Thursday, February 9, 2012

My target market:

I own a studio in Central Ohio. In order to make a living doing this, I need to get a larger share of the audio business in Central Ohio. Let's examine what that means, in terms of music clients. There are other types of audio jobs I can do that aren't music based (commercials, voice overs, ect), but my main focus is on music.

So we look at the fact that I don't have a very large market share. Based on my price point, I look at the Central Ohio studio market, and I can see who my direct competitors are. I'm not naming names, but let's just say that I have two in mind. One has plenty of name recognition in Columbus within the rock scene, so that's gonna be a tougher nut to crack. Again, not naming names.

The other is not as well known, but focuses on mobility (which was where I focused before the Columbus market implied that mobility = unprofessionally, but maybe I should re-focus on mobility…) and is dealing with a different genre than I typically deal with. So cracking that nut will be more difficult too, because I'd have to emphasize the mobility of my operation, the similar price point, and the quality of my work. I'd also have to tap into a wider genre base than I'm currently known in.

Business is business, and there's nothing wrong with friendly competition. I'm all about staying friendly (notice I'm not bashing anyone else's product or naming names here), but I'm also a competitor. In business, you have to be. The problem for me is that, if I want to get a larger market-share, I'll be taking some business away from my competitors. Columbus isn't Nashville or Denver, it's got some great music but the market is saturated with studios. This means that, were I to come in and attain my 5 year goal of making Skyline Sound Studios one of the biggest studios in Columbus, I'll be taking business away from others. There's not much room for a newcomer unless someone else leaves the table. This is a business environment, and in order for me to succeed, I have to get more business than those who are competing with me for the same clients.

So in the coming weeks, you're going to see some refining of my marketing campaigns. You're going to see me out at venues more, and you're going to see me pushing the studio like you've never seen it pushed before. I've still got to figure out how, but I've got two direct competitors in my sights.

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