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Secrets to Success
Deborah Cole Micek
and John-Paul Micek
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What you can learn from an improv band
THE music industry's traditional model has been falling apart for several years now with revenues sliding downward.
So, with most bands crying the blues -- how did a jazzy improv band from Boulder, Colorado pull in $14.5 million in one year?
What you learn from String Cheese Incident's success can help you blend online and off-line channels in your small business for incredible growth.
They did it through a solid click-and-mortar approach: driving off-line consumers online to make purchases, and allowing online consumers to become fans of the band without ever seeing them in person.
The band has been touring nonstop for more than a decade. The devoted following they've developed has contributed to this outstanding annual cash flow. But, the money only really started rolling in when they implemented their click-and-mortar growth strategy.
Anyone who has ever been to a concert knows that the big bucks lie in the merchandise and CDs for sale at the venue. But how many concertgoers don't have the cash on hand, or the desire to fight the crowd to wait in line? By driving their off-line fans to their Web site, String Cheese Incident racked up some pretty impressive numbers.
CD sales rack up $2.9 million a year; merchandising and ticket sales another $2.9 million per year. That's $5.8 million that most bands their size will never see. And String Cheese Incident was not content with the traditional profit centers associated with bands either. They took click-and-mortar growth to a whole new level.
They saw an unmet need in the marketplace and set up a travel agency with a partner that helps fans plan trips to their concerts and those of 20 other bands. That little "side business" is good for another $1.45 million a year -- all done online!
If a band whose fans thrive on live-experience concerts can use the click-and-mortar approach to create a 725 percent increase in gross revenues, what could you do with your business?
Coaching Corner:
» How could you expand, the benefits that your off-line clients experience by bringing them online?
» How could you make your clients' lives easier through online ordering, scheduling, or organization?
>>Primarily off-line right now ... what products/services could you offer online that would complement your off-line products/services?
» Primarily online right now ... what physical product/service could you offer your clients (either yourself or through a strategic partner) that would add incredible value and lock your clients in for life?
When you take the time to develop a solid click-and-mortar growth strategy for your business, you'll be able to dominate your market.
John-Paul Micek is the lead business coach at RPM Success Group Inc. Reach him at
JPM@RPMsuccess.com or toll-free at (888) 334-8151.
Deborah Cole Micek, chief executive officer of RPM Success Group, is a business success coach and life strategist. Reach her at
DCM@RPMsuccess.com or toll-free at (888) 334-8151.