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More than any time in the past 100 years, consumers have made a dramatic shift in the way they reach purchasing decisions. Has your business adapted? Are you prepared for the ever-evolving digital consumer—and today’s noisy business environment? In a special NAMM U Breakfast Session at The 2018 NAMM Show, Marcus Sheridan revealed how buyers have changed, how you can evolve with this shift and powerful examples from forward-thinking companies. Sheridan has been called a “web marketing guru” by the New York Times and one of 20 “Speakers You Don’t Want to Miss” by Forbes. Find out wh

Maxwell’s House of Music is not your typical retail store. At 2017 Summer NAMM, owner Mark Maxwell shared his vision for creating a memorable store design for little cost. He advised other retailers to create a unique design and include character and style that speaks to the store’s personality. The goal is to create a “wow” reaction when customers enter. (Watch the full video for design examples and ideas.) Maxwell admitted that he created a music store that’s “pretty crazy.” He did it with involvement from customers and the community, starting with a vintage logo that describes

The 2018 NAMM Show kicked off with “Breakfast of Champions,” featuring a series of up-close interviews with industry thought leaders. This NAMM U Breakfast Session covered the importance of taking risks and began with its host, NAMM President and CEO Joe Lamond, discussing the critical role of risk-taking in advancing the music products industry. “At some point, you gambled on a new idea, product or service, and that’s why you’re here,” Lamond said. “You had to ask yourself some really tough questions: what products to bet the farm on, how much to invest in that new business or wh

Lee Anderton’s retail business, Andertons Music, skyrocketed after he began an aggressive video marketing strategy in 2010, driven by YouTube. Anderton shared his growth story and discussed the importance of branding with NAMM President and CEO Joe Lamond during “Breakfast of Champions” at The 2018 NAMM Show. (Watch the video to see the full interview.) According to Anderton, his first attempts at marketing on YouTube looked more like QVC than your typical video gear review. It didn’t work, and even though he was disheartened, he noticed people in the YouTube comments section ment

QSC’s growth story includes a series of calculated risks at critical inflection points for the company—the transition from guitar amps to power amps and moving into build-to-order manufacturing. During “Breakfast of Champions” at The 2018 NAMM Show, company co-founders Pat Quilter and John Andrews discussed this and more with NAMM President and CEO Joe Lamond. (Watch the video to see the full interview.) One of QSC’s biggest bets was entering the powered speaker market 17 years ago. The company founders had predicted that growth in powered speakers would affect QSC’s core business

Jam Industries has grown tremendously during the past decade, acquiring and forming partnerships with such major distributors as KMC Music, Davitt & Hanser, U.S. Music Corp. and American Music & Sound. During “Breakfast of Champions” at The 2018 NAMM Show, Jam President and CEO Marty Szpiro discussed lessons learned during this growth period with NAMM President and CEO Joe Lamond. (Watch the video to see the full interview.) Jam Industries created a model where it acts as a service partner to its divisions, such as American Music & Sound. To make this work, Jam attract

2018 marks the 20th anniversary of the Alliance of Independent Music Merchants (AIMM). At “Breakfast of Champions” during The 2018 NAMM Show, NAMM President and CEO Joe Lamond sat down with AIMM founders Skip Maggiora, George Hines and Bob Bankston to discuss this landmark anniversary for the industry marketing and sharing group—and to find out its secret to longevity. (Watch the video to see the full interview.) Bankston commented that “there was a need” in the industry for a group like AIMM in 1998, with consumers becoming more demanding. He stressed that as an entrepreneur, you

The Entertainment Services and Technology Association (ESTA) curated an education program at The 2018 NAMM Show focused on training for event technology professionals. During “Breakfast of Champions,” the opening NAMM U Breakfast Session, ESTA Executive Director Lori Rubinstein weighed in on this program and more with NAMM President and CEO Joe Lamond. (Watch the video to see the full interview.) Rubinstein mentioned that NAMM’s and ESTA’s members intersect, in that they work together in the field every day putting on events. She added that the ESTA-curated education program at Th

Bob Weir, singer, songwriter, guitarist and co-founder of the Grateful Dead, stopped by “Breakfast of Champions” at The 2018 NAMM Show. There, NAMM President and CEO Joe Lamond spoke with him about the role of risk-taking in the Grateful Dead, early viral marketing and his creative process. Here are highlights from the interview. (Watch the video to see the full segment.) What it really boils down to is it’s all an exercise of faith, of some sort. For us, it was faith in our footsteps. We were up to something. We were questing sort of folks. We just assumed that nothing was going

Working with other local businesses can be a great way to build community and even generate new sales. As a music retailer, you know how to establish win-win relationships that benefit yourself and others. Cross-promoting with local partnerships can help increase your customer base and bring awareness to your brand. There are several different ways music retailers can work with other businesses to create a win-win for both. Cross-promotions can range from a social media marketing plan, where businesses tag each other in posts, to giving out fliers for each other’s businesses. The

At 2017 Summer NAMM, Rob Mestric of Port Mac Guitars in Australia shared how Facebook has been key to his company’s business survival and growth. He described his store as a small specialty guitar shop in a small town. Mestric wanted to expand from a regional store to an online market across Australia. Facebook was the most effective way to tell his company’s story, get new customers and sell a lot of guitars, according to Mestric. He started with a few ideas—some that worked well and others that didn’t. He encouraged music retailers to get started and keep using Facebook for eve

Are others using your ideas and affecting your profits? Are you looking for ways to maximize the value of your business? Whether you’re an artist, designer, manufacturer or person involved in building or managing a brand of products or services in the music industry, intellectual property (IP) rights are important. Knowing the basic principles of how IP rights are created and how they can be used, in the view of our firm, MKG, can assist your growth and success. Regardless of the size of your business, you have an IP portfolio, and it is valuable. (Note that this article is not le