The music industry has stayed strong even after significant changes brought upon by the internet age. The plummeting sales of records seemed to be an omen, but it was merely a prelude to a paradigm shift. That has transformed the industry into what it is today. Whereas before people went out to buy full albums, these days they have the option to buy individual songs.
Digital content delivery is now the de facto choice for many listeners. This is all thanks to smartphones, which have become so powerful they can handle multimedia content without breaking a sweat. Its prevalence is undeniable, and this has led to people purchasing the songs right on the palm of their hands.
Another side of the music industry is related to the creation tools. These are the instruments that artists use to make their catchy and infectious songs. If you want to get into this business, here are the markets or types of customers that you should be targeting.
One of your targets, of course, would-be musicians. You might be used to those you only see the biggest headline artists, but there are many out there that also vie for the audience’s attention. There are those who are signed to major labels, and then there are those who produce their work independently.
Professional musicians do not have to be those who are selling their records. They can also be pure performers. There are some buskers on the streets that have seen fame by going viral on the internet. You also have singers or bands that do their work on birthdays, weddings, and corporate events. So if you are looking to sell musical instruments or equipment, you will not have a shortage of target customers.
Some kids get inspired to make music by their favorite artists. They would then turn to their parents and ask how they can become as successful as their idols. It is up to them if they want to start with the classical stuff and have piano or violin lessons, or they can enroll in courses that teach more modern instruments like the electric guitar. Either way, having the right musical foundation is a good starting point for the kids.
Music schools or learning centers are good sources of potential customers. If you want to get those leads, try partnering or making a deal with the people who run them.
Not all people who buy instruments are musicians. Some can be hobbyists who appreciate the build quality or the technology behind a musical instrument. They can also be people who are avid fans of certain artists that they even know what specific pieces of hardware they are using. So even if they do not know how to play drums, they might go out and buy the same brand of sticks that their favorite drummer is using.
Some even go as far as getting the whole set of gear. So if the person is a fan of a popular guitarist, they will not just get the guitars, but they also will get the specific picks, amplifiers, effects pedals, and all the other items that will complete the ensemble.
Hobbyists are often discerning people. They want to make sure that the products they buy are authentic and have high quality. They are willing to pay big money as long as they satisfy their cravings for memorabilia.
Creators are no longer limited to the TV space. The internet is now rife with personalities or influencers that made names for themselves by creating content for the online crowd. These can be people who make content for websites that stream video. One popular category is people making cover versions of popular or classic songs. But there are many other types of content that involve sound or music production.
Channels that show comedy skits, documentaries, reviews, and news also need some kind of musical content. If they do not want to have any legal concerns or issues, they are better off making their own music.
There are big and small players in every industry, and dealing with music is no exception. There are established brands out there that make some of the most beautiful instruments, accessories, and other gadgets, but they also tend to be expensive. If you are just a new player, it would be hard to compete with that. That said, there are many other people out there that you can target if you want to establish a presence in the business of selling music hardware. That should give you hope that someday you will also become successful.