OPINION WAYNE BLANCHARD


Blanchard feels that there is a lack of brand understanding in the industry, particularly in retail


Can we quantify the value of a brand? I know the value of having an inventory of strongly branded products. Better brands and better service enabled me to up sales 50 per cent in one year, with a 75 per cent increase in the off-season. A brand serves as a roadmap. The better it is known, the more people will be attracted to it and be willing to pay the price.


And the brand/price issue? Why does a Vivienne Westwood shirt sell for hundreds of pounds, yet a hand hammered bronze cymbal suffers from dwindling value? The fashion industry understands the power of branding and uses it to create, promote and sell. To a large degree the music industry does not.


The drum trade is crazy over artist relations and endorsements. Do you see this as a necessary part of the business? It can be, but there are too many endorsements and it’s become a circus with more clowns than tigers and it has lost its bite. Ringo playing Ludwig in the Beatles had influence, but today even some of the biggest names can’t shift gear.


All right, so new products are something of a bane, pricing is a problem and endorsers have questionable potency – what else is there? Creativity and relevance. We’re targeting a creative audience and better design and communications creativity would increase the interest, energy and appeal of this industry.


Do you feel dealers are avoiding their role? Dealers simply waiting for customers to come in and purchase product have a problem.


So, what should they do? Know the market and what it will accept in terms of product and price. Some dealers create advantage by communicating a unique positioning for their shop.


Is there a common fault behind the problems? Too many employees are hired on the basis of them being a musician, not on their ability to sell.


“ 42 miPRO


I suggest looking at how other industries create value and attract customers. There’s a lot one can learn from


a day in Knightbridge. Wayne Blanchard


What are your thoughts on pricing? In many cases I see discount pricing as an excuse to cover up a variety of ills including the questionable ability to market and sell to people on the value of the product.


You’ll likely get hecklers on that one. Why? The industry created the price war that now


JANUARY 2011


plagues its very existence by plastering knock- down prices on everything over 20 quid and demolishing brand values in the process. But dealers do have a lot of challenges these


days, so they need to be strategic at every level and ensure staff are capable of selling.


But how do you convince customers on the pricing issue? Take the price out of the discussion if you can. That’s where the power of a brand and the value of the product and purchasing experience come into play.


How important is ‘brand’? Brand is the single most important retail weapon, though it is increasingly challenged by availability and price.


Does the industry understand branding? Marshall does. Blackstar does. Vox does. The fact that these three UK amplifier brands are so strongly differentiated and saleable suggests some do. But many dealers don’t and they become the Achilles heel in the value chain.


So, branding in a nutshell is…? Branding is what a company does in order to create an image in the market. When people start to form opinions and perceptions, then one has a brand. The more people who see a company and its product the same way, the stronger the brand and greater its value. In his book The Brand Gap, Marty Neumeier delivers the perfect summation: ‘Brand is not what you say it is. It is what they say it is.’


It always comes back to creativity with you, doesn’t it? A music store I visited recently was a boring mess. Then I went into an Apple showcase store. It was immaculate – with surprisingly little gear – but all highlighted as being important. This place smacked of the creativity that defines the Apple brand and engages its audience.


You introduced many branding concepts to the music industry. But only to brand and market for the sake of the sale. That’s what it’s all about: creating impressions, desires, sales and happiness.


So, what does the UK music industry need? Vision and leadership. In the High Street clothing industry Sir Phillip Green or Sir Stuart Rose are key influencers. These entrepreneurs define and influence success in their industry. Who is doing that for the UK music retail business right now?


Do you see long-term lessons resulting from this economic slowdown? Yes for those who develop their ability to do business, and no for those who assume business will pick up when the economy does.


Any parting shots? UK music retail has tremendous potential, but it would benefit from focusing on how it could become more effective and profitable. I suggest looking at how other industries create value and attract customers. There’s a lot one can learn from a day in Knightsbridge or walking the aisles of Waitrose or Sainsburys.


We’d like to hear you thoughts on these matters. Please email any comments to mipro@intentmedia.co.uk


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