Nicholas Lovell - How To Turn Your Freeloaders Into Superfans (Darker Music Talks March '14)

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Nicholas Lovell - How To Turn Your Freeloaders Into Superfans (Darker Music Talks March '14)

  1. 1. Freeloaders, superfans and the future of business culture Nicholas Lovell @nicholaslovell #DarkerMusicTalks
  2. 2. How do we make money when everything is going free?
  3. 3. • “You can’t make money from apps” • “We’ve got to make people start valuing content again” • “I deserve to be paid for my work”
  4. 4. You need to earn the right
  5. 5. Free does not mean no revenues
  6. 6. Flip your thinking
  7. 7. Amount each person is willing to pay Revenue opportunity Marketing opportunity
  8. 8. The Curve
  9. 9. The Curve – in 3 steps • Find an audience • Use technology to figure out what they value and to talk to them again • Enable superfans
  10. 10. Freeloaders
  11. 11. Source of revenue
  12. 12. Word of mouth
  13. 13. Potential converts
  14. 14. Gawkers
  15. 15. Technology • Understand what your audience values • Earn the right to talk to them again
  16. 16. Superfans
  17. 17. Let those who love what you do spend lots of money on things they truly value
  18. 18. Let those who love what you do spend lots of money on things they truly value
  19. 19. Let those who love what you do spend lots of money on things they truly value
  20. 20. Let those who love what you do spend lots of money on things they truly value
  21. 21. Target: $400,000 Average pledge: $38.28
  22. 22. An unsurprising distribution Number of pledges 60,000 50,000 47,946 40,000 30,000 24,636 20,000 11,530 10,000 1,090 900 148 100 10 4 $250 $500 $1,000 $5,000 $10,000 0 $15 $30 $60 $100 Number of pledges
  23. 23. A very surprising distribution Double Fine Project revenue $1,400,000 1,153,000 $1,200,000 $1,000,000 $800,000 739,080 719,190 $600,000 $400,000 100,000 50,000 74,000 40,000 225,000 $200,000 65,400 $0 $15 $30 $60 $100 $250 Double Fine Project revenue $500 $1,000 $5,000 $10,000
  24. 24. A very surprising distribution • Total raised: $3,336,371 Pledges Money >=$1,000 0.1% 6.0% >=$250 1.3% 15.4% >=$100 14.7% 51.9%
  25. 25. The Curve for music
  26. 26. What are you going to give away for free?
  27. 27. How are you going to earn the right to talk to them again?
  28. 28. What are you going to sell for 10x, 100x, 1,000x the previous “average” price?
  29. 29. Love your freeloaders Love your superfans Love everyone inbetween
  30. 30. Thank you @nicholaslovell www.nicholaslovell.com

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