How Much To Charge For Beats
As you’re browsing around on the internet, you’ve probably run across the question in forums or on a social network asking “How much do beats sell for?” or what should I charge for beats?
This question might seem like it has a simple answer, but this isn’t something you want to take lightly or answer hastily.
Price is one component of establishing value in your customer’s (recording artists) eyes. When you sell your beats online, it’s easy to take the approach of copying other hip hop beat makers prices (Competitive Based Pricing Strategy). However, this is problematic because most online music producers (especially and unfortunately soundclick producers) fail to realize that people do not make purchases solely off price.
When you’re trying to figure out how much to sell beats for, consider these factors (your customers will)
1. Your producer professionalism
2. Your level of customer service
3. Your ability to be reliable
4. Your reachability
5. Your personal track record in the music industry
These things and more are factors that customer’s take into account before they buy an instrumental through your beats site.
So the questions remains how much should you charge for beats?
One approach to take is a market skimming or price skimming approach. This is an approach under which a producer sets a high price. The price is then gradually lowered to maximize on revenues and capture more market share.
Another approach you can take is to choose a variety of price points for your instrumentals on sale and find out which prices customers gravitate toward most. (What beats are selling best? What is the price?) From there, you can have a basis from which to set your prices.
Ultimately, your customers will help you determine the price to charge for your beats. The best advice for setting beat prices is to know your customers and ask for continuous feedback.