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Tip Sheet

Tip Sheet: January 2005

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Four fresh ideas to better your business

[componentheading]INCREASE WEB TRAFFIC[/componentheading]

Want web traffic? Here’s a strategy used (very, very) successfully by American Express to draw surfers. They sold three $42,000 BMW Roadsters for only $4,000 each. First come, first served. To spread the massive traffic-load out, they sold one at noon, one at 4 p.m. and one at 9 p.m. Perhaps you might try a similar approach with diamond rings?

Source: Rick Segel

[componentheading]MARKET TO THE MIDDLE[/componentheading]

How can you reach a 19-year-old undergrad, a 31-year-old on the career path, and a 47-year-old who’s raising a toddler — with a single marketing message? The answer, according to a recent Los Angeles Times analysis: market to all of them as if they were 35. Why it works? Because these days, youngsters are more conservative, dressing in preppier styles and looking to the future, while aging Boomers are the opposite, shooting Botox, popping vitamins, and hanging on desperately to their youth.

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Source: Instore

[componentheading]ERR TOWARD AUTONOMY[/componentheading]

Something to remember for those of you who are breaking in new employees this month. Remember: It’s easier to give employees autonomy and freedom than it is to take it away. So, clearly state directions and expectations when employees are new to their jobs. Then, let autonomy and flexibility be an earned right of their performance.

Source: Bob Nelson, 365 Ways to Manage Better

[componentheading]ON THE OTHER HAND[/componentheading]

Sell right hand rings? To pump up your sales, why not try the strategy used by the manufacturer Caressa, which has labelled a different right-hand ring design for each day of the week? For completists, simply having Friday’s ring won’t be enough … they’re have to have Monday’s, Tuesday’s, etc.  

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Source: Instore

[span class=note]This story is from the January 2005 edition of INSTORE[/span]

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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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Tip Sheet

How to Engage Clients in Conversation, Being More Productive, and More Tips for October

It’s also a good idea to hold store sales prior to December.

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HUMAN RESOURCESBonuses? Let them Eat Cake

Bonus season is on the way in many parts of the country. If that includes your business, something to think about: When unequal rewards are given out, there will be less dissatisfaction if they aren’t actually countable, says Kellogg Management professor Neal Roese. Research showed people who received less cake than counterparts weren’t as dissatisfied as those receiving less cash, focusing more on what they received rather than what they didn’t, he writes in Kellogg Insights.

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

SALESFlip the Script

Instead of asking your customers small-talk questions, such as “How’s work?” or “How are you?” try big talk, says Judi Holler, author of Fear Is My Homeboy and a speaker at the recent Jewelers of America National Convention. She recommends questions such as, “Are you working on anything exciting lately?” or “What was the highlight of your day?” It will make you memorable to your customer. You’ll engage your customer more personally and learn something new, too.

PROMOTIONSAvoid December Sales

Don’t plan a big sale for December, says Deric Metzger, owner of DeMer Jewelry in Carlsbad, CA. Customers have depleted their holiday funds by then and you’ll have no time to complete a custom order should you get one. His advice? Get in early. “We offer our final sale of the year in October (and advertise it as such) to give people a jump on the holiday season,” he says. “It relieves the stress of the last-minute rush for them and us. Plus it eliminates most of the haggle-over-every-dollar attitude that frantic shoppers seem to get the closer it gets to the end of the year.”

EXPERIENCECreate a Virtual Storefront

Include a photo of your storefront on your website, along with text-based directions. It makes it easier for shoppers to find your store and eases threshold resistance, participants at the recent Stuller Bridge Conference heard.

PERSONALRekindle the Joy

Do one thing every day that you loved as a kid. “This is usually the fuel that can power your life,” writes entrepreneur and business author James Altucher on his blog.

PRODUCTIVITYThe Decision Hour

Once a week, spend an hour making choices. A lot of things masquerading as “things you have to work on” are really decisions you need to make, notes Steve Chandler in his book Time Warrior. Many can be made instantaneously; the notion that you need to gather more information is often an avoidance technique. Make it a game: challenge yourself to make as many decisions as you can in an hour, and see how many items you can nuke from your list. It’s weirdly energizing, he says.

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Tip Sheet

How to Sell More “Spa Treatments” for Jewelry, and More Tips for September

Millennial shoppers respond to education, privacy and transparency.

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TIME MANAGEMENTAim for Busy, Not Rushed

How should you strive to feel when working? Busy, but not rushed. Research undertaken by the University of Maryland found this is when people are happiest. And when you’re happiest — meaning engaged and in the flow as opposed to giddy with joy — you invariably do your best work. So, start creating realistic schedules, stop checking email every 15 minutes, take breaks to exercise, and stop letting other people set your deadlines (yes, you could finish the job by tomorrow, but Friday is best for everyone.)

MARKETINGA Time for Pampering

One of the key challenges at this time of the year is how to get customers in the door. The Gem Collection in Tallahassee, FL, does it with a “Spa Treatment” for rings. The treatment, which is recommended annually, includes inspection of stones by hand, ultrasonic cleaning, steaming of the stones to remove excess dirt, refinishing to remove scratches, polishing the ring, and for white gold jewelry, a rhodium finishing, all for one price. “The spa treatment name was used so that the customer feels as if their jewelry is being pampered instead of worked on,” explains co-owner Don Vodicka. “This has raised our repair sales and keeps our customers very happy.”

MARKETINgShout It in Brass

If you buy your diamonds from Antwerp, it’s always a good idea to let the world know about it. Molinelli’s Jewelers in Pocatello, ID, actually has it in brass letters on their wall.

SALESLaying on a Bridal FeasT

Showcases — who needs them? That’s the diamond-selling approach at Siegel’s Jewelry in Paso Robles, CA, where customers are encouraged to sit with staff at a custom-made, long community table to discuss jewelry. “I designed my store with a lot of seating space in order to show diamonds effectively, and to make my employees and customers more comfortable,” explains owner Ken Siegel.

STRATEGY“How” is the Enemy

Something all true entrepreneurs know: “How” is the enemy. “We always want to know how things will happen,” says Claudia Azula, a popular podcaster and co-author of the Power Of No. “But how is the enemy because it blocks the possibilities that open up when we are willing to not know. When you don’t know about tomorrow, all you can do is focus on doing your best today.” Stop thinking, Just go do it.

SALESKeep Me Safe and Prosperous

Buy an engagement ring at Eichhorn Jewelry in Decatur, IN, and you also get a “Keep Me” — an original document that travels with the piece of jewelry. The paper “encourages customers to spend dollars by emphasizing the legacy aspect of their purchase,” explains owner Eileen Eichhorn.

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Tip Sheet

Saving the Boring Jobs for the Office, Watching TV with Purpose and More Tips for July

Plus, how to use questions to make yourself a better listener.

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personalDo Down Time With Purpose

Approach this summer with more purpose, recommends Greg McKeown, writing in the Harvard Business Review. “That means if you decide to watch TV, really watch it. If you are having a meal, take the time to enjoy the meal.” Of course it also means making a choice: do you want to spend your summer downtime in front of the tube? We’re going to hazard a guess the answer is no. Go schedule some activities that ensure you fully recuperate this summer.

EVENTSMake It Light-Hearted

Orin Jewelers in Northville, MI, understands that at its heart, shopping for jewelry should be a joyful experience. To support that message, it tries to add a lighthearted touch to city events by doing something fun in the store, say owners Orin and Tina Mazzoni. “Example: when a citywide ban was put on serving wine/drinks to women at the annual Girls’ Night Out, we all dressed as if it were the Prohibition and served root beer and sparkling wine.” How does your fun game compare?

LEARNINGUp Your Reading Game

Want to read more? Try what serial entrepreneur and business author James Altucher does and read about 30 pages of five books each day. Given the average American reads about 250 words a minute, or about a page a minute, that’s two-and-a-half hours. Don’t have that much time? How about 25 pages of three books? That’s little more time than it takes to watch an episode of The Real Housewives Of New Jersey.

PRODUCTIVITYHome Is Where The Creativity Is

Here’s a neat rule to get the most out of your work day (for people in a position to pull it off, meaning business owners): Do creative work at home and boring work, where you may need some compulsion, at the office. According to a report in the Wall Street Journal, researchers found that when it came to creative tasks, people were 11 percent to 20 percent more productive outside the lab. For rote and repetitive tasks, however, they were 6 to 10 percent less productive when not in a formal work environment.

SALESIs That So?

In The Patterson Principles Of Selling, Jeffrey Gitomer suggests training yourself to be a better listener by asking a question at the end of your customers’ statements. If you make your own statement, it’s possible you are interrupting. But if you ask a question, you almost have to wait until they’re finished speaking.

SERVICEDon’t Band-Aid A Gunshot Wound

When it comes to repairs, it often pays to look beyond the customer’s specific request, says Bruce Goodheart of Goodheart’s Jewelry in Overland, KS. “Don’t fix one prong when there are 20 other prongs you need to re-tip. You don’t need the headache, and it will show how professional you are. You have a reputation to uphold, and you can’t put a Band-Aid on a gunshot wound.”

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