“Are you in the records industry or the music business?”
Maybe it seems like a banal question, because the two at face value sound like one and the same.
But they aren’t.
The latter is about the value proposition. The former is about the mode of delivery.
The key thing to consider, when you’re looking to deliver value to customers, is your key value proposition. The music so to say.
You then deliver that through whatever channel is best suited – for your customers. That means that you never ever get stuck in an insistence that you deliver it in a certain way, take it or leave it.
In other words: You don’t insist on delivering a record, if what the customer wants is the single delivered through a different channel, medium or packaging. You just do whatever the customer says and what fits into the customers habits and lifestyle. Period.
Sadly, a lot of legacy companies insist on being in the records industry rather than in the music business. They do so at their own peril. And they are – and will be – paying a price for it.
Don’t be like that.