Highest Price (Amount) You Sell a Beat For

  1. 3 years ago

    Griffin

    11 Apr 2016 Power Contributor User since 2015 Colorado + 1080 RP

    Highest Price You Sell a Beat For

    Early I started a thread on the lowest price you sell a beat for, I'm wondering what's the highest price you ever priced a beat and actually sold it. From what I've seen and experienced, $199 is a sweet spot for exclusive prices. Not only will this feed my curiosity but maybe it will help others price exclusives.

  2. Des

    11 Apr 2016 User since 2015 + 467 RP

    You're gonna get the phone book on this one, but I sell exclusively for no less than $500. I have been doing this for a long time so I have good rapport from doing this a lot. A producer that has just started might want to start at least in the $100 range with special license restrictions.

    For example http://www.tcustomz.com/ has a thing that's called an "Unlimited License" which gives the artist decent control but still retaining rights.

  3. Nuro

    11 Apr 2016 User since 2016 + 291 RP

    It's challenging answering this. You can price your exclusives on the time you spent on your beat or price it on how much you think it's actually worth.

    Example it could take you 3 hours to create a slammin beat and if you were working at $20 an hour you would technically sell for $60

    But how much do you think its actually worth? Does it have sentimental value, is a current popular fad, is it unique in some way, therefore you could price it at $200

    But to answer your question, what is the highest amount to price an exclusive? I would say no less than $100

  4. Marketron

    12 Apr 2016 User since 2015 San Diego + 223 RP

    I think I've mentioned this already, and I have to really stress this but the way your website is presented can greatly impact your beat pricing (given that your beats are good)

    Customers are by default judgemental when going to a website so you need neutralize doubt by having a clean professional web page. When you have a pro environment, you can increase your prices.

    How many of you have not signed up for a product or bought something online because the website you are buying from looks horrible? In a dream world it shouldn't matter but that's not the world we live in.

    Checklist:

    1. A minimal website with only the essentials (sections) if you are using Soundgine's VUE
    2. Professional header graphics. Hire a good designer to make you one if graphic design is not your thing. Optimize! Make sure your graphics are web optimized
    3. Social media badges with "number" counts. Customers feel better when you have "x" amount of likes or "followers"
    4. Don't overwhelm your customer by having 30 tabs and 30 banners on your website. Everytime you have an external link leaving your website, your conversions drop.

    I really could go on, but having a clean pro website can have a direct impact on your beat pricing.

    Think about when somebody buys a Ferrari. Do you think they feel better buying from a classy Ferrari dealership, or a used car lot.

    Your website should not look like a used car lot.

  5. Breeze

    12 Apr 2016 User since 2015 London + 841 RP

    I think the price where you don't regret it when you fall asleep but you have to be realistic too. Truthfully, this is why you need solid terms in your license.

    Imagine if you sell a beat for $200 that happens to top the iTunes charts. This is why you need to customise your license so you get a royality if you are listed in any type of charts. I have a 3% royality plus production credits.

    So if you have that covered, you can sell your exclusives at competitive prices.
    '
    @Soundgine' can you give us an idea on how much people are buying exclusives for? I know your data is sensitive but a general idea would be great.

  6. Soundgine

    12 Apr 2016 Administrator User since 2014 Los Angeles + 17594 RP

    Obviously, we can give individual stats but we took the top 100 producers in terms of sales and calculated the average dollar amount for exclusives. The average price of exclusives turned out to be

    $177

  7. Velocity

    12 Apr 2016 User since 2015 New York + 107 RP

    Funny story is that I had accidently priced an exclusive to $500 instead of $50 when I first starting out. Well a day later somebody bought it. Made me think that raising the price that high makes people want to buy it when they know $500 is not accessible to artist just starting out, making them more "exclusive"

  8. minty

    12 Apr 2016 User since 2016 + 408 RP

    You may have something there' @Velocity ';

    There is most definitely a group of people that would pay a price that most people can't. I'm a bit of a snob that way. Sure, I could buy a regular polo shirt, but I'd rather pay 7 times more for a Lacoste. Why?

    Because I can, and most people can't afford it. Same principal goes towards beats but you must have a brand behind you first.

  9. OxygenBeats

    16 Apr 2016 Power Contributor User since 2015 + 3556 RP

    '@Soundgine' hmmm that's really interesting, very insightful!
    '
    @Velocity '; haha that's a funny story, I've had similar stories, but not quite that dramatic lol. But I think you definitely have a good point. There's so many things people want just because they are expensive and/or are part of an expensive brand. It's very sad, yet true for most people I think.

  10. 2 years ago

    grim

    22 Jun 2017 User since 2016 + 380 RP
    Edited 2 years ago by grim

    In art college, we learned about price-quality relationship

    Price Quality Relationship

    pricing is a strong psychological component which can manipulate customer’s decision making. Keep the pricing high, and the customer will think that the quality must be high too. This expectation of the customer is because he wants to receive value for his money. So when he is paying more money, he is expecting more value. And you are better off giving him a high-quality product.

    On the other hand, if your product is high quality, and you are keeping the price low, the customer might not see the value in the product. He might think that he is paying so less for the product. Then, is the product up to mark? Will the quality be high when the price is so low? That, my friends, is the problem with a price-quality relationship.

    Personal Experience

    Our marketing class had access to a week with a Ralph Lauren Polo store, they set up a corner of the store called "Featured Designer". We called ourselves EVOLVE. Ralph Lauren provided us with blank t-shirts and we were to design and price them.

    We designed these cool minimal design type shirts and after a week we had a full line of shirts ready to sell. We decided on a price of $30 and waiting until the end of the day to see how it went. We didn't do too well, we sold 5 shirts.

    I told the team to triple the price and see what would happen. I wanted to manipulate the customer's psychology into thinking this EVOLVE line was for the big players, $90 for a shirt surely must mean something right? Perhaps art?

    We couldn't believe how fast these shirts were being sold, I had to make a call to our guys in the print shop to print as many they could.

    This translate in beat sales as well. You never want to go too low in pricing. Raising your prices will send the customer a message that you're not desperate for money and that you value your work. This idea coupled with this approach is a solid one.

    Overall, each and every company out there is daily trying to improve their quality at an optimum price. Some have been able to do that & they are getting a higher pull from the market. Others have not been able to balance price and quality which has resulted in the brand being forgotten and a competition brand being adopted in their place.

  11. grim

    22 Jun 2017 User since 2016 + 380 RP

    @Velocity '; Funny story is that I had accidently priced an exclusive to $500 instead of $50 when I first starting out. Well a day later somebody bought it. Made me think that raising the price that high makes people want to buy it when they know $500 is not accessible to artist just starting out, making them more "exclusive"

    How about that? Nice :-D

  12. an0nym0u5beats

    23 Jun 2017 Power Contributor User since 2016 Los Angeles + 1969 RP
    Edited 2 years ago by an0nym0u5beats

    I usually dont sell exclusives, as i make more off selling multiple licenses for the same beat. With that said, i do price my exclusives starting at $600 but i never actually offer them.

    However, recently i was forced to eat my own words as a label approached me wanting to buy 2 beats. So i sold them both for $1000 each. ;)

    I should say "i'll never do things" more often ;O lol

  13. Tyson

    23 Jun 2017 User since 2016 Hawaii + 882 RP

    '@an0nym0u5beats'

    It's like you're happy they sold for 1k each, but they were your kids
    -image-

  14. an0nym0u5beats

    23 Jun 2017 Power Contributor User since 2016 Los Angeles + 1969 RP

    '@Tyson' hahahaha i know right! Luckly I'll get some visitation rights lol ;)

    Oddly enough, i never even sold 1 license on those 2 beats, then all the sudden a label wants both exclusively? wtf? lol

 

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