CollectionsApr 25, 2025
Sylvie Looks to Water in New Sculptural Bridal Collection“Shell Auranova” is the next generation of the brand’s bridal line, featuring half-bezel engagement rings with bold and fluid designs.
IndependentsJan 08, 2019
Marketing Minute: Every Buyer Feels at Risk
It’s the jewelry salesperson’s job to put them at ease using a little SPIN, Jim Ackerman writes.
Jim Ackerman is a retail jewelry marketing expert who has spoken at JA New York, JCK and other jewelry trade shows. He can be reached at 800-584-7585, ext. 3 or by email at mail@ascendmarketing.com.
A buyer comes in looking for something for his wife. Is he taking a risk? How so … and how much? How does this effect his buying decisions, and what can you do about it?
Answers: Yes, he’s at risk. How much depends on a number of things, but it definitely affects his buying decisions and you can definitely help manage the risk.
And you must, if you want to increase your closing rate and your average transaction, as well as lock in rock-solid client loyalty for life.
If you’re thinking the prospect is at risk of making a financial mistake, you’re missing the much bigger picture. His risk is emotional in nature, and the money is a relatively minor part of that.
If the prospect comes in to get a Valentine’s Day trinket for his wife, the risk level is relatively low.
If the prospect comes in to get a big thank-you gift because his wife has just spent four years helping him get through medical school, the risk is significantly higher.
His need to “get it right” puts a lot of pressure on him that has little to do with money.
Your job, as a professional jewelry salesperson is to do the following.
1. Help the prospect understand his risk.
2. Help the prospect understand the depth and implications of that risk.
3. Help the prospect see the benefits of making a good, risk-eliminating decision.
4. Make sure the prospect’s decision is adequate to resolve his “problem” and eliminate the risk.
In the case of the Valentine’s trinket, risk is small and little needs to be done beyond helping the prospect find the right product for the right price, take the order and send him on his merry way.
But if you use the same approach in the thanks-for-medical-school scenario, odds are you’ll flat-out blow the sale.
Regardless of your experience or selling style, in the second scenario, you must assess the situation, identify the problem, explore the depth and implications of that problem and then define the benefits of resolving that problem, all before worrying about what product to sell.
You do this by asking a series of questions, specifically designed to accomplish those goals.
These questions can be thought out in advance, tested and refined, and can apply to virtually any and every prospect in a high-ticket buying situation.
Think SPIN …
Situation
Problem
Implication
Need payoff
Once you use those questions, you’ll know what the prospect’s need
is, how big of a deal it is, how important it is he gets it right, and what the rewards will be for solving the dilemma.
You’ll also benefit from the perception you have conveyed that you care more about the prospect than you do about “hawking product.” And that always translates into sales and loyalty.
Once you have shown the prospect a product he likes, ask this: Is this adequate to fully express the emotion you indicated you want to express?
If the answer is yes, you’ve got your sale. If it’s no, you can go bigger or go more, and you will add to your sale.
The prospect wins either way, and so do you.
Jim Ackerman is known as The Marketing Coach to the jewelry industry and has addressed jewelry retailers at jewelry trade shows including JA New York, JCK, the Atlanta Jewelry Show and others. He is providing National Jeweler readers with a free Buyer Risk Management copy of his BizKaboom Newsletter, valued at $37. Send your email request to mail@ascendmarketing.com.
You’ll also benefit from the perception you have conveyed that you care more about the prospect than you do about “hawking product.” And that always translates into sales and loyalty.
Once you have shown the prospect a product he likes, ask this: Is this adequate to fully express the emotion you indicated you want to express?
If the answer is yes, you’ve got your sale. If it’s no, you can go bigger or go more, and you will add to your sale.
The prospect wins either way, and so do you.
Jim Ackerman is known as The Marketing Coach to the jewelry industry and has addressed jewelry retailers at jewelry trade shows including JA New York, JCK, the Atlanta Jewelry Show and others. He is providing National Jeweler readers with a free Buyer Risk Management copy of his BizKaboom Newsletter, valued at $37. Send your email request to mail@ascendmarketing.com.
More on Independents
The Latest
FinancialsApr 25, 2025
Kering’s Jewelry Brands Persevere as Q1 Sales Sink 14%Boucheron and Pomellato performed well in an otherwise bleak quarter for Kering amid struggles at Gucci.
EditorsApr 25, 2025
Piece of the Week: Deborah Meyers Experience’s ‘The Birds’ EarringsDesigner Deborah Meyers created her birds from oxidized sterling silver, rose-cut diamond eyes, and Akoya Keshi pearl feathers.
Brought to you by
Emerging Jewelers Accelerator Program Announces Second Cohort of Aspiring Jewelry Entrepreneurs Six new retail businesses were selected for the 2025 program, which began in January.
SourcingApr 25, 2025
De Beers Sales, Production Fall in Q1 Amid UncertaintyThe company said it expects sightholders to remain “cautious” with their purchasing due to all the unknowns around the U.S. tariffs.
Weekly QuizApr 24, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Supplier BulletinApr 24, 2025
Protect Your Customers and Your BusinessSponsored by the Gemological Institute of America
EditorsApr 24, 2025
Q&A: Wolf’s CEO Talks U.S. ExpansionSimon Wolf shares why the time was right to open a new office here, what he looks for in a retail partner, and why he loves U.S. consumers.
Brought to you by
Protect Your Customers and Your BusinessThe risk of laboratory-grown diamonds being falsely presented as natural diamonds presents a very significant danger to consumer trust.
FinancialsApr 24, 2025
Charles & Colvard Delisted From Nasdaq Due to NoncomplianceThe company failed to file its quarterly reports in a timely manner.
SourcingApr 24, 2025
Young Diamantaires Transition to NonprofitThe organization also announced its board of directors.
TrendsApr 24, 2025
Amanda’s Style File: So CharmingCharms may be tiny but with their small size comes endless layering possibilities, from bracelets to necklaces and earrings.
MajorsApr 23, 2025
Bulgari Doubles Size of Jewelry Factory in ItalyLocated in Valenza, the now 355,000-square-foot facility includes a new jewelry school that’s open to the public, Scuola Bulgari.
Events & AwardsApr 23, 2025
PDPaola Creative Director Wins FGI’s ‘Rising Star’ AwardPaola Sasplugas, co-founder of the Barcelona-based jewelry brand, received the Fine Jewelry Award.
AuctionsApr 23, 2025
Rare Custom Rolex Daytona Heads to AuctionA platinum Zenith-powered Daytona commissioned in the late ‘90s will headline Sotheby’s Important Watches sale in Geneva next month.
MajorsApr 23, 2025
David Yurman’s New Campaign Stars Carmelo Anthony, Jaylen BrownThe basketball stars wear men’s jewelry from the “Curb Chain” collection.
MajorsApr 22, 2025
Zales’ Rebrand Takes Playful Approach to Fine JewelryThe Signet Jewelers-owned retailer wants to encourage younger shoppers to wear fine jewelry every day, not just on special occasions.
AuctionsApr 22, 2025
Christie’s to Auction JAR Jewelry CollectionThe 21 pieces, all from a private collector, will be offered at its Magnificent Jewels auction next month.
ColumnistsApr 22, 2025
The PR Adviser: Building Buzz Through Word of MouthLilian Raji answers a question from a reader who is looking to grow her jewelry business but has a limited marketing budget.
GradingApr 22, 2025
Avi Levy Is GCAL By Sarine’s New Chief Growth OfficerGCAL by Sarine created the new role to sharpen the company’s focus on strategic partnerships and scalable expansion.
Events & AwardsApr 21, 2025
An Exhibition Exploring the History of Cartier Is Now on Display“Cartier: Design, Craft, and Legacy” opened earlier this month at the Victoria and Albert Museum in London.
IndependentsApr 21, 2025
New York Jeweler to Close After 111 YearsVan Cott Jewelers in Vestal, New York, is hosting a going-out-of-business sale.
IndependentsApr 21, 2025
IJO Names New Director of Vendor Relations, Merchandise StrategyIndustry veteran Samantha Larson has held leadership roles at Borsheims, McTeigue & McClelland, Stuller, and Long’s Jewelers.
Events & AwardsApr 21, 2025
Jewelers of Louisiana, Mississippi Jewelers Association to Co-Host ConventionThe two organizations will hold the educational event together this fall in Mississippi.
Events & AwardsApr 18, 2025
Daymond John to Give Keynote at JCK Las VegasThe entrepreneur and “Shark Tank” star will share his top tips for success.
CollectionsApr 18, 2025
Piece of the Week: Dukachi’s ‘Easter Bread’ PendantThe Ukrainian brand’s new pendant is modeled after a traditional paska, a pastry often baked for Easter in Eastern European cultures.
IndependentsApr 18, 2025
Bremer Jewelry to Reveal Renovated StoreThe jeweler has announced a grand reopening for its recently remodeled location in Peoria, Illinois.
MajorsApr 18, 2025
Tiffany & Co. Employees Star in Mother’s Day CampaignThe “Strong Like Mom” campaign features moms who work at Tiffany & Co. and their children.
