While the entire MI industry has suffered with what many now refer to as the Great Recession (capital G, capital R), the piano market could be considered the recession within the recession. The housing freefall has affected piano sales disproportionately, digital pianos housed in attractive consoles are more appealing than ever, and financing for the dealer and the consumer is increasingly elusive.
Bill Walzak has been on all sides of the Web site debate – as a businessman needing to use the Internet to grow his business, and now as a consultant helping others create sites that work for them. He’s heard about all the roadblocks, the reasons not to move wholeheartedly into what is to him a key component of retailing, and is able to effectively build the case that a great Web site is imperative to success in today’s marketplace.
Social networking sites like MySpace and Facebook are seemingly increasingly used for more than pure social networking. Many MI manufacturers and suppliers are using these forums to connect with musicians, show off products, promote their roster of artists, and more. MMR conducted this exclusive survey and the response was overwhelming. With two-thirds of those surveyed saying they have a MySpace page, and another third saying they will have one soon or eventually, it appears that social networking has been deemed an important tool for those who make and distribute MI products.
MI Retailers Turn to the Internet to Build a Community
Everyone in retailing knows that the number one most-effective way to get new customers is through “word of mouth.” The simple act of one friend telling another, “Man, I got a great guitar at Jack’s Guitar Shack, you gotta go check the place out,” is the gold standard for growing a business.