Encouraging fans to participate in resale on the secondary marketplace helps create an interactive ecosystem where both you and your supporters can benefit. Here’s how to make your media appealing for resale and why it’s beneficial:
Create Limited-Edition Content to Drive Demand: Limited-edition releases give fans a collectible asset they can be proud of, and scarcity tends to drive demand. When fans know that only a select few will own a specific edition of your song, Backstage Pass, or event ticket, they’re more likely to see value in buying and reselling it. Higher demand for limited-edition content on the secondary marketplace increases the likelihood of resales, which in turn generates royalties for you.
Design Your Media for Collectibility: Just like traditional collectibles, making your media more visually appealing or thematically unique can make it more desirable for fans to own and resell. For example, you could release a unique cover for limited editions, offer exclusive digital artwork, or incorporate special descriptions that make each piece stand out. When fans view your content as a collectible rather than just a digital file, they’re more inclined to buy, hold, and resell it on the marketplace.
Encourage Fans to See Their Purchases as Investments: Unlike traditional platforms, Finay lets fans genuinely own your media through NFTs, which they can resell. Remind fans that their purchases aren’t just supporting you—they’re also investments that can grow in value as your career progresses. By viewing their purchases as assets, fans become more engaged, as they’re part of a community where they can benefit alongside you.
Set a Fair Royalty Rate to Benefit Both You and Your Fans: A balanced royalty rate (up to 20%) encourages fans to resell because it allows them to retain a fair profit while also generating royalties for you. When fans know they can profit from reselling, they’re more motivated to engage with your releases and participate in the secondary marketplace. This benefits you by ensuring continuous royalties from each resale.
Promote Resales in Your Community: Mention the benefits of resales to your fanbase through posts or private channels. For instance, let fans know that if they have limited-edition media, they can resell it to other fans who may have missed out. This can spark an active marketplace, driving engagement and increasing demand for your media on both primary and secondary markets.
Use Resale Demand as Part of Your Branding: Fans want to support artists who are not only talented but also have an exciting, sought-after brand. When your media consistently sells well on the secondary market, it builds your brand’s reputation, making your work even more desirable. This branding strategy can elevate you in the eyes of current and potential fans, helping your content maintain or grow its value over time.
By fostering a culture of resale, you create a community that supports your career and financially benefits from it as well, making fan engagement both rewarding and sustainable.