- New DVD Series – Stone Setting with Wire
- NEW DVD Series: Introduction to Stone Setting by Kim St. Jean
- Featured Tool: Bracelet Bending Plier
- NEW Dvd by Eva Sherman
- Fun, Fast Fold Forming DVD Series
- Daily Wire Tip Oct. 4: 28-Gauge Wire Project Ideas
- Introducing Coiling & Weaving Wire Jewelry DVDs
- Daily Wire Tip Feb. 5: Setting Large Gems in Prong Pendants
- Daily Wire Tip Sept. 7: Variations on Woven Beaded Bracelet
- Daily Wire Tip Aug. 14: Formulas for Pricing Jewelry
How To Instantly Increase Your Jewelry Sales By Up To 70%
How to Instantly Increase Your Jewelry Sales
by up to 70%
by Gary Capps, guest author on Wire-Sculpture.com
Now I realize that this is a bold headline.
Can it really be true?
Is it really possible that you can increase the sales of your jewelry by up to 70% instantly?
Well the answer is yes, and I’m going to explain to you a head-slapping simple sales technique that can help you do just that.
Before I do that I just want to take a second to introduce myself to the readers of the Wire-Sculpture.com blog.
My name is Gary Capps and I am the owner and creator behind Bead Manager Pro Jewelry Software. Over the last 5 years we have been helping jewelry artisans just like you to create profitable jewelry businesses.
I’ve been lucky enough to work with hundreds of people during that time and get insight into the ins and outs of what works and what doesn’t work to help coach those people to make a success of their passion.
Last year we became good friends with some of the great team at Wire-Sculpture.com and Rose asked me if I would share some of the tips we’ve learnt over the last few years here on the blog.
Now I’m pretty sure most business owners would like to be able to increase their sales by 70% instantly, but it just doesn’t work in every business.
However, the great news is that this little gem of advice (excuse the pun) works perfectly in the home jewelry business.
This is so simple it’s brilliant; when I heard about it I was amazed by the simplicity yet full power of the way that a few little words could change a business.
That’s right: words.
You may be doing this already, selling one item for $30 and two for $50, but what do you SAY when someone asks you the price.
Here’s the conversation most people have:
Customer: “How much is that necklace?”
You: “They’re $30 each, or you can buy two for $50.”
Customer: “Thanks, I’ll take that one.”
Now check out a new way of saying things:
Customer: “How much is that necklace?”
You: “They’re two for $50.”
Customer: “Ok, those two are nice, I’ll have them.”
Obviously this is a very simplified version of any potential conversation, but do you see the subtle difference?
Before, they were given a choice.
Now we are only giving them one option.
Do not underestimate this very tiny change in language.
By giving the customer the option to purchase two items the majority of the time, if a customer is already serious about making a purchase, they will upsell to two items.
If you think this sounds to simple you should know that McDonalds have added millions to their bottom line every year with this same basic strategy.
Think about it, you go to McDonald’s, order a burger and what do they say?
“Would you like fries with that?”
Those 6 simple words are literally worth millions and millions of dollars every year to McDonalds.
It’s the same basic sales principle that you can add to your jewelry-selling arsenal.
This is why I said it only works for some business; obviously, if you’re selling houses, the two-for-one offer doesn’t fly much, but when we’re looking at smaller impulse buying, this can have tremendous effect on your bottom line.
And of course if the customer says they only want one, well, there’s no law says that you shouldn’t just sell them one, but try to sell two at first.
Now preparation and setup for a show can help increase how this strategy will work, so let’s review some of the basics there.
Preparing For A Show:
To increase your chances of success even more using this very simple strategy lets take a look at how you prepare for your next craft show or home jewelry party and what you might make to help improve your double sales technique.
Think about the preparation ahead of time and plan what you are going to make and how you are going to display it.
Research the show and the type of audience that are going to be there.
One of the most important things you can do is ask the organizers for sales figures from last year’s show and what the average spend was.
This can be vital information because if you know that the average spend last year at the show you’re just about to attend was $50, and you are planning on trying to sell $200 pieces, you are likely to have a hard time.
Knowing this ahead of time you can create the right pieces at the right price point for the audience you are about to encounter.
To make the two-for-one sale strategy work even better try making matching sets of necklaces, earrings, bracelets, and rings.
If you get a customer at your booth who falls in love with your beautiful necklace that you have made that you’re selling for $30, how hard do you think it would be to upsell them to a matching pair of earrings for another $20?
Certainly nowhere near as hard as trying to sell them a completely separate piece.
But what about if you specialize in creating One-Of-A-Kind (OOAK) jewelry pieces with no matching sets?
Don’t worry, let’s look at setting up your displays and how you can help to increase your double sales odds by setting up the correct way.
How To Display Your Jewelry Pieces:
There’s normally a pretty typical way that that a lot of artisans will display their jewelry at shows and it’s not eye catching.
I’m sorry, but it’s true for so many.
How many shows have you been to where you lift things out of trays, dig underneath one bracelet to get to another, or everything’s just laying flat on a table so nothing catches your eye at all when you walk past?
Quite often I’d bet.
So take moment to set your stand up in a way that it catches your eye as you walk past.
If you have created matching sets, keep them together but elevate items off the table at different levels.
While a flat table looks beautiful, when you’re up close, because you can see everything at once, nothing catches your eye to start with to get customers there.
If you have OOAK pieces, keep them in groups, so your necklaces together, your earrings together, your bracelets together, etc.
That way when someone picks up one piece and asks how much it is, you’re ready to say “Those are two for $50″ straight away.
Set up at least one piece as a “Wow” centerpiece attention-grabber. You can use lights or mirrors to accentuate effects as well.
Make sure once you are done setting up that you walk away for at least 5 minutes to clear your brain, then come back and look at your stand from different angles.
- Does it catch your eye?
- Would you stop to look at that centerpiece there?
- How do the other stands look around you?
- Are they more eye catching?
You need to get people to your stand to be able to sell them anything, so having a centerpiece can just help to catch people’s eye and get the most basic transaction started: a smile.
Remember, a smile can lead to a conversation, which leads to questions and when they ask “How much?” now you know what to say: “Those are two for $50″!
So in final summary:
- Most Important: Price two items into each sale transaction as a FIRST sale attempt. If you don’t get that, you can always come down to one item.
- Know your market and price point, and be prepared for your next show.
- Create the right pieces for your market.
- Create a unique eye-catching display.
- Take advantage of any interaction and SMILE.
- Be genuine, honest, and helpful to your customers, they’ll appreciate it.
So give this a go at your next booth sale or jewelry party. Be confident in what you say and make sure you offer your customer assistance with their choice.
If you leave any comments or questions below I’ll do my best to answer them for you.
Bead Manager Pro Jewelry Software