Spotify is a worldwide leader in music streaming. Its vast musical library contains artists from almost every country in the world coming from nearly as many different genres. Spotify is a prime example of successful digital marketing. As an online platform, all of their marketing starts with the internet. Spotify’s marketing success is due to a variety of key factors that can be summarized with a few main points.
Social Media Presence
For a streaming service, Spotify has an exceptionally large social media presence. They use this presence to promote artists, shows, and new releases which in return increases plays. Social media is a great free marketing tool. Spotify acts as a middle man between the fan and the artist. As far as digital marketing strategies, companies can use the same approach to increase their presence and brand awareness.
Partnerships
Spotify partners with many large corporations that showcase Spotify as the prime streaming option. Examples of this include professional sports teams using Spotify to showcase a game day playlist. Spotify also posts listener-tailored playlists. Listeners keep coming back to Spotify because they want to discover new music. Also, they want to see what Spotify thinks they will like. This marketing strategy is highly advanced as it builds a relationship between the listener and Spotify. End-of-the-year playlists have also become so popular that everyone from famous movie stars to former presidents is sharing their Spotify playlist.
Spotify Offers Great Subscription Plans
To listen to Spotify you have two options. The first is a free option that comes with commercials. The second is a commercial-free option that only charges the listener $0.99 for their first 3 months. Either way, Spotify is benefiting from the listener’s choice. The same approach can be executed to reach a win-win scenario in digital marketing. Giving the customer a choice not only increases their happiness, improving chances that they will return but also means a sale is more likely.
Artists Want to Be on Spotify
Being on Spotify is a status symbol that an up-and-coming artist has reached a certain level of success. An artist putting their catalog on Spotify is almost the first sign of making it in the music industry. Every artist wants to have a successful career to some degree, and with Spotify, any artist has the option to put their music on the platform. Distributors such as Landr, allow artists to put their music on Spotify for a small fee. Even with unpopular artists likely to not make any money, they still choose to put their music on Spotify for recognition.
Brand Image
This same model is great for any digital marketing strategy. As with Spotify, the brand image is usually the largest selling point. If people are drawn to a brand or product they are more likely to pay more to be a part of it. Artists are not paid well off Spotify-based streaming revenue. However, popular artists get to expand their fanbase to worldwide audiences which leads to increases in concert, merchandise, and album sales. It is more challenging for independent artists to get the same value out of Spotify. That is why it is essential to know your target audience and make the most of your brand image to benefit everyone.
The main thing to take away from Spotify’s success is that they have created a brand image that everyone wants to be a part of. If you aim to get the same out of your digital marketing strategy, reach out to V12 Strategies today. We are a group of marketing experts that use innovative business technology to put you one step ahead of the competition. V12 Strategies offers advising, marketing, and strategic services. For a free basic analysis give us a call at 918-863-5856. We can help excel your company to the next level!
