Social media can be a strong driver of traffic and revenue for music retailers. But a social media strategy takes a real devotion to the time-consuming tasks of posting, reading comments, responding to fans, and not getting lost in a never-ending pile of notifications.
Summer NAMM is a mecca for music lovers, retailers, and performers, hosted by the National Association of Music Merchants. It goes far beyond a typical trade show or conference, with solid industry cred as a music festival in its own right.
Remember when the first music video rocked the music industry? The Buggles’ “Video Killed the Radio Star,” was released in the summer of 1981 on MTV. It was one of those moments in music history when it felt like nothing would ever be the same again - and it wasn’t. In the decades since, almost every major music act has released music videos to accompany their hits.
Successful music retailers understand the power of events. Events bring people together, give your staff something big to talk about, and add to the upbeat atmosphere of your store. When you think about it, events have some of the same magic powers as music itself.
Bells are ringing and people are singing at churches near your music store. But do local congregations feel connected to your business? Music is a huge part of church, however many music stores fail to forge meaningful relationships with church members.
Put yourself in the shoes of a teenage drummer who’s interested in buying new gear for gigs. Would this young musician enjoy visiting your store? What about your website? What’s the vibe of your business from their point of view?
Did you know that moms are the #1 most powerful force in music retail for kids? Friends, family, teachers, and pop stars all play a role in sparking kids’ early love for music, but the ultimate decision-maker for most children’s first instrument experience is usually mom.
Local music stores have a persistently poor reputation among DJs, who often view them as too old-fashioned or stuffy. Plus, there’s an ongoing debate in the music business about whether DJs are even musicians, which certainly doesn’t help foster a good bond with music retailers.
In a music retail environment with aggressive competition, many companies are rethinking their traditional strategies for renting and selling instruments. The past 5 years have been especially brutal for U.S. brick-and-mortar music retailers, which have lost about 2.4% of their business to online sellers and worldwide imports.
When people think of music education, do they think of you? Is your business positioned as an expert in music learning?