4 Simple Steps for Your Music Marketing Budget

One of the most important things you can do to prepare for the year ahead is to create a budget for your musical activities. Having a budget will give you a much clearer look at where you want to go financially, how you'll get there, and what your progress is along the way.

We've broken down the process into 4 simple steps to help you create a budget:

1. Ask Questions

To help determine what your financial goals for the year will be, first ask yourself some questions:

- Will you be releasing new music this year?

- How will you raise money to pay for the production?

- How will you distribute your music to digital stores?

- How will you promote your music?

- Do you need new promotional photos?

- Are you creating any merch?

- Are you going to buy any new equipment?

- Do you need a new website?

Try to get as clear as you can about everything you would like to do this year, and be sure to write it all down. Writing down your goals will help give you some direction and focus.

2. Determine Expenses

Once you know your goals, write down all of the expenses that you'll need to keep track of:

Cost of Music & Merch

Recording/Mixing/Mastering: Many musicians now record at home rather than go into a studio, so expenses with recording can vary greatly depending on your approach.

CD Duplication / Vinyl pressing / Download Cards: Research how much it will cost to manufacture any physical versions of your album.

Digital distribution: Although minimal, depending on which service you use, there is either an upfront cost or annual recurring cost to distribute your music to iTunes, Amazon, etc.

Merch: How much will it cost to make t-shirts and other merch items?

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