Wednesday, 10 September 2014

Incredibility

It's a big leap from credible to "incredible."

The English language is full of words where prefixes and suffixes can adjust the meaning 180 degrees, turn it sideways, hyperspace it into superlativity (I made that one up!) or completely change the intent.  “Hospitable” and “inhospitable” are opposites, but what about “credible” and  “incredible?”

In the jewellery business credibility is a huge asset.  How will consumers buy something so easily fudged from us without trust?  We want to be perceived as “credible.”  So do cruise ship jewellers, Caribbean port shops, internet retailers, home shopping channels, chain stores and the dishonest jeweller right down the street from you.  They all want to make sales, and they all know that credibility, or the appearance thereof is the key.

What do our competitors do to build credibility?  Cruise ships spend time educating passengers about jewellery while building rapport.  Port shops bribe port lecturers,  boast of their New York head office and international warranties.  Internet retailers build credibility through transparency of information and no hassle return policies.  The chain stores take advantage of their long histories to leverage lifetime trade-ups and long-lasting warranties.  The television vendors have extensive “risk reversal” policies to assert “we’re so sure you’ll love it, we’ll pay double the return postage if you’re not happy.”  The dishonest guy down the street peddles half-truths and lacklustre promises.

I still visit perfectly honest retailers who have no BBB, Chamber of Commerce nor CJA stickers on their doors.  Their hand-written signs behind the counter that say “NO REFUNDS, EXCHANGE ONLY,” make me think that numerous clients have desired refunds for suspicious reasons.  When asked about warranties, trade-ups and exchange policies there’s no document to clearly state the expectations.  “We’ll take care of you,” sometimes will lose to the chain store’s clearly stated documentation.  I love to see cork-boards full of thank-you notes and wedding photos of happy couples.  They confidently assert “others have tried us and appreciated the service, so you should too.”

Here’s the thing.  If your customer comes to you and says, “Peoples will give me my original cost towards something of double the value…” you might choose to match that deal in order to gain the sale, and the trade-in of something that might actually have some value to you.  If your customer says, “I think this was a manufacturer’s defect,” you often give them the benefit of the doubt and cover it anyway.  For ALL of those benefits you give to your clients after the fact, you could formalize them (to protect you against abuse) and use them as a selling feature to make more sales.

You need to prove your credibility in your long-term actions, but you also need to be able to articulate your credibility in a short sales presentation.  If you A) have credibility, B) clearly communicate how you back-up your claims of  credibility, and C) live it and prove it every day of your life, then you will surely achieve the status of “incredible.”

Wednesday, 20 August 2014

The 2014 WCJE

It's a whole new ballgame without DiGem and The Martin Ross Group

WCJE 2014

Well another show is in the books.  How was the show you ask?  Let me tell ya.  The big buzz was about the pending closure of the Martin Ross Group.  When A&A closed down it was big news in the industry, but Libman and Master Design both at the same time?  Monumental!  The void was already felt with their absence as exhibitors.  They weren’t the only ones missing, and the show was noticeably smaller than last year.  Without those two suppliers, this show offered their dealers a chance to source alternatives, but more on that later…

The Canadian Jewellers Association, JVC and the “Connect for Success” committee produced an educational day on Thursday ahead of the show.  Due to set-up I couldn’t attend the whole thing, but it was very well-received by those who took the time.  I will do what I can to encourage and promote this effort in upcoming years.  Increased show participation depends on the value and excitement that this show provides to retailers.  An engaged and successful retailer will do their Fall buying at the show, offering value to the exhibitors.  And truthfully, waiting for the sales reps to come see you will NEVER give you the front-of-the-line selection, networking opportunities and one-stop shopping that the WCJE offers.

I haven’t heard any official numbers, but I’m pretty sure attendance by retailers was down.  Without the annual general meeting and festivities surrounding the disbanded DiGem buying group, their members had one less reason to make the trip.  Some have joined the CJG, and attended the buying show the previous week in Toronto.  But little of the drop in attendance can be blamed on buying groups as there were quite a few former DiGemmers in attendance, including my good friend Connie Kitigawa.  We will always welcome her participation in the industry and our lives due to the contributions she’s made to Digem, the industry and her friends.  Over the past 5 years, DiGem raised over $75,000 for charity through their “Digem Decadence” dinners and the Edmonton show, and even though the event was missed, the amazing impact on those charities endures as a legacy of the group!

…back to the Martin Ross thing.  Corona put on a very impressive 55th anniversary show of their own with a large addition to their usual space, including diamond cutting demos and a luxurious hospitality lounge.  While they stand to gain a lot of business from Libman and Master Design faithfuls, there will be circumstances where exclusivities, loyalties, flier program conflicts and capacity issues will have to be weighed-out.  It’s going to be a busy season for Corona and other suppliers (including myself) trying to adjust to these new realities!

I hope that it’s a long time before we forget the innovation, inspiration and enrichment that Mark Libman and the late Varouj Arkarakas (Master Design) contributed to our industry.  They were only successful because they helped so many retailers enjoy their own success.

Okay, so this turned into a sort of obituary for Martin Ross Group and DiGem.  On the bright side, those who came were upbeat about their prospects for a robust Fall season.  We sold some pretty amazing one-of-a-kind delivery pieces, leaving us working hard to assemble like-product for me to show you if I’m coming to see you soon.

Monday, 4 August 2014

Motvate-Schmotivate?

Why some attend every motivational talks and others give up on life...

 
I recently attended a one-day conference for keynote speakers, teaching us how to develop multiple streams of income from the basis of a platform presenter.  My eyes were opened to a whole world of professionals who do nothing but go from corporate retreats to business conventions to trade shows and motivate people to excel in their businesses and in their personal lives.  What I discovered is that they cater to the millions of people who are pushing to do better.
 
I recently acquired a dilapidated property at foreclosure court.  It is a half-duplex which was an absolute mess.  There were holes in, and graffiti on the walls.  Mounds of clothing, fast-food boxes and bags, dishes and drug paraphernalia were in every room.  The yard was unkempt, the dryer vent wasn’t hooked-up and patchwork caulking of windows and doors only served to worsen the water infiltration problems.  What I discovered is that there are millions of people who don’t push to do better at all.
 
If the world’s wealth was redistributed evenly on January 1, 2015 with a capitalist system still in place, then the wealthy would have their mega-fortunes back by Christmas and the unmotivated would have squandered their increase by mid-summer.
 
I don’t seek wealth itself.  I motivate myself so that I can bring a better me to the table to serve my clients, my family and my neighbors.  If I am a good servant to these, I stand to gain respect, lasting friendships and possibly wealth. 
 
This reminds me of the biblical parable of the talents (or bags of gold.)  The master before embarking on a journey gave 5 talents to one servant, 2 talents to another and 1 talent to a third.  The first two invested their lot and earned a 100% return and the third buried his in a hole, and then returned only the principle.  The master upon returning rewarded the first two, and scorned and cast-out the latter.  He then gave the one who had doubled his 5 talents the 1 talent that the unsuccessful servant had hidden.  The conclusion is that those who are faithful when trusted with little things will be entrusted with more. 
 
If you are entrusted with a business, look upon your clients as talents.  Your sacred quest is to double the number of clients you serve.  By increasing your capabilities to handle twice as many clients, your labor will be rewarded with more opportunity. 
 
There is choice in this world.  You can position yourself anywhere along the spectrum between the seminar-gobbling masses who want to take over the world and the lazy bums who inhabited our dilapidated abode (which due to Mrs. Toddwaz’ and my effort is now a beautifully renovated rental suite.)
 
If it’s a matter of balance between business achievement and personal growth or recreation, it takes thought, effort and some degree of motivation to get there.  Take a moment today to reflect on where you are in your career or business and make a commitment.  Do you want to strive to do better?  Is your career or business satisfactory and you need to commit yourself to improving your health, relationships or recreational persuits?  Have you lost your motivation?  If you are currently executing a plan to achieve your goals, then good for you!  If not, you may want to clean up a few messes in your life, or seek some coaching to help you along.

Monday, 21 July 2014

Simplify for Success

Some of the most successful songs are very simple, so why do we try to over-complicate our sales pitches?  


Simplify for Success

This past week, I planned and participated in a workshop for Church worship bands.  It’s surprising how many times I though “Wow, being in a band is just like being part of a sales team!”  The facilitator Corey, is an accomplished guitarist and singer, and has led many bands.  He shared with us the ironic fact that the better he gets at playing the guitar, the more he simplifies what he plays and the better he sounds.  Hmmm

Corey got me to thinking, “isn’t that the way it progressed when I was working in jewellery stores?”  I began not knowing much, so I didn’t have much to say.  Then I learned about gemology, custom design, watch functions, industry news and jewellery history.  I had tons of things to say.  I could (and did) regurgitate jewellery-talk on command – boring the heck out of my prospects, and missing opportunities to build relationships and close sales.

The better way is to have a million things to say, but keep each in your back-pocket until just the right moment.  A great song usually has a memorable guitar solo, piano riff, or drum solo.  The only way for these to be memorable is for the song to lead-up to it, so that the listener eagerly anticipates it.

If you talk peoples’ ears off, they’ll divide their attention according to the number of words you speak.  The longer you drone-on, the less impact each word has.  If you ration your words, those fantastic value-added statements and closes that you have in your repertoire will be well received when the time comes.

Prepare professionally then apportion your words at just the right time.  It will be music to your client’s ears!

Friday, 11 July 2014

Trend Spotting

Design Trends to be Revealed at Western Canadian Jewellery Expo

The summer jewellery shows are fast approaching.  Among the many important functions of attending trade-shows is seeking-out new trends.  You don’t want to miss-out on the latest and greatest.

What will be the trends for Fall 2014?  What is a trend?  How long does its’ popularity have to endure in order to be considered “trendy.”  Is it nothing more than something popular?  If that’s the case then aren’t boring run-of-the-mill designs that appeal to a broad audience trendy?  Is it important to carry trendy designs, or can you distinguish yourself in your marketplace by promoting counter-trends?  What does it take to start your own trend?

These questions and more will be discussed at the Western Canadian Jewellery Expo’s Connect for Success seminars on Thursday August 14th – the day before the show starts.  Yours truly will be moderating a panel that includes Lilian Jensen from Customgold, Irina Lychak of Canadian Jeweller Magazine and Montreal based jewellery designer, Claire Vessot.

Other speakers will address “Top 10 Mistakes in Jewellery Display,” “Understanding Jewellery Crime Trends in Canada” and “Social Media Marketing.”  Rumor has it that there may be a round-table discussion after the seminars where you can corner the speakers and discuss hot-button issues.  Visit cjexpos.com for more information about the show.

I hope to see you there!

Tuesday, 10 December 2013

C’mon PEOPLE!

If you don’t receive Aleah Arundale’s (formerly Seagal) emails from Olympia Diamonds, they’re extremely well-done, have thought-provoking marketing and product-knowledge messages, and appear to be highly effective at promoting her business.  Her recent email focuses on making big promises in your advertising.  In her words;
Your claim could be "If you buy her a big diamond, you will never have another fight and your teeth with be whiter!!"  Silly? Yes, but it made you smile, pause, and there is a little bit in all of us that wants to believe it is true....

I’ve quoted David Ogilvy before, who said, “the heart and soul of advertising is; A BIG PROMISE."  I believe in making big promises too – as long as they’re hyperbole as above or genuinely beneficial to your audience.   A certain department store believes in making big promises that are neither humorous, nor genuine.  Today only, you can buy a pair of 1.5ct tw diamond studs and save over 75%!  That’s a pretty MASSIVE promise. 

Hmmm.  Didn't we just pass through “Black Friday?”  Isn’t that the day where merchants begin to operate in “the black?”  What are you saying, famous vendor of striped blankets?  Are you saying that we’re in the most lucrative season for merchants and you’re so desperate for cash that you’re willing to sell those diamond studs for less than you paid for them?  Are you saying that you typically mark product at 4-times your cost, and these are being sold AT COST?  Are you saying that someone who bought those same earrings yesterday paid 4-times today’s price?  Will they be getting good value if they purchase them tomorrow at 4-times that incredible price?  Has anyone, in fact, ever paid you $8,000 for those diamond studs?  Are you promising me that I’d have to pay $8,000 if I bought the same quality of diamond studs elsewhere? 

When consumers see this massive discount, is there a part of them that smiles, pauses, and wants to believe it’s true?  I’m sure there will be some misguided dupes.

Is it possible, oh historic Canadian merchant named after a large body of water which borders Northern Ontario, Manitoba, Nunavut, and Quebec that you bought really crummy diamonds for less than $1,999, put them in 18kt gold settings to make them seem valuable, and then pulled an outrageous retail price out of your @$$ that was 300% more than what you wanted to sell them for so that you could WOW people with a 75% discount and still make a profit? 

My money’s on this latter scenario.  It might have to be if they sue me because some of you repost this to your clients and the unnamed department store’s legal department takes offense.

TW

Wednesday, 20 November 2013

Orm Shultz will be missed!

Entrepreneur, gentleman and well-respected member of the jewellery industry Orm (Ormand) Shultz passed away on Monday night.  Warrington’s Jewellers closed its’ doors almost one year ago after 48 years in business and 39 years in Prairie Mall.  The family still owns and operates Jonathan’s Jewellers in Prairie Mall, and along with the long-serving staff will miss “Mr.’s” leadership and encyclopedic knowledge.  As a sales rep, I was often astounded at his ability to identify his fast-selling designs without the aid of a computer.  With two stores and dozens of suppliers I always received a fair dose of undivided attention from him; which is why he had won numerous “Gold Nugget” awards from the rep’s associations when there was such a thing.  My thoughts and prayers are with his family and staff during what will continue to be a very busy month no matter how heart-sick they feel.

Reflecting back on one of the darkest times in my life and career, I recall being able to put-on a “good front.”  It’s not easy to focus on celebrating happy moments with your clients when you feel little joy inside.  This is the difference between a professional and an amateur in jewellery sales.  I don’t know anyone whose lives have been sunshine and rainbows the whole way along; yet some have the ability to rise to the occasion whenever a client walks through the door.

I think the key is this: as soon as a client walks through the threshold, your focus is on their needs, their emotions and finding a winning solution to their current circumstance.  Whether you’re in the middle of a personal crisis, or just absorbed in busy-work as part of your responsibilities in the store, you need to be “other-centered, servant-hearted people” to your visitors the instant you spot them even thinking about coming in.  If you’re grieving or having some personal difficulties, share it with your owner or manager, and tell them you’re going to try to focus on clients in order to do your job the best you can while you’re on the clock.  Ask them to give you feedback if you’re not accomplishing that.

Look, it’s not about fake-enthusiasm in this business.  It’s about a solid conviction that your store and your product are the best possible solution to your client’s needs and desires.  When you put the person across the showcase from you first, and you know the amazing benefits of dealing with you and buying what you have to sell, you can push through any personal crisis and be effective.