Lukas Graham And Digital Music’s New Fan Conversion Funnel
The image featured above is a screenshot of a post on recording artist Lukas Graham‘s Facebook page. This blog entry is about the idea of the Digital Music’s New Fan Conversion Funnel as illustrated by a comment posted in the comments section by Lukas Graham fan, Stacy Angus.
But first, a quick crash course on conversion funnels.
A conversion funnel is a marketing and sales concept referring to the path that a prospect takes to reach and complete a desired goal action. The funnel consists of a series of events that begins with the event that causes the prospect to enter the funnel and ends after the prospect has completed the final event (goal action). The progressive movement through the funnel results in measurable activity called actions. The rate of success of completing actions between event stages is called conversion rate.
Great. Now that you’re an expert on conversion funnels, let’s take a walk through an example of Digital Music New Fan Conversion Funnel as illustrated by a fan’s comment on Lukas Graham’s album artwork post: Discover > Engage > Purchase (goal action) > Evangelize (funnel extension)
- Event 1: Discover – Stacy discovered Lukas Graham for the first time while she was listening to a station on Pandora. Lukas’ single “7 Years” came on and captured her attention.
- Event 2: Engage – With a new found interest in Lukas, Stacy left Pandora and went to YouTube where she can search for more of his music and listen for free. Stacy is becoming more interested in Lukas as she continues to engage his catalog on YouTube. She listened to his music all day non-stop and blossomed into a fan of his music.
- Event 3. Purchase (Goal Action) – Stacy heads over to iTunes and purchases Lukas’ debut self-titled album, “Lukas Graham,” which was the first time she purchased an album on iTunes. She also purchased tickets to his tour to see him perform the song that trigger her interest, “7 Years,” and his other songs.
- Event 4. Evangelize (Funnel Extension) – Now a new fan of Lukas Graham and his music, Stacy searches for his Facebook page and leaves a positive comment that earns over 200 likes. (I haven’t visited her personal Facebook page, but it’s likely that she made at least a status update about her discovering Lukas Graham).
Discover (Pandora) > Engage (YouTube) > Purchase (iTunes) > Evangelize (Facebook)
Obviously, there are many digital music services out there that can be used in place of these services mentioned.
In a time when music creators and rights holders are becoming more vocal and active about digital music income, demonstrating the effects of “exposure” (the value proposition of ad-supported digital music services such as Pandora) is key to reducing the impact of low streaming royalties.
Unfortunately, though, due to fragmentation within the digital music ecosystem and limited access to listener data, it can be difficult to map, track, and measure the events that lead to some conversions.
Fun Fact! I too discovered Lukas Graham for the first time on Pandora. I was multitasking; doing work for my startup TuneRegistry and my client Audiu when “7 Years” came on my Hozier station. Just as it did for Stacy Angus, the song captured my attention and sparked my interest in learning more about Lukas. I took to Facebook to check out his page where I found Stacy’s comment, which led to this blog entry. =)
On point. Thanks for sharing!