close

Вход

Забыли?

вход по аккаунту

?

How to Effectively Market your Jewelry Store - Jewelry Marketing

код для вставки
В© 2010 www.jewelrymarketingsolutions.com
How to Effectively Market your
Jewelry Store
The definitive guide to marketing your
Retail jewelry store
Leanne Argyle (A.M.I)
Tony Argyle B.Comm. C.A(Ret)
How to Effectively Market your Jewelry Store
Whether you like it or not you’re in the marketing game ......................... 4
You’ve got to know what you want from your marketing ......................... 7
It’s not all about you-preparing marketing that works ........................... 11
Measure your marketing .................................................................................... 13
Make the buying decision a no brainer for your customer ..................... 15
Setting, and keeping to, a marketing budget ............................................... 18
If you want your jewelry marketing to work then use a database ....... 21
How to prepare a newspaper advertisement that works........................ 24
It’s time to spy on your customers .................................................................. 28
Simple steps to negotiating with your print advertiser ........................... 31
Where should you advertise?............................................................................ 35
Understanding the three types of customer ................................................ 37
How to get your advertising for free............................................................... 39
Your transition zone ............................................................................................ 41
2
How to Effectively Market your Jewelry Store
Conclusion ............................................................................................................... 44
About the authors ................................................................................................. 45
3
How to Effectively Market your Jewelry Store
Introduction Whether you like it or not
you’re in the game of
marketing
Marketing, for most jewelry retail businesses, is often the highest operating
expense after wages and rent, yet is one of the most unaccountable and
misunderstood areas for jewelry store owners.
Rent is carefully negotiated when the regular review comes up and the
productivity of staff members is always being discussed but when it comes to
advertising and marketing many jewelers don’t take responsibility for their
advertisements, or worse, just don’t do any jewelry marketing at all.
This often comes from a lack of understanding of the marketing/advertising
process and the fact that advertising is never a finished task. Staff can be hired,
or rent reviewed on a periodic basis, but marketing of the stores jewelry is
ongoing. Last month’s good jewelry promotion counts for nothing after the last
day of the month – you have to start the process all over again with a fresh
angle - a new method of getting the customer in-store.
There’s a saying in many sports that you are only as good as your next game
and marketing fits this to a tee. There is no ongoing applause once the jewelry
promotion ends –you have to start fresh whether you like it or not.
This constant need to market and reinvent promotions and advertisements
causes many jewelers to give up –they don’t have the skills to do it and don’t
appreciate the cost of failing to do so.
Yet we are all marketers.
4
How to Effectively Market your Jewelry Store
Regardless of our profession our objective is to persuade more people that we
have the solution to their problems.
Wikipedia defines marketing well when it says that marketing is used to create
the customer, keep the customer, and satisfy the customer. Marketing originally
grew from the professional approach of large organisations who, faced with
competition and an obsession with market share, changed from a production
focus (a focus on making products with little thought on who would buy them)
to a marketing focus (a focus on the customer).
Sadly many small and medium sized businesses, running as Ma and Pa
operations, have been much slower to appreciate the need to appeal to their
customers more and have lost market share to the majors as a result.
From supermarkets to hardware, the corner store has been replaced-in fact
wiped out –by the arrival of the conglomerate. Yet in the jewelry industry the
chain stores, although having a significant market share, have failed to take
over.
Of the almost four thousand jewellers in Australia less than a third are chain
stores –almost 2700 stores are still run as part of a family operated business or
by an owner who has only one of two stores.
Why has jewelry escaped the trend of so many other industries that have
become the sole domain of the large corporation?
One word – trust.
At the end of the day when a customer buys a diamond they don’t know what
they’re really buying. 99.9% of customers would have no way of knowing
whether they have been ripped off or not. There are few other products where
the customer is so reliant on the honesty and integrity of the vendor.
Because of this the idea of dealing with a jeweler who they know, with a
member of the community who attends the same clubs, who might worship at
the same church, or who’s children go to the same schools, provides comfort to
the customer that they have bought right.
This, and the last remaining vestiges of personal service, protects the corner
jeweler from chain store obliteration –however it can also be a cause of
downfall.
5
How to Effectively Market your Jewelry Store
This protection is a comfort, but still leaves too many jewelers content to
function with average profits in the clubby atmosphere that this protected
environment can bring. Too often these same jewelers feel they can get along
without it so they see no reason to try.
Sadly the game is changing. The wall of trust will not last forever with any
guarantee, and the jeweler whose marketing consists of opening the door and
waiting for the customer to walk in will go the way of the dinosaur.
Any jeweler in the future who is not spending at least 20-30% of their time
thinking, planning and strategising how to “create, keep and satisfy the
customer” will find the problem solved for them.
They will simply have fewer customers.
6
How to Effectively Market your Jewelry Store
To know your jewelry
marketing promotion is
working you’ve got to know
what you want from it
Like any journey you have to begin knowing where you want to get to; and
never is this clearer than with jewelry marketing. After all how will you know if
it is successful if you don’t know the definition of success? With that in mind
every jewelry marketing promotion needs to begin with a few basic objectives.
It is surprising how many jewelers don’t sit down and define exactly what they
want to achieve from their marketing. Then they complain they aren’t happy
with the results they get. How do they know they aren’t getting the right result
when they haven’t even decided what result they want in the first place?
What outcome are you after?
More money in the bank is a good start but sometimes the objective may not be
immediate sales. You promotion may be with the intent of building your
database and if so then it needs to be qualified and quantified. What type of
customers are you trying to attract? How many of them are you after? What do
you intend to do with them when you get them? Alternatively you may just
want to get rid of some inventory in which case profit or customer growth
would only be secondary considerations. Perhaps you are trying to change your
image or simply define it in the first place.
7
How to Effectively Market your Jewelry Store
If dollars is what you want then how much is enough?
With any jewelry marketing promotion the return needs to be in proportion to
the spend.
Rather than setting your budget for spending first you
should determine the level of sales you can realistically
expect and work backwards to then determine your
promotional budget.
All too often promotions fail to work because store owners were unwilling to
commit the funds to making it happen-and then wondered why the results were
disappointing. You cannot realistically expect a successful store wide sale when
you only run a few small adverts in the classifieds. Store owners often wait for
the results to happen before they are willing to commit finds. This is a little like
wanting the fish to bite before you put any bait on the line.
You sow what you reap.
If you believe that sales from a storewide sale could be $50,000 then you need
to budget your marketing accordingly. If you intend to special ten watches
purchased at a reduced rate then your budget needs to reflect the sales and profit
these ten watches can give you. (We have a neat little tool on our website to
help you with this). Setting the objective makes it a lot easier to determine how
much you should commit.
So how much should a promotion have spent on it relative to expectations?
Assuming revenue is the driving force then your expenses need to be in
proportion. There is little point in spending $3000 to generate a $2000 profit
(although this can happen).
The amount spent should be such that every additional $100 spent on
advertising will continue to generate a minimum of an additional $110 of
gross profit (hence after paying the advertising you will be left with $10 - or a
10% return ($10/$100) on your advertising “ investment”. This is on the
assumption you have very little extra expenses from continuing to increase your
promotional effort (all other set up and staff charges having been covered
8
How to Effectively Market your Jewelry Store
already). The rate of return on a promotion will diminish the more you spend on
it – the initial launch costs will take care of the bulk of revenue.
Sales Revenue per promotional $
spent
$1,000
$800
$600
Sales=Vertical Axis;
Spend =Horizontal Axis
$400
$200
$500
$450
$400
$350
$300
$250
$200
$150
$100
$0
$50
$0
Although a basic example the graph above shows that the first $50 spent on this
promotion fails to generate sufficient revenue to pay for itself. That’s because of
the cost involved in setting up a promotion in the first place. You have some
fixed costs like printing, staff etc that you will have to pay whether the sales
come in or not. The next $150 spent (up to $200 total) offers the best return on
investment from sales. Spending above $250 adds additional revenue greater
than the extra amount spent until the last $50 spent (going from $450 to $500)
only achieves an extra $50 in sales. At this point extra spending on the
promotion should stop as there is no longer enough profit to cover the cost.
Most promotional spends will fit the above model (the dollar values will vary).
But the question is how do you know when the spending should stop?
If your promotional spending is staggered this is not difficult.
A jewelry database mailout sent out in lots of 200 customers at a time, with
customers being mailed in order from highest spend/most frequent to lowest
spend/least frequent would be an example. In this case database mailouts should
continue progressively down the list of clients until such time as you reach a
level of client who doesn’t respond enough to provide that 10% return.
Likewise if running a weekly newspaper advert the advert should continue until
9
How to Effectively Market your Jewelry Store
such time as the response no longer provides the revenue sufficient to give you
that $110 gross profit for every $100 spent on the advert.
So how do you measure?
Very simple. Make sure what you are promoting can have its response
measured. If you advertise a ring then make sure you can measure the enquiries
for that ring, if you include a coupon offer then you can count the coupons
brought in. If your advert just wishes your customers a Merry Christmas then
you have nothing to measure. It is not difficult to measure the response from a
promotion if you advertise something that is measurable and every
advertisement, mail out, or flyer should try and do this by including a call to
action. In other words there is something that the customer needs to do when
they see the advert (normally its hurry into your shop today!).
The task of doing the measuring then comes down to your staff. They should
ask every customer who buys one simple question
“So what prompted you to come in today?”
They then need to record the answer to this question so the results can be
collated.
Is this easy to do? Yes, once it becomes a habit. Like all habits it takes a little
persistence to make it happen. Many stores fail to collect this sort of
information and often staff is blamed for not doing so. The problem, however, is
that there is no reinforcement of the request during the habit forming stage.
When staff are first forming the habit it needs to be reinforced daily until it
becomes automatic and they remember every time. This is one of the most
critical daily habits that staff can perform.
If you don’t know where your customers are coming from then how can you
attract new ones?
10
How to Effectively Market your Jewelry Store
It’s not all about youpreparing jewelry marketing
content that matters to your
customer
One of the cardinal sins of marketing is when stores get a little carried away
with themselves and forget what the objective of their marketing is –namely to
inform customers and potential customers about how you can solve their
problems. The key word is their, not your. Generating your revenue is a by
product of solving their problem. Customers, like all human beings, are only
interested in themselves and how their particular issue (i.e. buying the mother in
law a present) can be solved.
Yet time and time again you see newspaper adverts where the stores name is
written in bold type across the top of the advertisement, and the important detail
is left further down (or not included at all).
Advertising reps can be cunning where this is concerned –often selling
advertising to businesses by designing ads that carry the company name with
large photos of the owner. These sorts of advertisements are designed to stroke
the ego and often work, the advertiser finishes up paying for the thrill of seeing
their photo or company name in the paper, and getting a few golf colleagues
mentioning they saw it.
But does this satisfy a customer need? Of course not.
Your customers don’t need to see your name until they
know what it is you can do for them.
11
How to Effectively Market your Jewelry Store
Likewise they don’t care about your newest staff member, your family’s latest
addition (a kitten called Smiggles) or how you won the award for fastest pie
eater at the county fair.
A local real estate company sends me a weekly listing of their houses for sale
which I have subscribed to and am interested in. However they will often top
the newsletter with an update on how the two business owners horse has been
fairing in race meetings they have entered it in.
I don’t follow horses, don’t gamble and don’t want to waste my time reading
about it. I have never met the owners and they are not my friends. In an attempt
to build a relationship with a potential client they have run the risk of turning
people off.
Ask yourself, when did you last care if your tyre dealership bought another out
of town outlet? Or the vet’s daughter received a rotary exchange scholarship to
study overseas? These things are important when it’s the friends in your life but
not for people you do business with (that’s not to say you shouldn’t build a
relationship with your customers, in fact I will encourage that in future
articles!).
This can expose one of the dangers of a regular newsletter. Contacting clients
regularly is emphasized time and again by marketers but they sometimes forget
that it is more important to have something to say first. Regular contact is good,
but at a level that means something to the client. The commitment of a monthly
or bi-monthly newsletter creates the problem of what to put in it –and where the
human interest stories about Jane’s Aunt Hazels gallstones can finish up as top
story (alright I admit I’m getting silly here but you can see my point).
Ask yourself with any marketing material – if you received it from another
business would it be of interest to you? The old “do unto others” saying never
applied better than with marketing!
12
How to Effectively Market your Jewelry Store
Measure your marketing
If there is one thing that jewelry store owners and marketers, experience and
inexperienced alike, are guilty of it is not measuring the effectiveness of their
marketing campaigns. Sadly some see the creation of a campaign as an end in
itself, complete with pretty pictures, lots of colour and the store name in
flashing lights.
When it comes to getting feedback those in a position to know better (yes your
advertising reps) are strangely absent-either because they forget that getting
customers is the purpose or they are too scared to know the results.
No promotion or advertising campaign should be undertaken without a
measurable means of determining the results, either extra customers in store or
extra items sold. Forget branding –that is for the big boys. Seeing an advert as a
way of “getting your name out there” is pointless.
Every dollar spent should give you a measurable return on investment –
hopefully enough to pay for the cost...and that is the real measure as to whether
your marketing is working for you. Not how many successful campaigns you
can put together (although this has obvious benefits) but whether you can
measure what works and what doesn’t and are able to fine tune the efforts as a
result. You won’t get it right all the time
When it comes to measuring the effectiveness of promotions I am not entirely a
fan of using sales figures as a method, although often that’s all there is to go by.
This may seem rather strange as increasing sales is surely the objective,
however achieving an increase in sales depends on other crucial factors that
your promotion and marketing may not control. Are your staff up to the job and
are there enough rostered? Is your stock good sellers and do you have enough of
the product you may be promoting? I have seen many a good promotional
campaign destroyed because a store lacks competent staff or the right
environment, or the shop is a mess of three year old jewelry items.
13
How to Effectively Market your Jewelry Store
There is only one means of measuring whether a
promotion or advert has worked and that is whether
more customers come through the door. That’s all a
promotional campaign can do-the selling is up to you.
So how do you measure this? With an effective door counter.
By measuring the foot traffic through a store comparing day to day you can
soon determine whether visitor numbers are up as a result of a promotion or not.
Advertising will get them through the door, but it can’t sell the product.
Make sure you measure the right variable to decide if your marketing works for
you.
It would seem obvious that measuring foot traffic is a good idea for any storehow else would you know whether sales are slow? Is it because customer
numbers are down or because you aren’t successfully selling to the ones that are
coming in? Yet less than 5% of independent jewellery stores I have seen ever
have one.
It becomes even more critical at times when you are away. How often have you
returned from a week off and found that takings have been down? When you
ask the staff you get the standard answer “Oh it’s been pretty quiet while you
were away”
Yet you have no way of knowing if this is the case, short of a video camera, and
the time to watch several hours of footage. Having a measurement of foot traffic
will tell you whether that was the reality or not.
You would not go without a cash register to measure your sales so why go
without a door counter to measure your customer count? Without this
information half the ingredients to building a successful store are missing, and
your potential to grow will be limited.
14
How to Effectively Market your Jewelry Store
Make the buying decision a
no brainer for your customer
The number one factor that makes a customer hesitate from purchasing
from you is fear –sometimes fear that the item isn’t going to do what it claims,
but more often than not a concern that if they buy the item they will find
something better, faster, cheaper in a shop down the road…and having
purchased they are stuck with your item.
How often have you heard a customer say “Have you got something like….? I
saw it once in a shop and I’ve been looking for it again ever since”. You hear it
so often that it leaves you wondering why they didn’t buy it when they saw it.
Had that customer recognized they would never find that item again they would
have bought it straight away – but like most customers they felt that once the
purchase had been made they would have no escape should they find something
they like more, or simply decide they don’t want the item; the traditional
buyers’ remorse.
We are programmed almost, to immediately start having doubts once a purchase
is made. That feeling of excitement and certainty that existed before the item
was bought gives way to nagging doubt before the ink has dried on the
transaction, and the buyer often starts looking for flaws in their decision. You
even find purchasers who continue shopping for the item after they have
completed the transaction in an attempt to convince themselves they have done
the right thing – or hopefully prove that they haven’t.
In that frame of mind they almost always find a better alternative, because if
you look long enough something better will come along. I had a friend who
forever hung off purchasing a new computer fearful that the technology would
be outdated before they got it out of the box – that if they just wait another
month the latest version of Windows 2.56JNH would be available at half the
current price.
15
How to Effectively Market your Jewelry Store
Needless to say you have to make a decision at some point – the new users of a
technology often pay a premium for their desires, either through a more
expensive price before the product becomes mainstream or through flaws or
faults that are not yet ironed out. Jewelry doesn’t face this same issue but our
customers have been trained to have buyer remorse from their other purchasing
decisions – and they will make no exception for you.
So what if the risk was taken away from the buyer?
How? By guaranteeing them that should they be
unhappy, for whatever reason, with the purchase they
can return it, in the same condition, for a full refund.
Good news for them, but does that leave you without a sale? Yes, but only if
they return it. Statistically the chances of an item being brought back by a
customer is very low, the fact that they know they can (and keeping the
guarantee open for the longest possible period actually reduces the risk further )
actually makes it even more unlikely.
For every customer that does get a refund ( and again statistically a large
percentage of those who do want to make a return can be talked into accepting
another product instead) there are many more who say yes to the purchasing
decision because they know they can bring it back if they want to.
We offered a money back guarantee in our store and although we didn’t keep
statistics (and we should have) I would estimate for every customer we refunded
another ten customers made a purchase they would otherwise be reluctant to
make if the option of returning wasn’t there – and what do you really lose with a
refund?
Chances are it was a purchase you may never have made without offering it in
the first place.
Is a refund system open to abuse? Sure. But will it be? Less than 10% of people
will take advantage of your generosity in some way shape or form – because
that’s roughly the percentage of people who try to take advantage of others.
Let’s face it-no one buys an item of jewelry with the intention of taking it back.
We’ve all got better things to do with our time. Most people returning an item
of jewelry will do so for a genuine reason and would you really feel right
16
How to Effectively Market your Jewelry Store
making somebody buy something they no longer want? Hardly the way to build
long term customer satisfaction.
So take the risk away for your customers and place it on yourself. It’s a win/win
game for both of you.
17
How to Effectively Market your Jewelry Store
Setting (and keeping to) a
marketing budget
The easiest way to not break your marketing budget is to not have one!
Unfortunately this isn’t necessarily good business practice. Your marketing
budget is a little bit of a chicken and egg situation. Most budgeters,
Accountants, and finance experts recommend that a marketing budget be set as
a percentage of store sales – and there is some wisdom to this. The amount you
spend needs to be relative to the size of the business.
You also need to bear in mind your location – if your store is something of a
“destination” where rents may be lower but foot traffic light then you may need
to spend a little more on marketing to drive traffic to your door. If you are
paying top rent for a busy pedestrian zone in the middle of town you would
expect your location (and windows) to do a lot of the work for you.
That is why it’s best to combine rent and marketing into a combined percentage
when determining a ballpark indicator of a budget. As an approximate indicator,
if your rental is 8% of sales then you would want to spend no more than an
additional 3-4% on generating customers. If your rental location allows you to
get away with only 2% rental then you may expect to contribute somewhere in
the area of 9 or 10% in marketing costs to get people to your door ( less if you
have a great database marketing system). Together the percentage for both
should equal about the same.
The problem with setting a marketing budget relative to sales is it looks
historically – that is the figure is often set based on what the store has achieved
in the past. The reality is this is putting the cart before the horse.
Sales are a result of marketing efforts, not the other
way around.
18
How to Effectively Market your Jewelry Store
Putting the sales before the marketing is a little like letting how much fuel you
put in the tank decide how far you want to drive. By all means work out the
percentage, and keep the above percentages in mind as a guideline, but
determine what sales you could potentially achieve and set the marketing to
achieve.
A million dollar store will only become a two million dollar store when it
starts to act like it.
Too many owners see marketing as an expense that they need to reduce, when
in reality wise marketing is an investment that they need to nurture. If you are
not committing 12% or more of your sales to your combined rental and
marketing budget then don’t be surprised – you are not alone. The majority of
business owners commit very little money to marketing, regardless of where
they are located, for the very reason that they don’t understand its’ importance
or how it should be done.
They may try one promotion, which is often poorly thought out and executed,
then immediately scurry for cover complaining that marketing doesn’t work for
them. The reality is marketing does work –if it is done correctly.
The other risk is overspending on marketing relative to a budget that has been
set. I see no problem with continuing to spend money on marketing where the
profit earned continues to exceed the outlay spent ( if $100 can be spent and
yield $110 of gross profit (less extra expenses) in one week then it should be
encouraged –where else can you get this level of return on investment in one
week?). But often marketing budgets are exceeded due to a lack of
accountability or planning. This can be prevented by:
- Planning all marketing at least three months in advance (don’t fall
for the trap of the persuasive rep who walks in the door promoting a
feature the following week). Let advertising reps know your
timeframe for promotions and stick to it –they will stop bothering
you and pick on easier prey.
- Reviewing the monthly expenditure to determine how it compared to
budget
- Evaluating all advertising effectiveness to determine whether ongoing
advertisements should be continued
19
How to Effectively Market your Jewelry Store
- Looking for contra options where advertising can be paid for by
exchanging your product at full retail ( more on this in our ideas
section)
- Looking for more affordable marketing methods that can provide the
same or similar levels of sales
Like all expenses marketing needs to be budgeted for – but keep in mind this is
one of the most important areas that can change your level of sales so some
flexibility should be allowed. Keep a percentage of your marketing budget up
your sleeve for opportunities that may come along, perhaps a bulk buying
opportunity you can exploit or an idea that come to you during the year. Be
prepared to adapt as you go. Some of your ideas won’t work and you need to
cut your losses off before they get worse. We recently had a client who had
printed up 2000 mailbox flyers in high quality card to send to his database.
Unfortunately the cards didn’t include any call to action that would persuade
customers to come instore. We persuaded him that, rather than going to the
expense, of posting all 2000 out, he should test the card with a sample of 100
posted at a time to see if there was any reaction. By the time the third lot of 100
had gone out he realised that the cards were ineffective and called off the rest of
his mailings.
Was this a waste? Yes there were 1700 cards binned however given the cost of
print runs these extra one’s wouldn’t have cost as much each as the initial 300
sent. The positive was the postage saved had he decided to send them all at
once. It was a good lesson in the advantages of testing the market first, and it
meant he had more of his marketing budget available to spend in a more
profitable opportunity later.
20
How to Effectively Market your Jewelry Store
If you want your jewelry
marketing to work then use a
database
Suppose you had the chance to ask a group of jewelers how many of them had a
database? There would be a fairly encouraging show of hands
“OK” you say “that’s good. So how many of you send out information to your
jewelry database?”
The number would dwindle significantly
“Alright, and of those of you how many would send something more than 4
times a year to at least some part of your database?”
Your number would be getting lower.
“Hmmm, and of those who you who send something regularly, how many of
you include an offer for them to respond to?”
Maybe a couple of hands are still left
“And” you finish “that offer has a means by which you can test and measure its
effectiveness?”
Chances are, by now, you’ll be standing on your own.
Sadly this is a pretty typical response we get from most jewelers. There are a lot
with databases (most of them as clean as a kid’s bedroom) but few who actually
know what to do with their database.
21
How to Effectively Market your Jewelry Store
We make no secret of the fact we are big fans of databases and this should be a
key part of any stores jewelry marketing. It beats all other forms of jewelry
promotion hands down.
Why?
Because:
- It reaches your mostly likely customers directly , being those who
have spent with you before
- It is cost effective
- It is easily measurable
If you know little about database marketing then in summary it is the direct
contact (normally mail or email) with existing customers who you know have
purchased, or are interested in, your jewelry. When you consider most business
comes from existing customers, and it can cost you more than 6 times as
much to entice a new customer as it does to resell to an existing one, then
it’s easy to see the role contacting existing customers plays in any jewelry
marketing plan. Given over 2/3 of customers who stop shopping at a store do
so because they think the store no longer cares about them then keeping in
touch can be a good way of proving otherwise.
Database clients can be contacted in a number of ways including direct mail,
fax, phone or email. Of the four, email is becoming more popular as it is the
most affordable. Modern email tool such as Constant Contact or Swiftpage,
amongst others, can allow you to download databases into an email format that
allows you to contact customers while measuring the response rate from each
campaign (do they open the email? Do they follow through to the webpage?).
This can effectively measure whether your email contacts are working, aside
from the in-store response you may get from offers.
But be careful, all good database email marketing software allows customers to
opt out of receiving emails from you and once you lose them it is not easy to get
them back. Unlike a radio or newspaper campaign where they may not read you
this week but may read you next week, email opt outs stop you contacting the
22
How to Effectively Market your Jewelry Store
customer – period. This makes your content even more critical to make sure
customers find it interesting and continue to read them.
They need to know your emails are worth opening
Before you can target a database it is first necessary to have one. Many store
owners struggle to know how to collect customers names and addresses in a non
intrusive way. Generally if you give a customer a reason to provide it then they
will be happy to.
We would collect names in one of two ways –either by running an in-store
competition (and giving them the option of not receiving offers by post or email
as part of the form) or by stating that your products are exchangeable and have a
guarantee and that in order to record this it is necessary to have their name and
address. A good point of sale system makes it easy to gather customer data and
retain it for marketing purposes. All good systems include names, addresses and
phone number fields along with ways of cross checking their purchases against
other criteria so you can target customers with particular preference in your
marketing efforts. There should also be fields for anniversary and birthday
capturing. A high percentage of your good customers are happy to provide you
with these details –after all they trust you and who doesn’t like the thought of
being surprised with jewelry for a birthday or anniversary! Use your discretion
with who you ask – a first time or casual customer might find this sort of
question intrusive. Anniversary and birthday marketing is an extremely
effective means of promoting and should be developed as much as possible.
If you don’t currently have a database now is the time to start. It takes time to
build up sufficient names to target so starting as soon as possible is critical.
23
How to Effectively Market your Jewelry Store
How to Prepare a
Newspaper Advertisement
that Works
Easy isn’t it? You phone your newspaper rep, tell them what you want to run
when, and the rest is up to them. Problem solved.
Just don’t expect your cash register to be ringing if you use this approach.
You would expect that those who sell newspaper advertising would know how
to make effective adverts, that their design skills would be honed to a level that
meant bad adverts were largely eliminated and effective adverts would be all
that remains.
Sadly, there is only one criteria by which advertising reps are hired-because
they can sell. It matters not to the publication whether the adverts work for you;
their objective is to sell advertising space not to design effective adverts. If their
staff ever gets trained to design an advert (and I warn you this is unlikely) then
the chance of them ever using the information they are taught on a consistent
basis is fairly remote.
If you want to have effective advertising then you need to keep control of it
yourself. But what is an effect advertisement? There are a number of simple
steps that will make sure your advertisement is easily read by potential clients.
These are some of the key components that need to be followed:
1. Start your advert with any photos you plan to use. The eye is naturally
drawn to images first. If you have a headline above the picture the eyes
will either not see it or will have to go back up to the headline, then back
below the picture for the body copy. This is difficult for the brain to do
and the reader will lose interest quicker. Would you tire of a book where
every page you had to read the 5th paragraph first, then the third, then the
24
How to Effectively Market your Jewelry Store
sixth, then the first? Make sure ads don’t make the reader do the same.
You want them to follow from top to bottom
2. Don’t make barriers during the advert. A full stop at the end of your
headline encourages people to stop. Likewise a line drawn across the
page discourages them from reading on. Let it flow in an easy to follow
fashion. Having your advert boxed into several parts can discourage
reading. Let it flow
3. Put your store name at the bottom. Until the customer has bought in they
don’t care who you are. Show what you can do, then tell them where to
find it. Don’t let your ego get in the road
4. Don’t use reverse (white writing on coloured background) unless a
contrast is essential. It is harder to read. White space works best, the more
the better.
5. Don’t clutter your advert. Again if you have the room then white space
draws the eye rather than lots of words and images.
6. Make sure all the details are on the advert – phone address email etc.
Sounds silly but it’s amazing how often you can read in your mind what
you want to be there!
7. Get your staff to check the proof before running. It is very easy to read
what you think you are seeing. Sometimes fresh eyes will pick up on
mistakes.
8. Spend 50% of your time on the advertisement headline. Almost 80% of
potential readers will be lost if the headline doesn’t capture their
attention. The rest of your copy is nothing if the headline doesn’t compel
them to read on
9. You can never write too much-provided it is relevant. It will be of interest
to your market if it is the right content. Answer this question. If you were
suffering a life threatening disease and found a 7 page article about a cure
would you read it? Your customers are seeking the solution to a problem.
If they think you have it they will read on
25
How to Effectively Market your Jewelry Store
10.Talk benefits not features. The customer doesn’t care that the watch is
stainless steel and 30M W/R. They need to know it won’t break easily
when they are hammering a nail and they can wear it when they wash the
car
11.Make the advert emotional (but not soppy). You are selling emotional
products! You don’t buy a ring for its practical features –make your
advertisements appeal to your customers’ heartstrings. There is nothing
worse than an advert with a picture of a ring and a price beside it –
nothing about it compels you to buy. You are selling affection not
plasterboard –don’t sell it by the square metre.
12.Keep it simple! Being too clever can miss the point. Humour can be fine
but be careful with it
13.Don’t advertise. Educate. Be the expert and offer help and solutions.
Think about the problem your customer is trying to solve and you will
prepare a better advert. Remember jewellery is about trust and trust is
built when you show your customers what you can do for them
14.Try to be different from the competition. The success we had in
advertising the sale of our own home came from a number of factors.
Firstly we avoided the cookie cutter realtor page where all house were
listed in standard sized adverts with standard photos and content. We
placed it in the editorial section where it was on its own. Secondly we
made our advert larger to stand out. Thirdly we emotionalised it. By
featuring a photo of our kids by the pool and writing the storyline so they
were describing to readers what they loved about our home we appealed
more strongly to our target market –young families. We didn’t sell a
house we sold a home.
15.If it works KEEP RUNNING IT! If it doesn’t, then stop. How often do
we see an effective advert not repeated because the store owner thinks he
has to do something different? Lots! One of the most successful small
adverts in our local paper was run by a pharmacy promoting walking
sticks. The advert ran weekly for years. The pharmacist sold hundreds of
walking sticks from running this advert, enough to pay for his advertising
26
How to Effectively Market your Jewelry Store
dozens of times over – sales he wouldn’t have made had he stopped the
advert.
Like all other forms of marketing, you must measure the results. Make sure you
know if your advertising is working for you. Modify what you do and test it
again. It is too much money to leave unaccounted for.
27
How to Effectively Market your Jewelry Store
It’s time to spy on your
customers
No, this is not an article on reducing shrinkage and shop theft or how to increase
the security in your store. Spying is a little strong here –observing is a far more
accurate term to use.
The question is why? Simply because so much can be learnt about a customers’
requirements, and the store performance overall, by carefully observing a
customer’s behaviour. There are four distinct areas where customer observation
can provide immediate benefits to a store understanding of customer needs –
and to the stores overall performance. These are the questions to ask-and
answer:
1. What percentage of customers leave the store empty handed? Or to
adopt the glass half full approach what percentage of people who walk
into the store buy something. Before you respond with the answer I here
so often “almost everybody buys from me” or start bandying around
numbers that are higher than 50% then let me assure you that if your store
is a jewellers that offers more than just repairs you will not come within a
bulls roar of 50% conversion rate on your customers – and I can safely
say that without visiting your store. In fact I would be willing to offer
$1000 to any jewellery store owner (under my definition of a jewellery
store) who can prove their store is able to achieve otherwise over a
concentrated period of time. In reality any jewellery store would do well
to convince 1 in every 5 customers to buy, however most stores don’t
know this because it is something they (and sadly most retailers) don’t
measure. The most effective way to increase your sales is to convince
those people who already come to your store to purchase more, or simply
to purchase at all. Thousands of dollars are spent by businesses driving
customers to their store while no thought is given to measuring and
converting the ones that are currently leaving empty handed. Which is
28
How to Effectively Market your Jewelry Store
easier-to persuade someone to come to your shop and buy, or to convince
someone who is already standing in-store?
2. How long do customers spend in-store? It’s a proven fact that the
longer a customer spends in a store the greater their chances of
purchasing. But how can you extend their stay if you don’t know how
long they are spending for a start? A great many factors contribute to the
length of time a customer spends in your store (and in fact the entire
topics of merchandising and store layout are largely about slowing down
the process and encouraging the customer to stay). By observing and
measuring you are able to determine a pattern of behaviours and common
factors that prevent your customers from staying longer
3. What percentage and how much do your customers interact with
staff? Again it is a proven fact that customer interaction with a staff
member will prolong the time they spend in store. What is your current
ratio and how can it be improved? It is also a statistically proven fact that
the greater the length of time spent interacting between the customer and
the staff member the higher the average sale that will be achieved. The
time spent building that relationship is as important as the quality of the
interaction
4. How long do your customers wait to be served or acknowledged?
This can be a crucial factor. Again it is proven and talked about time and
again that there is a limit to how long a customer will wait to be
acknowledged or served. Most customers in a retail jewellery
environment will give you little more than a couple of minutes. However
a customer who is acknowledged while they wait is prepared to stay at
least twice as long. What percentage of your customers receive
interaction from the staff. Please don’t say all –judging from the
percentage of interaction we have received worldwide the vast majority
handle this poorly
So how do you measure these statistics? It isn’t complicated, a competent and
well trained student can be paid for a couple of days to observe and record all
customers in your store –or alternatively if you feel this is intrusive provide
them with a couple of days of security footage (this gives them the added
benefit of pause and rewind). Gathering this information is not hard –
appreciating its importance and making the decision to gather is the first starting
point.
29
How to Effectively Market your Jewelry Store
Once you start to notice what your customers are doing you will suddenly
realise how things appear from their perspective. The window that is too low to
see anything in; the cabinets that don’t allow a pram to get past. At first you
may see nothing, but keep watching – you will learn more from these moments
than anything you could get from a customer survey.
Surveys often tell you what you want to hear – actions speak louder than words
30
How to Effectively Market your Jewelry Store
Simple steps to negotiating
with your print advertiser
If you use the print media as part of your jewelry marketing then you’re still
with the majority of jewelry store owners.
Despite the increased advertising cost and arrival of more and more
publications –both subscription and free –hitting our mailbox (not to mention
new forms of media such as the internet) the local newspaper still features in
most stores marketing budget, particularly if you live in smaller communities
where the dollar cost of advertising in the local paper is lower than metropolitan
dailies and the readership still relatively high.
So having decided to use the newspaper the first question is which one should I
use? If there is only one newspaper in town the choice is easier but even small
towns today often have one subscription daily and a couple of free community
papers.
Ask to see the audited circulation figures for readership. Depending on your
country most newspapers subscribe to a service where their circulation is
audited and assessed. This tells you how many subscribers the newspaper has
and if that number is rising or falling.
Ask also for details of their readership percentage and by age bracket.
Readership is more important than circulation – getting the paper into a mailbox
isn’t the issue it’s how many people in the household read it (and hence may see
your adverts). Some papers will be reluctant to provide you with their results,
particularly if their readership is falling, but be insistent. If they can’t tell you
how many readers they have then why should you spend the money to
advertise? A good paper will also know what days they have the best readership
so request this also.
Make it clear that you want to be contacted well ahead of the due date for the
advert and you want to see the advertising copy with time to spare. Our pet hate
31
How to Effectively Market your Jewelry Store
was reps that would walk in trying to sell space in a feature they were running
the following week –this is a recipe for unplanned and unrewarding
advertisements. We soon educated our reps that we worked a month or two in
advance and if they tried selling us advertising for the month we were already in
they were wasting their time.
Your promotion should exist with the advert backing it up, not the other way
around. All too often we see store owners agreeing to running adverts with no
idea what they will run in them. This is a little like loading the car for a family
holiday then trying to pick your destination once you’ve reached the freeway
out of town.
An advert serves a purpose; it is not a purpose by itself.
Don’t advertise just because you think you should, are felling pressured, or
haven’t run one for a while. Don’t fall for the branding trap.
Branding is fine if you are McDonalds or Coca Cola but
as a small business every dollar you spend on
advertising should produce sales results
Likewise don’t accept a first viewing of your advertising copy two hours before
the deadline –if you don’t get around to seeing it and it isn’t right then the paper
will try and blame you for not telling them. We made it quite clear that if we
initiated adverts with time to spare we would not accept proofs received within
a day of running as this left us no time for changes.
Remember you pay the money!
Once you’ve made a decision to advertise in the newspaper or magazine
then specify where you would like the advert to appear. This can be easier
said than done but is worth trying for. If you a running a Run of Paper advert
(which is amongst the editorial) we would always try to get into the front half of
the paper, where readership would be stronger (how often did you never get
around to finishing a newspaper?).
We always tried for bottom right hand page. The reason we try for bottom
right is most people turn the page by grabbing the bottom right hand corner –
this means the bottom right hand advert is what they see when they start to pull
32
How to Effectively Market your Jewelry Store
the page back. There is lot of research on whether the left or right hand pages
are the best read parts of the newspaper. Some say the right hand page is better
and others (often sponsored by the newspapers themselves) say both left and
right are equal. We’ll let you decide for yourself.
What size should the advert be? This depends on the results you are
expecting. A promotion to clear five watches purchased on special needs an
advertising budget that still leaves a profit on the five watches – a storewide sale
obviously can handle, and will require, a bigger spend. See our Marketing
“Reality Checker” n our website for a handy little calculator that will tell you
what you can expect from your spend.
If placing a half page advert, request a 40 by 7 advert (that is 40cm high by
7 columns wide –note some countries may specify their sizing in inches or other
means). The standard broadsheet newspaper is 56cms high by 10 columns wide.
This shape means the advert does not run the full width of the page and is
slightly higher than half the height of the page. A standard half page advert will
cover the full width (10 columns) and the entire bottom half of the page (28cms
high). The trouble with a half page advert is that the paper can place other
adverts above yours on the page - the 40 x 7 format (which is still the same size
but a different shape)makes it difficult to fit other adverts in and will often leave
yours as the only advert on the page.
Look to negotiate on repeat rates. A newspaper will often do a special price
for regular clients who are on contract to do a certain amount of advertising per
annum so getting a variance on the rate can be difficult –but still ask (they can
only say no).
Where you can negotiate more heavily is on repeat adverts, in other words the
price they charge to repeat the same advert again. It’s important to know that
the cost for a newspaper of running an advert again is no more than the ink and
the newspaper they use. The cost of setting the advert up has already been
charged to you in the first jewelry advert. We were always able to negotiate
very good deals (often half price) to repeat adverts run during storewide sales or
at Christmas. As our jewelry advertising was often a half or full page the
savings on this were quite substantial.
33
How to Effectively Market your Jewelry Store
Color is another area in which to negotiate. When a newspaper runs color on
a page the cost to have other parts of that page in color is negligible. Often
newspaper will try to find an advertiser to pay for the color on a page and if
they find two who will pay then its extra profit for them. If you can arrange with
another advertiser to both run color adverts on the same day in the same page
then you can share this cost and negotiate a discount. Better still see who
advertises regularly on the day and page you want and see if your rep will do
you a better price to put your color advert on the same page with them. You
may be able to arrange that they are subsidizing the color for you.
These simple steps will save you many dollars and make your jewelry adverts
more effective when running newspaper adverts. You will find some
newspapers more willing to be flexible than others – but if you don’t ask you
won’t find out.
34
How to Effectively Market your Jewelry Store
Where should you advertise?
This is one of the most common questions that many jewellers ask themselves,
and sadly is one of the key reasons why some don’t advertise at all.
With increasing numbers of publications, radio stations, the internet and other
means of communication growing the typical jewellery store owner has gone
from having two or three choices to now having dozens of options. The market
has become fragmented –but this can actually be a plus.
- Determine your target market. Seems obvious but it’s surprising how
few stores actually sit down and consider this question. The most
common answer is “everybody”.
I can assure you if you are appealing to everybody then you probably
don’t appeal to anybody! Look at the age, sex and financial status of
your clientele (no sophisticated survey required here-you should have a
pretty good handle after a day’s study). You will find from your clients
that there is a common type of customer coming to see you – and your
sales would reflect it. If you mainly dealing with baby boomers you
won’t be seeing too many engagement rings walking out the door.
Likewise if your target market is young singles then christening may not
be a big seller for you. If you don’t have a target market then get one!
- Determine which media aim at your target market. Simple I know but
how often does it not happen? Ask all media you are considering to
provide you with a demographic of their market. If they look at you
blankly then they are probably not the media for you! Work out which
media gives you the best scope for your target market
- Get readership/listenership numbers from the media concerned. All
print and radio media have this data gathered. Ask to see copies of their
survey or circulation results. If it cinema then ask for details of the
attendance over a specified period
35
How to Effectively Market your Jewelry Store
- Get a rate card/price list. This is the pricing for your advertisement on a
per cm or per play basis
- Calculate the customer ratio. Depending on the media you can now
calculate the customer return ratio, in other words what return you get for
every dollar invested. For example if a radio advert offers you a three
slots at $100 and they have a market of 4000 listeners then the cost of
reaching these listeners (on the assumption that three adverts will get to
the whole market) is $100/4000 or 2.5 cents per listener. If a newspaper
offers you an advert for $400 and they have a readership of 15000 people
the ratio would be 2.6 cents per reader. Now note these figures are
indicative only and cannot be taken in isolation. There are other factors
like how many times would an advert have to be repeated for everyone to
see or hear it, what size of length the advert is, when it runs that must be
considered but it is a start
- Ask for a trial rate. Make it clear to the advertiser that you are assessing
them. Ask for a trial rate and see what they will do (they can only say no).
If you wish to go ahead then run an advert that is measurable so you can
determine the response (i.e. perhaps a coupon offer) and make the offer
good (for example free watch batteries for one week only). You need a
good offer so it is the media that is being offered. A bad offer will not
work no matter how good the media is
- Determine the best time to advertise. When you advertise is as
important as where. Find the best days or times and enquire as to whether
you pay extra for these –sometimes it isn’t the case. Radio adverts during
the news can be good slots or sponsoring a section like the
engagements/births/ etc can be worthwhile. Some newspapers have free
extra supplements to none subscribers on certain days and your advert
will get to a wider market on these occasions.
36
How to Effectively Market your Jewelry Store
Understanding the three
types of customer
Not all your customers are of equal value to you. Yes, you need to treat them all
with the same level of respect and integrity, but there is an important difference
between the types of people who frequent your store.
The first I will call the customer. Customers are people who frequent your
shop on a non regular basis. You don’t know them and they don’t know you.
They are not lovers of jewellery and their reason for purchasing may be one of
two reasons: They are making a once in a lifetime purchase such as an
engagement ring (I never said they couldn’t provide a profitable sale!) or they
are fair weather friends –you only see them when you hold your annual sale or
there is a discount deal of some sort happening.
These customers have no loyalty or desire for a relationship with you and
sometimes can cost you more than they generate in revenue. They may
represent half of all customers who come into your store but only contribute
30% of your revenue (and even less of your profit due to the lower margins and
cost of acquiring them)
The second, I will call the client. These people are reasonably regular
customers. They know you and you know them. They may represent about 40%
of the people who visit your store and contribute around 40% of your stores
sales. They can sometimes be hard work (particularly with discount) but are
repeat visitors and although not restricting their spending to you they are well
disposed to shopping with you
The third (and most important) I will call the enthusiast. These people make
regular visits to your store and love jewellery immensely. You are often on a
first name basis with them and they generate lots of revenue and profit for you.
They will represent less than 10% of your client basis but contribute over 30%
of the sales and even more of the profit in your store (as you seldom have to
37
How to Effectively Market your Jewelry Store
market to get them back). They love to see what new items you are offering,
and when they buy they love to tell their friends about it. These people are a
walking endorsement for what you have to offer.
So how do you handle each category? Let’s focus on the enthusiasts. These
people are your lifeblood, but what is the reason they buy from you? There may
be all sorts of reasons but the predominant two will be these: they are passionate
about jewellery and you make them feel special. If there is one human trait that
motivates everybody it is the desire to be recognized and valued. These
customers may give reasons such as competitive pricing, or unique product lines
as why they shop with you but you and I know the same product (often at better
prices) can be found elsewhere. They love you because you love them back
(often without knowing it).
It is a mutual admiration society.
So if you want to grow your sales let the customers take care of themselves,
look after the enthusiasts like your life depends on it (they may spend even
more) and concentrate on finding those clients who are passionate about
jewellery that you can make feel more special – and you may find a lot more
converting to enthusiasts than you ever thought possible.
38
How to Effectively Market your Jewelry Store
How to get your advertising
for free
Preparing a press release can be a very effective way of gaining free publicity
for your store-and will generate more readership than any advert you run. Public
Relations is a multi-million dollar industry worldwide and often sounds like the
domain of large corporations with MBA personnel in expensive suits –but you
can make PR work just effectively for your small business as the big players do.
The first thing to bear in mind is that journalists are lazy – just like you and me.
If they can have someone else do all the work for them then so much the better.
They are also under tight deadlines and spend most of their time trying to find a
story worth writing. If you can deliver a good story in a format that is ready for
them to run then it’s all good for them - and you. (I �m not a journalist but the
majority of stories we provided to the paper about our store were run word for
word-remember lazy!)
Secondly you need to make sure it is a story, not an advert about your business.
Consider the topic and ask yourself would anyone else be interested in hearing
about it. One of the biggest problems (and this is true of marketing in general) is
when businesses get overexcited at seeing their name in print –and forget that
no one else could care less. The topic needs to be newsworthy-ideally with a
human interest element to it. If it isn’t appealing to people who don’t know you
then forget it.
Thirdly don’t wear your welcome out. If you rush to your local paper weekly
with a story about your business then they will soon get tired of you –and ignore
you when you do have something worth saying. Less frequent but quality
stories will serve you better than trying to milk it too hard. You need to be
subtle – if journalists or editors feel they are being exploited then they won’t
take your calls.
Fourthly, concentrate on cultivating a relationship. If you get to know your
business journalist or editor well then you will often find they will come to you
39
How to Effectively Market your Jewelry Store
for comments about retailing or the local economy in general. You’ve all seen
celebrities or business people who seem to become “rent-a-quote”. Every time
there is an opinion required in their field of endeavour they seem to get asked.
These people have cultivated a relationship with their journalists that is smart
PR. Thanks to the relationship we built with our local newspaper whenever they
were doing their annual December article on how Christmas trade was going we
were always one of the two or three stores they would ask –and we made sure
they had a photo which sometimes got run also. Front page advertising like that
in December just can’t be bought!
So what sort of stories do they want to know? If you’ve won a prize or award in
your industry this has appeal. Likewise if you have supported a charity or local
organisation this sort of feel good story is of interest. Personal stories about
yourself (you might collect 1920’s bowler hats) can be seen as a human interest
story to a journalist- and will create a positive association for your business.
Look for something a little different –we managed to get at least two stories in
every year by presenting the newspaper with what they wanted rather than
trying to come at it from our angle. Remember the story needs to be
newsworthy
40
How to Effectively Market your Jewelry Store
Your transition zoneKnowing where and when
your customers will buy
You didn’t even know you had a transition zone did you? Before you start
digging out the architects plans from the last store fit out, let me stop you
because you probably won’t find it labelled on there. The transition zone is the
entrance to the store – but more than that it represents the area inside the
doorway in which your customer makes the transition from pedestrian to
shopper.
The size of this zone will depend on the store – but it not only represents a
physical location but also a timeframe in which your customers are not ready to
purchase. For all my great admiration for McDonalds clever marketing it has
always astounded me at their inability to understand the transition zone. The
first thing you encounter with many McDonalds stores when you walk in the
door is the back of the head of the last person in the queue – in their interests of
achieving maximum return per square foot McDonalds does not provide a
transition area for pedestrians to become customers. They will argue that few
people leave as a result of this so by definition they will be right –but it doesn’t
always put the customer in the right frame of mind. The area where it is most
noticeable is the drive thru. In their wisdom they never seem to place a menu
board three cars back from the microphone when you have time to evaluate
what purchase you will make – instead your first sighting is usually at the exact
moment you are asked to place your order. Is this conducive to a good buying
decision? Given the spontaneous nature of many of McDonalds products I
would suspect they lose considerable money (and slow their queues up
considerably) by not providing their customers with more time to evaluate the
decision. If you’ve just negotiated a busy off ramp with two screaming kids
your head is not in the right place to make a purchase.
41
How to Effectively Market your Jewelry Store
Reducing the transition zone in your jewellery store is about getting your
customer to adopt the mindset of a shopper as quickly as possible. The further
they walk into the store in pedestrian mode the more products they will fail to
evaluate and the less responsive they will be to any approaches. Have you ever
been approached in a store literally as you’ve walked in the door? Annoying
isn’t it. Customers need time to slow down and take in their surroundings. You
can help achieve this with a few simple steps:
- Use flooring that emphasizes a flow between outside and in. Transitional
flooring may help to put the brakes on customers -not unlike the 80kph
signs before you hit the 50kph signs upon entering a town. It lets them
know they need to slow down and get ready to shop
- Lighting can be effective here too. Use lights that are a lower wattage
than the walkway but drop again upon crossing into the main part of the
shop
- Don’t try and achieve anything in the transition zone. Most customers
will be unresponsive to brochures or signage in this area and certainly
won’t be ready to look at detailed product like jewellery.
- If you have a closed front door (and you better be operating in sub zero
temperatures if you have!) then don’t put any signage on the door that
you expect them to read. They are looking for a handle at this stage, not
your stores current promotion.
- Use the transition area as a greeting zone (note I say greeting not sales).
Trying to sell here is a wasted exercise however handing chocolates or
having a doorman to say hello can help immensely with the transition
process. This may be costly all year round but worth considering for
promotions and at Christmas
- Get rid of the transition zone altogether. This can be achieved by putting
merchandise outside the front of the store, which will serve to halt
customers and get them into buying mode already
42
How to Effectively Market your Jewelry Store
Acknowledging your stores transition area is half the battle. It can prevent a lot
of unnecessary effort and customer frustration simply by realizing it exists and
taking steps to work within the boundaries that it presents
43
How to Effectively Market your Jewelry Store
Conclusion
We hope you have found value in the information in this book. Hopefully
you’ve developed an appreciation that marketing is more science than art –and
that, like a science experiment, if you follow a set formula you can achieve a
reasonably predictable result...within reason.
That said no one can be certain of the response to a promotion until they try it.
You don’t have to be perfect –the important thing is you take action and you
start now, and above all-you measure the results. The best marketers in the
world still get it wrong, but they test and measure and they learn from their
ongoing mistakes.
If there is one message we want you to take away from this it’s that you are a
marketer and that you do need to take steps to market your jewelry store.
Spending time developing, planning and implementing your marketing will pay
off with increased sales for your store.
Make the investment in time that will reap you the benefits you deserve.
For more help go to our website www.jewelrymarketingsolutions.com where
you can find articles, promotional ideas, documents, templates, tools and other
resources to help with the jewelry marketing process in your store.
44
How to Effectively Market your Jewelry Store
About the Authors
Tony Argyle B Comm. C.A (Ret).
As a qualified Accountant/CPA, Tony's background includes
a number of years in the CPA field, as well as corporate
management, along with a period as a Director of a national
jewelry franchise.
Since purchasing their jewelry store in 1996, Tony has developed a high level of
business marketing skill on a practical level. These skills set him apart from the
normal accountant giving him the unique combination of being able to create
effective marketing copy, and analyse the results, from a store owner’s
perspective.
Since selling their store Tony has been involved consulting with jewelry store
owners in New Zealand, Australia and the US on how to improve the
performance of their stores, and has contributed to a number of articles for
industry publications, both in Australia and the US
Leanne Argyle
Leanne has spent over 26 years in the fields of advertising
and jewelry retail, combining a unique understanding of
media marketing with the perspective of a hands-on retailer.
She is a member of the Australian Marketing Institute.
Beginning in the newspaper industry in 1984, Leanne
learned at a very young age about the importance of a customer rather than a
sales focus. She was consistently the top performing sales consultant during her
time selling media advertising and it's little wonder many of her clients just
gave her their budget and left her to get on with it!(and some of her jewelry
store customers did the same).
Leanne's greatest strength is communication, with both customers and staff.
Along with the day to day running of the store, Leanne's innovative ideas and
creative marketing techniques, plus an in-depth understanding of effective
advertising layout, has produced advertising and promotions that really work.
45
How to Effectively Market your Jewelry Store
After spending seven months overseas with their young family, (yes you can
leave your business and still have something to come home to!) the couple
returned in 2007 and decided to sell their store – using their own proven
principles they marketed the sale of the business themselves and, taking less
than a month, they attracted 8 interested parties and a price 30% better than
a business broker had said they would get.
They then proceeded to sell their house, again using their own marketing
principles, achieving a buyer for the price they wanted in just 9 days (during a
steeply declining market when the average house sale had blown out to 68
days). Their open home achieved 6 times the attendance of 3 other open
homes, marketed that same day, combined.
Their website www.jewelrymarketingsolutions.com is the No.1 online
marketing resource for retail jewellers and includes marketing articles, instore
promotional ideas, templates and other resources to help jewelers market their
jewelry and achieve greater profits.
46
Документ
Категория
Без категории
Просмотров
41
Размер файла
679 Кб
Теги
1/--страниц
Пожаловаться на содержимое документа