I had a great chat with Caroline Bottomley at Tuttle last week. She runs Radar Music Videos .
I am giving her some advice on business development for her business as she wants to become the go-to website for indie music videos. However, I also said that I'd tap the power of the network and get your help and advice for her as well.
Read Caroline's description of her business and the issues she faces.
Please comment with your advice for her.
RadarMusicVideos.com is a music video directors' network and worldwide music video commissioning platform.
There are c2000 members, 1-5 briefs are posted each week, all briefs have budgets, usually from £5k/$7.5k to £100/$150. Clients – indie labels and DIY/unsigned artists – pay 15% of their budget to Radar if they commission, the remainder is production budget. Directors can get free accounts on the site, but pay £20/$30 per annum to see and pitch on briefs.
Three issues I'm facing:
1/ Sales. Artist and Label clients who've used the site give glowing testimonials, but the numbers of new clients coming onto the site aren't growing very fast. There's a potentially huge global market for this service of indie labels and DIY/unsigned artists and I'm not getting to anything like enough of them through my own efforts and word of mouth. Is an affiliate scheme the right solution? What other options are there?
2/ Escrow. I'm hesitating about requiring clients to place the 15% commission in escrow. My concern is that it represents a barrier to entry for new clients, who I think are fairly hesitant in general about whether the site is 'worth it'. On the other hand, chasing people for payment is a pain and will become a significant cost once the site gets busier. Should I bite the bullet and do it now? If so, who do you recommend?
3/ People management. I outsource everything I can. I've just started working with part-time people on marketing. How long can I keep outsourcing and holding regular face to face team meetings? I want to grow organically and to put off costs like office overheads for staff for as long as possible.
4/ Given your answers to 1-3 above can you help me prioritise, Where should my resources go?
Caroline is very happy to receive advice from marketing professionals offering their services but in order not to be swamped with pitches, please contribute to the comments here first i.e. show your hand. As a second stage I'll share contact details with her if you give me permission. Please don't contact her via the Radar site for this project.