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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: Use This Low-Tech Secret to Bring More Jewelry Customers Through Your Door
Jim Ackerman

Video: Use This Low-Tech Secret to Bring More Jewelry Customers Through Your Door

Video: How to Greet Jewelry Customers Without Sounding Like a Salesperson
Jimmy Degroot

Video: How to Greet Jewelry Customers Without Sounding Like a Salesperson

Video: How to Get Rid of Negative Thoughts in Your Work as a Jeweler
Jimmy Degroot

Video: How to Get Rid of Negative Thoughts in Your Work as a Jeweler

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 80 international journalism awards for its publication and website. Contact INSTORE's editors at editor@instoremag.com.

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Wilkerson Testimonials

When It’s Time for Something New, Call Wilkerson

Fifty-four years is a long time to stay in one place. So, when Cindy Skatell-Dacus, owner of Skatell’s Custom Jewelers in Greenville, SC decided to move on to life’s next adventure, she called Wilkerson. “I’d seen their ads in the trade magazines for years,’ she says, before hiring them to run her store’s GOB sale. It was such a great experience, Skatell-Dacus says it didn’t even seem like a sale was taking place. Does she have some advice for others thinking of a liquidation or GOB sale? Three words, she says: “Wilkerson. Wilkerson. Wilkerson.”

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Manager's To Do

A Trick to Selling More Platinum, And Other Manager’s To-Do Items for September

And here are some great tips for infographics in your store.

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Sep. 1-7

INVENTORY The economy may be slowing a tad, but the wealthy keep getting richer. That is allowing more people to trade up from the standard 1-carat diamond engagement ring. But to sell 2-, 3-, or 4-carat pieces, you need to have a few on hand, says David Brown of the Edge Retail Academy. Start experimenting with more expensive bridal sets.

MARKETING Conduct an advertising review. If it’s bridal sales you desire, put that shotgun away. Pick one or two advertising media, based on their reach and return on investment, and concentrate on them. That requires courage and perseverance, but it’s the surest way to break through the chatter and win that key top-of-mind presence in your local market that will deliver engagement ring sales.

Sep. 8-14

STAFF Few things are more important to staff than having the sense that their work matters. As bridal season approaches, make it a constant refrain in your strategy meetings: you’re helping people with one of the most important decisions of their life.

SHOWROOM “It’s remarkable,” says merchandising expert Sally Furrer, “how often diamond areas are underlit in stores.” Crank up the lights.

Sep. 15-21

TRAINING The rise of the bead phenomenon in the last decade caused many jewelers to cut back on diamond sales training. If that happened in your store, look to bring in a trainer who specializes in bridal goods. It’s a whole different skill set.

MARKETING Twitter’s search function, along with free applications like TweetDeck, can be great tools for market research and lead generation. Start monitoring your competitors’ brand names and hashtags to see what people are saying about them and you. Set keywords related to bridal sales in your market and don’t be afraid to follow up (unsolicited messages from strangers is a fact of life in the Twitter-sphere).

Sep. 22-28

SOCIAL Want to take your social media efforts to the next level while educating your clientele about bridal in a way they’ll remember? Think infographics. Whether charting the evolution of diamond cuts or providing tips on ring cleaning, infographics are a great shareable way to communicate your message. Try these free infographic websites: Piktochart.com, Venngage.com, Easel.ly.

SALES Want to sell more platinum? Highlight its staying power. Keep an old white-gold ring and an old platinum one behind the counter to show customers what happens to the two metals after a few years. One of platinum’s strengths is the durability of its white color, which won’t fade or change (like an enduring love, hint, hint) and will continue to complement a diamond, as opposed to white gold, which fades to yellow.

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Yarr! It’s International Talk Like a Pirate Day and More Important Dates for September

“I’ll be paying top dollar for whatever golden loot ye’ve got stashed in your little treasure chest.”

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19 Many jewelers seem to have forgotten what a lucrative earner gold buying can be. Luckily, International Talk Like A Pirate Day is here to remind you. Yarr, have some fun with your advertising. “Yes, me hearties, Cap’n Jack Black Diamond has gone straight. I’ll be paying top dollar for your doubloons, old lockets or whatever golden loot ye’ve got stashed in your little treasure chests. Come see the Cap’n before the sharks get ye.”

01 On NATIONAL NO RHYME (NOR REASON) DAY, challenge your customers on social media to come up with words that can’t be rhymed. Three you can probably put to good use in your posts that day are “spirit,” “silver” and “woman.”

06 Today is FIGHT PROCRASTINATION DAY, and if you’re one of the many afflicted, try this trick: when jotting down a to-do item, keep rephrasing it until it involves the use of your limbs: “Pick up phone and call …”, “Open laptop and search for …”

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Remembering Woodstock, The Little One’s First Day in Kindergarten, and More Useful August Dates

You’re always busy, but this month, get things done.

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19 Mark the 30th anniversary of the launch of Stephen Covey’s THE 7 HABITS OF HIGHLY EFFECTIVE PEOPLE by doing something in its spirit: keep a journal of everything you do, broken down into 30-minute increments. At the end of each workday, assign a value — 1, 2 or 3 (the lowest) — to your time, and at the end of the week, evaluate the results. They may well surprise you. Obviously you want to be spending at least half your time on No. 1s.

1 August is GET READY FOR KINDERGARTEN MONTH. On the first day of school, invite all new kindergarten moms to come in for mimosas and snacks. They can reward themselves for surviving this milestone.

4 The FIRST ELECTRIC LIGHTBULB sparked to life 140 years ago today. Mark the occasion with a brainstorming session with staff for fourth-quarter promotions.

15 Fifty years ago today, the promise of free music, a good time, and … umm … a pretty good shot at “getting lucky” drew 400,000 young people to WOODSTOCK, NY. To many folks, that’s much the same promise that jewelry makes (minus the music). Roll back the years with a store party.

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