Connect with us

Manager's To Do

Explore New Financing Options … and More Business To-Dos for September

mm

Published

on

Torin Bales of Torin Bales Fine Jewelry

Sep. 4-9

PUBLIC RELATIONS Dust off your four Cs speech, update your fashion-trends analysis and volunteer to be the voice of the small business community. There are meeting halls and newspaper column inches to be filled.

MARKETING If you don’t offer financing, get busy exploring the options. “If you go to any mall store, they are really selling a payment, not quality or style,” says Torin Bales (PICTURED), owner of Torin Bales Fine Jewelry in Victoria, TX. “Once you get them in, they’ll keep coming back — for bridesmaids’ gifts, wedding bands and anniversary gifts.”

TRAINING Terry Chandler, president of the Diamond Council of America, recommends delivering a training session that underscores that the bridal sale requires a relationship. “Train your sales associates to change gears during the holidays for this consumer so they don’t feel rushed or under-served,” he says.

Sep. 11-16

INVENTORY Seven out of 10 brides opt for white gold rings, but Platinum Guild International says that, according to its research, a lot of them would prefer platinum. Review your stocks — and your staff’s platinum selling skills — to see if you can boost this category. 

SALES Give your salespeople a homework assignment: Come up with 25 phrases that describe a diamond in the most emotional and desire-igniting way. If they need inspiration, they should watch QVC for half an hour and write down all the adjectives the well-trained presenters on the shopping channel use.

Advertisement

TECHNOLOGY In 2017 we shouldn’t have to tell you how important that initial online contact is. Test how your website loads on 3G, 4G, and WiFi to understand how your site really works in the hands of users.

Sep. 18-23

OPERATIONS Draft a cleaning schedule to ensure all your bridal goods are polished and freshly ticketed.

DISPLAY Banish from view that tray of plain wedding bands; it makes it too easy to undersell your customers. Follow a rule of not showing more than three rings/bands at a time.

SALES Today’s shoppers are better educated than ever before. It’s important your staff have their facts straight. To help them, discreetly place “cheat sheets” (index cards listing selling benefits, origin info, and treatments) near displays that they can turn to during slow moments.

Sep. 25-30

SALES Tell staff — and yourself — that for the next month, no one is allowed to bring out a report when showing a diamond until the deal is done or the customer asks for it. Your goal should be filling customers’ hearts with visions of a life spent with their soul mate.

TRAINING If you don’t have more than a few 1-carat-plus diamonds in your store, it’s time to memo up. The reason 90 percent of diamond sales are still done offline is because customers want to see and touch the real thing. 

Advertisement

EMAIL Here’s a quick to-do to give your emails a personal touch. Include a signature, along with a short message (e.g. “We’re here to help you shine!”) that will automatically appear at the end of your emails.

Over the years, INSTORE has won 80 international journalism awards for its publication and website. Contact INSTORE's editors at editor@instoremag.com.

Advertisement

SPONSORED VIDEO

Wilkerson Testimonials

To Generate Funds for a Jeweler’s Move and Remodel, Wilkerson More Than Delivered

Even successful jewelers need a little extra cash to fund expansion plans—especially when there’s inventory on hand that’s ripe for liquidation. For Beaumont, Texas-based jeweler Michael Price, co-owner of Mathews Jewelers, it was the perfect time to call Wilkerson. Price talked to other jewelers as well as vendors for advice during the selection process and decided to go with Wilkerson. And he wasn’t disappointed. When it comes to paying for the move and expansion, Price says the road ahead is clear. “When we close on the next two stores, there’s no worries about finances.”

Promoted Headlines

Manager's To Do

Prep Your Last-Minute Panic Buying Strategy for V-Day and More Manager’s To-Do Items

This is the time to get your strategy in order for the year.

mm

Published

on

Feb. 2-8

CRM Want to be top of mind come dates like Valentine’s Day? Send a bouquet of flowers on the birthday and anniversary of every woman customer who has spent over $3,000 in the last two years. Start this week.

FINANCE One of the downsides of never-ending economic growth is a tendency to get sloppy with costs. There are savings just about everywhere — if you are prepared to demand them. Don’t have time to negotiate? Services like BillShark, BillFixers and Billcutterz will do it for you in areas such as your fixed-line telephone, water delivery, even alarm system for a share of the savings.

OPERATIONS Only a week to go until Valentine’s.It’s time to turn that wish-list data into sales receipts. Email spouses and partners. Then get on the phone to follow up.

Advertisement

Feb. 9-15

FINANCES If your fiscal year ends in December, you should have your financial statements finalized by Feb. 29. Make an appointment to see your CPA.
SALES Feb. 14 falls on a Friday this year. Review your “last-minute panic-buying” strategy. Expect a rush in the afternoon when employees all over the country switch off from work and start thinking about the weekend.

INVENTORY Identify your “white space” — those areas where demand in your market is going unfulfilled by your store. Make a note of what your customers are requesting that you don’t have, like, for example, inventory under the $100 price point. Be ready to fill in the blanks come buying season.

Feb. 16-22

STRATEGY Embark on a strategic review. Look at what your competitors are doing and learn from them, both the good and the bad. Visit their stores and websites, subscribe to their newsletters, and assign someone on staff to clip or screenshot every one of their ads (not just specialist jewelers), and create a scrapbook. With such knowledge, you’ll be able identify what areas to compete in and how to differentiate your store in your ads.

Advertisement

OPERATIONS Examine your in-store signage. Is it friendly? Is it memorable? If it’s not both, start the process of changing it.

MARKETING Valentine’s is done and dusted. Adjust case content with an eye toward Mother’s Day and graduation season. And don’t forget self-purchasers — they buy throughout the year.

INVENTORY Contact suppliers. Ask if they have merchandise following the holiday season that might be a fit for your market.

Feb. 23-29

STAFF Do you have guidelines for handling complaints? If not, get busy. As much as possible, empower your team to make decisions without you.

MARKETING From here on out, things start to slow. Identify your top customers and make yearlong plans targeting them. Have your sales staff research what, when and how their best 15 (or more) customers buy. Use this information to target their needs and deliver better and more personalized service. Input this information in your customer management database.

Continue Reading

Calendar

Get Big-Game Ready – The Super Bowl Is Approaching, and More Important Dates for February

It’s a leap year – that means one more marketing opportunity.

mm

Published

on

2 The Super Bowl these days is as much a test of a business’s marketing acumen as a sporting event. “Most Valuable” promotions, offers to return the purchase price if a certain point spread is met, men’s events with a former player, Souper Bowl charity drives … the options are almost endless. Make sure you’re game-ready too. America is watching.

2 OK, here we go again (and again, and again … ).It’s GROUNDHOG DAY, and that celebrated meteorologist Punxsutawney Phil will emerge. Offer a discount at 2015 prices if he sees his own shadow.

10 The handwritten-envelope please, and the invitation, and the canapes, and your red carpet commentary … Yes, the OSCARS are tonight. You know the drill.

29 LEAP YEAR DAY only comes every four years, so jump on this sweet little marketing op. Hoppy Hour, anyone?

Continue Reading

Calendar

Make the Most of Blue Monday and More Important Dates for January

It’s 2020, so make sure your vision is clear.

mm

Published

on

20 Combine post-holiday depression with seeing our New Year’s resolutions fall by the wayside, and we arrive at a date in the third week of January that has come to be known as BLUE MONDAY, when — according to various media accounts — we are at our most miserable. Fight this annual nadir with a Blues Bash on social media or in-store, featuring your sapphires and other blue jewelry. It could also be a good way to introduce Pantone’s color of 2020 — “Classic Blue”.

1 As we open the year 20/20, take time to give serious thought to your vision. What one bold thing does your business stand for? How clear is it to everyone?

15 On GET TO KNOW YOUR CUSTOMER DAY, give your sales associates an allowance to take a customer out to lunch. Their goal should be to learn about them, not to sell them.

28 Celebrate FUN AT WORK DAY by rolling out a ceremony to celebrate big sales or a fun new spiff. And don’t forget to tell customers how much fun you had serving them.

Continue Reading

Advertisement

Advertisement

Advertisement

Subscribe


BULLETINS

INSTORE helps you become a better jeweler
with the biggest daily news headlines and useful tips.
(Mailed 5x per week.)

Latest Comments

Most Popular