Hello everyone! This post is all about finding out what your Holiday Season buying plans are! This season seems to be a bit different than the last few! We might actually have to work HARD at selling items and work HARD at selling to new people!
Last year, some of our best customers had huge changes in their economic situations, and we definately felt the pinch. These are customers that generally spent anywhere from $3000 to $12,000 at Christmas and all of a sudden, we were lucky if they spent $250!!! It was quite a shock, but we still managed to break even with the prior years' sales.
This year, the situation looks like it will be even more interesting...
I am focusing on buying much lower price points and fewer high end pieces. If I am really lucky, I will get the high end pieces on memo or consignment, so if they don't sell, I'm not out anything! I am trying to roll the die a little more in my favor this year. Terms are very tempting with all of your regular vendors, but most everyone wants the bill paid in full in January. I have spent a lot of the year struggling every month to make ends meet, and I don't want to give up all the profit in January to meet those terms. There is always jewelry left over, the vendors don't take it back, and you could still be sitting on it next Christmas! These are the things you should be doing your best to avoid!
There are no clear cut answers to the state of the economy, but smart buying will be a huge factor in how you start 2009. Let's do our best to start out ahead.
If anyone has any ideas or suggestions on how to make better decisions...please forward them. We really do need to help each other stay in business!
Friday, September 26, 2008
Wednesday, September 10, 2008
Social Events of the Season
Hello everyone! During the last blog we discussed how to use your best customers as advocates and now we need to discuss your best advocate...YOU! This is the season for all the local charity and specialty events and you need to be there! How many charity events are you participating in? Are you volunteering or working in any booths or tables at these events? Do you donate a portion of your proceeds from that event or do you buy a table? Anything from a fashion show to a garden party can work in your favor, if you do it right. Here are some guidelines...
1. First and foremost: The event has to support the image of your store and vice versa. DO NOT SIGN UP for something you don't believe in and/or don't support. It will show through!
2. Bring yourself and your BEST, NATURAL, salespeople. DON'T BRING THE HARDCORE SALES CLOSERs unless they are the ultimate in making small talk. Over the years, I have noticed that these traits do not usually run side by side!
3. Make sure whomever you bring can have a glass of wine and not make a fool of themselves! This seems pretty obvious, but I have seen the worst in people at these events! :)
4. Dress to kill and have the jewelry that steals the show on YOU! Show off what your store brings to the table. Have your salespeople do the same-only the best at these events and what you really want to promote for this season. It is ok to borrow from yourself for the evening!
5. Have plenty of business cards to pass out and don't be afraid to!
6. Use gift certificates as a way to get new or potential customers to the actual store. Prize giveaways are great except you don't normally see the people ever again.
7. Have an informational flyer that highlights what your store has to offer. Make it look like a million bucks. These can be made in just about any computer program and then printed at an office supply store. Give them just enough information so they need to make a special trip in to experience the rest.
8. This is an ART! Remember to make lists of everything you need to bring, and update the list after every event so you can fine tune the experience. You will never remember to bring more invoices, more boxes, bags, etc., a few days later. Write it down now!
I know that a lot of owners get tired of these events and don't want to do them.
This is the worst attitude you can have! You might not make a fortune or even a dollar at these events, but they are priceless for the new customers you have the potential to meet. You also have the potential to make current customers, advocates. It doesn't take any effort to make these people feel on top of the world if you see them at an event and you acknowledge them! There are so many people out there that attend all of these charity events and you should be a part of them! It is your time to shine! OWN IT!
1. First and foremost: The event has to support the image of your store and vice versa. DO NOT SIGN UP for something you don't believe in and/or don't support. It will show through!
2. Bring yourself and your BEST, NATURAL, salespeople. DON'T BRING THE HARDCORE SALES CLOSERs unless they are the ultimate in making small talk. Over the years, I have noticed that these traits do not usually run side by side!
3. Make sure whomever you bring can have a glass of wine and not make a fool of themselves! This seems pretty obvious, but I have seen the worst in people at these events! :)
4. Dress to kill and have the jewelry that steals the show on YOU! Show off what your store brings to the table. Have your salespeople do the same-only the best at these events and what you really want to promote for this season. It is ok to borrow from yourself for the evening!
5. Have plenty of business cards to pass out and don't be afraid to!
6. Use gift certificates as a way to get new or potential customers to the actual store. Prize giveaways are great except you don't normally see the people ever again.
7. Have an informational flyer that highlights what your store has to offer. Make it look like a million bucks. These can be made in just about any computer program and then printed at an office supply store. Give them just enough information so they need to make a special trip in to experience the rest.
8. This is an ART! Remember to make lists of everything you need to bring, and update the list after every event so you can fine tune the experience. You will never remember to bring more invoices, more boxes, bags, etc., a few days later. Write it down now!
I know that a lot of owners get tired of these events and don't want to do them.
This is the worst attitude you can have! You might not make a fortune or even a dollar at these events, but they are priceless for the new customers you have the potential to meet. You also have the potential to make current customers, advocates. It doesn't take any effort to make these people feel on top of the world if you see them at an event and you acknowledge them! There are so many people out there that attend all of these charity events and you should be a part of them! It is your time to shine! OWN IT!
Monday, September 1, 2008
Your Advertising Advocates!
Hi everybody! Last week we talked about using advocates as your best form of word of mouth advertising. It sounds so easy but nothing happens unless you raise the bar higher for your advocates for NO REASON AT ALL, other than you know they will spread the love.
Looking for ways to raise the bar...
1. Send thank you cards with $25 to $100 gift certificates in them. One for them and one for a friend.
2. Send flowers to a customer that is having a rough time. This does not have to be overly expensive-it is the thoughtful card that goes with it that matters.
3. Keep notes on these highly elusive advocates of jewelry they like, finger sizes, colors, length of necklaces that they prefer, types of clasps, and basically anything else that pertains to them. This way when someone special comes in to shop for them, you know without a doubt that what you are picking is absolutely what they want!
This type of confidence cannot be bought. You have earned it. This all starts with the owners and managers. You are who will make your customers into the best advertising around!
I would like to take a moment to thank all of who have read the blog so far and I cannot wait for your comments! Come on and try leaving a post! You all are the reason I am doing this! I know a few of you out there are really interested in figuring out how things work and how to make things better, but if we don’t share and learn from each other, how can we ever grow? Put your questions and ideas to me and I will get you the information you need to make changes and to grow! Anything is possible in this day and age-you just have to reach for it! It’s only a blog spot away...
Just give it a shot. At least you know you’ll get one answer! :)
Happy days,
Kelly
Looking for ways to raise the bar...
1. Send thank you cards with $25 to $100 gift certificates in them. One for them and one for a friend.
2. Send flowers to a customer that is having a rough time. This does not have to be overly expensive-it is the thoughtful card that goes with it that matters.
3. Keep notes on these highly elusive advocates of jewelry they like, finger sizes, colors, length of necklaces that they prefer, types of clasps, and basically anything else that pertains to them. This way when someone special comes in to shop for them, you know without a doubt that what you are picking is absolutely what they want!
This type of confidence cannot be bought. You have earned it. This all starts with the owners and managers. You are who will make your customers into the best advertising around!
I would like to take a moment to thank all of who have read the blog so far and I cannot wait for your comments! Come on and try leaving a post! You all are the reason I am doing this! I know a few of you out there are really interested in figuring out how things work and how to make things better, but if we don’t share and learn from each other, how can we ever grow? Put your questions and ideas to me and I will get you the information you need to make changes and to grow! Anything is possible in this day and age-you just have to reach for it! It’s only a blog spot away...
Just give it a shot. At least you know you’ll get one answer! :)
Happy days,
Kelly
Sunday, August 24, 2008
Christmas strategies...
In a perfect world there wouldn't have to be a strategy other than sell, sell, sell during the holidays. Those days have quickly left us. So now what do you do?
*Do you throw a lavish party for your best clients? How do you determine they are the best? Do you actually run the numbers and figure out who reaps you the highest net sales throughout the year? You might be really surprised by the numbers. I sure was.
*It seems the most important customer that we need to put the most energy into earning ALL of there repeat business, is the slow and steady one. Hare vs. the tortoise seems to still win. Those customers that frequent your store all the time from battery changes, to repairs, engravings, graduation gifts, and then 50 different presents for everyone in their life at Christmas. You earned their loyalty and trust by always having what they needed and giving it to them with a smile.
*Start making those offers of staying late to have it work better with their schedule.
*Start pushing those home deliveries-they are worth their weight in gold.
*All of this highly personalized service will buy you priceless amounts of free advertising.
*Last but not least:
Presentation is everything! You do not have to spend a fortune on boxes and bows to make your product rise above the competition. Dollar stores carry a wide selection of gift bags, tissue paper, and note cards. Take those and make them yours. Stamps, ribbons, beautiful paper, etc...You can even take the most inexpensive cards and personalize the inside of the envelope with beautiful paper.
Please try www.papersource.com for some incredible ideas.
P.S. Always send a thank you card, hand written in bold ink, that is personalized to that customer. If you are able, send them a little gift certificate as well.
Hand written notes are invaluable to your business. ***FYI***If the gift is going to be presented at a later date, please ask when, so you don't send it too EARLY!!!
Going into Sept. is more about grooming your customers for the coming months vs. meeting with all the rabid vendors! Without your customers-you can't pay for the vendor!
For the next blog, write down your 10 best ADVOCATES of your store. These might not be the biggest spenders: these are the people who will tell everyone they meet how wonderful you are. These are the people who drag visiting relatives to the store just so you can meet them! Celebrate these gifts! You cannot put a price tag on the pure joy that they want to spread that is all about you. Put these people down in writing so you can start focusing!
ASK ME QUESTIONS!
Happy days,
Kelly
*Do you throw a lavish party for your best clients? How do you determine they are the best? Do you actually run the numbers and figure out who reaps you the highest net sales throughout the year? You might be really surprised by the numbers. I sure was.
*It seems the most important customer that we need to put the most energy into earning ALL of there repeat business, is the slow and steady one. Hare vs. the tortoise seems to still win. Those customers that frequent your store all the time from battery changes, to repairs, engravings, graduation gifts, and then 50 different presents for everyone in their life at Christmas. You earned their loyalty and trust by always having what they needed and giving it to them with a smile.
*Start making those offers of staying late to have it work better with their schedule.
*Start pushing those home deliveries-they are worth their weight in gold.
*All of this highly personalized service will buy you priceless amounts of free advertising.
*Last but not least:
Presentation is everything! You do not have to spend a fortune on boxes and bows to make your product rise above the competition. Dollar stores carry a wide selection of gift bags, tissue paper, and note cards. Take those and make them yours. Stamps, ribbons, beautiful paper, etc...You can even take the most inexpensive cards and personalize the inside of the envelope with beautiful paper.
Please try www.papersource.com for some incredible ideas.
P.S. Always send a thank you card, hand written in bold ink, that is personalized to that customer. If you are able, send them a little gift certificate as well.
Hand written notes are invaluable to your business. ***FYI***If the gift is going to be presented at a later date, please ask when, so you don't send it too EARLY!!!
Going into Sept. is more about grooming your customers for the coming months vs. meeting with all the rabid vendors! Without your customers-you can't pay for the vendor!
For the next blog, write down your 10 best ADVOCATES of your store. These might not be the biggest spenders: these are the people who will tell everyone they meet how wonderful you are. These are the people who drag visiting relatives to the store just so you can meet them! Celebrate these gifts! You cannot put a price tag on the pure joy that they want to spread that is all about you. Put these people down in writing so you can start focusing!
ASK ME QUESTIONS!
Happy days,
Kelly
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