Trent Reznor of Nine Inch Nails gets it.
read article – “How to Make $1.6 Million In a Week, by Trent Reznor”
By providing different options in price points and product assortment Trent has given his fans power over their purchasing experience. And on a psychological level, we all crave power in some respect, even if it comes to how, where, and what price we buy our music.
I think we could learn a lot from the success of Mr. Reznor and apply these methods to our own hustle. Start thinking of ways you can create different price points and products for your own merchandise mix, providing options and power over the experience for your fans/customers.
On a financial level, not everyone has the same disposable income to play with, creating different price points allows your customers/fans with different income levels to afford your products. And if they really love your music they will keep investing in you and purchase more over time.
Pennies make dollars, and 500 purchases at $5 = $2500 more in your pocket than giving away your music, (even though there might be 1000 people that download it for free).
every penny (customer) counts.