10212017Sat
Last updateWed, 18 Oct 2017 12am
Sandy Jones jewelry career comes full circle

Sandy Jones jewelry career comes full circle

They say never burn a bridge you may need to cross...

Reason to Hope: Jewelry industry steps up to help natural disaster victims

Reason to Hope: Jewelry industry steps up to help natural disaster victims

It’s so easy to get sucked into choosing a side. T...

Overnight explains how to say, “Yes!” to every sale

Overnight explains how to say, “Yes!” to every sale

Releases 2 new catalogs  

Being a jewelry retailer h...

Remembering Janel Russell, creator of Mother and Child Jewelry

Remembering Janel Russell, creator of Mother and Child Jewelry

Motherhood defined much of Janel Russell’s life, b...

Other News

The psychology of the allure of gold

The psychology of the allure of gold

When you think of the color gold, images of grandeur and extravagance are likely to come to mind.

For millennia, the metal has adorned crowns and hilts of swords. It has been used to enhance paintings and ornaments to increase their value.

In some cult...

Readmore

Loading...

Industry Events

Initiatives in Art & Culture announces 19th Annual Fashion + Design Conference: “White: Palette, Prism, Possibility”

Initiatives in Art & Culture announces 19th Annual Fashion + Design Conference: “White: Palette, Prism, Possibility”

Conference to be held November 10 & 11, 2017 at CUNY Graduate Center, New York City

Initiatives in Art & Culture (IAC), an organization committed to educating diverse audiences in the fine, decorative, and visual arts, has announced their 19th...

Readmore

Loading...

On The Move

Paul Machiels, owner of Charms Plus, to retire 37-year industry veteran seeking to sell wholesale business

Paul Machiels, owner of Charms Plus, to retire 37-year industry veteran seeking to sell wholesale business

Paul Machiels, who has spent the last 37 years selling jewelry, chains, and charms to retail stores, has announced his retirement. His announcement coincides with his intention to sell JKM Enterprises, parent company of Charms Plus, to interested buy...

Readmore

Loading...

What's New

Merit Diamond introduces MFIT®

Merit Diamond introduces MFIT®

Innovative men’s wedding bands designed with maximum comfort in mind

Merit® Diamond, manufacturers of the popular, luxurious diamond fashion line Sirena®, has developed and tested their supremely comfortable men’s MFIT® wedding band line over the past...

Readmore

Loading...

Featured Articles

Alamea Hawaii’s appeal washes deep into America with elegance & beauty of the sea

Alamea Hawaii’s appeal washes deep into America with elegance & beauty of the sea

One doesn’t have to live in paradise to appreciate and crave a piece of it. With this in mind, Alamea Hawaii brings the beauty of Hawaii and beyond to inner America with elegant and fashionable designs for jewelers and retailers, inspired by the most...

Readmore

Loading...

Latest News

The psychology of the allure of gold

3 DAYS AGO
The psychology of the allure of gold

When you think of the color gold, images of grandeur and extravagance are likely to come to mind.

For millennia, the metal has adorned crowns and hilts of swords. It has been used to enhance paintings and ornaments to increase their value.

In some cultures, gold is a predominant feature of festivals a...

Readmore

Scientists believe cosmic collision reveals origins of gold

3 DAYS AGO
Scientists believe cosmic collision reveals origins of gold

WASHINGTON (AP) — It was a faint signal, but it told of one of the most violent acts in the universe, and it would soon reveal secrets of the cosmos, including how gold was created.

Astronomers around the world reacted to the signal quickly, focusing telescopes located on every continent and even in ...

Readmore

Initiatives in Art & Culture announces 19th Annual Fashion + Design Conference: “White: Palette, Prism, Possibility”

3 DAYS AGO
Initiatives in Art & Culture announces 19th Annual Fashion + Design Conference: “White: Palette, Prism, Possibility”

Conference to be held November 10 & 11, 2017 at CUNY Graduate Center, New York City

Initiatives in Art & Culture (IAC), an organization committed to educating diverse audiences in the fine, decorative, and visual arts, has announced their 19th Annual Fashion + Design Conference will be held N...

Readmore

Andie Weinman sparkles in the City of Gold

10 DAYS AGO
Andie Weinman sparkles in the City of Gold

Preferred Jewelers International CEO shares info on PJI and successful American retail strategies in Dubai

The City of Gold was the international backdrop for the Gemological Science International (GSI) presentation on ‘The Successful American Retail Strategies’ during DMCC Dubai on September 12, 201...

Readmore

Paul Machiels, owner of Charms Plus, to retire 37-year industry veteran seeking to sell wholesale business

19 DAYS AGO
Paul Machiels, owner of Charms Plus, to retire 37-year industry veteran seeking to sell wholesale business

Paul Machiels, who has spent the last 37 years selling jewelry, chains, and charms to retail stores, has announced his retirement. His announcement coincides with his intention to sell JKM Enterprises, parent company of Charms Plus, to interested buyers. His book of business continues to be lucrativ...

Readmore

Patrick Retzer joins the Color Merchants/Brevani family as V.P. of Sales

24 DAYS AGO
Patrick Retzer joins the Color Merchants/Brevani family as V.P. of Sales

(NEW YORK) - Brevani, the branded division of Color Merchants Inc. has announced they’ll be bringing on industry veteran Patrick Retzer to head up their sales division and oversee the brands direction.

Readmore

Merit Diamond introduces MFIT®

3 DAYS AGO
Merit Diamond introduces MFIT®

Innovative men’s wedding bands designed with maximum comfort in mind

Merit® Diamond, manufacturers of the popular, luxurious diamond fashion line Sirena®, has developed and tested their supremely comfortable men’s MFIT® wedding band line over the past 5 years. The patented brand provides men with “no...

Readmore

GN Diamond offering free Gemprint on all diamonds

10 DAYS AGO
GN Diamond offering free Gemprint on all diamonds

GN Diamond listens to the common pain points experienced by jewelers on a daily basis. Internet shopping is one of the biggest obstacles expressed by the brick and mortar store. By offering added value and annual savings through Gemprint, jewelers are now armed with a point of distinction against th...

Readmore

Furry friends on the job: Loki - Kingsbury Designs & Repairs, Clinton, Mississippi

3 DAYS AGO
Furry friends on the job: Loki - Kingsbury Designs & Repairs, Clinton, Mississippi

 

This is Loki. Loki works for David at Kingsbury Designs & Repairs in Clinton, Mississippi. David says Loki was named after the evil brother of Thor, but his customers love him anyway.

Readmore

Furry friends on the job: Larry at Douglas Jeweler in Hartford, Wisconsin

10 DAYS AGO
Furry friends on the job: Larry at Douglas Jeweler in Hartford, Wisconsin

Say hello to Larry, the mini golden doodle. Larry loves going to work with his “dad” and “grandpa” at Douglas Jeweler in Hartford, Wisconsin. Larry likes wearing his finest clothes to work and always greets everyone with a tail wag and kisses!

Readmore

The Marketing Minute: Trend Spotting

3 DAYS AGO

Marketing specialist George Prout produces a weekly marketing advice video for retail jewelers, The Monday Morning Marketing Minute. He’s generously agreed to let us share them with our eWeekly readers.

 

Click here  to see more of George Prout’s The Marketing Minute

 

 

 

 

 

 

Readmore

The Marketing Minute: Pricing Strategy

10 DAYS AGO

Marketing specialist George Prout produces a weekly marketing advice video for retail jewelers, The Monday Morning Marketing Minute. He’s generously agreed to let us share them with our eWeekly readers.

 

Click here  to see more of George Prout’s The Marketing Minute

 

 

 

 

 

Readmore

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..


Columnist