The phrase “starving artist» has become a cliché because it is often true. In fact, it can be a long time before an independent artist starts earning enough from their music to make a living. Musicians often find themselves in the proverbial “dead end” of having to take a regular job to finance their music, but at the end of the day they don’t have enough time or energy left to devote to their musical projects.
The good news is that there is a way. There are music financing “secrets” that any artist can use to start earning passive income to fund her musical projects.
Secret #1:
You need a system that does the heavy lifting for you. Think of the word SYSTEM as an acronym for “Saves you time, energy and money.” This is because a good system, once set up, will continue to do the work for you while you focus on your music. As a musician, to be successful at making money online, you need to make use of a special type of system known as a “funnel.” You may have heard this term before and scratched your head wondering what it is.
Funnels are simply a system that collects contact information (an email and/or phone number) of someone interested in what you are offering and then “funnels” them through a follow-up sequence. These funnels are always used by the best online marketing gurus because they are proven to work.
Secret #2:
At first, your funnel system should focus on affiliate programs where you don’t have to provide any products or services. You only recommend certain tools to other people like you who will benefit from them just as you do. In return for your recommendation, you earn a commission. However, you can’t choose just any “old-fashioned” affiliate program to introduce into your funnel. That’s one of the biggest secrets to making money online as a musician.
You need to be selective and focus your efforts on promoting high-quality tools that pay you recurring monthly income. Have you caught it? It’s essential and worth repeating: the secret to music financing is recommending tools that not only benefit other musicians, but also earn you recurring income month after month.
You don’t want to spend your time chasing new sales every month. We need to be able to continue earning from referrals in our funnel system month after month, year after year. A recurring monthly profit is the key.
Secret #3:
Again, you can just use email or, to add extra punch, also use SMS text messages, which get much higher open rates. Are you starting to see how, once set up, your system will do all the heavy lifting for you? That’s the magical advantage of having a funnel system.
Secret #4:
There should be training in your system on how to use the tools you promote. Although creating a funnel is something almost anyone can do, it can be helpful to have step-by-step training videos to make the process easier, especially for those who are less adept at the technique.
Secret #5:
You can then leverage your music funding funnel and the skills you’ve learned from it to create other funnels to promote your own music, merchandise, virtual or live concerts, “pre-saved” on streaming platforms like Spotify, and so on! As with your music funding system, you can create a sequence of follow-up emails and SMS messages to engage your potential new fans and drive them back to your music, video, social media profile, product promotion or what you want them to see.
A music financing system is the perfect way to support yourself as an independent artist and answer the question “How to finance my music without trading hours for checks?” It is also a great solution to generate income from home and not have to accept a job that takes away the time and energy necessary for your musical projects. When you’re ready to promote your next song or album, the system will be there for you to do it too!