Canadian Music Trade - February / March 2020 | Page 16

NAMM News
2020 : A Crossroads of
OPPORTUNITY
As
the dust settles from The
2020 NAMM Show, the
real work begins. The ideas,
tips, strategies, and inspi-
ration gleaned from our industry’s annual
family reunion can provide a roadmap to
power a successful year.
The 2020 NAMM Show kicked off
with the Breakfast of Champions, hosted by
NAMM President and CEO Joe Lamond.
During this special educational session,
Lamond interviewed several industry experts
on a concept he calls “crossroads.”
As we start 2020, our industry could be
described as being in an “in-between period.”
The digital transformation continues, and
we are also in transition between technolo-
gies such as conventional automobiles and
self-driving cars, traditional medicines and
new cures, along with the widespread adop-
tion of artificial intelligence and the possibili-
ties this new field will bring. So “in between”
is the actual definition of a crossroads.
But more than anything else, it’s a cross-
roads of opportunity.
It’s important to have an understanding
that we can’t ignore the big picture while we
tend to our day-to-day. We have to focus
on the entire ecosystem of our business just
to stay ahead. For some, that might mean
diversifying. It might mean making some
really tough decisions – maybe to abandon
one segment for another more profitable
one. Either way, we can’t forget that as
we’re changing, the world around us is also
changing. That means we must all choose to
adapt, constantly.
The concept of crossroads, if you take it
further, is also a movement. It’s an embrace
of all the professional communities in our
industry and acknowledgment that they’re all
interconnected. Think of it as a celebration
of the diversity of our industry. Maybe you
run a full-line retail store. A lot of you would
then moonlight at a club doing sound, or at
a church playing. How many of us are still
active music makers ourselves? And point
blank, because of that, none of us really fits
into a specific box. We have different busi-
nesses, professions, aspirations. We’re all wired
differently. And still … all of you have an
essential place in this industry. You belong.
2020 marks a new year, a new decade,
16 CANADIAN MUSIC TRADE
and a new normal.
It also means an
opportunity to look
at your business with
clear, 2020 vision. We
urge you all to find
your own crossroads of
opportunity.
To give you a
jump-start, we’ve
rounded up a handful
ideas and best practices
to help create your business roadmap.
Seek out and eliminate friction.
Online retail giants have amplified consumer
expectations in everything from checkout and
shipping to returns and reorders. Identify any
and all points of friction in your customer
experience and work toward eradicating
them. And whenever possible, involve staff
in creating – and owning – the solutions.
Consider new music education opportunities.
Spotify and streaming have spawned an age
of niche musical tastes. You might host a rock
camp in your lesson program, but what about
students of musical theatre or the blues?
More and more, there’s no one-size-fits-all.
Embrace tough conversations with staff.
Don’t hold back on discussing touchy topics
with your team, such as pay ceilings and
promotions. Short-term discomfort will
often create clarity, dispel common myths,
and even get employees aspiring to positions
within your company that they wouldn’t
have otherwise.
Optimize Instagram. One in 10 Insta-
gram users now shop using the platform,
according to Hootsuite’s stats. If you’re not
already, make sure you’re harnessing the
full power of Instagram to increase sales.
Optimize your business profile with a strong
bio and link to your website or a particular
product. Likewise, consider experimenting
with Instagram ads within your feed or in
your Stories.
Re-examine your policies. For instance, do
you have a strict no-makeup-lesson policy in
your education program? In the age of Uber
and on-demand everything, will that policy
alienate customers? Again, fight friction,
even when it’s tough.
Hey, Alexa, focus on voice search. These
days, nearly 30 per cent of all internet
searches are done without a screen. That im-
pacts how your customers find you. Are you
preparing your search engine optimization
for voice search?
Content (creation) is king. Musicians
now think in terms of music and video.
Does your product mix and lesson program
reflect this shift? Also, chances are you have
expertise in a particular area, be it repairs, an
instrument, or a brand. Is there a marketing
opportunity to present your insight via a
company podcast or video series?
Mobile first. On Black Friday 2019, mobile
orders surged by 35 per cent, according to
Salesforce – and it’s a trend that’s unlikely
to abate. If you’re thinking about rede-
signing your website, think beyond just
mobile-friendly. Successful websites are
now mobile-first, as opposed to being
re-engineered for mobile later. This is a big
project, of course, but figure it into your
long-term planning.
Need more ideas? Head on over to Namm.
org/nammu to access NAMM U’s relevant,
high-value education featuring best practices
and ideas for the music products industry,
helping industry professionals grow their
businesses and careers.
And make plans to join us at Summer
NAMM to pick up more concepts to trans-
form your business. This year’s show returns
to Nashville’s Music City Center from July
9–11. Registration opens in April 2020. We
look forward to seeing you there!