Designer’s Diary: A Refund on Love?

to feel? Other times they are putting so much emphasis on finding the perfect rock in an effort to distract them from their fears. Our job is to help them remember that if they weren’t nervous, well it wouldn’t be worth it, would it?

Another thing that we all seem to lose sight of is how a man or woman starts his initial search for a ring.

It’s all word-of-mouth, even to this day. This is the type of purchase where the buyer isn’t going to trust the advertisements or marketing that’s been thrown his or her way. If anything, the customer rejects this noise in favor of asking a trusted friend. Sometimes, if we are lucky, he or she will go to a reputable online diamond forum to educate themselves more about the 4 Cs of diamonds: cut, clarity, color and carat.

Does this mean all our marketing efforts are to be tossed aside? Absolutely not, but it gives us a better understanding of our client’s modus operandi. These terrified young men and women can smell artificial concern a mile away. You want to win their business? You have to win their friendship and trust first.

Sometimes the best advice I’ve received has at first seemed counter-productive. You want more of my time? But education is essential to building a level of transparency, trust and kinship with your client base. Some choose to do this online and I applaud their efforts. I do more of my free education over the phone or email. I’ve talked to probably hundreds of men and women over the years about diamond purchases. And no, not all of these people have become clients of mine. “What a waste of time!” you might say, or “I don’t have the resources for this nonsense.” Well, the current economy indicates that you probably don’t have the luxury of not completing this exercise. Not all your educational tools are going to win you new business, nor should they as that would not be education, but propaganda. When you educate buyers you are being of service, you are helping your community (if not yourself), and you might run across a few questions that lead you to a very humble “I don’t know.” By helping our customers become better informed, we too stay on top of current happenings in the industry.

One way I see a lot of retailers shooting themselves in the foot is by sizing up their clients when they walk into the door. It’s the old retail adage that needs to be quickly destroyed. A wealthy client sometimes shows up to shop in their Sunday best, but, these days, they’ve often just walked out of the gym in a tank top and leggings. If we judge a book by its cover, we do ourselves an extreme disservice. Let’s not forget the founders of Stanford University: two wealthy benefactors that were so disgusted by their treatment, based mostly upon dress code and their accents, that they decided to take their money elsewhere and start their own school. 

Not to mention, I’m also a believer that no budget should ever be scoffed at. If you are only thinking with profit margins as your end-goal with bridal than you have missed the point completely. There is no value to ever be placed upon love. Sometimes my smallest customers have brought me my hugest clients, and sometimes my smallest customers are merely there to remind me why I build engagement rings in the first place.

Lastly, I’ve heard many a horror story from a client who walked away from a larger jewelry store because of the way they were treated. When they voiced some discomfort or unhappiness about their purchase, a full refund was offered. Seems like simple business logic, right? Wrong. A bridal client should never be given a refund. There is no refund on love. It’s timeless, endless, and priceless. What the large guys seem to have forgotten is that although this is a business, it’s a business of love. Those clients weren’t looking for their money back. They were looking to be heard, cherished and were hoping someone could understand the significance of their love story. We do. We get it. We got into this business because of a captivating love affair with jewelry.

Letting go of your numbers and your bottom line is not an easy exercise. But when you realize you are building fine jewelry for people, for memories and for magical moments, you start to surrender your fear-based philosophies about sales and pick up hope.

Buying an engagement ring is one of the most hopeful and optimistic purchases on the market today. We could all learn a thing or two from the risk-taking soulmates who present themselves to us in a world driven by dollar signs.

Jacqueline Stone has a background in finance, marketing, advertising, product development, fine jewelry manufacturing, design and sourcing. She currently is the chief creative officer of her company, Salt + Stone, working primarily with private clients to build custom engagement rings and wedding bands. Stone can be reached at shine@saltandstone.com.