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Manager's To Do

Capitalizing on Valentine’s Engagement Sales, March Madness and More March To-Dos

Your managerial planning for the month starts here.

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Mar. 3-9

BUDGETING Time to get started on making a budget for the 2019 buying season and get ready to trade in old inventory for new inventory. Also, if possible, have an inventory reduction sale to get rid of the dated inventory before going to Vegas.

SALES FLOOR Beware the ex-brides of March! Divorce filings are highest this month. Do you have a script ready explaining why the resale value of an engagement ring may not meet the customer’s expectations? If not, get busy.

Video: How to Hire the Best People for Your Jewelry Store
Jimmy Degroot

Video: How to Hire the Best People for Your Jewelry Store

Video: Jim Ackerman on Why Your Digital Marketing Doesn’t Work Like the Experts Say It Should
Jim Ackerman

Video: Jim Ackerman on Why Your Digital Marketing Doesn’t Work Like the Experts Say It Should

Video: Don’t Miss the Biggest Opportunity to Improve Profits in Your Jewelry Store
Jimmy Degroot

Video: Don’t Miss the Biggest Opportunity to Improve Profits in Your Jewelry Store

MARKETING Remember all those clients who bought engagement rings in advance of Valentine’s Day? Call to see what their plans are for wedding bands.

Mar. 10-16

MERCHANDISE It’s March. Embrace the madness. The NCAA Men’s Basketball Finals starts on March 17 and runs through to April 8. It’s a great chance to clear out old inventory with a quick Sheer Madness Sale! At the very least, organize a pool for staff.

SHOWROOM Is your custom area as friendly as it could be? Does it feature a gallery highlighting past designs, portraits of satisfied customers, updated displays, appropriate lighting, a signature scent?

Mar. 17-23

MARKETING Hold a Prom Dress Party. Encourage girls to bring their dresses into the store and try on jewelry with the dress. Identify pieces to excite them at prices that will entice a sale (that means jewelry with a big look for less money).

MERCHANDISING Pull out your promotional calendar and view it from the perspective of using the events to manage and reduce specific inventory. Annual customer appreciation sales, trunk shows, open houses, and repair/jewelry remodeling events can all give your finances an even greater boost if you execute them with a view to moving certain items.

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MANAGEMENT Download a time tracker to your phone and start logging how you spend your work life — not because there’s much value in the record you create, but because the very act of recording can have a powerful psychological impact, leading you to use your time much more efficiently. (Warning: Brace yourself to be alarmed at how you fritter away time.)

Mar. 24-30

SHOWROOM In one analysis of a university building in Oregon, workers on the greenery-facing side took 19 percent fewer sick days. It apparently has to do with how we evolved to function best in nature-rich settings. If you can’t knock a side wall out to provide a view of the glorious outdoors, buy a few potted plants to place around your sales floor.

PERSONAL Take an inventory of your tech use and evaluate each item for its usefulness, working on the assumption that if something can’t justify itself, it’s out. Exit the social networks you barely use and get rid of the apps that, when you think about it, have no benefit. Yep, that means Candy Crush may have to go.

Over the years, INSTORE has won 76 international journalism awards for its publication and website. Contact INSTORE's editors at editor@instoremag.com.

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VIDEO HIGHLIGHT

Wilkerson Testimonials

Cleaning House for a New Generation

At Komara Jewelers in Canfield, Ohio, Wilkerson handled all the aspects of its retirement sale just as owner Bob Komara’s children took over day-to-day operations of the business. They’d used other companies before, says Brianna Komara-Pridon, but they didn’t compare. “If we had used Wilkerson then, it would have been so much better.”

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Calendar

Day of Unplugging, Near Miss Day and More Important March Dates

Don’t miss your chance to have a parade for Mardi Gras.

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20 There’s a reason the Hare Krishnas hand out flowers before soliciting donations — the awesome hold reciprocity has over humans. The psychologist Robert Cialdini notes in his bestseller Influence that we’re so deeply primed to reciprocate generosity that customers who receive a free gift become far more likely to make a purchase “in return.” Since it’s spring, take a tip from the Hare Krishnas and hand out fresh flowers to customers.

Video: How to Hire the Best People for Your Jewelry Store
Jimmy Degroot

Video: How to Hire the Best People for Your Jewelry Store

Video: Jim Ackerman on Why Your Digital Marketing Doesn’t Work Like the Experts Say It Should
Jim Ackerman

Video: Jim Ackerman on Why Your Digital Marketing Doesn’t Work Like the Experts Say It Should

Video: Don’t Miss the Biggest Opportunity to Improve Profits in Your Jewelry Store
Jimmy Degroot

Video: Don’t Miss the Biggest Opportunity to Improve Profits in Your Jewelry Store

4 Day of Unplugging. The challenge: 24 hours without phone or Internet contact. Can you do it? The benefits are said to be surprising.

5 Celebrate Mardi Gras with a bead party. Cook up some red beans and rice, stick on some music and have yourself a parade.

23 Thirty years ago, a mountain-sized asteroid passed within 500,000 miles of Earth — a very, very close call according to NASA. Luckily, we survived and Near Miss Day was born. In thanks, dig up one of your or your sales associate’s recent “near misses” and debate what may have saved the sale. A lower price? More romance? Bruce Willis?

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Single Tasking Day, Red Carpet Season and More Big Dates for February

The essential jeweler’s calendar for the month starts here.

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4 With more than two billion users, you need to be sure you’ve fully explored the potential of Facebook. On the 15th Anniversary of Facebook’s Launch by Mark Zuckerberg and three friends, adopt the company’s motto, “Move Fast and Break Things,” and commit to shaking things up with your social media marketing. Test some sponsored posts. Get absurdly specific with your targeting. Try a contest. Try more video. Follow INSTORE’s Facebook page at facebook.com/instoremag.

Podcast: A One of a Kind Family Heirloom is ‘Vaporized’ … and a Jeweler Goes Above and Beyond to Replace It
Over the Counter

Podcast: A One of a Kind Family Heirloom is ‘Vaporized’ … and a Jeweler Goes Above and Beyond to Replace It

Podcast: Using Social Media to Win Customers and Lower Your Intimidation Factor
JimmyCast

Podcast: Using Social Media to Win Customers and Lower Your Intimidation Factor

Podcast: Michael O’Connor, Jewelry’s Perfect Spokesman, Visits ‘The Barb Wire’
The Barb Wire

Podcast: Michael O’Connor, Jewelry’s Perfect Spokesman, Visits ‘The Barb Wire’

10 Red-carpet season rolls on with The Grammys today and The Academy Awards on Feb. 25. Slip into fashion-maven mode and get your customers excited about jewelry’s cutting-edge trends with tweets, snaps, posts and blogs.

14 Love with a touch of panic is one way to look at Valentine’s Day. And not just for the guys. If you need ideas, go to instoremag.com and test out our archive search.

22 On Single Tasking Day, let your brain do what it’s been designed so beautifully to handle — focus on one thing at a time: one conversation, one meal, one task, one baseball game.

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Manager's To Do

Valentine’s Day Planning, Financial Tricks and More Manager’s To-Do Actions for February

Try these ideas to make the month more productive.

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Feb. 4-9

MARKETING If you’ve been dispensing the same proposal advice for the last 20 years, it’s time for an update. Check out the AGS’s Perfect Proposal Toolkit (https://americangemsocietyblog.org/category/proposal/) , which provides tips for romantic, funny, adventurous, “2.0” and simple proposals, as well as ideas to ensure you get in on some of the selfie action.

Podcast: A One of a Kind Family Heirloom is ‘Vaporized’ … and a Jeweler Goes Above and Beyond to Replace It
Over the Counter

Podcast: A One of a Kind Family Heirloom is ‘Vaporized’ … and a Jeweler Goes Above and Beyond to Replace It

Podcast: Using Social Media to Win Customers and Lower Your Intimidation Factor
JimmyCast

Podcast: Using Social Media to Win Customers and Lower Your Intimidation Factor

Podcast: Michael O’Connor, Jewelry’s Perfect Spokesman, Visits ‘The Barb Wire’
The Barb Wire

Podcast: Michael O’Connor, Jewelry’s Perfect Spokesman, Visits ‘The Barb Wire’

PERSONAL If you want your business to stay healthy, you’ve got to keep yourself healthy, first. Says Ellen Hertz of Max’s (St. Louis Park, MN): “I block out certain days and times on my calendar to support my workout schedule. If I put it on my calendar, I’m more likely to make it happen.”

MERCHANDISING Draft your kids, your staff’s kids, anyone’s kids to create some Valentine’s Day cards on simple card stock. Put them in the showcases with a small sign identifying each young artist. “While you are at it, have them make a few tent cards with product info on your best V-day gift ideas,” says display expert Larry Johnson.

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E-MARKETING Send out two slightly different e-mail blasts to your database, distinguished by gender. The message for men: we will solve your V-Day headache. Check out our “can’t miss” gift ideas. For women: share the love with friends.

Feb. 11-16

TRAINING Reinforce the need for sales presentations to highlight the emotional aspects of jewelry buying. Valentine’s Day is a straight emotional play.

E-MARKETING Resend e-mails to all those customers who opened last week’s V-Day blast. They’re interested.

STAFF Share the love on Thursday morning. Buy chocolates for your employees this Valentine’s Day. Inscribe the card, “Love your work!”

Feb. 18-23

DISPLAY Write a “designer profile” for each designer you carry. Put on “cue cards” left near the appropriate line of merchandise.

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MANAGEMENT Ask staff to write out their answer to this question: “Why do you get up in the morning and why should our customers care?” You may just find a new mission statement in those answers.

Feb. 25-Mar. 2

FINANCES There’s no one correct way to arrange the information on a profit-and-loss statement. If you have trouble easily understanding yours, ask your accountant to arrange the information so you can tell instantly what went right (or wrong) in the previous month.

FINANCES Check with your bank to see if they offer payroll assistance. Many banks now provide a service that allows you to log onto their website and enter your workers’ hours. The bank then makes a direct deposit into employees’ checking account as well as paying your federal and state withholding taxes.

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