Connect with us

Tip Sheet

Watch Out For Those Good Deeds, Open Up That Case and More Tips

Be a shopping buddy!

mm

Published

on

GIFT RAPPINGBe A Shopping Buddy

A customer asks you to help choose a gift item for his wife and you think, Gosh, he should know her tastes as well as anyone. Truth is, spouses often don’t, according to a recent study published in the Journal of Consumer Research. The problem stems from a finding that when people know they don’t have the same preferences as their partners or friends they tend to rely heavily on lots of irrelevant pre-stored information rather than trying to recall recent feedback. When a customer asks for your advice, the best course of action might be to suggest he or she try to remember a specific comment the intended recipient made about jewelry. This way, you may avoid selling a gift that never gets worn or worse, comes back as a return two weeks later.

OPEN AND SHUTTake Out the Stalker

Here’s a neat trick when you’ve got a “just looking” customer who seems interested in an item but reluctant to ask to see it. Casey Gallant of Stephen Gallant Jewelers in Orleans, MA, suggests that if the person moves on from the case you go over and open it up and pretend to rearrange something. “For some reason the customer feels they are bothering you just to open the case,” Gallant says. “But when you already have it open they are not too shy to ask to see something. It’s covert and they don’t feel like they are being stalked.”

YO MOMMAFine Talent in the Home

If you’re trying to keep your payroll expenses down but are still in need of high-quality staff, here are some strategies from allbusiness.com to consider:

Keep an eye out for “Mommy Trackers” — smart women who’ve left corporate positions to start a family or be closer to their children. They can make excellent part-time managers, especially when it comes to areas such as technology and marketing.

Get referrals from employees — and don’t be afraid to hire relatives of good workers.

NO GOOD DEED …Protect Yourself

What’s the single biggest thing that prompts an IRS employer audit? According to Eva Rosenberg, author of Small Business Taxes Made Easy, it’s when a non-employee is let go or gets sick and files for unemployment or disability insurance. This may have even been a friend you were helping out. But when they realize they need to have been formally employed to pick up government assistance they will often file — and turn you in. To protect yourself you need to be able to prove the person was an “independent contractor.” That means a Form W9 (a request for taxpayer ID), a business card, and maybe even a contract.

Advertisement

ENGAGED BUT NOT WEDTrump the Rivals

In its most recent marketing campaign, the Platinum Guild International (PGI) highlighted a survey from theknot.com that found almost 40 percent of engaged couples buy their bands at a different store from where the engagement ring was purchased. The PGI wanted you to chase up these customers and sell them more of the white stuff. But the finding also suggests that for stores that missed the original sale, marrying couples still make a great prospect. To get leads on these potential customers, check the engagement announcements in your local paper or consider partnering with a bridal-gown business, wedding planner or caterer.

PLAYER STATSStart Keeping Score

Salespeople love to keep score. So why not indulge their competitive nature with stat sheets, ala the NFL. Post weekly reports showing total yards gained (dollar sales), touchdowns (sales closed), conversions (add-ons), turnovers, fumbles and so on. Offer small prizes to keep it fun and lighthearted. Too much rivalry can undercut sales floor cooperation.

Abe Sherman is the CEO of BIG - Buyers Intelligence Group. BIG designs solutions for the merchandising challenges facing retail jewelers and manufacturers. BIG utilizes a data analysis tool, Balance to Buy, to help consult with clients and customize their individual experiences and results.

Advertisement

SPONSORED VIDEO

Wilkerson Testimonials

Gone Fishin’ (Thanks to Wilkerson)

Whether you want to go fishing — or enjoy some of the other good things life has to offer — you can take a cue from Jim Adair and choose Wilkerson to run your retirement sale. After 38 years in business, Adair decided it was time to enjoy some free time. His Missoula, Montana store, Adair Jewelers, will stay in business but without him at the helm. It was the perfect opportunity to call in the experts in retirement sales. Adair says he spoke to a lot of people who have done retirement sales to help him make his decision and he chose Wilkerson. “Wilkerson seemed to have the best set up, the best organization, the most current marketing of any of them,” he says. “If you want to run a successful sale, you have too much money on the line to be screwing around with trying to do it yourself.”

Promoted Headlines

Most Popular