In the traditional B2B music industry, the value of a music track is primarily determined by how effectively the user uses it and the number of listeners who use it. It goes without saying that the cost of using a track in an advertisement for instance, will be considerably more than if the same track was being used as a background on a film.
However, the music industry is changing. As people increasingly realize how easy it is to download music from sites such as iTunes and YouTube, they have begun to turn to online music sharing sites like MySpace and Bandcamp. At the heart of this is a simple truth: the more freely available music users are able to download, the higher the value of that particular piece of music. As a result, the price per track drops significantly when music is freely accessible.
However, even with these new changes, the B2B industry is not about to undergo a complete overhaul. Many small business owners and enthusiasts still use a standard B2B format in which they can use tracks as part of their marketing mix to drive traffic to their websites.
The big question is whether or not music users will continue to use these B2B services. If the answer is yes, the impact of those who use online music sharing sites like Bandcamp and MySpace may continue to grow. And if the answer is no, it will probably take some time for the traditional industry to adapt.
The fact is that even with the changes taking place in the music industry, there is a lot that is likely to remain the same. For example, the popularity of iTunes, the de facto marketplace for all sorts of digital music, is unlikely to fall because its service costs money to maintain and because the overall size of the music industry has been shrinking. Even if the price of music per track were to drop dramatically, the value of music would remain essentially the same.
The question is whether the B2B market will adapt or whether it will simply continue to grow. Only time will tell.
One thing is clear. A business using B2B methods to drive traffic to its website is still an effective way to generate sales. Even if the cost per track continues to drop, the value of the product itself is still likely to remain high. And because it’s so simple to start earning some serious money by selling music, many business owners find it easier to go this route than trying to compete with the hundreds of thousands of other businesses that do the same thing.
Of course, there is still a lot of work involved in being an efficient B2B entrepreneur. It requires careful planning and effective execution. But at least you can rest assured that your site will be attracting visitors to your site rather than having them go to someone else’s.
So, if you’re looking for an effective way to attract traffic to your website, why not give B2B marketing a try. If it works, great, if it doesn’t… just try something different next time.