02122016Fri
Last updateTue, 09 Feb 2016 8pm
Jewelers for Children announces 2016 Rings of Strength Tour

Jewelers for Children announces 2016 Rings of Strength Tour

Bike, run or walk to help children in need

Jewelers...

South Carolina jeweler re-opens after second theft

South Carolina jeweler re-opens after second theft

“But those who suffer he delivers in their sufferi...

Darling Imports helps you keep up with the trends

Darling Imports helps you keep up with the trends

Every year consumers concern themselves with fashi...

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10 Diamond Encrusted Items

10 Diamond Encrusted Items

Here are 10 items that probably don’t need diamonds. Also included: diamond-like encrusted objects, because they too can be shiny and cost an absurd amount of money, apparently.

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Industry Events

Midwest Jewelers Conference & Show - A new show with a history

Midwest Jewelers Conference & Show - A new show with a history

 

The 2016 Midwest Jewelers Conference & Show (MJC) is the “new” Jewelers Educational Conference, a regional jewelry conference and show that has been held biannually in suburban Kansas City, Missouri for 16 years. The name change, along with a mo...

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On The Move

Texas Institute of Jewelry Technology awards outstanding students

Texas Institute of Jewelry Technology awards outstanding students

An awards ceremony was held for students attending the Texas Institute of Jewelry Technology (TIJT) at Paris Junior College at the end of the fall semester.

Winners of a student design contest were: Jonathan Martin in CAD/CAM, Tony Henderson in Wax Ca...

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What's New

ASHI Diamonds launches Bridal 2016 marketing program

ASHI Diamonds launches Bridal 2016 marketing program

(NEW YORK) - ASHI Diamonds is excited to unveil its New 2016 Bridal Book - “The Perfect ONE for Her.” Every bride experiences the trials and tribulations of finding the perfect bridal ring. In showcasing proven evergreen designs as well as the latest ...

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Featured Articles

Esperanza Diamond Tour starts in Arkansas

Esperanza Diamond Tour starts in Arkansas

Hailed as most valuable diamond ever found in U.S.

There are events that happen with such incredible timing and good fortune it almost seems like divine intervention is at work. Such is the case with the 8.52-carat Esperanza Diamond rough. From its se...

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Latest News

10 Diamond Encrusted Items

2 DAYS AGO
10 Diamond Encrusted Items

Here are 10 items that probably don’t need diamonds. Also included: diamond-like encrusted objects, because they too can be shiny and cost an absurd amount of money, apparently.

Readmore

Teenager gets to keep $20,000 gold bar found in German lake

2 DAYS AGO
Teenager gets to keep $20,000 gold bar found in German lake

Gold prices up 5% since start of year

Swimming in an Alpine lake on a warm August day has many allures, but for a German teenager it fortuitously became the best investment decision in her young life.

The teenage girl from Germany, who remains anonymous, last summer found a gold bar at the bottom of t...

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Jewelers for Children announces 2016 Rings of Strength Tour

11 DAYS AGO
Jewelers for Children announces 2016 Rings of Strength Tour

Bike, run or walk to help children in need

Jewelers for Children (JFC) will hold the fourth installment of the very popular Rings of Strength on Thursday, June 2 in Las Vegas. Start time will be at 5:30 a.m. outside the tour bus entrance at the Mandalay Bay Resort Casino. Participants will be able to...

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Midwest Jewelers Conference & Show - A new show with a history

11 DAYS AGO
Midwest Jewelers Conference & Show - A new show with a history

 

The 2016 Midwest Jewelers Conference & Show (MJC) is the “new” Jewelers Educational Conference, a regional jewelry conference and show that has been held biannually in suburban Kansas City, Missouri for 16 years. The name change, along with a move to Kansas City’s downtown Power & Light Ent...

Readmore

Texas Institute of Jewelry Technology awards outstanding students

11 DAYS AGO
Texas Institute of Jewelry Technology awards outstanding students

An awards ceremony was held for students attending the Texas Institute of Jewelry Technology (TIJT) at Paris Junior College at the end of the fall semester.

Winners of a student design contest were: Jonathan Martin in CAD/CAM, Tony Henderson in Wax Carving and Andrew Ferguson in Fabrication and Desig...

Readmore

Industry veteran Michael Haider joins Taché USA as VP of Sales

16 DAYS AGO
Industry veteran Michael Haider joins Taché USA as VP of Sales

(NEW YORK) – Taché USA, a leading manufacturer of fine diamond jewelry, from bridal to fashion, is pleased to announce that industry veteran Michael Haider has joined the company as Vice President of Sales.

Michael will have the responsibility of working with existing customers as well as developing n...

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ASHI Diamonds launches Bridal 2016 marketing program

2 DAYS AGO
ASHI Diamonds launches Bridal 2016 marketing program

(NEW YORK) - ASHI Diamonds is excited to unveil its New 2016 Bridal Book - “The Perfect ONE for Her.” Every bride experiences the trials and tribulations of finding the perfect bridal ring. In showcasing proven evergreen designs as well as the latest trends to hit the bridal market, ASHI’s Bridal lin...

Readmore

Jewelry Website Designers rolls out exciting new website

11 DAYS AGO
Jewelry Website Designers rolls out exciting new website

Jewelry Website Designers (JWD), a leading designer of websites for the jewelry industry, has announced the launch of a completely new website ( www.jewelrywebsitedesigners.com ) for 2016 that includes more intuitive navigation, and a line up of valuable add-on services enabling independent jewelers t...

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Sales Growth Expert A recession is a terrible thing to waste - and a very good time to sell jewelry for high profits

There are two good times to take advantage of your competition:
  1. When business is good. It is easier to make a good time better than a bad time good.
  2. During a recession is a great time to increase sales because your competition is cutting back their marketing. But the trick is to increase your marketing while decreasing your marketing costs.

In the 80s, you know when the last bad recession hit the United States, all my jewelry competitors were walking around wringing their hands asking each other when it would end. Most everyone. I was among the aggressive that stopped reading the paper and listening to the experts about how bad things were. I was among the ones who did not react to the market conditions. I acted. And I acted very, very aggressively.

A few of my aggressive actions in a recession:

  • I went to my suppliers and asked for and received much lower pricing and longer dating to pay. When the market is slow their warehouses fill up. They are willing to sacrifice price to empty them.
  • Although I cut my media advertising back, I convinced the media that it was in their best interest to lower the prices they charged me so I would do some advertising when many of their other customers, my competition, were stopping their marketing.
  • I decided marketing directly to my prospects was a good way to go and made deals with my printer to lower my cost on printed marketing materials. Although I could not get the post office to give me a discount on stamps, I still found direct marketing using postal mail along with flyers was a very economical and successful way to reach my customers and prospects.
  • When my employees were not busy I had them go door to door and hand deliver our advertising/promotional materials. But not for long, because as we became more and more aggressive in contacting our customers and our competition's customers (our prospects) our sales grew and grew.
  • I used the Magic Words - "WHO DO YOU KNOW?" Every customer on your customer list, every customer you sell to, knows someone who needs or wants the products and services you sell. All you have to do is ask them, "Who do you know that also needs or wants the products and services I sell?" It works, not all the time, but it works enough to help you survive and prosper in a recession.
  • I sent my employees to places where I knew people talked about their problems, needs and wants. Local bars. When my staff heard someone talking about their problems that one of the products/services we sold would solve, they got their names and telephone numbers and talked to them about how we could solve their problem. Then a follow up call was made the next day. Many of these contacts turned into sales.

There are still people out there buying your products and services. Not as many, but there are a lot of them. If they are not buying from you, they are buying from your competition. All you have to do is take those customers away from your competition.

First you must stop the insanity - "Doing the same things over and over again and expecting different results." Your market has changed, you must change the way you market and sell.

You must become more aggressive. More aggressive in your marketing and selling techniques. More aggressive today than you were yesterday. And more aggressive tomorrow than you were today. You must be more aggressive than your competition in contacting your customers and theirs.

Remember the old saying, "To increase demand for your products and services, you must increase the offer."

In the Houston Astrodome 100 thousand salespeople were lined up against the west wall. Directly across the dome on the east wall were lined up 100 thousand customers. Then, every ten seconds, they walked toward each other until they were half the previous distance apart. A mathematician, a physicist, and an business professional were asked, "When will the salespeople and the customers meet?"

The mathematician said: "Never."

The physicist said: "In an infinite amount of time."

The business professional said: "When the offer is good enough."

You can survive and prosper during a recession if you act, not react.

  • Work harder and longer hours.
  • You must lower your operating cost.
  • You must increase the number of advertising impressions your prospects see. You do not have to increase your marketing cost.
  • Market to your perfect prospects. Those people who you can make the most amount of money from with the least amount of costs (time and money).
  • Market to your competition's customers.
  • Use low cost advertising:
  1. It cost no more to make a thousand telephone calls than to make one.
  2. Arrange with a non-competitive business to hand out each other's marketing materials.
  3. Use your vehicles including personal ones, to advertise specials with signs.
  4. Increase your point of purchase signage.
  5. Use attractive signs outside of your business.
  6. Create and hand out circulars.
  7. Make presentations at clubs and organizations.
  8. Market to private and public organizations.

Don't forget to use one of your most valuable assets - your customer list. Always go to your customer list. If they purchased from you once they will purchase your products and services again.

The key actions needed to surviving and prospering in a recession:

  1. Take advantage of the opening your competition is giving you when they cut back their marketing and selling aggressiveness.
  2. Lower your overall operating cost.
  3. Be more aggressive in contacting your customers and prospects.Increase the offer to increase the demand for your products and services.
  4. Become more and more aggressive. More aggressive today than yesterday. More aggressive tomorrow than today. And always more aggressive than your competition.

Bob Janet - Sales consultant/trainer, speaker, author of "Join The Profit Club" combines 40 plus years as owner/operator of professional, retail, manufacturing and service businesses with his unique teaching and storytelling ability to motivate, educate and inspire business professionals of all levels and all industries for increased sales & profits. Contact Bob at 800-286-1203, or e-mail This email address is being protected from spambots. You need JavaScript enabled to view it..


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