Best of The Best Lifetime Warranty is a Competitive Edge for Wisconsin Jeweler Attention-getting program draws customers to Jim Kryshak Jewelers. Published 3 years ago on September 25, 2017 By Eileen McClelland Instore October 2017 Issue Share Tweet In a competitive diamond market, bridal specialists at Jim Kryshak Jewelers in Wausau, WI, have found a way to consistently differentiate themselves and clinch the sale by offering an attention-getting ‘lifetime warranty’, covering materials and workmanship, from a nationwide network of independent jewelers. The offer is so stunning that competitors tell customers that “it can’t be real.” IDEA This Benefit is Portable Members of Preferred Jewelers International, a nationwide network of jewelers, can offer clients a lifetime warranty on jewelry, including diamonds up to 0.20 TCW, as long as the client brings it in every six months to be checked. It also covers prong re-tipping, resizing, tightening of stones, refinishing and polishing, and repairing or replacing loose earring backs. Because the program is national, the customer’s warranty stays intact if they move; they can find another jeweler in the network. Some jewelry retail groups offer a warranty that may cost the client as much as $500. This one is free. EXECUTION Advertisement Integrate the Warranty Into the Sale Jim Kryshak manager Tara Smith says the warranty is integral to the sales process and is an important part of the store’s sales training. “It’s an actual benefit, so we use it in the process and presentation rather than after the sale. It’s as integral to a piece of jewelry as a prong on a ring.” Customers receive a phone call every six months as a reminder to have their rings checked. But often they keep track themselves and take the initiative to call Smith if they are running late on their warranty check. Jim Kryshak Jewelers started implementing the warranty plan in 2012, but they grandfather in all past purchases if customers will pay to restore them to like-new condition first. They advertise the warranty heavily on radio. Word of mouth has also been strong. “People come in and say, `Tell me about this! How can you give this away?’ Other stores tell people, ‘There’s no way they can really do this.’” Advertisement REWARDS Customer Acquisition is Automatic “Every time we’re up against another store, we say we’re going to do this and do it for free, for a lifetime,” Smith says. “Nobody else has anything like it. This is hundreds of thousands of dollars we are covering that normally customers would have to pay for.” New customers automatically seek out the store without the typical cost of advertising associated with acquiring new customers. In addition, nine customers who bought rings out of the area and later moved to the Wausau, WI, area sought out Jim Kryshak Jewelers to become their new jeweler because of their participation in the warranty plan. In one example, a new customer, Karla, had moved to Wisconsin and was looking for a Preferred Jeweler in her area for replacement of a diamond that was missing from the shank. Advertisement While replacing the diamond, the jeweler noticed that one of the prongs on the center stone was bent, so he straightened and tightened her center stone as well. The ring was also polished and cleaned. “Karla was thrilled when she saw her ring. She hugged me and thanked me for the service,” Smith says. She also ordered her wedding band and became a frequent shopper. PHOTO GALLERY (6 IMAGES) Related Topics: Best of the Bestcustomer serviceINSTORE October '17jewelry stores in WisconsinPreferred Jewelers Internationalwarranties click to Comment(Comment) Up Next Florida Jeweler Hosts a Party with a Plotline Don't Miss Maryland Store Targets Millennial Customers In Their Own Language Eileen McClelland Eileen McClelland is the Managing Editor of INSTORE. She believes that every jewelry store has the power of cool within them. Continue Reading Advertisement SPONSORED VIDEO Wilkerson Testimonials Retirement Made Easy with Wilkerson The store was a landmark in Topeka, Kansas, but after 80 years in business, it was time for Briman’s Leading Jewelers to close up shop. Third generation jeweler and owner Rob Briman says the decision wasn’t easy, but the sale that followed was — all thanks to Wilkerson. Briman had decided a year prior to the summer 2020 sale that he wanted to retire. With a pandemic in full force, he had plenty of questions and concerns. “We had no real way to know if we were going to be successful or have a failure on our hands,” says Briman. “We didn’t know what to expect.” But with Wilkerson in charge, the experience was “fantastic” and now there’s plenty of time for relaxing and enjoying a more secure retirement. “I would recommend Wilkerson to any retailer considering a going-out-of-business sale,” says Briman. “They’ll help you reach your financial goal. Our experience was a tremendous success.” You may like How to Make More of Your Meetings and More Tips For Store Owners How To Close Virtual Sales Here’s Your Manager’s To-Do List for December Promoted Headlines Digital Warrior: A Conversation with GemFind’s Alex Fetanat GemFind A Sales Meeting Platform for The 21st Century The Plumb Club With Average Retails of $250, This Is One Brand You Won’t Want to Miss! 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