Important Announcement #24
DATE: December 15, 2004
TO: Industry Colleagues And Friends
FROM: Stiernberg Consulting
SUBJECT: The Convergence Calendar, A Look Ahead, and More
Greetings and Happy Holidays! We wish you, your family, and your company a joyous holiday season and a prosperous year in 2005.
A Look Ahead: Will 2005 Be a Better Year for Our Industry?
A lot has happened here since Important Announcement #23 ((January 2004). Here is a quick look at the contents of this newsletter:
- Trends to watch in 2005
- How to get your copy of our annual industry event calendar
- News from Stiernberg Consulting
- Limited edition mouse pad calendar inserts for 2005
- News From You
- Faxback Survey and Grand Prize Drawing
Trends To Watch In 2005
Business indicators point to a good year in 2005 for our industry. While social, political, and economic issues still loom as threats to business in general, the converging entertainment technology, music products, and electronic systems industries shows signs of renewed vigor in the year ahead. Here are three key trends to watch:
- Continued conservatism in terms of growth expectations. Industry sales and profits in 2004 were better than those of 2002-03 for most industry segments. While conditions continue to gradually improve, the growth outlook in our industry will remain conservative for the foreseeable future.
- Renewed focus on product and market development. In 2003-04, the primary focus was on selling what was in stock. We are now noticing an upturn in R&D, promotion, staffing, and infrastructure investment at all levels of the industry.
- Make it measurable (ROI etc.). A natural result of conservatism (#1 above) and renewed investment (#2 above) is an unprecedented focus on success metrics. Progressive companies in our industry are making their efforts measurable in both financial (sales, profits, ROI, etc.) and non-financial (market share, employee retention, time to market, etc.) parameters.
The Convergence Calendar for 2005
The converging entertainment technology, music products, and electronic systems industries host an ever-increasing number of trade shows and conferences each year. We keep track of over 100 of these events in a custom database that is updated regularly. In response to your requests, we post the Convergence Calendar on our website. It is searchable and downloadable. Here's the URL:
http://www.stiernberg.com/events.html
You can visit as often as you like, suggest additional events, and even download the full calendar in PDF form. Please tell us how you use the calendar, and let us know if we've missed any key national or international events. Note: If you would like a hard copy of the calendar (printout of the PDF) just let us know and we'll mail one.
News From Stiernberg Consulting
- Jeanne Stiernberg is the principal consultant and analyst for the NSCA Market Intelligence Briefings Series, now in its fourth year. We are privileged to collaborate with NSCA on the quarterly series that focuses on business issues facing the electronic systems contracting industry.
- John Stiernberg was the keynote speaker at several industry events in 2004, including the annual International Business Music Association conference in Scottsdale, AZ on 10/29/04 and two regional dealer events co-sponsored by Electrograph and NSCA. The Electrograph series continues into 2005, with the next event scheduled for 2/9/05 in Long Beach CA.
- Jeanne Stiernberg presented business seminars focusing on market intelligence and planning for growth at the NSCA Expo, Infocomm 04, and CEDIA Expo in 2004. She will team with John Stiernberg again in 2005, with seminars and workshops scheduled for the NAMM show in January and NSCA Expo in March among others. Watch the Convergence Calendar for future dates and details.
- John Stiernberg's book Succeeding in Music: A Business Handbook for Performers, Songwriters, Agents, Managers, and Promoters (published in 2002 by Backbeat Books) now has eight five-star reviews on amazon.com and continues to sell steadily. John presented Business Chops seminars in six West Coast cities in May 2004, and continues to write a series of articles based on the book. Visit your bookstore or www.succeedinginmusic.net for full details.
- John Stiernberg was re-elected to the board of directors of the International Bluegrass Music Association (the other IBMA) for a three-year term. He serves on the marketing committee and is involved in helping develop new audiences for bluegrass music worldwide.
Do You Have a Stiernberg Consulting Mouse Pad?
A few years ago we sent a nifty mouse pad that included a calendar insert as a holiday gift. We recently secured a limited supply of 2005 replacement calendar inserts. If you are still using your mouse pad and would like a new calendar, please let us know via the enclosed faxback survey or via e-mail. We'll send it out to you promptly with our compliments.
News From You?
We enjoy hearing from you and want to stay abreast of your activities. The enclosed faxback survey is a great way to let us know about what you are doing, including key projects, job changes, new contact information, or other news. Replying also enters you in the. . .
Grand Prize Drawing
For those new to this series, we offer a chance to win a grand prize just for staying in touch with us via mail (e-mail or post) or fax. Here's how to enter: Returning the attached faxback survey enters you in the special prize drawing. The prize is a combination of John Stiernberg's book Succeeding In Music, plus a $50 American Express Gift Cheque. On Tuesday, January 18, 2005, the winning survey will be drawn at random from the ones received by either fax or mail. Sound like fun? Please respond today!
Visit Our Website
We continue to add features and upgrade the look of our website. Please visit www.stiernberg.com for access to all prior newsletters plus lots of information on Stiernberg Consulting. Looking forward to hearing from you!