Let me ask you a question… have you ever noticed how it seems that every jewelry store in your area seems to say the same thing in describing their store? You’ll see statements in their advertising such as “The Best Customer Service” or “Best Prices On Diamond Rings Guaranteed” or “Nobody Outsells Us” or “Best Jewelry Selection”. Of course, everyone thinks they have all of these things and they’ve become overused in the context of marketing and advertising.
You’ll discover that one of the best areas to invest your time is in studying your competitors and thinking about the things that make you different from them. Perhaps you are the only jeweler in your area to offer jewelry repair with a laser welder, or you might be the jeweler who really does have the largest selection of diamond engagement rings under one roof (you’ll have to shop and study your competitors’ stores to confirm this). Please take the time and effort required to determine what it is that makes you “Special” in your marketplace.
When you have determined what it is that makes you different from all others, to quote one of my heroes, the great entrepreneur and showman PT Barnum, “Say It With Fireworks.” What did he mean by that? Once, you’ve decided what your point of differentiation is, shout it to the Heaven’s in all of your marketing and advertising materials. Mr. Barnum is saying make it so obvious as though you couldn’t help but see it, just like how you can’t miss a fireworks display!
So, how do you answer the question of “How do you Zig when your competitor’s Zag?” Example: If your competitor is strong in the area of custom design, why don’t you become the store that only carries the XYZ brand of diamond that no one else can offer? If your competitor says he has the best pricing, you become the store with the best selection of bridal jewelry in your area. Perhaps you’ve discovered that your competitor has a weak return policy thus making customers feel uncomfortable, you become the store that offers an “Ironclad Guarantee of Satisfaction with the Longest Return Policy in your Area”.
You will be amazed how these techniques work and how often good retailers overlook them. The more specific you can be in your differentiation the better! Why? Because it re-positions the competition and sheds a new light on you. Now is the time to let folks know that your store is the only one that carries the XYZ line or that your store is the only store with a gemologist in it assuring customers of knowledgeable service.
Do these types of things – practice them daily – set your store apart from the rest of the pack and before long, the rest of the pack will only be seeing the dust kicked up from your heels because you’ve left them behind!
Bill Warren is president of The Gold Mine Fine Jewelry & Gifts, Inc., a successful jewelry store in the Hudson, NC. He recently formed Warren Marketing Systems, a company dedicated to helping small to medium size jewelers achieve success through innovative marketing. He regularly speaks at jewelry shows and conventions and also is a member of the Marketing Wizards Alliance. If you would like to receive more money making ideas like those in this article, consider subscribing to the Marketing Wizards Alliance Newsletter. To do so or to contact Bill, call 828-729-1020 or e-mail goldman86@bellsouth.net.
