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Lifetime Warranty is a Competitive Edge for Wisconsin Jeweler

Attention-getting program draws customers to Jim Kryshak Jewelers.

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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

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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.’”

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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.

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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.

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Eileen McClelland is the Managing Editor of INSTORE. She believes that every jewelry store has the power of cool within them.

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Tacos, Tequila and Tattoos: Gold Casters’ Contest Draws a Diverse Crowd in Bloomington, IN

Unusual event infuses King Baby jewelry line launch with excitement.

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Flyers combined with a radio and social-media marketing campaign created interest.

FINE JEWELRY STORES often face the challenge of balancing elegance with approachability. Tequila, tacos and tattoos go a long way toward melting the ice, discovered Brad Lawrence of Gold Casters Fine Jewelry in Bloomington, IN.

Lawrence, who specializes in bridal jewelry and high-end watches, found a fun way to break down those threshold barriers on a Saturday with, of all things, a social-media-friendly tattoo contest to introduce the jewelry line King Baby.

Lawrence considered it the perfect complement for King Baby, which he describes as having an edgy biker look. In addition, he surmised that people who like to adorn their body with works of art would also find a deep personal connection with jewelry.

“We are what would be called a guild jeweler, and we are always trying to look for ideas that are more on the casual side,” Lawrence says. “Most of our events in the past have been black-tie or at least more traditional.” Yet Bloomington, IN, is a college town where students make up a significant percentage of the 100,000 population.

He called the event Tacos, Tequila and Tattoos.

Once he had conceived the idea, Lawrence worked with his affiliated marketing experts on getting the word out. The store placed flyers with a Harley Davidson dealer and biker bars, along with a bevy of print and social media marketing created by Porte Marketing. The event was also promoted with a radio campaign orchestrated by Roy Williams.

On the day of the event, margarita-sipping shoppers lined up for the taco bar, purchased pieces from the jewelry collection and were invited to share the story of their tattoos with the store staff, who judged the contest. Each participant received a $25 gift certificate. The contest winner received a $250 gift certificate.

Those who shared their tattoo stories defied any stereotypical expectations. “It was a much more diverse crowd than I would have expected,” Lawrence says. “We had people in their 60s and 70s with tattoos. Some people had full sleeves.

Several people had investments of $10,000 or more in tattoos.

“The event was very inclusive of our community and yet brought in a different demographic for us. It was a way of gaining new customers and having people feel more comfortable. Without question, 90 percent of the people we saw that day were new faces.”

After the event, the marketing team invited others among the tattoo-clad Bloomington population to share photos and stories of their tattoos on Gold Casters’ social media, continuing to give participants $25 gift certificates and also selecting an online winner by Facebook vote, who was awarded another $250 gift certificate.

The stories behind the tattoos turned out to be fascinating, Lawrence says, and in all about 100 people shared their stories in store or online with photos or videos.

King Baby is known as a men’s line, primarily, which the store needs, but it also has the magical versatility of being unisex. “We turned our entire investment in the line,” he says. “We sold all of the highest-end pieces we had in stock.”

The event attracted media coverage on social channels, on the radio and in the newspaper. “It was very well received by the community. People are still talking about it today.”

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Santa Fe’s Reflective Jewelry Aligns with Owners’ Ethics

Fairtrade Gold designation puts the focus on miners.

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Marc Choyt and Helen Chantler work to ensure their business aligns with their environmental and ethical beliefs.

MARC CHOYT AND HIS wife, Helen Chantler, of Santa Fe, NM, have been focused on green initiatives for decades, in all aspects of life.

“We bought land in northern New Mexico in the ‘90s, and there was a creek bed there that was badly eroded from over-grazing to the point that there were cliffs instead of gentle banks,” Choyt says. “We began to realize the impact we have locally and globally. That is a core value for us.”

Their business, Reflective Jewelry, a custom and designer jewelry studio, has been named Green Business of the Year by the city of Santa Fe and Santa Fe’s Chamber of Commerce. “This is a great honor, especially given the industry we’re in and the fact that Santa Fe is a green business city,” Choyt says.

Reflective Jewelry is the only Fairtrade Gold jeweler in the United States, a certification they received in 2015.

“Though there are over 250 Fairtrade Gold jewelers in the UK, we are still the only Fairtrade Gold jewelers in the entire USA,” says Choyt. “We produce our entire two-tone line and much of our bridal collection in Fairtrade Gold. This supports local economies, alleviates poverty and reduces global mercury contamination for small-scale gold producers. Because it’s an international brand and is the only system that audits suppliers and jewelers, it is the best option to create a foundation for responsible jewelry.”

Fairtrade Gold was only one reason, though, that the city of Santa Fe recognized Reflective Jewelry. The shop uses LED lighting, washable cloth towels, biodegradable bags for shipping, organic dish soap and non-toxic floor cleaners. Jewelers use citric acid for pickling, fluoride-free flux, a soap-based solution for tumbling, sink traps for catching heavy metals, and vacuums that capture dust and compounds—all of which are recycled. Their landscape garden, once a concrete foundation, now has mature apricot and cherry trees and native plants fed by water channeled off their roof.

Chantler, an experienced bench jeweler, launched her jewelry design business in 1994, while Choyt led the sales effort, initially concentrating on distributing jewelry to 250 stores and catalogs.

By 2001, they refocused on online sales and their own retail store. Today, six people work in the shop and the store.

Along the way, they began using recycled metals in production, which was a logical place to start, Choyt explains, but doesn’t address the big picture. “Basically, gold is going to be mined, and that’s independent of how much is used by jewelers. If we’re going to really make an impact, we have to support small-scale mining communities.”

When Choyt explains to customers that the Fairtrade Gold designation is the same well-known global brand used for Fairtrade coffee and chocolate, they are “astonished that I’m the only one operating this way, out of a small shop in Santa Fe,” he says.

So while Choyt can point to numerous 5-star Google reviews and show clients the studio where the jewelry is made, he can also ensure ethical, fair-trade sourcing from mine to market, adding another level of authority and credibility.

“Certainly one of the most important elements of any jeweler is reputation. Fairtrade Gold is just another thing that makes people feel really good about buying from us,” he says.

When the U.S. consumer market adopts Fairtrade Gold, he says, hundreds of thousands (or possibly millions) of small-scale miners finally will find their lives improved.

“When this happens, we’ll be able to point to our small studio on Baca Street as one of the catalysts.”

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Borsheims Shareholders Weekend Demands All Hands on Deck

Hospitality crucial, no matter the size of your trunk show.

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PLANNING A TRUNK show this fall? What if your trunk show involved 100 vendors, as many as 35,000 customers and 25,000 catered meatballs?

Borsheims in Omaha, NE, a subsidiary of Berkshire Hathaway, meets that challenge annually with an all-hands-on-deck approach when it opens its doors each May to all of the company’s shareholders who want to come.

The jewelry store plays host to a cocktail party on Friday night and a shareholder shopping day on Sunday. Both events spill into the mall, which is closed to the public, and into the parking lot. “We really look at this from a hospitality approach,” says Adrienne Fay, director of marketing and business sales. “We want to thank the shareholders for their loyalty and patronage.”

This year there were 100 jewelry, watch and gift vendors, some of whom brought in products for their trunk shows that wouldn’t be seen anywhere else in the U.S., Fay says. “You’ve never seen jewelry cases as packed as they are during Berkshire weekend. We call it our Christmas in May. We do a transaction every 11 seconds during the weekend.”

STAFFING

For weeks leading up to the event, job descriptions blur as every employee plays a role from helping with catering to managing vendors. They hire additional staff for the weekend, ask corporate staff to work the sales floor and bring in runners and cashiers.

“The last thing we would want to have is someone standing around and no one able to help them,” says Jaci Stuifbergen, who guides Borsheims’ experiential marketing. “Everyone involved is a representative of Borsheims, from those setting up a large tent to those providing food and beverages. We want every caterer to represent Borsheims well and have the same customer-focused mindset that we do the whole time they are here.”

ENTERTAINMENT

Even though it’s a private event, shareholders are under no obligation to buy jewelry. So creating the right customer experience is vital in this, as in any, event situation. “Whether it’s a regular trunk show or during this event, the thing we want to provide is a really great experience,” Stuifbergen says. “We know they could buy this jewelry from other stores or on the Internet, but what we have to offer are customer service and knowledgeable staff. Complimentary alcohol never hurts!” she says.

It might be the only chance to convert shoppers. “It’s such a destination store that for a lot of people, this is the only time in the year, or maybe in a decade, that they come here,” Stuifbergen says. They set up two bars and two buffet lines in the parking lot under the biggest tent they can rent. Sunday’s party often features Bershire Hathaway CEO and Chairman Warren Buffett playing bridge or table tennis with Bill Gates, Microsoft founder. There’s also a live band and a magician. On Friday night, the caterer serves more than 25,000 meatballs.

BRAND IDENTITY

The shareholders, who are Warren Buffett groupies, want to buy anything that’s affiliated with him, from pearl strands with his signature on the clasp and diamonds with his signature laser-inscribed inside to affordable gift products stamped with his face or the company logo. Last year, they used a custom etching machine to inscribe personal messages inside the diamonds while customers waited.

DEBRIEFING

Almost immediately after the event, everyone in the company is asked for input and feedback, which is compiled into a seven or eight page document and carefully analyzed. Feedback has led to changes like improved security and gift bags for vendors as a token of appreciation.

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