If You Are A Jewelry Store Owner You Are In The Jewelry Marketing Game
Jewelry marketing, for most jewelry retail companies, is often the highest operating expense right after wages and rent, yet is among the most unaccountable and misunderstood locations for jewelry store owners.
Rent is carefully negotiated when the normal review comes up and the productivity associated with staff members is always being discussed nevertheless it comes to advertising and marketing many jewelers may take responsibility for their advertisements, or even worse, just don’t do any jewellery marketing at all.
This often originates from a lack of understanding of the marketing/advertising procedure and the fact that advertising is never ever a finished task. Staff could be hired, or rent reviewed on the periodic basis, but marketing from the stores jewelry is ongoing. Last months good jewelry promotion matters for nothing after the last day from the month – you have to start the procedure all over again with a fresh angle : a new method of getting the customer in-store.
There’s a saying in many sports you are only as good as your next game plus marketing fits this to a first tee. There is no ongoing applause after the jewelry promotion ends -you need to start fresh whether you like this or not.
This constant need to market and reinvent promotions and commercials causes many jewelers to give up -they don’t have the skills to do it and don’t prefer the cost of failing to do so.
Yet all of us are marketers.
Regardless of our occupation our objective is to persuade even more people that we have the solution to their issues.
Wikipedia defines marketing well in order to says that marketing is used to generate the customer, keep the customer, and fulfill the customer. Marketing originally grew from your professional approach of large organizations who, faced with competition and a good obsession with market share, changed from the production focus (a focus on producing products with little thought upon who would buy them) to an advertising focus (a focus on the customer).
Sadly many small and medium sized businesses, running as Mom and Pop operations, have been very much slower to appreciate the need to appeal to their particular customers more and have lost market share towards the majors as a result.
From supermarkets in order to hardware, the corner store has been replaced-in fact wiped out -by the introduction of the conglomerate. Yet in the jewellery industry the chain stores, even though having a significant market share, have did not take over.
Of the almost 4 thousand jewellers in Australia just one third are chain stores -almost 2700 stores are still run included in a family operated business or simply by an owner who has only one associated with two stores.
Why has jewellery escaped the trend of so many some other industries that have become the sole website of the large corporation,
One phrase – trust.
At the final of the day when a customer buys the diamond they don’t know what they’re actually buying. 99. 9% of customers might have no way of knowing whether they happen to be ripped off or not. There are several other products where the customer is really reliant on the honesty and ethics of the vendor.
Because of this the thought of dealing with a jeweler who these people know, with a member of the community who else attends the same clubs, who may worship at the same church, or in whose children go to the same schools, offers comfort to the customer that they have bought best.
This, and the last remaining vestiges of personal service, protects the corner jewelry salesman from chain store obliteration -however it can also be a cause of downfall.
This protection is a comfort, but still results in too many jewelers content to function along with average profits in the clubby environment that this protected environment can bring. Too often these same jewelers feel they could get along without it so they notice no reason to try.
Sadly the overall game is changing. The wall associated with trust will not last forever along with any guarantee, and the jeweler in whose marketing consists of opening the door plus waiting for the customer to walk within will go the way of the dinosaur.