Spotify Marketing Strategy Report (This Report Is With Info Previous To 2020)

Name of student: Marc Juncà del Moral - 2018168
Degree: Event managment and promotions

Subject: Foundations to marketing and communications
Academic year: 2020-2021
Spotify marketing strategy report
(THIS REPORT IS WITH INFO PREVIOUS TO 2020)
Introduction
Spotify got into the world stock exchange on the 3rd of April of 2018.
Spotify's stock market debut was a real surprise, as its shares were 25% higher than
expected. The streaming music leader opened its shares at $ 165.2. I’m going to
analyze the strategy of this platform to see what benefit we can get from it in our own
marketing strategy.
Strategies for good publicity.
If we do not know Spotify, we have to know that it is a platform that allows us to

listen to music by streaming. It allows us access to all the music on the planet that is
within the platform for free or through a monthly subscription. We can say that
Spotify is the most used music social network. At the moment it has more than 140
million active users in the world and more than 70 million subscribed clients.
Specific focus
Spotify, has to compete every day with Youtube Music, Apple Music, Amazon Music,
and other platforms and to differentiate itself in the market it remains fixed only in
one direction: Music.
While others sell many other things, Spotify is more vertical and remains focused on
music and therefore allows it to be perceived as a specific product and, therefore,
the best is the certain something. At the marketing level, we have to know that in a
globalized and increasingly competitive market it is best to stand out in something
specific.
On one hand, because if we sell only one product, customers easily remember who
we are and what we offer. And on the other hand, if we specialize in selling only one
product or service, we can classify ourselves as experts and surpass our
competition.
Free hook
A hook product is something free or that costs very little that appears on the market
to attract the attention of potential customers and slowly convert them into loyal
customers. In this case, Spotify gives us free and total access to your entire platform,
knowing that if we get used to all that musical availability, it will be easy to convince
us to make a subscription and enjoy the full service.
Analyzing the conversion numbers that this platform has (more than 50%), we can
say that this strategy works wonders. We can verify that the priority of a strategy is
not to directly sell a product, but rather to make the customer test it. If our product
truly solves a demand, problem or need in the market, it will be successful. So we
have to study a way for our potential client to test what we offer. In this way we can
greatly increase the probability that a customer will buy our services.
Personalization
Spotify makes all the music on the planet available to us. Thanks to the algorithms, it
creates personalized playlists and gives us the best musical suggestions according
to our tastes. In short, this platform is constantly working to give us the best user
experience. This customization makes customers accustomed to this treatment and
produces a total dependency on the platform. So we can ask ourselves if we are
giving customers a particular, special, personalized, unique service, etc. Get them to
think about it several times before they go to the competition.
Using strong offers to advertise on Spotify
The first sale in business is "magical" because it establishes a bond and a pact of
trust with our client. For this reason, Spotify constantly creates strong offers so that
users who use the platform for free, try the premium service for free or with offers.
The objective of this strategy is not to generate strong profits, it is to make the
customer try the full service. In this case, if a user tries the premium service, they will
find that it has no advertising, that it has better quality, that they can listen to music
without having to be connected to the internet, etc. So we should think about those
customers who already know us but have not yet purchased our service. It will be
necessary to make specific marketing campaigns for them more forceful to get the
sale.
Unique selling proposition
Spotify is the leader in its category because since its inception it has been presented
in the market with a totally different and revolutionary proposal compared to the
competition. In 2008, when it was launched on the market, it was presented as a
totally revolutionary proposal for those years. If until then, buying music meant
buying a song or a series of songs by a single singer, Spotify changed the rules by
offering all the music in one place, paying only a monthly fee. Therefore, we have to
analyze our competition and verify if we can propose more innovative, alternative
and unique solutions in the market.
How Spotify grew in the business world
Once we understand how we can do good publicity following the example of Spotify,
we can see that the reason for its success has been to adapt to new trends, being a
kind of Netflix of music. This was unthinkable a few years ago and many groups
refused to use this platform. But in the social sphere, the fact of being able to share
music through Facebook and having the possibility of making playlists in which other
users can subscribe, is a progress with justified success. In addition, it offers other
functionalities that give a better user experience and enhance social content. Spotify
has created a new business model and popularized a new way of accessing culture,
today music is already associated with Spotify because, in just a few years, it has
changed the way people listen and share their music preferred daily.
(900 palabras)
SWOT: strenghts, weaknesses, opportunities, threats.

PESTLE: politics, economy, social, technology, enviromental, legal.
Marketing Mix: Price, Place, Product, Promotion
Assignment B

Spotify Marketing Strategy Report (This Report Is With Info Previous To 2020)

Uploaded by

Copyright:

Available Formats

Spotify Marketing Strategy Report (This Report Is With Info Previous To 2020)

Uploaded by

Document Information

Original Description:

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Spotify Marketing Strategy Report (This Report Is With Info Previous To 2020)

Uploaded by

Copyright:

Available Formats

Name of student: Marc Juncà del Moral - 2018168

Degree: Event managment and promotions

Spotify marketing strategy report

(THIS REPORT IS WITH INFO PREVIOUS TO 2020)

Strategies for good publicity.

If we do not know Spotify, we have to know that it is a platform that allows us to

Using strong offers to advertise on Spotify

How Spotify grew in the business world

SWOT: strenghts, weaknesses, opportunities, threats.

You might also like

Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.