Week 5_Target Market Analysis
Since Brightwork newmusic is a contemporary classical art ensemble, I think that the target market is divided into two with regards to age, income, and education. In order for the ensemble to gain capital for the members to pay themselves and commission new works by Southern California composers, we need to reach those with higher and more disposable incomes for donations and grant support, which would be the baby boomer generation. However, to keep the momentum of interest in art music going beyond the upper echelon, we need to get the younger of the Millennials and Gen X because they are going to be taking over the workforce soon enough. According to Facebook analytics, Brightwork is reaching the 25-34 demographic in terms of follows and likes, those who are finishing up their education and having their professional lives take off. But the 25-34 range is not those with the amount of money to support the ensemble beyond ticket sales. Interestingly, the reach of the promotions is reaching the 55+ at a close second of 9% versus the 11% of 35-44.
For now, the target market is those with higher levels of education, which will probably guarantee a higher appreciation for music and the arts. (If Brightwork wants to eventually expand beyond the intellectual spaces of universities and galleries, they will have to cater toward making the concerts and music more accessible to lower income groups. As portions of the readings have noted, target markets and strategies might change over time and that is okay.)
I would like the ensemble marketing through Facebook to reach more women, as 53% of the followers and fans are men and 47% of the followers are women, which could be due to the many male-dominated areas of the music industry, especially in classical music composition.
Other psychographics include philanthropic leanings, since the ensemble is under a Fiscal Sponsorship, musical and artistic interests, and more socially progressive values.
For the rest of the course I hope to understand the behavioral data of the audience members that aren't somehow involved in art music themselves. If I can figure out why a non-classically trained person attends a concert and what drew them in, then that will help expand the target audience so that it's not always the same circle of friends, family, and contemporaries.
For now, the target market is those with higher levels of education, which will probably guarantee a higher appreciation for music and the arts. (If Brightwork wants to eventually expand beyond the intellectual spaces of universities and galleries, they will have to cater toward making the concerts and music more accessible to lower income groups. As portions of the readings have noted, target markets and strategies might change over time and that is okay.)
I would like the ensemble marketing through Facebook to reach more women, as 53% of the followers and fans are men and 47% of the followers are women, which could be due to the many male-dominated areas of the music industry, especially in classical music composition.
Other psychographics include philanthropic leanings, since the ensemble is under a Fiscal Sponsorship, musical and artistic interests, and more socially progressive values.
For the rest of the course I hope to understand the behavioral data of the audience members that aren't somehow involved in art music themselves. If I can figure out why a non-classically trained person attends a concert and what drew them in, then that will help expand the target audience so that it's not always the same circle of friends, family, and contemporaries.
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