6 Customer Myths That Might Be Holding Salespeople Back
Peter Smith shares some misconceptions about consumers as well as his belief that product information should be treated like a condiment.
In order to do so, they need to understand what customers want when they come into a jewelry store and what they don’t want.
Here are six myths about jewelry customers that might be holding some salespeople back from performing at their peak.
1. Customers often come into stores just to browse.
When customers enter your store, they are not there to kick tires. They are signaling they have an unfulfilled need that should be satisfied.
I’m not a fan of the oft-used expression, “They have a problem that needs to be solved,” but there’s definitely a need.
That need may be conscious and easily articulated. It may be conscious, but not so easily communicated.
It might even be unconscious, meaning the customer has a low awareness of what their real motivation is.
But make no mistake, there is a need, and it should be uncovered by a curious sales professional asking relevant and open-ended questions in an empathic and caring manner.
2. Customers will let you know when they are ready to buy.
Nobody wants to be “sold” but customers want to be inspired to make a purchase, and it is a fundamental obligation for a salesperson to trigger that impulse.
Believing the customer always will spell it out for you is naïve.
Top salespeople know a satisfied customer is one who is leaving the store with a new piece of jewelry in hand and a skip in their step.
3. Customers don’t want to be pestered by salespeople.
On the contrary, your customer wants to have a relationship with you.
This is particularly true in a luxury retail environment, where there can be a good deal of anxiety and stress for customers when considering purchases.
Investing in customer outreach efforts is a gift to customers and makes it a whole lot easier for them to think about your business when it comes time to mark important moments in their lives.
“Product information in a luxury sales environment is like a condiment. It should be applied sparingly, lest it spoil the meal.” — Peter Smith
4. Customers crave your product expertise.
Customers mentally will check out when you make the interaction about you. Talking too much about everything you know is the quickest route to creating the brick-and-mortar equivalent of cart abandonment.
Product information in a luxury sales environment is like a condiment. It should be applied sparingly, lest it spoil the meal.
Your role is to engage the customer, not educate them.
5. Customers readily will share their budget.
Believing a customer will share their budget with you misses the point on two important levels.
First, it suggests they actually know what their budget is or should be, an assumption I would not recommend a salesperson make.
The customer may or may not know what their budget is at all, believing, as they should, that the salesperson is there to help inspire and influence their decision on what to spend.
The second consideration is that even when your customer does share their budget with you, it should never be taken as gospel. It is, more often than not, merely a reference point, not an end game.
If the customer volunteers their budget, know that you can work within a framework that ranges from half to double that number. Presenting those two extremes (high and low), plus an option in between, can be an effective strategy.
6. Customers always want the best price.
Your customer wants good value, not the best price.
More than that, they want to feel good about themselves when they walk out the door, and that means the salesperson helped them make the best selection, not the cheapest option.
Long after they have forgotten the price, your customer will remember how they felt about the choice they made.
More than 250 gem, jewelry, and mineral companies are expected to exhibit, including the American Gem Trade Association.
This year’s Design Atelier is full of gems.
They’re a testament to the power of excellent design.
The most trusted diamond report, available in print or the GIA App.
This year’s honorees include one of Florida’s largest independent jewelers and two multi-store independents in the Chicago and New York areas.
The industry’s most influential contemporary designers are showcasing their latest jewelry designs.
Created by Maitri Lab-Grown Diamonds and graded by IGI, it’s slightly bigger than the record-setting lab-grown diamond GIA just examined.
Navigate origin determination with Continuing Education seminars offered by the GIA Alumni Collective™.
The marketing agency has integrated its first C-suite.
The jewelry trade show also will debut educational content centered around social media.
Luxury kicks off today, with the full show in swing on Friday.
One of the three new collections was inspired by the legend of a woman who traded her mansion to Cartier for two strands of natural pearls.
Rob Ballew will be tasked with communicating the jewelry giant’s plans and financial performance to investors.
With the app, customers receive a 15-day insurance offer on new purchases while their coverage needs are being evaluated.
It is in House of Showfields, a bazaar-style retail space in the borough’s Williamsburg neighborhood.
From consumer trends to retail technology, these are the JCK Talks sessions that should be on attendees’ radar.
Signature pieces from Cartier and David Webb will appear in the June jewelry auction.
They will be celebrated at the annual dinner dance and gala in the fall.
Gemologists have long used machines in diamond grading but technology has made it possible for them to “learn” how to do it on their own.
Supplier Spotlight Sponsored by IGI
Watch retailers Jeffery Bolling and Bobby Bengivengo discuss employee training, customer education and the sticky subject of future value.
The company has plans to revamp the Movado brand and offer less expensive watches this year.
Set with a 118-carat unheated Sri Lankan sapphire, it just sold for $3.4 million at Phillips jewelry auction in Hong Kong.
Sponsored by Noam Carver
As cybercrime incidents threaten the industry, jewelers need to know what they’re up against and the best ways to protect their businesses.
The Pittsburgh jeweler is redoing the lighting and showcases, and adding a full hospitality bar as well as new shop-in-shops.
The Yurman Family Crystalline Pass is inside the museum’s brand-new Richard Gilder Center.