Canadian Music Trade - April / May 2020 | Page 22

MUSIC RETAILERS SUPPORTING MUSICIANS Amidst the pandemic, Ontario’s Tundra Music/Vintage Guitars is offering all musicians a free consignment listing for one name-brand guitar or music-related item on its website at€www.tundramusic.com. TIPS FOR ONLINE SALES SUCCESS FROM REVERB.COM In a recent webinar, Reverb.com’s Senior Director of Operations and Outreach, Sebastian Fabal, presented a list of tips to help retailers enhance their approach to online selling amidst the pandemic. These are relevant regardless of which platform(s) you’re using. Fabal recently walked through the tips with Canadian Music Trade: 1. Be Extra Transparent Share plenty of detailed pictures – think serial numbers, dents, imperfections, etc. – and list as many specs and features as you can. A statement from Tundra Music reads: “We will always be thankful to the workin’ musicians that play clubs and concerts to make a modest existence and are the backbone of the industry. Our local stars are the unsung heroes that have entertained us all for years and are hurting right now - and for how long? We need them, and need the music to stay alive.” ADVICE FOR RETAILERS IN CHALLENGING TIMES In a recent teleseminar, international business expert Chris Cardell offered the following advice for your business in challenging times: “The better you can show and describe your item, the more confidence your customer will have in what they’re buying, which is especially important in these circumstances,” Fabal says. “You want to mitigate any questions or concerns you can right off the bat, and that has a lot to do with your language and descriptions. You also don’t want people to go to other sites for more information, because that makes it far more likely that they’ll find another place to buy.” 1.€ 2.€ 3.€ 4.€ 2. List More Used Inventory Used inventory is your online shop’s distinct calling card. Make sure you price it to sell within 21 days. “With used or vintage items, we again tell sellers to overly describe the item – especially any modifications that have been made – while also including the original specs,” says Fabal. “Vintage buyers tend to know what they want, and have very specific questions, so the more information you can include, the better.” 6.€ 3. Evaluate Market Prices & Adjust Accordingly Evaluate pricing by paying close attention to the market value, leveraging MAP holidays, and selling through aged inventory. Remember, cash flow is key at this time. “Since cash flow is key right now, we’re really encouraging retailers to be aggres- sive with selling to free up cash,” shares Fabal, suggesting that retailers list used and demo models, floor stock, and inventory that’s several months old. “You might take a loss on it, but you may need that cash now, and if it hasn’t sold for six months…” 4. Communicate with ALL Your Buyers After They’ve Ordered Proactively discuss potential shipping delays and confirm the shipping address to help buyers feel confident about their purchase. “Once the buyer makes a purchase, regardless of whether you’ve already been in touch, message them to make sure they might be okay with a delay on the shipping side, and then confirm their shipping address, as the address on their Reverb account may not be where they’re taking items at this point. That’ll help avoid return-to-send- ers or undeliverables, which are particularly unwanted now.” 5. Ship Safely To ensure the most seamless shipping experience possible, Reverb recommends using UPS, FedEx, or DHL for all shipments.€Opt into Safe Shipping for extra protection, and watch for updates from your go-to carrier. “Right now, more so than any other time, trying to mitigate anything that could possibly go wrong in a transaction is super important,” Fabal concludes. “As long as the shipping structure stays intact – particularly the global carriers – that should go a long way in establishing confidence in both the buyers and sellers.” 22 CANADIAN MUSIC TRADE 5.€ 7.€ Don’t stop marketing Stay in touch with your customers Don’t stop selling – add value Seek financial help from the government, banks, organizations, and suppliers Identify and repair the weaknesses in your business Expand your market share with aggressive marketing Prepare for a better future For more information, visit www.cardellmedia.com. CHECKING-IN ACROSS THE COUNTRY CMT: Have you and/or your staff come up with any unique or interesting ways to continue driving sales despite the circumstances? “Reaching out to the public with income to buy an in- strument at cost to donate to a charity or family in need.” “Helping those with little income to pick up free goods like drum heads. We even ship these free. Social media challenges with prizes just showing we are here for all of our customers. Super unclear about where commerce fits into this current environment.” “We have started free online guitar lessons on Facebook Live. It was very well received in our community. Hasn’t driven sales per se, but has generated a lot of positive vibes for the store that will hopefully translate to more sales long term.” “Home delivery for sales over $50.” “I have gone ahead with some inexpensive renovations that will hopefully help improve sales when this is all done.”