A report that examined the role that music plays in social media says that the same digital technology that changed the music industry will have a similar impact on advertising. Heartbeats International, a Swedish marketing agency, strongly recommends that brands replace traditional advertising mindsets that focused on the 4 P’s (price, product, placement and promotion) with the 4 E’s (emotion, experience, engagement and exclusivity).
Music is digital and mobile now, and that means more people have access to more music than ever before. The study found that most people now listen to music on an average of five platforms, including pc’s and mobile devices. The number of hours per day that they are listening is growing, and 2 out of 5 people have music as part of their social network profile.
The study recommends three ways that brands can integrate music into their digital marketing strategy. The “Association” strategy creates a connection between an artist and an audience, as Bacardi did by signing a “record deal” with British electronic band Groove Armada.
The “Involvement” strategy gets fans involved with music – as Intel did with its remix competition, which resulted in 19,000 people becoming fans of Intel on their MySpace page. The “Exploration” strategy calls for brands to sponsor music discovery platforms such as Duracell sponsored Ramp Music.
There’s a lot of sense in this study and the recommendations. Social media, music and advertising are made for each other. Internet radio stations should focus on creating offerings that merge the needs of consumers and advertisers around music.