David Geller Why Asking A Client’s Budget Could Actually Make Them Happier In The End Their preconceived idea of cost could be getting in the way. Published 12 months ago on March 16, 2020 By David S. Geller Instore April 2020 Issue Share Tweet MANY YEARS AGO, I had saved up to buy the entertainment center of my dreams: a bigger TV, four speakers, a record player and the newest VCR machine. Then, I saw an ad — the biggest department store in town had all of that for the great price of $1,850. But when I got to the store, it just wasn’t up to par. So, we took ourselves and the ad to store two. Their $1,850 system wasn’t impressive either, so I decided to give up some money: “What can you show me for $2,400?” The salesman showed me almost to the penny his $2,400 system, and it still didn’t wow me. Jimmy Degroot Video: Sharpen Your Bridal Jewelry Presentations Jimmy Degroot Video: Maximize on the Opportunities That 2020 Brought the Jewelry Industry Jimmy Degroot Video: Sales Management Master Class Taught by Jewelry Professionals Begins Feb. 16 One last stop: Best Buy. I showed the salesman the ad and described what other stores had. He said, “Well, first let’s see what you might like in the television, as there are so many choices.” So, he took me to one area of the store that only had TVs. Size, quality, depth of color, and we chose a TV. He wrote it up on his order sheet. Then we moved to a room to listen to speakers. We didn’t choose the very high end, but we found a set perfect for us. Then off to choose a record player and VCR; this was easy. “Happy with these choices, sir?” Advertisement “Absolutely!” Then he showed me the order sheet, and they all added up to $3,000. Later they were delivered and set up, and I enjoyed this system for many years. Why was I looking for an $1,850 system? Because that was what was advertised. In addition, I had in my mind I wouldn’t exceed $3,000 — which just happened to be the Best Buy number. That’s why I didn’t get the higher-end speakers. Where did I get $3,000? I had opened a separate savings account at the bank. Of course no one ever asked me that. The Best Buy salesman ignored my $1,850 request and showed me better quality components, not competing with the low-end ad. In my book, he gets an “A”. Why not an “A+”? As a salesperson, I would have asked two more questions: Advertisement “Was the ad you brought in the reason for looking for an $1,850 system?” (I would have confessed, “Yes.”) “What was the budget you actually had in mind?” Knowing people in the jewelry business don’t like asking for budgets, here’s why he should have and how it could have made me happier. I had a $3,000 savings account and he had already led me down the road to ultimate satisfaction. He could have added this: “$3,000? Now I understand why you didn’t get the better speakers. May I suggest writing a check for the $3,000, and put the $500 speakers on our 90-day same-as-cash financing and make everything perfect?” If he had suggested it, I would have done it. Moral of the story? Those other stores could have made the sale easily if instead of showing me the price I asked for, they had shown me happy. Apply this concept to custom design. Start asking questions, finding solutions and writing them down on paper. Cost of time for design Metal type How many stones and what types Setting fees Add it all up. Listed separately, it doesn’t look like so much money. Advertisement Satisfy their happiness first; this overcomes price most of the time. Related Topics: salessales tipssales training click to Comment(Comment) Up Next Here’s How to Handle Abandoned Jewelry Repairs Don't Miss How to Safely Take In and Clean Jewelry From Your Customers During the Coronavirus Pandemic David S. Geller David Geller is a 14th-generation bench jeweler who produces The Geller Blue Book To Jewelry Repair Pricing. David is the “go-to guy” for setting up QuickBooks for a jewelry store. Reach him at [email protected]. Continue Reading Advertisement SPONSORED VIDEO Wilkerson Testimonials Retirement Made Easy with Wilkerson The store was a landmark in Topeka, Kansas, but after 80 years in business, it was time for Briman’s Leading Jewelers to close up shop. Third generation jeweler and owner Rob Briman says the decision wasn’t easy, but the sale that followed was — all thanks to Wilkerson. Briman had decided a year prior to the summer 2020 sale that he wanted to retire. With a pandemic in full force, he had plenty of questions and concerns. “We had no real way to know if we were going to be successful or have a failure on our hands,” says Briman. “We didn’t know what to expect.” But with Wilkerson in charge, the experience was “fantastic” and now there’s plenty of time for relaxing and enjoying a more secure retirement. “I would recommend Wilkerson to any retailer considering a going-out-of-business sale,” says Briman. “They’ll help you reach your financial goal. Our experience was a tremendous success.” You may like Take A Tip From A Massage Therapist 6 Actions That Could Improve Your 2021 Here’s What To Keep In Mind As You Prepare For Your Business Tax Return Promoted Headlines Digital Warrior: A Conversation with GemFind’s Alex Fetanat GemFind A Sales Meeting Platform for The 21st Century The Plumb Club With Average Retails of $250, This Is One Brand You Won’t Want to Miss! 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