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Last updateTue, 09 Feb 2016 8pm

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Advertising: Brand vs. Direct Response

In this corner we have “Brand Advertising” - in the opposite corner stands “Direct Response Advertising” - Who wins the battle?

First, lets define our two combatants. Brand Advertising is that which builds name recognition for a brand, but makes no specific offer.  In the jewelry biz, we’re most familiar with this type of advertising in campaigns such as:  Hearts On Fire Diamonds, Pandora Jewelry, Rolex, etc.  This type of advertising is usually very “glitzy” with four color ads, the logo displayed prominently, a picture and nothing else.

Annoying pest or welcomed guest? That really is the question...

It has been said that we American’s really do open our mail over the trash can. Our junk mail is treated as welcome as a rodent/pest would be in our home. However, certain types of direct mail, advertisements, etc. are welcomed warmly just like a guest in our home. So, how do you avoid being an annoying pest and become a welcomed guest?

What is this “USP” thing I keep hearing about & how will it help me?

USP or Unique Selling Proposition is a term that has been around for quite a while.  How can it help you in your jewelry store?

First of all, a USP is a one sentence to one paragraph description statement of what makes your store different from your competition.  It is simply a description of something only you as a store have.

How would you like a proven way to get new customers in your door at almost no cost?

You won’t be able to wait for your telephone to ring!

Sometime ago, I had a competing jewelry store in our town go out of business.  While looking through the Yellow Pages, I noticed that this jewelry store still had listings for the coming year as well as listings on the Internet, other yellow pages, etc.  (Bet you can see where I’m going.)

So, I called my local telephone company and inquired if it was possible to purchase this telephone number since the company had gone out of business, and to my surprise... they said yes!  Now follow me closely here... without delay. I purchased the telephone number with the caveat that if the folks who previously owned the number wanted it within a year, we would have to give it back to them (oh, really... now why would they want it now?)

When the new number was installed in my office (by the way, it only cost approximately $50 for the number & new telephone to answer it) I came up with a unique way of answering the phone.  The former competitor used the town’s name in their store name, so I said, “Thanks for calling Hudson’s jewelry store, “The Gold Mine”.... how may I help you today?”

Of course, many folks didn’t notice a difference and would ask whatever, “Can I get a ring sized?” or “Do you carry such & such?”  When these former customers of my competitor would ask about the slight name change, I would say, “Yes, Hudson Jewelers has gone out of business, but we have obtained their former telephone number so that we may continue servicing their customers with great products and great service!”

After the first week, I had already received five new customers from our former rival and over the year in which I kept this particular phone line operating, I gained at least 80-100 new customers.

Now you may ask, “Didn’t everyone know that this store had gone out of business?”  The answer is “NO,” because many new folks were continually moving into our area and of course they either looked in the Yellow Pages or did a search online for jewelers in our area... and those who called my former rival, were actually getting me... (pretty cool huh?)  Lets also not forget that not everyone will always see a newspaper ad about a “Going Out Of Business Sale” or hear it on the radio. Don’t assume everyone automatically knows!

Needless to say, at the end of the year when my former rival’s ads were starting to expire and their old telephone number was being taken out of the Yellow Pages, I added up all the new business and customers I had received because of this little $50 telephone line... lets just say the results went kaa-ching.... $$$$$$$.

Now Don’t Be Afraid To Try This...It Works...I Promise!

Bill Warren is the owner of The Gold Mine Fine Jewelry & Gifts in Hudson, NC and a Registered Gemologist Appraiser.  He is also the founder of Warren Marketing Systems, a company that helps retail jewelers unlock hidden revenue in their store through proven marketing systems.  Bill enjoys teaching & speaking to jewelers as well as associations/groups.  Sign up for regular marketing tips & info at  www.warrenmarketing.blogspot.com.  For further info, contact Bill at 828-729-1020 or e-mail  This email address is being protected from spambots. You need JavaScript enabled to view it..

Five things you need to know about Two Stone

Prout Headshot 2015In October, I wrote alerting you to the incipient launch of Two Stone (see “Something Really Important is About to Happen” SJN/MAJN Oct 2015). Within weeks, Signet’s ads for the Ever Us brand launched on Major League baseball telecasts, the onset of a $25 million campaign that reached a crescendo during the Holiday Season. As Two Stone now becomes entrenched as an iconic design concept, it will have a profound impact in a variety of ways. In my view, getting Two Stone right will ultimately be the single most important thing you do for your company in 2016, and the long term impact of the success (or failure) of your Two Stone strategy will change the trajectory of your business for years to come. So this month, let’s take a look at five important things you need to know.

Applied Marketing 101: Why trends are more important than ever before

 

Prout HeadshotThroughout the past 40 years, the emergence of specific trends in the jewelry sphere has impacted retail jewelry sales in a beneficial way for those who sold them. But the extent to which they now contribute to overall sales seems to me to have risen significantly, to the point where your company’s success is now inextricably linked to how well you anticipate and react to them.

The best predictive factor for what’s likely to sell tomorrow is what sells in your store today, which is why it’s so incredibly important for you to reorder fast sellers consistently throughout the year. But as trends get hot, items in demand can suddenly emerge - especially at Christmas - and catch you by surprise. And it seems to me that the occasions of these trend emergences are increasing both in frequency as well as intensity.

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