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Last updateWed, 06 Dec 2017 6am
Floyd & Green Jewelers celebrating 25th anniversary

Floyd & Green Jewelers celebrating 25th anniversary

For Steve Floyd & Tom Williams, it seems like ...

“That guy who baby sits jewelry stores”

“That guy who baby sits jewelry stores”

Longtime jeweler fires up retired ambulance to off...

GA jeweler makes ‘Black Panther’ ring for Marvel movies

GA jeweler makes ‘Black Panther’ ring for Marvel movies

Hans and Lynn Allwicher, co-owners of Jewelry Expr...

Gem Star Imports offers cutting-edge concepts & loyal service to retailers

Gem Star Imports offers cutting-edge concepts & loyal service to retailers

Gem Star Imports, a leading diamond jewelry manufa...

Other News

NRF says Senate passage of tax reform could give shoppers ‘free Christmas’

NRF says Senate passage of tax reform could give shoppers ‘free Christmas’

(WASHINGTON) - The National Retail Federation (NRF) welcomed Senate passage of landmark tax reform legislation, saying congressional action on the pro-growth plan is helping boost consumer confidence and that savings from reform could be enough to pay...

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Industry Events

GIA reports well attended Jewelry Career Fair and Open House

GIA reports well attended Jewelry Career Fair and Open House

(CARLSBAD, Calif.) - GIA’s (Gemological Institute of America) Jewelry Career Fair and Open House drew nearly 900 gem and jewelry professionals, job seekers and members of the local community to the event’s 26th anniversary on October 13. This annual e...

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On The Move

American Gem Trade Association GemFair™ and U.S. Antique Shows to co-locate in Las Vegas

American Gem Trade Association GemFair™ and U.S. Antique Shows to co-locate in Las Vegas

Partnership will mutually benefit exhibitors and attendees

(NEW YORK) - The American Gem Trade Association (AGTA) and U.S. Antique Shows are pleased to announce that their Las Vegas events will be co-located at the Las Vegas Convention Center, beginnin...

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What's New

GN Diamond unveils Diamond Hunt

GN Diamond unveils Diamond Hunt

Free in-store tool designed to help retailers sell more diamonds

Qualifying a customer’s budget is a common hurdle faced by jewelers and their sales associates on a daily basis. GN Diamond listens to the common pain points experienced by jewelers and ...

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Latest News

NRF says Senate passage of tax reform could give shoppers ‘free Christmas’

4 DAYS AGO
NRF says Senate passage of tax reform could give shoppers ‘free Christmas’

(WASHINGTON) - The National Retail Federation (NRF) welcomed Senate passage of landmark tax reform legislation, saying congressional action on the pro-growth plan is helping boost consumer confidence and that savings from reform could be enough to pay for many families’ holiday shopping.

Readmore

Maximize the store experience

4 DAYS AGO

Jewelers Mutual’s 5 tips to go beyond the sale this holiday season

(NEENAH, Wis.) - We’ve all heard the catch phrase “don’t sweat the small stuff”, but in retail nothing could be further from the truth, especially this holiday season. Facing the busiest time of year and increased traffic, it’s easy to...

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GIA reports well attended Jewelry Career Fair and Open House

9 DAYS AGO
GIA reports well attended Jewelry Career Fair and Open House

(CARLSBAD, Calif.) - GIA’s (Gemological Institute of America) Jewelry Career Fair and Open House drew nearly 900 gem and jewelry professionals, job seekers and members of the local community to the event’s 26th anniversary on October 13. This annual event at GIA’s Carlsbad World Headquarters was bust...

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IGI presents at AliExpress event ahead of Major Chinese Ecommerce Day

9 DAYS AGO

(SHANGHAI, China) - The International Gemological Institute’s (IGI) Shanghai team delivered a lecture at the AliExpress “Double Eleven Jewelry Industry Gold Sellers Training Session” in Hangzhou, China. AliExpress is an ecommerce platform owned by Alibaba (currently the world’s largest retailer).

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American Gem Trade Association GemFair™ and U.S. Antique Shows to co-locate in Las Vegas

4 DAYS AGO
American Gem Trade Association GemFair™ and U.S. Antique Shows to co-locate in Las Vegas

Partnership will mutually benefit exhibitors and attendees

(NEW YORK) - The American Gem Trade Association (AGTA) and U.S. Antique Shows are pleased to announce that their Las Vegas events will be co-located at the Las Vegas Convention Center, beginning in June of 2019. AGTA GemFair™ Las Vegas is a de...

Readmore

Rembrandt expanding U.S. operations to support sales growth of traditional charm bracelet business

4 DAYS AGO
Rembrandt expanding U.S. operations to support sales growth of traditional charm bracelet business

(WILLIAMSVILLE, N.Y.) - Rembrandt Charms is expanding its Williamsville, New York operations to include a new state of the art, eco-friendly electroplating facility. Rembrandt Charms was awarded an Empire State Development Grant by New York State for this project. The expansion is an integral part of...

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GN Diamond unveils Diamond Hunt

4 DAYS AGO
GN Diamond unveils Diamond Hunt

Free in-store tool designed to help retailers sell more diamonds

Qualifying a customer’s budget is a common hurdle faced by jewelers and their sales associates on a daily basis. GN Diamond listens to the common pain points experienced by jewelers and has responded by now offering retailers the abilit...

Readmore

Brad Huisken introduces retail sales training app

9 DAYS AGO

(DENVER) – As retailers face more pressure from online competition, it’s important for brick-and-mortar stores to make the most of every sales opportunity they have. Brad Huisken’s IAS Training provides sales associates and managers with the tools to build customer relationships and increase sales, a...

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Furry friends on the job: Otto from Kester Jewelry store

4 DAYS AGO
Furry friends on the job: Otto from Kester Jewelry store

Otto the laser welding cat is a 4 year old rescue kitty. The second feline featured in our Furry Friends, Otto is the 4th kitty in 45 years to grace the Kester Jewelry store in Craig, Colorado, where he works side-by-side with owner Richard Tyser. 

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Furry friends on the job: Riley of M Lange Pearl Company

11 DAYS AGO
Furry friends on the job: Riley of M Lange Pearl Company

This is Riley. Riley is an 8 1/2 year-old full-sized male standard poodle. He goes to work daily with pearl dealer Norman Lange at M Lange Pearl Company in Oconomowoc, Wisconsin, where he serves as the “office manager.” Norman says the suave poodle is especially excited to greet his female customers...

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The Marketing Minute: Trend Spotting

1 MONTHS 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

 

 

 

 

 

 

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The Marketing Minute: Pricing Strategy

2 MONTHS 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..


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