According to recent reports, the sales of digital pianos have been steadily rising, with figures showing sales of 188.5 thousand units in 2020, an upward increase from the previous 174,000 units sold in 2019. This translates to approximately 8% growth, showing a promising future for the music industry. With this in mind, music shops can still do a lot more to attract customers. Let’s look at a few tips to use for accelerated growth.
Prioritize Your In-Store Customer Experience
Experiences matter more than you think, with excellent in-store interactions allowing your customers to benefit from a sense of belonging and community. This factor will especially prove helpful in setting yourself apart from the approximately 28 million other small businesses in the country, helping you attract a loyal customer base. But how do you improve your in-store customer experience? Personalization will be your solution. Allow your geek rock lovers to interact with instruments that they may be interested in without pressuring them to make a purchase. This provides an immersive and tangible experience, allowing them to feel at home in your store. In addition to this, offer help wherever you can without being an overbearing salesperson.
Improve Your Omnichannel Experience
Technology has allowed businesses to transform their retail experience, with more enterprises utilizing multiple online options for their purchases. This will help you drive more customer engagement for increased overall sales. If you want to get the most out of this, consider diversifying your supply chains for a seamless transition between your in-store and web purchases. A good start would be prioritizing mobile purchase integration. This could mean increasing your visibility on the web, with targeted advertisements helping with this and creating content with your desired target audience in mind. This will allow your customers to access your store from any region globally, increasing your purchase options in the long run for accelerated sales.
Offer Your Customers More Than Products
While increased sales will be your priority, your customers will likely be drawn to stores offering more than products. Customers also want a solution for their needs, which could mean solving a problem by providing a safe space for their learning needs. With most musical instruments ending up in storage in just the first year of purchase, a training center to hone guitar skills might be the solution to pulling in more clients.
Consider hiring teachers to help geek artists learn the basics of the products they are interested in. This allows them to have a solid foundation for their skills, with advanced classes enabling them to expand their skills even further. In addition to this, you could also offer insights and help in various gaps in the market, whether it is helping learners identify the most effective instruments for beginners or offering easy-to-play options for customers who may not have a solid financial standing. With 29% of businesses reporting failed business operations due to a shortage of capital, this solution may be just what you need to help you stay afloat during unprecedented times.
Understand Your Customer’s Needs
Music icons are significant drivers of the music industry, with music geek enthusiasts driven by various changes in the entertainment sector. Business owners need to understand these cultural trends, with younger audiences often influenced by top artists in the industry. This will require you to have your social listening skills tuned in to each customer’s needs. Social media platforms can, for instance, help guide you towards changes in preferences, such as guitar models used by various icons. An upgrade of products could also be the change your target audience needs, a factor that allowed the Fender brand to get ahead of other competitors.
Whether you are a new music store in the market or an established enterprise struggling to get more traffic to your venture, the above solutions prove that growth is indeed possible. Identify where your customers’ interests lie, with ongoing trends helping you get better insights. Additionally, make it a point to prioritize both in-store and retail experiences. With this, you are assured of improved growth, helping you achieve overall productivity and attract loyal customers for the long run.