We all witnessed the imminent demise of the compact disc several years back. The sudden culmination of sharing on the web and Mr. Jobs’ invention of the iPod made it nearly impossible for a purposeless and inconvenient platform such as a playable circular disc to survive.
But did the entire music industry have to die with the CD?
While fear was striking the hearts of music executives around the world, the smart musicians acknowledged this unprecedented shift in the marketplace. They packed up their vans, hit the road, and started networking with as many current and potential fans as possible.
It was at that point where independent music became a “real business“ – complete with networking, marketing, and face-to-face sales.
Still to this day, the music models are evolving, yet the core of the market thrives off of the same exact principles – RELATIONSHIPS.
But if bands and artists are small businesses to the music industry, then what are small businesses to small business? You’ll most certainly find the answer obvious.
They’re a collection of PEOPLE.
People like, trust, and buy from other people. Customers don’t like brands – they like what brands do for them.
But when a person, or extension of Small Business XYZ, goes above and beyond to establish a relationship with a customer, they infinitely win.
What does this mean to all of the other categorical markets that exist? Nothing. It’s still the same core principles as before.
Big brands are becoming the large record labels. How will they combat the small businesses that gear up their social media efforts, networking tactics, and digital strategies on an intimate local level?
We have a fun decade ahead of us.