Loyalty clubs: perhaps no business has become as strongly associated with this marketing concept as the supermarket industry. According to the Food Market Institute, 92 percent of grocery shoppers use loyalty cards every month. With all this loyalty going on, you’d think that grocery shoppers would be as dedicated as Labrador retrievers. Not true – 73 percent of them have no loyalty to their supermarkets, even though they take advantage of “loyalty discounts.” Meanwhile, at Zappos, a billion-dollar online shoe retailer, 75 percent of sales come from repeat customers, thanks to a loyalty strategy that emphasizes special services over price breaks. This contrast provides a valuable lesson for music stores looking to build customer loyalty.
Cases with Other Groups, Individual Manufacturers Still Ongoing…For NAMM, it’s over – almost two years to the day after it started (March 7, 2007). On March 4, the Federal Trade Commission (FTC) closed the books on its case against the music instrument trade organization. The commission judges voted to accept a complaint and consent order in a 4 to 0 vote. The agreement is subject to public comment and analysis for 30 days, and after that it will be permanently closed – at least for NAMM.
Yamaha’s Billy Sheehan Signature Bass, Dunlop Manufacturing Kirk Hammett Signature Wah Pedal, Eastwood’s Joey Leone & Pete Shelley Signature Models, Recording King’s Sonny Osborne Banjo, Jeff Beck’s 1954 Les Paul Reissue, The JSX Amp From Peavey & Joe Satriani, Takamine Debuts Glenn Frey Signature Model, Cordoba’s Donavon Frankenreiter & Gipsy Kings Models, Ibanez Paul Gilbert Signature Reissue, VOX Amplification Expands Its Joe Satriani Guitar Effects Line
The concept of artist and signature series guitars has been increasing in popularity amongst not only major suppliers, but within smaller operations as well. The sheer number of signature series guitars shows that manufactures believe that artist endorsements result in better sales revenues. To get a better handle on the dealers’ perspective, MMR called in the troops. Here are a few thoughts on signature and artist series guitars from MI retailers across the country.
Most guitarists of all ages and ability levels draw inspiration from artists who’ve found success as professional axemen. It’s not surprising, then, that suppliers have found instruments and related gear tied to specific guitar heroes to be both strong sellers and effective tools for advancing a given brand’s profile. “Who better to tell you what works than the guitarists who are in the studio or playing in front of 200,000 people at a time,” notes Justin Norvell of Fender, a major player in the field of signature guitars. It’s a point well-taken: in addition to targeting fans of individual high-profile guitarists, having product officially endorsed by – and often designed in close association with – successful musicians lends credence to the line.