Define the problem:
Many people want to explore music by trying to pick up an instrument and learning. However, some do not know which instrument they should start with, or even if they’ll enjoy playing. If they don’t enjoy it, a long-term commitment can scare them away. Moreover, the burden of paying a large sum to purchase an instrument can rob children the chance to pickup a hobby that can provide a lifetime of enjoyment. Others still may not have the space required to learn the instrument of their dreams (piano, cello, drum set, etc).
Our group’s mission is to find a “blue ocean” territory in the music instruction and rental market in the Dallas, Texas area.
Consider many options:
A) Allow customers to try instruments in store free of charge or offer a one week trial of subscription services
B) Monthly subscription with multiple price points:
Price A would include: rent-to-own
Price B would include: rental, online services, tutor
Price C would include: rental, online services, tutor, buyback program,
Price D would include: rental, online services, tutor, buyback program, live lessons
C) Physical location pricing vs. Online instruction online vs. Hybrid
D) Allow musicians to come and go as they please; collaborate; offer them networks within the membership community.
E) Rewards could be given to musicians for accomplishing tasks. Benchmarking musical successes, whether it is learning to read sheet music, or collaborating with a friend/peer could help less motivated learners stay on track.
Refine selected direction:
Musicians need as much creative freedom as possible.
Collaboration will help in online learning and it could add to the fun of in-person visits, too. Much like a gym membership, it is easier to stick with it if you have a partner (i.e. UMKC’s cohort system for the new MBA program)
Pick the winner:
I would love to include elements from each option in Anna’s business model, but I think the strongest idea is to provide different tiers of membership based on experience/willingness to learn/disposable income.
SECRET PHRASE TOP INNOVATORS USE
How might we improve online music instruction?
Recitals with multiple musicians
Build a sense of community
Especially w/ social media and the online interface
Live chat rooms
Make practicing fun by creating “achievements”
Much like XBOX Live or Dave & Busters, kids should have some sort of prize for completing a set amount of achievements in a given time period
Or Completely re-imagine how to attract new customers?
Instead of targeting schools, find new, untapped markets
Elderly, poverty stricken, special needs, etc.
Offer referral rewards to current customers
Do not pay for advertising: instead focus on social media & word of mouth
Or a new way to accomplish a higher customer engagement and retention rate?
Individualized programs tailored to customer need
Offer feedback for how to improve the program
LISTEN to the feedback and implement changes!