When you’re running a local business, it’s always a challenge to find a way to make sure your customers choose you over your competitor. In such a highly competitive market, owners must conjure up new ways of improving their business and implementing strategies that will increase sales and profit. In recent years, the jewelry market has been on the rise and, naturally, the competition is getting tough. As a jewelry store owner, you might find yourself lost in the pool of other local jewelry stores not knowing which tactics to apply in order to appeal to local residents.
A jewelry business is, in fact, no different than any other business, at least when it comes to building solid and long-term relationships with customers and making your core values known to the public. In addition, if what you offer are high-quality products and a professional service, then you just need to work on building your brand and answer to your customers’ needs.
For instance, you can do that by creating a blog or sending newsletters to inform your customers about the latest discount. There are, of course, other ways to blow your competition away(figuratively speaking) and we’ll share some of those in the paragraphs below. If curious to find out more, keep reading and learn how to take your local jewelry business to another level.
Build an online presence
If they can’t find you on Google, do you even exist? In the digital world we live in, whenever we encounter a new company or product, we immediately turn to our ally, Google, to check out the experiences of previous customers. Also, we often have specific questions in mind that we want answered, and typing in a couple of phrases online is easier than picking up the phone and giving someone a call, right? Most of us are quite familiar with the feeling of anxiety that pops up before a phone call, but today you no longer have to rehearse your speech ahead—a simple Google search will do the trick.
That means, if you don’t have a website, don’t lose time and make one ASAP. It doesn;t have to be anything flashy(you can build on it later as your business expands), but make sure to include the relevant information such as NAP(name/address/phone number), list of services and products you offer, business hours and anything else you think is essential for your customers to understand your business. Also, as we’ve mentioned before, having a blog where you could not only promote your products but also provide your audience with useful tips, is a great way to stand out from the crowd.
Take a look at some of your competitors’ websites and see how they’re doing it. Big brands such as Tiffany, Cartier, etc. put a lot of effort into developing their online presence so you could learn from their example as well.
Offer an array of different services
As a local jewelry store, you are obviously expected to sell jewelry pieces and, in most cases, it’s your number one priority. However, that doesn’t mean it should be the only service you offer. As your local business blooms, think of adding other services that might benefit your customers. For example, you could include jewelry repair, customized jewelry and even watch repair if your range of products includes wristwatches. The next time someone buys a necklace at your store, they will likely turn to you if they ever need to alter the necklace or fix it in case it gets broken or similar.
Also, some jewelry stores have started offering asset loans that allow customers to put some of their jewelry up as collateral and get some much needed money in emergency situations. Many local stores have incorporated this service and it has proved quite beneficial for the business.
A good example might be one local jewelry company from Arizona, the Estate Watch and Jewelry Co. that has successfully added the service to its line of work. By doing so, anyone in search of jewelry collateral loans near Phoenix or in the immediate vicinity, can turn to them when in search of an immediate solution to financial issues.
If your potential customers can see that your previous customers are satisfied with your service and products, they will be more likely to give your jewelry store a chance. In a small town or neighborhood, word-of-mouth is at times enough to get the ball rolling. However, if your business is located in a more populated area, you’ll have to rely on more than someone spreading the good word about you. That’s where Google reviews step in. Before anyone can review you on Google, you need to create a GMB profile.
Some customers will go ahead and leave the review by themselves but you can also ask your customers to write a line or two and share their opinion on the service. Just make sure to reply to those reviews, whether they’re positive or negative, and try to think about how you can improve your business using those comments.