By the time you read this it is my hope that COVID-19 will have peaked and the country (hopefully) will have started opening back up for business. It’s not been pleasant that’s for sure but here are a few observations that I’ve noticed during the pandemic shutdown.
- A lot of good jewelers simply shut themselves off from their clients by quitting marketing and letting others gobble up their market share.
- Those wise few jewelers that learned how to adapt, improvise and overcome quickly put “virtual shopping” to use as a new revenue stream.
- The jewelers doing these things come out the other side much stronger than their competitors.
Even during the Great Depression and a number of other upheavals, business was still being done and fortunes made. You say, “That’s a little harsh, Bill,” but I say it’s the inescapable truth. Neglect this hard fact at your own peril!
If we all realize first that marketing is the engine that drives our business, dare we let off the gas pedal? During hard times it’s ever more critical that you keep your message out front, make offers and be the jeweler everyone thinks of when it’s time to make a special purchase.
It was most interesting to watch jewelers debate about those who thought now wasn’t the time to be doing business versus those who did. I’m not an argumentative person, but let me point something out: It’s very clear that big box stores kept marketing, shopping was still being done via shopping networks on TV and online. Why shouldn’t you be getting your fair share?
In my time in business, I’ve been thru multiple fiascos such as business downturns, wars, Y2K, 9/11, the Great Recession and now the coronavirus. Even during all this, there are still those who are unaffected by downturns and yes – special occasions still go on – will you be the jeweler that finds the way to help consumers celebrate those special occasions? I certainly hope so, I am!
As we pull out of all this, it’s imperative that you be giving clients ever more reason to come see you and don’t bury your head in the sand! Reach out to your best customers with special offers, do online jewelry sales, hold special events – be visible and be viable!
Very soon I have my first book coming out which is critical in helping jeweler’s succeed as we pull out of all this. It’s entitled, “The Fastest Way To a Full Recovery – Five Immediate Profit Enhancing Strategies Jewelers Can Use Today To Create a Thriving Business!” Not only will it help you now, but in the future!