Look Book

s No matter where you're at in the world, EVERYTHING has changed radically in the last few months. And no matter what the talking heads on TV say, every- thing can't possibly go back to the way things were. In some ways, that's actually a good thing for jewelry businesses. For example, luxury travel has always been one of our industry's biggest competitors and for many consumers, money hasn't really disappeared -- it's just changed line items. (One client I spoke to told me she's sold more in the past 3 weeks than she did in the previous 4 months!) Now, more than ever, your future success depends on how willing you are to adapt and make these changes now. This is our chance to really reinvent ourselves. But in order to benefit from these changes, business owners need to approach our new world with wisdom. Here are 5 lessons learned from the industry leaders who've implemented them already and have stats to back it up… Lesson #1: Change with the Times. As one client who saw New Orleans go through Hurricane Katrina put it, "People get tech-savvy real quick when they need to." We've seen telemedicine take a 10-year leap in a matter of weeks -- and while your customers aren't expecting that level of innovation, they are looking to you for digital solutions to their shopping experience. Even after storefronts reopen, virtual meetings will still replace some of your in-person business. And with the right systems in place, some business owners have even simplified their sales processes by accessing what customers are browsing and knowing what to pull in advance of their virtual appointments. Lesson #2: The Money Is in the Relationships. Make no mistake, the money has always been in the relation- ships -- but now more than ever, it's important to have your relationships be at the forefront of everything you do. Keeping in touch with clients after they make a big purchase or before birthdays and anniversaries can go a long way in making them feel cared for (and that's ditto for knowing the names of their spouses and kids). Be like my client, Jennifer Dawes, who has put an even greater emphasis on keeping in touch with her existing clients and has seen a 214% increase in her online sales in the past 30 days. This is what I call the "what would your grandparents do?" approach and right now it's what's working. Your grandparents would have a beautiful relationship and put that over the immediate sale, and you should too! Lesson #3: Bring People Together, Even While Apart. Creating online events for your clients and customers while your physical doors are closed is critical to moving your business forward. Jewelers are seeing amazing success with virtual trunk shows hosted live on Zoom or Facebook–but outside-the-box thinkers are getting the best results. Like my retail client, Walton's Antique Jewelry, who added 300 brand-new ideal prospects to her list in under 3 hours by hosting a virtual Easter egg hunt in her online store. And went on to increase their revenue by 292% after the sale, including a 35% increase in average order value! Lesson #4: When One Door Closes, Another Always Opens. As storefronts around the world have faced closures, some business owners are taking the opportunity to offer something they simply couldn't if this was "business as usual". Private appointments and tours -- where only ONE client or customer is in the store -- goes against the welcoming open- door policy that many businesses have, but at a time like now it's a brilliant way to make your best customers feel cared for. "Clients never get to see stores before they open their doors and I'm getting quite a positive response from doing this. I've had some great feedback and actually have 3 private store tours set for next week." -- Julez Bryant Retail Sales 72 www.thejewelrybook.com Everything has Changed Five Smart and Simple Ways to Future-Proof Your Business. By Kathleen Cutler

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