When you’re running a local business, it’s always hard to find a way to make sure your customers choose you over your competitor. In such a competitive market, owners need to find new ways to improve their business and implement strategies that will increase sales and profits. In recent years, the jewelry market has been booming and, naturally, competition is fierce. As a jewelry store owner, you might find yourself lost in the pool of other local jewelry stores not knowing what tactic to apply to attract local residents.
A jewelry business is, in fact, no different than any other business, at least when it comes to building strong, long-term relationships with customers and making your core values known to the public. Moreover, if you offer high-quality products and professional service, you just need to work on building your brand and meeting your customers’ needs.
For example, you can do this 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 will share some of them in the paragraphs below. If you’re curious for more, keep reading and learn how to take your local jewelry business to the next 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 come across a new company or product, we immediately turn to our ally, Google, to verify the experiences of previous customers. Plus, we often have specific questions in mind that we want answered, and typing a few sentences online is easier than picking up the phone and calling someone, isn’t it? Most of us are familiar with the feeling of anxiety that arises before a phone call, but today you no longer need to rehearse your speech in advance – a simple Google search will do the trick.
This means that if you don’t have a website, waste no time and create one as soon as possible. It doesn’t have to be anything flashy (you can expand this later as your business grows), but be sure to include relevant information such as NAP (name/address /phone number), a list of services and products you offer, hours of operation, and anything else you deem essential for your customers to understand your business. Moreover, as we have already mentioned, have a blog where you can 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 the websites of some of your competitors and see how they are doing. Major brands such as Tiffany, Cartier, etc. have put a lot of effort into growing their online presence so you can learn from their example as well.
Offer a range of different services
As a local jewelry store, you are obviously expected to sell jewelry, and in most cases, that’s your number one priority. However, that doesn’t mean it should be the only service you offer. As your local business grows, consider adding other services that might benefit your customers. For example, you can include jewelry repair, custom jewelry, and even watch repair if your product line includes wristwatches. The next time someone buys a necklace from your store, they will likely turn to you if they need to modify the necklace or repair it in case it is broken or similar.
Also, some jewelry stores have started offering asset-based loans that allow customers to put some of their jewelry as collateral and get much-needed cash in case of an emergency. Many local stores have incorporated this service and it has proven to be very beneficial to the business.
A good example might be a local Arizona jewelry company, Estate Watch and Jewelry Co., which has successfully added the service to its line of work. In doing so, anyone looking for jewelry collateral loans near phoenix or in the immediate vicinity, can turn to them when they are looking for an immediate solution to financial problems.
If your potential customers can see that your previous customers are happy with your service and products, they’ll be more likely to give your jewelry a chance. In a small town or neighborhood, word of mouth is sometimes enough to get things going. However, if your business is located in a more populated area, you will have to rely on more than just one person to spread the good word about you. This is where Google reviews come in. Before anyone can rate you on Google, you must create a GMB profile.
Some customers will go ahead and leave the review themselves, but you can also ask your customers to write a line or two and share their opinion of the service. Just be sure to respond to those reviews, whether positive or negative, and try to think about how you can improve your business using those reviews.