Selling Design: Nick Failla

Published

11 years ago

January 14, 2013

INSTORE Staff

Selling Designs
Nick Failla

BY THE INDESIGN TEAM
Published in the January-February 2013 issue

INVITE YOUR CUSTOMERS TO JOIN THE CLUB

People don’t buy brands, they join them! When marketing and selling luxury brands it’s crucial that you consider that distinction.

Consumers purchase luxury brands because they want to join the “club.” They want to be identified with the privileges and bragging rights that brand provides. Strong brands create emotional connections with consumers. As a jewelry retailer, you must ensure that the brands you sell are consistent with your core values and support your most important brand: your own store.

There are several resources you can use to identify which brands are starting to make an impact in the market, which ones are cresting and which brands are starting to lose their momentum. They include Twitter, Google, Google Adword, Yahoo, Facebook, and Pinterest. Using social media to identify what consumers are saying about brands you are considering helps you to make a more educated and targeted decision. Of course, another great resource is INDESIGN’s annual story on the 50 most visible jewelry brands (in your September/October issue or online at instoremag.com).

Not only should the brand be popular with the public, but the physical attractiveness of the product and the marketing campaign implemented by the manufacturer must be strong. This is the manufacturer’s responsibility, not the retailer’s. Retailers seduced by attractive products that lack dynamic marketing support might be disappointed by their performance. Independent retailers are not in the position to act as the sole marketing agents for brands.

as the sole marketing agents for brands. Finally, build a clubhouse. Give members of your brand a place to hang out and extol the virtues of club membership. Ways to provide this include using social media and in-store special events. These arenas deliver opportunities for retailers to stay connected to their consumers and provide forums for current clients to invite new people to join.

THIS MONTH’S EXPERT: Nick Failla, Founder, Collected Concepts

This Third-Generation Jeweler Was Ready for Retirement. He Called Wilkerson

Retirement is never easy, especially when it means the end to a business that was founded in 1884. But for Laura and Sam Sipe, it was time to put their own needs first. They decided to close J.C. Sipe Jewelers, one of Indianapolis’ most trusted names in fine jewelry, and call Wilkerson. “Laura and I decided the conditions were right,” says Sam. Wilkerson handled every detail in their going-out-of-business sale, from marketing to manning the sales floor. “The main goal was to sell our existing inventory that’s all paid for and turn that into cash for our retirement,” says Sam. “It’s been very, very productive.” Would they recommend Wilkerson to other jewelers who want to enjoy their golden years? Absolutely! “Call Wilkerson,” says Laura. “They can help you achieve your goals so you’ll be able to move into retirement comfortably.”