BEFORE SITTING DOWN . . .

Grab a pen and write down your favorite genre of music on the whiteboard!

FINDING YOUR NICHE MARKETPacific Music Business CampJuly 2013Presented by Keith Hatschek & Dana Myers

WHAT IS A MARKET?

Webster’s Dictionary: Market: A specified category of potential buyers Marketing: the process or technique of

promoting, selling, and distributing a product or service

What’s the point? Goods/services Consumers Music Fans

WHAT IS A MARKET NICHE?

Mini-market/market segment Well-defined and specific Picture in your mind the person that

consumes/purchases these brands/products: ESPN Whole Foods / Trader Joes Sanrio / Hello Kitty

WHY DOES IT MATTER?

Fewer wasted resources when you can target market to your specific niche

You appear to be a bigger fish in a small pond

WHAT TO WATCH OUT FOR

Defining a niche that is far too large Ex. Music

Defining a niche that is too narrow Ex. Roots reggae music in a minor key with no

lyrics and lots of reverb on the guitar

UNDERSTANDING A NICHE - REGGAE

Age Ethnicity Gender Geography Wealth Media usage Other characteristics (details are important!)

WORKSHOP

Form a group Pick a niche – get it approved Build a profile of who makes up your niche Start with the bullet points from previous

slide

GROUP REPORTS

What is your niche? Describe its inhabitants How do you know what you know? What else would be helpful to learn? How can you gather that info? How might you use the info you have

gathered?

WHY THIS IS REALLY IMPORTANT

Successful musician, manager, label has to always ask and answer the questions – Who will be most interested in my

music/concert/record? What will motivate them to take action? How can I most effectively reach and persuade

my niche? Can I eventually cross over

to another niche (Taylor Swift)