Your customers have many places to buy jewelry, other jewelry stores, the big box retailers, Internet, pawn shops, to mention a few. So why should they buy from you?
I have always found the best way to gain and keep customers, without cutting price is to give them Compelling Reasons to shop my business and buy from me. I use my Compelling Reasons to get them in my store and to help me close sales faster, and at higher profits.
Increase your store traffic and sales with Compelling Reasons:
You must give people a Compelling Reason to buy from you instead of your competition. When I was in the jewelry business I out-marketed and out-sold my competition with my Compelling Reasons:
Determine your Compelling Reasons
- Make a list of your Compelling Reasons why people should come into your store and buy from you. Have each staff member list as many as they can. Try to find Reasons your competition cannot or will not provide for the customer.
- Pick the most Compelling Reasons.
- Make a big sign of them and hang it in your store. I also had a sign in the window facing out.
- Every sales encounter and marketing piece should include presenting your Compelling Reasons to the customer.
Creating Compelling
Reasons
If you do not have any Compelling Reasons that differ from your competition, or do not have enough, all you have to do is create some. When I opened my jewelry store I did what I still do to out-market and out-sell the competition. I know the basic reason people will purchase jewelry is because they have a problem, a need or a want. {This is the #1 Secret of Selling} And the seller that solves the customers problems, needs and wants the easiest for them will get the sale. {The #1 Rule of Selling}
I determine my customers’ problems, like not having enough money to make the purchase or not having enough money to step up and buy my more expensive jewelry, the ones I make the most profits on. (Of course we are talking about a credit worthy customer). I then found out what my competition (existing jewelry stores) were doing to solve this customer’s problem. In this case it was financing them through a local finance company or bank. I found this out by shopping my competition. I simply telephoned them, asked what their credit charge policy is. I found out that all of my competition would only finance for a period of six months to 3 years.
So I created a Compelling Reason for my customers to buy from me, not the competition.
I made a deal with the finance companies to finance my customers for up to 4 years. The customers flocked to me for the lower monthly payments. Plus, I was also the first retailer to offer my customers no interest financing with 90 days same as cash.
Of course not every customer had the money problem and needed financing, so I needed to have a different Compelling Reason for them. Some of the customers who had a problem, need or want that would be solved with a jewelry purchase had the need for a large selection. Again I shopped my competition, determined the number of pieces in each category they displayed and I increased my inventory to become the largest, by numbers, in my trading area. Largest selection became another Compelling Reason for people to shop and buy at my store.
The most Compelling Reason I used to out-market and out-sell my competition was to give customers the one thing they wanted most. Trust! And we are the best at creating trust with Legendary Customer Service. Service that is so great that the customers buy from you because of your service, not your price. And tells everyone about you without you asking them to do so.
Using just 3 Compelling Reasons – 1. Longer term financing 2. Largest selection 3. Creating Trust with Legendary Customer Service – I quickly became the areas jewelry store of choice.
Your Compelling Reasons are features. To make your Compelling Reasons stronger, add the Benefits the customer receives from the features. Always tell the customer the benefit they receive from the feature.
Strong Compelling Reasons will drive customers into your store and help you close more sales faster at higher profits.
Bob Janet – Sales consultant/trainer, speaker, author of “Join The Profit Club” combines 40 plus years as owner/operator of professional, retail, manufacturing and service businesses with his unique teaching and storytelling ability to motivate, educate and inspire business professionals of all levels and all industries for increased sales & profits. Contact Bob at 704-882-6100, or e-mail Bob@BobJanet.com.
