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Summer NAMM 2013 kicked off with the NAMM Retail Summit. In this segment, retail sales and promotions guru Bob Negen shares one of his all-time favorite holiday promotions, The 12 Days of Christmas, with NAMM President and CEO Joe Lamond. This promotion can be an effective way to get people into a store and clear out slow-moving merchandise before the new year. "As everybody here knows, those last 12 days leading up to Christmas are really important," Negen said. "It's when people are spending money. "Every day for 12 days leading up to Christmas, you send one email. And in that e

The last morning of Summer NAMM 2013 began with Best in Show, hosted by Frank Alkyer, publisher of Music Inc. magazine. Six retail gear experts shopped the show to find their favorite products and presented the top picks. Check out the entire session.

Today's customer has less and less time for shopping. The vast majority consider shopping a chore—and a stressful one at that—so they place a huge premium on convenience. Is your store merchandised in a way that contributes to that stress, or is it set up to provide each customer with an enjoyable, stress-free shopping experience? You want customers to be comfortable in your store and able to find what they need easily. The more comfortable they are, the more time and money they will spend with you. Here are some quick and easy ideas for making your store more shopper-friendly: Gi

We did a brand-new sales event last December that was awesome on all fronts. It led to us having our biggest December ever—up 15 percent compared to the previous year. The event was called "The 12 Days of Christmas." Beginning Dec. 13, we gave away an instrument every day until the grand finale on Christmas Eve, when we gave away a brand-new, sparkling red Sonor drum set. Starting Dec. 1, every time customers purchased an item priced $10 or more, they were entered to win in the giveaway. Buy 10 things, get entered 10 times. We featured all the prizes on a table in the shop, sent o

We recently decided to be part of National Music Day on June 21, joining music makers in more than 500 cities and 100 countries. We needed to get the largest number of people playing music in a way that would attract casual musicians and non-musicians in the community. Our solution: ukulele circles Uke circles are accessible to people of all ages and levels of musical ability and encourage people with little or no musical training to participate and experience the joy of sharing music with others. Playing in a uke circle also doesn't require a lot of skill or the ability to read m

Did you know that the simple act of communicating can make a big difference to your store’s bottom line? Communicating effectively with your employees will strengthen key relationships and your business. Committed employees become ambassadors for your store and your relationships with customers. How do you turn less-than-enthusiastic staff into super-committed, customer-service centric team members? By applying the same principles to these “internal customers” as you do to your external customers. Think about all you do to give your customers a positive and memorable retail experi

Key financial strategies from "40 Tips for Music Professionals 40 and Under"—a NAMM U session presented at The NAMM Show 2013. The session was hosted by CJ Averwater (pictured), Cris Behrens and Ryan West of NAMM YP (Young Professionals). Use this as a checklist, and share it with your employees. 1. Take accounting and business 101 courses online, at a college or from books. This will make a big difference in your personal life and business. Knowing what affects your bottom line is crucial when going to your boss or banker to pitch ideas. 2. Use Alan Friedman's inventory managemen

If you own a music retail business, you may well follow a do-it-now philosophy—which is, of course, necessary to keep things running. Still, you also need to think about tomorrow, which means taking action on your retirement and business succession plans. Fortunately, you’ve got some attractive options. For example, you could choose a retirement plan that offers at least two key advantages: potential tax-deferred earnings and a wide array of investment options. Plus, some retirement plans let you make tax-deductible contributions. Retirement Planning In selecting a retirement plan

Key management and operations strategies from "40 Tips for Music Professionals 40 and Under"—a NAMM U session presented at The NAMM Show 2013. The session was hosted by Ryan West (pictured), Cris Behrens and CJ Averwater of NAMM YP (Young Professionals). Use this as a checklist, and share it with your employees. 1. Take advantage of ÜberConference. It's a free conference calling service for up to five people. 2. Use Google Analytics. Whether you're an e-tailer, manufacturer or hosting a retail brochure site, Google Analytics is your friend. Google Analytics has great information a

Key sales and marketing strategies from "40 Tips for Music Professionals 40 and Under"—a NAMM U session presented at The NAMM Show 2013. The session was hosted by Cris Behrens (pictured), CJ Averwater and Ryan West of NAMM YP (Young Professionals). Use this as a checklist, and share it with your employees. 1. Place a mirror in a tryout room and on the sales floor to increase your closing rate. The rule of thumb is if you can get the customer holding the product, he or she is 50-percent more likely to buy it. Well, imagine what will happen to that percentage if they can see themse

Key sales and marketing strategies from "40 Tips for Music Professionals 40 and Under"—a NAMM U session presented at The NAMM Show 2013. The session was hosted by Cris Behrens (pictured), CJ Averwater and Ryan West of NAMM YP (Young Professionals). Use this as a checklist, and share it with your employees. 1. Place a mirror in a tryout room and on the sales floor to increase your closing rate. The rule of thumb is if you can get the customer holding the product, he or she is 50-percent more likely to buy it. Well, imagine what will happen to that percentage if they can see themse

The NAMM Show and Summer NAMM are always fun times to see new products, meet new people and catch up with old friends. But as retailers, we need to make sure we're getting the most out of each show. With all the fun distractions, remember that we're there to work. It’s easy to watch every demo, concert and artist signing, but if you do that, you won't leave your first booth. Now, it may sound as if I’m all work and no play, but the world around us is changing. What we used to do isn’t as effective anymore. Consider the following: Time equals change. The more things around you cha