Independents

Marketing Minute: Stop Leaving Money on the Table

IndependentsJan 09, 2017

Marketing Minute: Stop Leaving Money on the Table

In 2017, jewelers need to figure out better, more productive ways to market their stores, columnist Jim Ackerman writes.

2016_Jim-Ackerman.jpg
Jim Ackerman is a retail jewelry marketing expert who has spoken to jewelry retailers at JA New York, JCK, The Smart Jewelry Show and others. He can be reached at 800-584-7585, ext. 3 or by email at mail@ascendmarketing.com.

Forgive me a New Year’s boast, but several of our clients had incredible years in 2016.

This is something we at Ascend Marketing take pride in, and some credit for, because in each case we assisted them with the marketing that resulted in substantial--sometimes even dramatic--sales, revenue and profit increases.

But the real credit goes to the forward-thinking jewelers who came to a critical realization about their businesses and their roles within their businesses.

Kyle Bullock of Bullock’s Jewelry in Roswell, New Mexico, may have said it best: “Expected to be down 20 percent this year because of the oil issues in our area. Decided to get proactive and put our minds to work halfway through the year--we are beating last year's number! Special thanks to Jim Ackerman and Ascend Marketing for starting our season with a turnkey promo that has been the most profitable and successful promotion we’ve ever had to date!”

Not a bad claim from a 90-year-old store and a fourth-generation jeweler. Love it!

But the key sentence in that quote is NOT the accolade for me or our turnkey program. It’s in Kyle’s second sentence, “Decided to get proactive and put our minds to work.”

Kyle, Bonnie Harris Frey, Hadley Perry Pacheco and a host of others made a decision. They looked at their markets, the economy, the trends and their marketing and decided they were no longer content to just let things continue as they were; that there had to be better, more productive ways to do things. And most importantly, they acted on their decisions.

In each case, these independent jewelry store owners shifted their attitudes and their roles within the business. They began to realize that their primary responsibility to their enterprise is to bring people through the doors, and therefore their primary role within the business needed to shift to CMO or chief marketing officer.

They also realized that the old Yellow Pages/newspaper world of yesterday is gone, but the over-digitized marketing world of today has not yet been mastered. And in that realization they concluded they must move to a direct response approach to marketing, advertising and sales, which is testable, traceable, measurable and improvable.

Their actions toward that end made all the difference, as each experienced marketing initiatives and events that generated tens of thousands more for their stores than they had previously experienced.

Just a few quick examples ...

Harris Jewelers’ Bonnie Frey took a

different approach to an estate sale and generated $61,000 on a mailing to a list of just 312 people in one weekend. It generated nearly a 12 percent response at an expense of just $1,100.

Hadly Pacheco of Perry’s at Southpark does a customer appreciation event each Christmas. By changing her marketing to a direct response initiative sales went up by more than $198,000 this year over last (almost triple) with no increase in marketing costs.

And Bullock’s private sale to just 150 customers consisted of a two-page sales letter in a hand-addressed envelope with a live stamp. The $300 marketing investment generated upwards of $70,000 in one week, nearly $50,000 of which was profit.

Now, here is the question and the challenge for you.

How much money have you left on the table in the last five or 10 years because you have not made the same decisions that these jewelers and dozens of others of our clients have, to become a better marketer? How much did you leave on the table in 2016 alone?

Finally, will you continue to market as you have in the past, both in the attention you give to marketing and in the way you execute your marketing? And therefore, how many tens of thousands of dollars--or perhaps more--are you willing to leave on the table in 2017?

If you haven’t changed your attitude and approach to marketing, isn’t it time for you to do so?

Marketing speaker Jim Ackerman has addressed jewelry retailers at JA New York, JCK, The Smart Jewelry Show and others. Ackerman is providing National Jeweler readers with a $397 Marketing Fitness Check-up, for just $97 until January 31. Send an email request with your name and phone number to mail@ascendmarketing.com
Jim Ackermanis a retail jewelry marketing expert who has spoken at JA New York, JCK and other jewelry trade shows.

The Latest

Stock image of people shopping in a mall
SurveysApr 03, 2025
2025 Retail Sales to Grow More Slowly Amid ‘Uncertainty,’ Says NRF

The National Retail Federation expects retail sales growth to return to pre-pandemic levels as consumers continue to face inflation.

Tallulah Willis’ Engagement Ring
TrendsApr 03, 2025
Tallulah Willis Imbues Antique Engagement Ring With Magic

The 4-carat, old mine brilliant-cut diamond engagement ring was co-designed by Willis and New York City-based brand Karina Noel.

158.2-carat yellow diamond from Diavik
SourcingApr 03, 2025
Canadian Mine Produces 158-Carat Yellow Diamond

Rio Tinto unearthed the diamond at its Diavik mine in Canada’s Northwest Territories.

bench jeweler 1872x1052.png
Brought to you by
The Heart of the Industry: Giving Bench Jewelers the Recognition They Deserve

Bench jewelers spend years honing their skills, Jewelers of America’s Certification validates their talents.

Buccellati Naturalia exhibition
CollectionsApr 03, 2025
Buccellati to Open Immersive Exhibition in Milan

The multisensory experience, open April 8-13, will feature the brand’s silver creations among dream-like scenes of natural landscapes.

Weekly QuizMar 27, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Jewelers of America logo
Policies & IssuesApr 03, 2025
Jewelers of America to Hold Webinar on Tariffs

The virtual event will take place April 7 at 3 p.m.

Bea Bongiasca Animali Tarallo Collection Royal Blue Tang Fish “Dory”
CollectionsApr 02, 2025
Bea Bongiasca’s ‘Tarallo’ Collection Expansion Is a Zoo

The pieces in “Animali Tarallo” portray animals from stingrays to elephants through portraits and interpretations of their patterns.

Facets-of-Fire-Difference-You-Can-See.jpg
Brought to you by
Natural Diamonds Should Mean More

Natural diamonds mean more than lab-grown, but when every cut is ideal, they all look the same. Customers want more—Facets of Fire delivers.

Neiman Marcus Downtown Dallas store
MajorsApr 02, 2025
Neiman Marcus’ Dallas Flagship Will Remain Open, For Now

Parent company Saks Global said the iconic location will be open through the holiday season as it decides what to do with the space.

Natural color diamonds on display at Smithsonian National Museum of History
SourcingApr 02, 2025
Winston’s Collection of Natural Color Diamonds Now on Display in D.C.

Ronald Winston, son of Harry Winston, donated the diamonds to the Smithsonian National Museum of Natural History in Washington, D.C.

Punchmark
Events & AwardsApr 02, 2025
Punchmark to Host Client Workshop

The educational event will take place in Charlotte, North Carolina, this May.

QVC Group Inc. logo
MajorsApr 01, 2025
QVC Group to Cut 900 Jobs in the U.S.

The layoffs come amid the TV shopping channel’s efforts to restructure and focus on live shopping through social media.

Coconut Grove Jewelry & Watch Show
Events & AwardsApr 01, 2025
U.S. Antique Shows Adds Fall Show in Florida

The debut event will take place in Miami’s Coconut Grove neighborhood this fall.

The Jewelry Symposium (TJS)
Events & AwardsApr 01, 2025
TJS to Host Discussion on Jewelry Industry’s Labor Shortage

The roundtable will take place May 17 ahead of the trade show’s welcome dinner.

Peanuts x Monica Rich Kosann Collection Bracelets
CollectionsApr 01, 2025
Monica Rich Kosann Says ‘Good Grief’ in Peanuts Jewelry Collection

The “Peanuts x Monica Rich Kosann” collection features the comic strip’s classic vocabulary across 10 bracelet designs.

Graphic for What Do We Mean When We Say “Recycled” Gold webinar
Recorded WebinarsMar 31, 2025
Watch: What Do We Mean When We Say ‘Recycled’ Gold?

Three industry experts dive into the complexities of the material often marketed as an “ethical” alternative for metal in jewelry.

Mindi Mond Clarity Earrings
TrendsMar 31, 2025
Amanda’s Style File: Dripping in Diamonds

Diamonds are not only one of the most prominent gemstones, but the birthstone for those born in April.

Lashbrook ring
MajorsMar 31, 2025
Lashbrook Expands Into Luxury Golf Gifts With Acquisition

The Utah-based company known for making wedding bands has acquired Doubloon Golf.

Bulgari and LVMH Watches CEO Jean-Christophe Babin
WatchesMar 31, 2025
Bulgari CEO Jean-Christophe Babin Will Also Head LVMH Watches

The longtime luxury executive led one of LVMH’s watch brands, TAG Heuer, for 12 years before taking over Bulgari in 2013.

Surveillance footage of robbery
CrimeMar 28, 2025
2 Suspects Arrested in $1.7M Smash-and-Grab Robbery of NY Jewelry Store

Authorities said the robbers fled with jewelry and 70 Rolex watches, later taking pictures of themselves posing with big stacks of cash.

Nephrite and Jadeite by Heinrich Fischer, Richard W. Hughes
SourcingMar 28, 2025
19th-Century Jade Book Now Available in English

Lotus Gemology founder Richard W. Hughes has translated Heinrich Fischer’s 1880 book “Nephrit und Jadeit” from its original German.

LÖF The Valentine Ring
CollectionsMar 28, 2025
Piece of the Week: Löf’s ‘The Valentine’ Ring

The ring's design features contrasting lines influenced by work from architecture-inspired photographer Nikola Olic.

Eggs on a shelf
SurveysMar 27, 2025
Consumer Confidence Falls in March Amid ‘Gloomy’ Outlook

The Conference Board’s index fell as consumers continued to worry about the impact of tariffs, the labor market, and the price of eggs.

Richard Rainsford memorial ring
AuctionsMar 27, 2025
300-Year-Old Ring Linked to Witch Trial Judge Goes Unsold at Auction

However, two medieval jewels surpassed estimates at Noonans Mayfair’s recent jewelry auction in London.

Austin Butler
WatchesMar 27, 2025
Austin Butler Joins Breitling as Brand Ambassador

The Oscar-nominated actor debuted in the campaign for the new “Top Time B31” collection, which introduced Breitling’s Caliber B31.

ICA Congress Brazil 2025
SourcingMar 27, 2025
Susan Jacques, Gaetano Cavalieri to Headline 2025 ICA Congress

The Congress is scheduled to take place May 19-22 in Brasilia, Brazil.

Bulova 150 Art Deco Miss America Watch, 150 Art Deco Pocket Watch
WatchesMar 26, 2025
Bulova Celebrates 150th Anniversary With Art Deco Watches

The “150 Art Deco” collection features a Miss America timepiece and a pocket watch from the brand’s Archive Series.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy