Wow, wasn't even aware of the Make Offer feature! Been away too long.
Make Offer is now available
This new feature has really brought in sales you might not normally get. We found by talking to producers that have used this feature that they have made sales by accepting offers. There are two ways you can setup a make offer
1. Make Offer (No Price)
This mode can be helpful by pushing the customer to make an offer without any price comparison. Customers are most likely try to get the best deal they can with this option, but if you agree with the price then you have yourself a sale.
2. Make Offer (Price)
This option has a default price and gives a customer a ballpark price to work on.
Additionally, you can add a reserve price where a user cannot lowball you. For example, you can set a price of $50 for the absolute lowest you can go with an offer. If a customer enters $20 they will see an automatic message saying it is below the reserve price.
Note: Many of you already aware of this feature, but this thread has been updated due to the many search engine hits
I think it really depends on the producer and your products and it will probably take some trial and error to find the right range.
I used to start my prices for exclusives at $1,000, but I quickly realized that most people just dont have that kind of money for a beat (unless it's a major artist or someone who is allready making an income from their music.)
I now have my beats priced at $450 for exclusives with the ability to make an offer. I find that this is a pretty fair price for both parties especially since there is room for negotiation. Some of my older beats I have priced lower, like $200 -$250 for exclusive.
'@countmorris' I'm with you on the trial and error. I've experimented with this and of course if you have a ton of beats and you're wanting to make room for newer heat, you can maybe afford to let a few go for the low - but with that said.. some artists can get use to you being priced low for exclusives and not ever want to spend a bigger amount. Right now my newer beats are priced at $499 and I also have a few priced at $349.
Even if you're a new producer, don't sell yourself short. People value things a bit more when they are priced higher.
I prefer to sell multiple "Standard" licenses over a 1 time fee "Exclusive" license, as I make much more money this way. However, if i were to actually offer Exclusive licenses, I charge $600, same goes for custom beats.
I have "Exclusive Licenses" posted on my website but never actually offer the license. I have to ask myself, if im charging $50 for a standard license, will i sell more than 12 for that beat in my lifetime. If the answer is yes, then it makes more sense for me to stick with the standard licenses and not the 1 time exclusive license.
The only real exception to this rule is a custom beat. And as per my contract, I can advertise said beat as promotional material, which is why you will see some beats as "Sold" on my site. These are custom beats, not Exclusive licenses.
In my experience, unless a Label is involved, most rappers can hardly afford a $20 license much less a $600 one.
Kinda off topic but I sold a beat for $500 last month and chatted with the guy that bought it on phone. He said something interesting, he said there's was another beat from another producer that he wanted but passed because his Instagram was nothing but pictures of money, codeine drinks, and weed.
I wonder how many artists wanting an exclusive would rather not buy from a beatmaker that perceives that image.
Not a statement, just a thought.
I always wondered how they find the time to make beats, you know, with being high all the time and always going shopping with all the money they have?
Their videos show they're rich...but they're emails say their poor lol...shakes head
generally speaking, you have to know what your worth as producer. That being said, whatever that is still needs to be feasible to your customer base. Personally, I charge a flat rate per hour I spend working on a track, and thats worked rather well for me. You should also make accommodations for artists who dont have the means to purchase a beat. That being said, I hate when I have people negotiating with me to save money, as opposed to people negotiating with me because they have no more money than they have to offer. If your willing to invest the limited or non-existent funds that you have into yourself because you believe in what your doing, that speaks volumes.
The standard ongoing rate since 2000 via mp3.com is $100 USD for the Exclusive Rights. Varying $100-$500 I sell about 100 a year, 68 so far this year which is nice change on the side from my real full time job. Have had a regular returning customer base since day 1, before most of you were probably born too. You are not selling beats online for $1000, which is why some of you have hundreds of generic trap beats in your store & will continue to do so because most don't do variety & engage with artists.