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Hello everyone,
Welcome to the Global Journey Blog Archive.
Here you can find all the previously added Blogs and Comments. |
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Colin Samuels |
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18 January 2007 |
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Adapt or Die: How Music Companies need to change.
So, are the big music companies in real trouble as the media seem to suggest? In my last blog I touched on HMV's declaration of a decline in Christmas sales and a six month loss of £36.4m and EMI's Profit Warning.
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If we look at the background to HMV's situation we see the problem with the typical HMV shopper profile being that of the typical downloader. So my message to HMV and their ilk is “Adapt”. If you don't evolve to face the new challenges in front of you then you will continue to lose sales.
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| At Global Journey we saw an increase of 20% in the number of Cds we sold in 2006 compared to 2005. We are asked about this literally daily and we have been interviewed by the BBC (Radio and TV), Financial Times, Guardian and yesterday was a discussion on Nick Ferrari's Radio show on LBC Radio |
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Global Journey appeared on BBC Television. |
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Colin Samuels presenting our new titles to a BBC reporter. |
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| So what's our secret? In fact there are many reasons for our success and without giving too much away to the competition I can tell you that we spend a considerable amount of time devoted to asking questions: What do our customers like? What will they want next? How can we improve our products? How is the market; ie. our customers needs; changing? |
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We think of our Cds as concepts, rather than just another music album. Why will our customer buy the album? Is it for relaxation or to create ambience, perhaps a gift? Once we know the answers we focus on the product. We also consider how we can make the album more than just another Cd on the shelf. We look at graphics, packaging and even the artwork on the CD (“onbody art”). We spend time creating a finished product that is more than the sum of its' parts. Our booklets have up to 12 pages of information and in the case of our Lifestyle albums feature information from experts from the relevant fields. Our Dinner Party series contains music to create ambience for your event and also features relevant recipes.
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But enough of the marketing, the point is that if you want to retail music then you need to think about your target customers and make sure that you are giving them what they want. If you can't do that because your target is too busy downloading then you need to do more than just evolve your product selection, you need to adapt and find new targets.
Next Blog: Where do you buy your Cds? |
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Global Journey UK, Unit 3, Boston Court, Salford Quays, Manchester M50 2GN England Tel: 0800 856-0234
Global Journey Music USA, P.O. Box 1132, Puunene, (Maui) HI 96784 Tel: 888.899.9404 Fax: 808.879.0256
Global Sounds, 6N202 Prairie Valley Dr., St. Charles, IL. 60175 Tel: 866 862 0016
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Co. Registration No. 03744435 VAT Reg. No. GB732 3719 41
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