 Conservation of energy-

humans avoid expending energy unless absolutely necessary. People only start to spend effort if their reference levels are violated in some way, so if their expectations aren't violated they don't act. 

2 Consumer wants and needs (vs products)-

you can't develop products and then try to sell them to a mass market. You have to find out what people want and then provide it for them their way. ​​

2,3,4 Content-

the message your inbound strategy delivers. The content process: 1. Plan, 2. Create, 3. Distribute, 4. Analyze, and 5. Repeat. Defined by purpose, format, and topic. Buyers respond better to different content across every stage of their journey: awareness, consideration, and decision. Keep your buyer persona's goals and challenges in mind when creating content. When possible with fluidity and consistency of message of content, include keywords.

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2 Convenience to buy (vs place)-  

marketing is getting customers to products. Sales is getting products to consumers. Know how each subset of the market prefers to buy (on the internet, catalogue, telephone, or in person)

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4 Conversion process-

part of inbound marketing methodology used to convert prospects into leads and then customers. Online: call to action, landing page, thank you page.

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1 Core human drives-

have a profound influence on our decisions and actions: 1. The Drive to Acquire, 2. The Drive to Bond, 3. The Drive to Learn, 4. The Drive to Defend, and 5. The Drive to Feel. 

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Cost of sales-

the costs required to bring your product or service to the marketplace. Includes expense of value production and overhead.

  • Cost per Click: a web metric based on how often ads are "seen and clicked on" by potential customers, in proportion to what you pay for the ad.

  • Cost per Order: the cost per promotional piece, multiplied by the number of leads contacted and divided by the people who buy, equals your CPO.

  • CPM (Cost per Thousand People): the cost for 1,000 people to actually see, hear, and listen to an ad in a specific media channel.  

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2 Cost to satisfy (vs price)-

price is one part of the cost to satisfy, other costs include the resources (like time or energy) a customer spends on satisfaction. 

7 Customer equity-

affected by revenue and by the cost of customer acquisition, retention, and cross-selling. 

  • Brand equity management can be related to customer equity management in different ways. One way to reconcile the two points of view is to think of a matrix where all the brands and sub-brands and variants that a company offers are rows, and all the different customer segments or individual customers that purchase those brands are columns. Effective brand and customer management would necessarily take into account both the rows and the columns to arrive at optimal marketing solutions.

  • The customer equity perspective puts much focus on the bottom-line financial value created by customers. In its calculations, however, the customer equity perspective largely ignores some of the important advantages of creating a strong brand, such as the ability of a strong brand to attract higher quality employees, elicit stronger support from channel and supply chain partners, create growth opportunities through line and category extensions and licensing, and so on. 

  • Brand equity, on the other hand, tends to put more emphasis on strategic issues in managing brands and how marketing programs can be designed to create and leverage brand awareness and image with customers.

  • Customer-based brand equity (CBBE) maintains that brands create value by eliciting differential customer response to marketing activities. The higher price premiums and increased levels of loyalty engendered by brands generate incremental cash flows.

7 Customer mind-set-

the customer mind-set includes everything that exists in the minds of customers with respect to a brand: thoughts, feelings, experiences, images, perceptions, beliefs, and attitudes. To provide a concise summary, a shorter “5 As” list can highlight important measures of the customer mind-set as suggested by the resonance model: awareness, associations, attitudes, attachment, and activity. Brand value is created at this stage when customers have (1) deep, broad brand awareness; (2) appropriately strong, favorable, and unique points-of-parity and points-of-difference; (3) positive brand judgments and feelings; (4) intense brand attachment and loyalty; and (5) a high degree of brand activity.​​

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-D-

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1 Desire-

effective marketing makes your prospect want what you have to offer. The more core human drives you can connect with your offering, the more they want what you have and the more you can charge for your offering. 

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6 Direct marketing-

a form of promotion where companies communicate to end users directly without using intermediaries to generate a customer response or transaction.​

Disguised pricing-

a pricing where the seller hides or shifts the price of the product or service onto another product or service to give something of value for free.​

4 Distribution-

makes content relevant. The right distribution technique gets the right content to the right person at the right time. 

-E-

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6 Economies of scale-

a concept whereby the cost per unit of a product or service gets smaller as more units are manufactured.​

1,5 Education-based selling-

the process of making your prospects better, more informed customers. By investing energy in making your prospects smarter, you simultaneously build trust in your expertise and make them better customers. 

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2 Effective advertising-

accomplishes four things: promises to solve a meaningful problem, paints a picture of what your life will be like once that problem is solved, proves that you will deliver on your promise, and pushes the prospect to subscribe, download, donate, share, or buy. Effective content marketing builds on the self-interest of your contact.

2,3,4,6 Email marketing-

can be effective if you determine your audience, segment your contacts database, send the right email at the right time, and nurture your lead into a customer. Emails should add value, not ask for it. Optimize for mobile: responsive templates, bigger is better, clear and concise messaging, and avoid using tiny fonts. Define a clear goal for your email, personalize where appropriate, focus on engagement, test, and analyze. Delivery rate: is your email getting through to your contacts? Open rate: tells you the effectiveness of your subject line. Click rate: are people engaging with your emails? ​

1 End result-

marketing is most effective when it focuses on the desired end result, which is usually a distinctive experience or emotion related to a core human drive.​​

6 EPK-

electronic press kit. A collection of materials (bios, pictures, videos, songs) in digital format used to get gigs, blog reviews, and more.

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6 Exclusive distribution rights-

companies handling digital distribution typically request permission to be the sole provider of your recordings, since no two companies can digitally distribute the same recordings on download sites at the same time.​

6 Executive summary-

a one-page overview of the key sections of a marketing plan (vision, goals, strategies, allocation of costs, etc.). Sums up why your business idea will be successfull and qualifies whether or not your plan is worth reading.

 

7 Experiential marketing-

promotes a product by not only communicating a product's features and benefits but also connecting it with unique and interesting consumer experiences.

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6 Extension-

refers to both brand extensions, where new products outside the realm of a company's typical offerings are created, and line extensions, where different variations of an existing product are offered.

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-F-

Forward buying-

retailers order more product than they plan to sell during the promotional period so that they can later obtain a bigger margin by selling the remaining goods at the regular price after the promotional period has expired.

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1 Framing-

the act of emphasizing the details that are critically important while de-emphasizing things that aren't by either minimizing certain facts or leaving them out entirely. 

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1,6 Free-

if you want to attract attention, quickly give something valuable away for free. People love to get something for nothing. However, people don't appreciate low quality free give aways as much as high quality free give aways. Always provide value. If it is easier for people to experience your company's offerings, and the more people start to talk about your offerings, the sooner people will pay for all of your company's offerings.​

-G-

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6 Gracenote Media-

after entering the data about your music into the Gracenote Media database (www.gracenote.com), your song data will show up when people play your recording in their computers.​​

Guerrilla marketing-

an unconventional form of promotion that can be employed on a low budget to no budget.

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-H-

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1,2,5 Hero's journey-

in The Hero with a Thousand Faces, Joseph Campbell identifies a "mono myth" with a fundamental structure that is shared among myths that have survived for thousands of years, also known as the hero's journey.

  • Identifies a cycle between the ordinary world (call to adventure, meeting the mentor, the journey home) and the extraordinary world/ the world of transformation (crossing the threshold, helpers & challengers, into the innermost cave, the supreme ordeal, seizing your treasure).

  • The mistake most often made in marketing is thinking of your business as the hero, resulting in egocentric messages that no one else cares about. The prospect is always the primary hero, because they are the one going on the journey to solve a problem or satisfy a desire.

    • ​The prospect starts off in the ordinary world of their lives.​​

    • The call to adventure is an unsolved problem or unfulfilled desire.

    • There's resistance to solving that problem of sastisfying the desire, until...

    • A mentor (your content) appears that helps them proceed with the journey.

  • By making the prospect the hero, your brand also becomes a hero in the prospect's story. By accepting the role of mentor with your content, your business accomplishes its goals while helping the prospect do the same.​

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# Hold up-

it is frustrating as hell when someone representing a company vandalizes public property (such as street posts) with promotional items. Not only bad for environment, the company can be fined or pursued otherwise with legal action. Same goes for littering. As for vehicles, they are not places for promotional material. Use permission marketing. No one asked for this information so why waste efforts on someone who didn't say they were interested? If it rains before they get back, people may be angry when the material becomes messed up on their vehicles. ​

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2 Hook-

a single phrase or sentence that describes an offer's primary benefit. The reason someone would want what you're selling. The better your hook, the more attention you'll grab, and the easier it will be for your satisfied customers to tell their friends about you. ​

-I-

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1  Importance-

everyone has a fundamental need to feel important. The more important you make people feel, the more they will value their relationship with you.

2,3,4 Inbound links-

are links from other sites to your site. Search engines follow links between pages to see how they're related to each other. The more inbound links on and to your site, the more optimized your site is for search engines. 

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4 Inbound marketing-

a technique for drawing customers to products and services via content marketing, social media marketing, and search engine optimization. Equals content plus context. Inbound methodology: attract, convert, close, and delight. 

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4 Inbound sales-

buyers have more information available to them, and higher expectations for a relevant, personal experience when making a purchase. Giving them that delightful experience is inbound sales. ​​

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6 Independent radio promoter-

a professional promotion person who, by virtue of his or her experience and connections in the radio business, helps get records played on the radio. While many independent radio promoters are hired by record companies, they are independent of them.​

6 Indirect route-

a method of distribution where the creator moves products through intermediaries such as online and physical distributors, retailers, agents, and songpluggers.​

 

7 Information processing model of communications-

for a person to be persuaded by any form of communication, the following 6 steps must occur: exposure (seen or heard), attention (noticed), comprehension (understood), yielding (favorable response), intentions (plan action), and behavior (action).

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In-house-

the process of using your own company and resources to complete a job.​

6 Intercept interview-

a research technique designed to get feedback from customers as they are leaving a venue.​

6 Inverted pyramid-

in press releases, a style of writing that includes the most important information at the top, followed by the less important information.​

Investor sentiment multiplier-

Financial analysts and investors consider a host of factors in arriving at their brand valuations and investment decisions. Among them are: market dynamics, growth potential, risk profile, and brand contribution. The value the brand creates in the marketplace is most likely fully reflected in shareholder value when the firm is operating in a healthy industry without serious environmental hindrances or barriers, and when the brand contributes a significant portion of the firm’s revenues and appears to have bright prospects.

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6 ISRC code (International Standard Recording Code)-

an international identification system used for identifying content (sound, music, and video recordings) online.​