The JA Report: News, Tips & Trends from Jewelers of America

Pop-Up Jewelry Stores: The Wave of the Future?

By Helena Krodel, Director of Media and Special Events

From Boston to California, New York to San Francisco, pop-up stores are a new phenomenon taking retail by storm. A pop-up shop, that is — a temporary retail space or experience which involves “popping-up” one day, and disappearing the next – has become the second most clever way (after social media of course) to create a unique environment that engages customers and generates a feeling of relevance and interactivity. As far as publicity goes, this concept is high on the list of buzz-worthy activities. 

Ingredients for Internet Marketing, Part 2: Understanding Traffic

By Vedran Tomic is an Internet marketing consultant, who specializes in local search and is a contributor to SmallBizTrends.com, a small business news site

In Part One of “Ingredients for Internet Marketing for Jewelers,” Internet Marketing Consultant Vedran Tomic explained the importance of web design, social media and local search to your Internet marketing campaign. Now, he explains how organic and paid search helps build your web traffic and increase your customer base.

To have a decent return of investment (ROI) on your Internet marketing efforts, you will need to get traffic to your website. More specifically, you will need targeted, qualified traffic. In the case of local brick-and-mortar jewelers, this means web traffic from people in your area interested in jewelry.

Web traffic can be acquired in many ways. In this guide, I will concentrate on traffic from search, because search is arguably the most important channel of traffic acquisition. There are two types of search traffic: organic search traffic and paid search traffic. No search marketing strategy is complete without both of these models at work. However, it’s important to understand each method’s advantages.

Ingredients of Internet Marketing Success for Jewelers, A 2-Part Series

By: Vedran Tomic is an Internet marketing consultant who specializes in local search and is a contributor to SmallBizTrends.com, a small business news site

Why Internet Marketing?

Growing a small business without a clearly defined Internet marketing strategy today would be more than just difficult. Consumers have never had as many choices and as little time as they have today. The Internet has not only given consumers more options – but also more power to influence your business’ reputation and success. People can grow your business beyond your imagination just by sharing their experiences with their friends and family in person and online. They can also cut your business in half by posting negative reviews on the web.

Traditional advertising methods through TV, radio and print ads offer lower and lower ROI, as consumers are choosing the Internet to explore, decide and shop. This is true for retail jewelry, as well as all small businesses. But this is not the end of marketing; it is the beginning.

Using the Internet to put your business directly in front of a costumer who is searching for your services or products, at the moment she's searching, is one of the best ways to market your business. This is the reason every small business owner should revisit their marketing budget and consider allocating more resources and effort into Internet marketing.

Bridal Jewelry for the Next Generation

While bridal jewelry endures, jewelry businesses need to stay ahead of the curve in terms of what younger couples are looking for. Industry analyst Ken Gassman, who spoke at last month’s JCK Show in Las Vegas, says that young consumers want to stand out from the crowd when it comes to bridal jewelry, from the engagement ring to the wedding day (and if you get it right, beyond).

He offered the following tips on how to sell bridal to your next generation of customers:

Check Your Business Temperature

Attitudes, including those of consumers, have definitely improved since the start of 2010. But while things appear to be improving, but there are also indicators (like the jobs and housing markets) that we’re not quite out of the woods yet. That’s why it’s important to check the temperature of your business, especially as you look ahead to the second half of the year and the critical holiday season.

Some things to keep in mind as you look at your business today:

Use the Power of a Press Release

A new survey by the Oriella PR Network, a group of 15 PR agencies worldwide, found that 75% of journalists said an e-mailed press release from a PR pro is useful if the content is “high quality and well targeted.”  “These findings prove that ‘old fashioned’ public relations tactics are still important and can generate important awareness for your company,” says Amanda Gizzi, Director of Consumer Communications for Jewelers of America. 

There are a few simple things to remember when writing and submitting a press release.  Gizzi shares the following tips:

Successfully Communicate Responsible Business Practices

As consumer expectations rise, the need to tout your responsible business practices has also increased. In the article “Spotlighting Your Social Responsibility,” Rachel Meranus of Entrepreneur.com writes that companies of all sizes can benefit from communicating “hidden assets.” These include things such as how employees are treated, programs for environmental sustainability, efforts to source responsibly and charitable associations.

Meranus shares the following tips to highlight your social responsibility:

“Strike a Pose” With Fashion-Forward Marketing

At the recent JCK Show in Las Vegas, Jewelers of America’s in-house fashion and jewelry trends expert Helena Krodel picked up great ideas from “Selling Through Fashion,” an enlightening and entertaining panel discussion. Krodel was thrilled to learn a few tricks and hear creative advice aimed at retailers who are looking to market and merchandise year-round. Retailers got tips on how to position themselves as fashion experts in the minds of consumers through trend-driven in-store merchandising, special events, online media and social marketing.

The panel was comprised of four industry experts: Elizabeth Anne Bonanno, EAB Consulting; Randi Molofsky, Portero.com and author of A Girl’s Guide to Buying Diamonds; Frank Proctor, Luxury Brand Group; and Michael Schechter, Honora. The discussion was led by moderator Victoria Gomelsky, who is a frequent contributor to the New York Times and other publications.

Krodel shares some of the best advice from the panelists:

Defuse Unhappy Customer Comments

Whether you’ve embraced the web or not, your business can still feel the impact of a negative customer review on websites such as Yelp.com. According to BIGresearch, a consumer market intelligence firm, 92.5% of adults say they regularly or occasionally research products online before buying them in a store.

For this reason, it is imperative that you control your reputation on the wild wild web. In “How to Take Control of Your Online Reputation,” Mikal Belicove offers tips from Neal Creighton, co-founder and CEO of RatePoint, which provides online review services to businesses. Creighton shares ideas on how to address unhappy customer feedback before it negatively affects your brand online. 

Use Creighton's tips to make sure your reputation thrives online -- and on Main street:

Live From Las Vegas: Retail Masters of Promotion

Smart marketing is a key component of your business, but how do you create great, affordable promotions that work? Amanda Gizzi, Jewelers of America's director of consumer communications, will seek the answers to these and other questions as she moderates the JCK Show panel, “Retail Masters of Promotion.” Savvy promotional experts will share insight into the marketing puzzle. The panelists include Cathy Calhoun, of Calhoun Jewelers; Kristen Darrow, of Fred Meyer Jewelers; Dan Schuyler, of Lily & Co.; and Ryan Berg, of Lee Michaels Fine Jewelry.

Attendees of the session will take away great marketing tips including:

Think Twice When Cutting Costs

When reviewing how to save money in your retail business, it’s important to carefully consider how each cost-cutting decision you make will impact your business. David Peters, Jewelers of America’s resident education and management expert, shares his insight on how to analyze cost-cutting decisions.

Use his tips to review your cost-cutting options to see how they will affect key areas of your business: 

Revolutionize Your Business Through Change!

At the 2010 American Gem Society Conclave in April, William Taylor -- a best-selling author and entrepreneur -- presented a keynote speech titled, "Practically Radical: Unleashing the Big Change in Tough Times." He encouraged jewelers to create a revolution of sorts and do things differently in these challenging economic times. Taylor offered clever ideas and posed some thought-provoking questions to the audience.

Taylor is the co-founder of Fast Company, one of the most irreverent and iconic business magazines in history. Never one to be satisfied with “playing it safe,” he feels hard times separate leaders from the pack -- if you can summon the leadership skills to take risks.
 
Taylor was clever, and posed some thought-provoking questions to the audience. Here are just a few of the business savvy ideas he shared:

Summer Event Idea: Lights, Camera, Jewelry!

It’s been two years, but the fashion-forward gals from the television series “Sex and the City” are back with the sequel to their hit 2009 film. Sex and the City 2, opening nationwide on May 28, "Carries" on the tradition of friendship, fun and yes -- fashion. Just one look at the movie’s trailer (even the logos sparkle!) makes it clear that Carrie Bradshaw and her pals are still accessorizing big-time, and that includes jewelry. (Even Mr. Big gets in on the action, with Carrie gifting her husband of two years a new watch.)

Whether it’s on the red carpet or the big screen, women will want to emulate the looks they see this summer. Take advantage of the buzz by promoting Hollywood-inspired jewelry in your store.

Some movie pitches (and key release dates) to give you ideas:

Capitalize on the Power of Online Pre-Selling, Part One

We all know that attitude is a major component in sales. The more upbeat you are, the better are your chances of closing a sale. But if, like many retailers, you feel that the Internet has distorted the way jewelry businesses are run, Larry Chasin, President & CEO of Ideal Diamond Solutions, suggests you revisit that thought.

As a jewelry sales veteran and head of a company that provides a ground-breaking technology platform to the industry, Chasin understands both sides of the great "Internet vs brick-and-mortar sales" debate. To reconcile traditional sales with the power of the Internet, Chasin suggests thinking of your website and web tools as avenues for pre-selling your jewelry merchandise.

If you've been in the sales business for any length of time, you understand the power of pre-selling merchandise. It's a lot easier to close a sale with someone who already has real interest in something, versus someone who doesn't.

Use Chasin's tips to start treating the web as a pre-sell tool and thrive with in-store sales:

Create a Cohesive Jewelry Collection

"Is my collection cohesive?"

This is the one-billion-dollar question that jewelry designers should be asking themselves. By definition cohesiveness means well-integrated or unified. 

To make sure your collections thrive each season, Helena Krodel, Jewelers of America Director of Media and Special Events (and Jewelry Information Center spokeswoman), says you need to take a close look at your designs and ask the following questions:

TIPS IN ACTION: RETAILERS WHO THRIVE

Be an Engagement Event Destination
Jeweler Cindy Lis, Diller Jewelers, West Reading, PA, shows how

Jewelry Information Center’s recent Ultimate Proposal Contest received an outpouring of jewelry proposal stories at JIC.org. They show what a special, memorable – and universal – moment the wedding proposal is to a man and woman.

As retail jewelers, if you aren’t capitalizing your unique position to be a key part of these special moments – you are missing out on an invaluable customer-relations opportunity. You should not consider yourselves in the business of only selling the jewelry – but should become a part of the engagement event.

Jewelers of America member Cindy Lis, owner of Wm H Diller Jewelers, in West Reading, PA, understands the importance of capturing the engagement moment with her customers. The independent specialty jeweler is the oldest jewelry store in its county. Since 1914, it’s thrived by building personal, and lifelong, relationships with its customers.

Lis shares how Wm H Diller Jewelers not only becomes the setting for the engagement ring sale – but the engagement event as well:

Be a Jewelry Resource with Email Marketing

Keeping an eye on marketing ideas from other companies is critical to your own success, whether you’ve fully integrated email marketing into your business, or you are just getting started. Some of the best ideas can be found when we think about our own customer experiences.

Lauren Thompson, Communications Manager for Jewelers of America, shares how shoe brand Geox is getting it right when it comes to email marketing:

For Christmas, I bought a pair of Geox shoes as a gift. While I went to the retail location, during the rush of the holiday season, I found it easier to buy the shoes online – which featured the same services and discounts that I would have received in store. Ever since I made the purchase, Geox has sent follow-up emails. As JA’s communications manager, I have been impressed with the brand’s soft sales approach and customer service in their direct email marketing. These emails remind me that for future shoes/gift purchases, Geox needs to be on my list of retailers to visit.

Stock Hot Summer Jewelry Trends

As the weather warms up and the clothing gets paired down, there is more body real estate on which to park jewelry! Helena Krodel, Jewelers of America's Director of Media and Special Events, offers a sneak peek at the hottest jewelry styles and colors for the sizzling summer season.

Be smart with your jewelry merchandising this summer and stock your jewelry store with these jewelry trends:

Build Your Brand, Part 2: Brand Promotion

In Part 1 of our "Build Your Brand" tip, Jewelers of America Director of Marketing and Communications Molly Fallon explained the core elements to conceiving your brand. Once you've determined your audience, your mission and your brand's personality -- it's time to consistently incorporate the brand into your marketing, store experience and staff training.

Use Fallon's tips to maintain consistency execute an effective brand presence that builds customer loyalty:

Build Your Brand, Part 1: Lay the Foundation

There is a common misconception that branding is merely a logo. While visual identity, including your company name and logo, is a large part of branding, there are a host of other elements to consider. Consistency between these elements is key to maintaining an effective brand presence.

In Part 1 of this branding tip, Molly Fallon, Jewelers of America’s Director of Marketing and Communications, shares a few basics to build a strong brand:

Promote the Holidays Early

While the conventional wisdom is that holiday shoppers don’t start looking until the very end (Black Friday or later), a new study begs to differ. According to “Gift Reporting 2010: The Ultimate Guide to the Consumer Gift-Giving Market,” a new report from Unity Marketing, two-thirds of all shoppers who give Christmas gifts started their shopping for the 2009 season before Thanksgiving. The study also found 22% of shoppers look for Christmas gifts year-round and that those who shop early spent twice as much as consumers who started on Black Friday or later.

Pam Danziger, president of Unity Marketing, offers the following takeaways from the report:

Cut Marketing, Advertising and Promotions Costs Creatively

Getting your brand “out there” is essential – but are you spending your marketing and advertising budget wisely, or watching dollars go down the drain? If you’ve been reaching the right demographics and seeing measurable results, you probably don’t need to alter much, if anything. On the other hand, if old promotions and ad buys have gone stale, it may be time to freshen up your marketing mix.

David Peters, Jewelers of America’s resident education and management expert, shares the following tips to cut your budget, while improving your marketing results:

Don’t Forget Outstanding Online Service

Earlier this week, we offered advice from Larry Chasin, President & CEO of Ideal Diamond Solutions, about  joining the “free” marketing and information revolution. He shared tips on how to turn consumer desire -- and expectations -- for free information into an online marketing tool for your jewelry business.

But offering free marketing and expertise is just one part of the equation. If draw people to your jewelry website without providing outstanding services for outstanding products, the initial attention will fade quickly.

Today, Chasin offers some must-have online service options to go along with your marketing:

Market Your Expertise Online For Free!

There's a lot of talk in marketing circles lately about "free" being the new driving force in business. But since retailers don’t want to give inventory away, does it have anything to do with the jewelry and watch industry? "It does when it comes to marketing that inventory," says Larry Chasin, President & CEO of Ideal Diamond Solutions, an online technology platform provider that focuses on the jewelry industry.

A lot of the discussion stems from the new book Free: The Future of a Radical Price, by Chris Anderson, a social commentator who earned his reputation as an editor of Wired magazine. He focuses on how the digital revolution has made some things free (or almost free) that we used to pay for and how that has affected industries like news, publishing and music.

Chasin says there is a useful takeaway for jewelers: the fact that consumers are now used to getting information for free, and they have come to accept it as the norm. He suggests using that development to your advantage in your marketing, and offers the following ideas to capitalize on content:

Be Part of the “Perfect Engagement” Story

To most Americans, buying an engagement ring is a daunting experience. That’s why retailers that get it right are not only part of the most exciting time in couple’s lives, they develop lifelong customers in return.  Over 630 consumers have entered their “Ultimate Proposal Story” in Jewelry Information Center’s Ultimate Proposal Contest. JA Director of Consumer Communications (and JIC spokeswoman) Amanda Gizzi has found inspiring marketing ideas for jewelry retailers from the story entries. She shares her favorites here.

Use these ideas to connect with your engagement customers and help them create the perfect engagement story:

Host Spring Jewelry Events

The post-holiday spring months don't have to be a slow season for jewelers. Get inspired by the shift in seasons, and help customers celebrate the new fashion season with events that tie into spring trends, spring (jewelry) cleaning and spring-related holidays.

Use these event ideas to help you thrive with spring jewelry sales:

Provide Service to Customers of Closed Jewelry Stores

Jewelers of America recently took a call from a consumer who had diligently held on to the lifetime warranty on her 16-year-old diamond engagement ring. Unfortunately, in these tough times, the jewelry business that issued the warranty had gone bankrupt. With no one available to honor her warranty going forward, this customer -- like many others -- needs to find a new jeweler who she can trust with her jewelry service needs. This story is not uncommon these days. And there are ways that you, a reputable jeweler, can help -- and attract new customers in the process.

David Peters, Jewelers of America’s resident education and management expert, offers the advice to help you help consumers who have jewelry warranties that no longer apply:

Don't Dismiss Social Media

Perhaps you’ve heard about a new report that says people's trust in each other's online recommendations about companies has dropped 45%. Does that mean you should forget about doing any social media outreach? Definitely not, says Larry Chasin, President & CEO of Ideal Diamond Solutions, the jewelry industry’s online technology platform provider.

Social marketing -- whether through blogs, Twitter, Facebook comments or any combination of them -- remains an important tool in your marketing arsenal. Chasin points out that these platforms are useful in building and sustaining relationships. And relationships, he adds, remain one of the central planks on which the retail jewelry industry is built.

The new report, entitled "The Edelman Trust Barometer" produced by Edelman, a leading global PR firm, shows that the number of people who view their friends as credible sources of information about a company dropped by almost half, from 45% to 25%, since 2008. However, the report also indicated that trust has diminished across almost all sectors, including government, business and banking. This affects how the report should be interpreted, Chasin says, since people are generally less trustful these days.

He offers some perspective on the report, and some points to keep in mind about trust and social media:

Make Good Business Resolutions in 2010

Personal resolutions can help individuals to get a disciplined, goal-oriented start to the New Year -- but what about resolutions for your business? Over at the National Jeweler Network, columnist Ellen Fruchtman shares her “Resolutions for Jewelers.”

Her top retail jewelry resolutions for the year are:

Make Public Relations Gems From Daily Routine

Everyday monotonous tasks can be turned into a perfect public relations opportunity for your business. Learn to think like a well-oiled PR machine by making everything you do synonymous with your brand.  

The JICchicks, the spokeswomen of Jewelry Information Center -- Jewelers of America’s consumer education arm, perform public relations on a daily basis and offer some great examples: