WORCESTER, MA, MAY 8, 2024 -- Blustream.io, the leader in Product Ownership AI, has announced significant growth within the School, Band, and Orchestra rentals industry. This includes doubling customers YTD, a series of successful customer stories, and a partnership with a dominant point-of-sale (POS) software company for music retailers, illustrating the transformative power of Blustream’s technology.
“Blustream's rapid growth in the School, Band, and Orchestra rental industry underscores our commitment to helping retailers connect with their customers on a deeper level,” said Ken Rapp, CEO and co-founder of Blustream. “Our Product Ownership AI technology is designed to help companies understand, engage, and personalize a lifetime of exceptional experiences with their customers. And we're thrilled to be providing such a positive business impact including much lower returns and higher post-sale revenues.”
Customer Metrics
Blustream has achieved significant growth in the School, Band, and Orchestra rental industry, leading companies to a notable 33%+ reduction in rental returns and 48% conversion rate on personalized purchase recommendations over the past year. This growth has been driven by the company's innovative approach to personalized customer engagement, offering tailored messages that guide instrument renters through proper care, maintenance, and educational tips. Blustream's AI-powered technology has proven to be a game-changer for music retailers, resulting in incredible return reduction and increased revenue. In addition, Blustream has seen a 100% increase in new customers over the past quarter. “We’re truly proud of the impact we’re having on young musical souls all over the country. Knowing we’re helping kids develop a lifelong passion is very humbling,” said Tyler Craig, CRO of Blustream.
Bertrand's Music Success with Blustream's Product Ownership AI
Blustream continues to deepen relationships with top musical instrument retailers such as Bertrand’s Music who utilized Blustream’s Product Ownership AI technology to send AI-powered, personalized messages to each renter, providing proper maintenance and care tips, usage guidance, and educational support throughout the life of the rental, as explained in Music Inc Magazine’s May 2024 Issue. These messages were based on predictive player behaviors and usage data.
"We saw an immediate return on investment with Blustream, and expect a 10x return this year,” said Jeff Bertrand, Owner of Bertrand's Music. “The power of Blustream’s Product Ownership AI was felt within three months, with both significant increases in revenue and increased satisfaction from our renters.”
Blustream's technology led to a 15% reduction in rental returns in just one semester. This return reduction has driven a revenue boost of more than $60,000 from retained renters alone. Moreover, Bertrand's saw a 48% conversion rate on personalized purchase recommendations sent at precisely the right time, leading to significant additional revenue from musical accessories.
Power of Partnerships: Blustream and Tri-Tech
Blustream's partnership with Tri-Tech's AIM music POS software provides music retailers with the tools to seamlessly integrate Blustream's technology. This partnership allows retailers to engage customers with automated, personalized messages based on unique instrument needs, increasing customer lifetime value and driving growth. Given the global interest in musical instruments, driven by grade-school students and set to reach almost $7 billion in the next five years, this partnership is set to revolutionize the way music retailers engage with their customers.
As the School, Band, and Orchestra rental industry continues to evolve, Blustream remains at the forefront, enabling retailers to build stronger connections with their customers and drive sustainable growth.
To experience the power of Blustream’s product ownership AI technology, visit: https://blustream.io/
ABOUT BLUSTREAM
Blustream is a product ownership AI company. We believe every company should deliver exceptional product experiences to their consumers. Our intelligent, adaptive messaging platform is capable of sending personalized, automated messages to product owners at exactly the right time. Consumer product and services companies across industries turn to Blustream to build innovative product experiences that drive revenue, retention and LTV. Give your products a voice: https://www.blustream.io/
Media Contact:
Caroline Hoffer
caroline@york.ie