Sales Strategy
Be Memorable! | October 13, 2021 (0 comments)
Encinitas, CA—Creating memories is what our industry is all about. Customers commemorate love and special occasions with a piece of jewelry to hold the memories near for years to come.
Whether your customer is shopping for an engagement ring, anniversary ring, or even buying for themselves - the purchase is significant to them. They are most likely creating or celebrating a special moment or memory. You and your store should be memorable too.
In today’s world it doesn’t take much to stand out from the competition. Making yourself, your store, your merchandise, and the buying experience memorable will not only exponentially increase sales but will produce word-of-mouth advertising and testimonials which creates long-term customers.
How are you and your staff preparing for this holiday season? Are you expecting customers to respond to your standard advertising campaign or are you planning to reach out to them in a new and clever way? Are you assuming that since sales have been good this year then December sales should be even better?
To some degree you would be correct. Last year was exceptional because our biggest competition - travel - was out of the game. Travel is long from recovered and now other big-ticket items such as automobiles, appliances and furniture are experiencing long wait times for availability. Such circumstances put jewelry in a prime position yet again. You can ensure your success and put another amazing Christmas on the books with active personal service and good preparation.
Actively connecting with customers will make the difference in a good or a great fourth quarter this year. When asking retailers for reasons why they do not actively reach out to customers, the most popular excuse is, “We don’t want to bother them or be pushy.”
A genuine phone call will never be pushy but is an investment in the relationship and your store. I recently was told of a long-time customer and very big spender that was planning to take her business to the next town over. She wasn’t “unhappy” with her experiences in the two decades plus of purchases with her jeweler, she just didn’t feel a connection anymore. She had received a few texts over the past year, but for her that was impersonal and put her off. The takeaway here is that it’s very important to ask your customers their preferred method of contact and make sure to use it.
As a result of the pandemic, people have a new appreciation for relationships and loved ones while many are feeling a disconnect to society. Consumers are more open than ever to a kind word or gesture and certainly to a smile. By creating a unique ‘experience’ you have the opportunity to be memorable in even more impactful ways than you have been before, and you can remain "top-of-mind" in your community when it comes to making a special purchase.
Consider these two points and action items to capitalize on:
1. We find that 200-300 customers account for 70-75% of jewelers’ holiday sales
- Ask your staff to personally connect to their customers in this important group
- Make a strategic plan to reach them and find out what they have in mind for their gifts this year
- Brainstorm ways to cultivate these relationships and actions you can do to “WOW” them
- Use this month as a time to get their special requests filled
2. Many retailers will be experiencing inventory shortages this December
- Prepare a list of items that you have in stock to offer clients as alternatives if you have a problem
- Make sure you have merchandised deep in at least one strong category with “go-to” items in a variety of price points
- Hold regular staff meetings to keep them up to date on availability and substitute items
- Communicate specific guidelines for special orders to your staff (nothing worse than an order not arriving on time!)
As customers shop this holiday season, frustrations are likely to grow. Lack of well-stocked stores, fewer selections, and rising prices along with the general holiday stress offers a prime opportunity for you and your staff to become memorable in the most positive of ways. With a little personality, ingenuity, and effort you could own your town.
It’s there for the taking – the opportunity to win a customer for life. This is not that hard, but it does require planning and some effort. But what better way to round out 2021 and this two-year roller coaster we have been on, than with a spectacular year-end and the best reputation you have ever had?
Dan and Lori Askew of Vantage Group strategically examine each area of business and address concerns efficiently to make the greatest impact on cash flow, merchandise planning, inventory control, advertising, and store management. www.VantageGroupinfo.com