Margins on diamonds have shrunk. So what else is new?
Margins on custom design work have always generated better returns. Another great thing about selling a custom bridal engagement ring is that unlike selling one from the case, you don’t need hundreds of thousands of dollars worth of inventory to make a $2,000 sale. Pictures, CAD programs, even a pad and pencil will do.
I did a survey a few years ago, and most jewelers said that two-thirds of their custom sales were between $750 to $3,000 with a 70 to 80 percent closing ratio.
So, how to enhance and increase this business and do it for free?
Use your own phone, camera or video camera to send texts or emails to your clients as their ring is being built.
At the start of the custom order process, be sure to get a cell phone number and email address. After the client leaves the store and while you are carving the wax or building the CAD file, have someone take a picture or short video of what you’re doing. In addition to allowing you to send email, most phones today feature a microphone icon that enables you to dictate a message.
“Hi Michelle, I’m working on the wax model now as you can see. Will contact you when it’s ready to view.”
Send this to the client; she will be ecstatic.
Time to cast the ring into metal? Take a video of the torch, melted gold and casting machine in action. Send this to the client
Then when the wax is ready to view, send a photo of the model. “OK, here it is, comment on it to give your OK. Feel free to share.”
People love to forward emails, texts, chats and Pinterest photos. Believe me, this will go VIRAL! One client will share with others. Don’t be the one to post it on Facebook. Let them do that.
Time to cast the ring into metal? Take a video of the torch, melted gold and casting machine in action. Send this to the client (in fact, you can send anyone this video). Do the same with the file-up and setting stages. Once finished, show the ring up close in a video or photo and send it again.
This will make it special for the client. If it’s for a surprise proposal, they can share the videos and pictures after she has received the ring.
And don’t stop there; do this smartphone marketing for all your custom jobs. Keep customers in the loop.
If the couple picks up the ring, get pictures and forward the images to them with their smiling faces. They will share.
At the bottom of the emails, add a button to share via Facebook/Twitter/Pinterest, etc. Also, add a certain dollar amount coupon for any of their friends to come in and have something custom made. Let the couple know that anyone coming in with a copy of their email or coupon will get a discount, while they’ll get some sort of future credit for sharing.
Keep that phone charged up!
David Geller is a consultant to jewelers on store management. Email him at dgellerbellsouth.net.
This article originally appeared in the August 2016 edition of INSTORE.