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What’s the Story – Selling Diamonds

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Everybody sells diamonds, so how do you stand out from the crowd? On Friday at The SMART Show in Chicago, diamond expert Maarten de Witte said if you can tell your customers a story — put a story in their head that they’ll want to share with their friends — they’ll buy from you.

Right now, de Witte says, two stories dominate the industry. The first and most prevalent is “I got a deal.” A guy researches the 4 Cs, shops around, and gets to brag to his buddies that he got a high-quality stone for a great price. But the end result of selling based on the 4 Cs is that diamonds are becoming a commodity, with a much smaller profit margin.

Brands are the second big story. Where the 4 Cs is a story about what a diamond is, brand is a story about what the diamond does. Brands can differentiate you, can offer cachet and personality, but they can be harder to sell to consumers who aren’t specifically looking for them because they usually come with a higher price tag.

Your option besides selling on the 4 Cs and brands is to think about different stories for diamonds. One way to do that is to think beyond 1 ct. G SI1 stones being marketed to brides. “If you want to own a market, the best thing to do is to create one,” de Witte advises. “Then you own it even if other players come in — they’re copycats and you’re the original.”

Consider these ideas:

Very few jewelers try to sell men any jewelry. But ust a few decades ago, it was men who had the biggest diamond rings — Masonic and university rings and the like. Lots of L- and M-color stones are being sold these days. There’s a new breed of customer who doesn’t care about having a bigger stone than her girlfriend; she wants something with personality. Todd Reed is doing great business selling organic diamond jewelry that appeals because of its rawness.

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“I have yet to find a go-to promise ring,” de Witte says. When a high school couple comes in, a jeweler usually scrambles to stick a piece of melee on a ring to make it look like a smaller engagement ring. There’s no natural choice.

Diamonds can symbolize achievement. If a guy wins an Ironman competition, isn’t that worthy of celebrating with a diamond?

Engineers are famously hard customers. De Witte sold one a synthetic diamond, and the customer loved it. We can pooh-pooh synthetic diamonds and complain they’re going to ruin the industry, or we can embrace that it’s amazing that scientists can create diamonds this way and impress some of the most difficult customers with them.

“There’s a seat for everybody at the diamond table — not just bridal,” de Witte says. “Every kind of diamond can be sold, not just the ones on the Rap sheet. But it takes some work.”


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Wilkerson Testimonials | Zadok Master Jewelers

Stick to the Program — And Watch Your Sales Grow

When Zadok Master Jewelers in Houston, Texas, decided to move to a new location (they’d been in the same one for the 45 years they’d been in business), they called Wilkerson to run a moving sale. The results, says seventh-generation jeweler Jonathan Zadok, were “off the charts” in terms of traffic and sales. Why? They took Wilkerson’s advice and stuck to the company’s marketing program, which included sign twirlers — something Jonathan Zadok had never used before. He says a number of very wealthy customers came in because of them. “They said, ‘I loved your sign twirlers and here’s my credit card for $20,000.’ There’s no way we could have done that on our own,” says Zadok. “Without Wilkerson, the sale never, ever would have come close to what it did.”

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David Squires

What’s the Story – Selling Diamonds

mm

Published

on

Everybody sells diamonds, so how do you stand out from the crowd? On Friday at The SMART Show in Chicago, diamond expert Maarten de Witte said if you can tell your customers a story — put a story in their head that they’ll want to share with their friends — they’ll buy from you.

Right now, de Witte says, two stories dominate the industry. The first and most prevalent is “I got a deal.” A guy researches the 4 Cs, shops around, and gets to brag to his buddies that he got a high-quality stone for a great price. But the end result of selling based on the 4 Cs is that diamonds are becoming a commodity, with a much smaller profit margin.

Brands are the second big story. Where the 4 Cs is a story about what a diamond is, brand is a story about what the diamond does. Brands can differentiate you, can offer cachet and personality, but they can be harder to sell to consumers who aren’t specifically looking for them because they usually come with a higher price tag.

Your option besides selling on the 4 Cs and brands is to think about different stories for diamonds. One way to do that is to think beyond 1 ct. G SI1 stones being marketed to brides. “If you want to own a market, the best thing to do is to create one,” de Witte advises. “Then you own it even if other players come in — they’re copycats and you’re the original.”

Consider these ideas:

Advertisement

Very few jewelers try to sell men any jewelry. But ust a few decades ago, it was men who had the biggest diamond rings — Masonic and university rings and the like. Lots of L- and M-color stones are being sold these days. There’s a new breed of customer who doesn’t care about having a bigger stone than her girlfriend; she wants something with personality. Todd Reed is doing great business selling organic diamond jewelry that appeals because of its rawness.

“I have yet to find a go-to promise ring,” de Witte says. When a high school couple comes in, a jeweler usually scrambles to stick a piece of melee on a ring to make it look like a smaller engagement ring. There’s no natural choice.

Diamonds can symbolize achievement. If a guy wins an Ironman competition, isn’t that worthy of celebrating with a diamond?

Engineers are famously hard customers. De Witte sold one a synthetic diamond, and the customer loved it. We can pooh-pooh synthetic diamonds and complain they’re going to ruin the industry, or we can embrace that it’s amazing that scientists can create diamonds this way and impress some of the most difficult customers with them.

“There’s a seat for everybody at the diamond table — not just bridal,” de Witte says. “Every kind of diamond can be sold, not just the ones on the Rap sheet. But it takes some work.”


{JFBCLike}

Advertisement

{JFBCComments}

Advertisement

SPONSORED VIDEO

Wilkerson Testimonials | Zadok Master Jewelers

Stick to the Program — And Watch Your Sales Grow

When Zadok Master Jewelers in Houston, Texas, decided to move to a new location (they’d been in the same one for the 45 years they’d been in business), they called Wilkerson to run a moving sale. The results, says seventh-generation jeweler Jonathan Zadok, were “off the charts” in terms of traffic and sales. Why? They took Wilkerson’s advice and stuck to the company’s marketing program, which included sign twirlers — something Jonathan Zadok had never used before. He says a number of very wealthy customers came in because of them. “They said, ‘I loved your sign twirlers and here’s my credit card for $20,000.’ There’s no way we could have done that on our own,” says Zadok. “Without Wilkerson, the sale never, ever would have come close to what it did.”

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