In its second-largest acquisition, Amazon buys the company for $970 million.
E-retailers who don’t change their colors once in a while won’t last. That’s the theory Tim Reiland, chairman and CEO for Musicnotes.com, had when he purchased a guitar tablature web site and started giving music away, he’ll tell attendees at IRCE 2008.
The Internet is a chameleon, and e-retailers who don’t change their colors once in a while won’t last. At least, that’s the theory Tim Reiland, chairman and CEO of Musicnotes.com, had when he purchased a guitar tablature web site and started giving music away, he’ll tell attendees at IRCE 2008. Yes, giving.
The new site, mxtabs.net, is an experiment and an add-on to Musicnotes.com’s main revenue model-selling sheet music and guitar tablature via the Internet. Reiland, who was having difficulty securing rights to some of the music he wanted to sell online, thought there may be money in the popular hobby of collecting free guitar tablature online. So, he found a high-traffic guitar site owned by a college student, bought it and collected some advertisers. He now has a new revenue stream.
Reiland will discuss his strategy in the IRCE June 11 session “My problem and how I solved it.” For other e-retailers, building a better business and a bigger bottom line is simply a matter of stepping back, taking a deep breath and refocusing. That’s not always an easy task, especially when orders are rolling in and business is steady. Musicnotes is No. 487 in the Internet Retailer Top 500 Guide.
Multi-channel retailer Edwin Watts Golf realized just how much taking the time to stop and think about the consumer experience can pay off when the company re-launched its already profitable e-commerce site. By putting in the hours to develop a specific, well-planned strategy and build the right technology, the company created a second site that was a huge success. John Watts, vice president of mail order and Internet sales, will address his strategy during the June 11 IRCE session “Back to square one: Refocusing and staring over.”
It may not be broke, but it can be better is fast becoming a motto for e-retailers like Musicnotes.com and Edwin Watts Golf. These two businesses along with many others will share their experiences in IRCE Track F, Web Technology Designed to Attract, Influence and Sell. From the best way to upgrade an e-commerce site, to tips for a web site re-launch-this is the track where Internet trends and technology meet the bottom line.