3 Jewelry Store Promotion Ideas That Don't Cost a Dime
If you've been in business long enough, you know there's "no such thing as a free lunch."
There's always an opportunity cost for your time (which is increasingly valuable during the holiday shopping season), but rolling up your sleeves and accomplishing something without directly detracting from your bottom line is a wonderful feeling.
When it comes to jewelry store promotion ideas, you don't necessarily need to run a sale, put on an event, or have a wide-reaching advertising presence to bring customers in.
Many retailers use these three tactics alongside their regularly planned holiday promotions to boost the effectiveness of their efforts:
1. Collect contact information
Start building relationships right at the point-of-sale by gathering email addresses, street addresses, phone numbers and any other ways you can get in front of your loyal customers.
Apply the 80/20 rule (80% of your sales come from 20% of your customers) and spend time appealing to those who already know and trust you. Sending reminders for jewelry cleaning, maintenance, and appraisals is a terrific way to stay in touch with loyal customers instead of only telling them when you're having a sale.
Plus, your customers who insure their personal jewelry with Jewelers Mutual have the flexibility to choose you, their preferred jeweler, for the services you provide. Better yet, you get paid directly for claim-related work.
2. Use industry resources
Yes, there's an upfront cost associated with being a member of a group like Jewelers of America, but its free marketing and promotional resources are reasons to become and remain a member.
If your business doesn't have an official marketing department you can think of JA as an extension of your business to help with promotion and boost consumer awareness of jewelry in general.
3. Curate content on social media
If you're having trouble coming up with original, creative content to share on social media, you're not alone.
Instead of being silent and unengaged while you think of your next great idea, why not see what others in the jewelry industry are doing?
For example, Jewelers Mutual is working with the American Gem Society to offer a Facebook sweepstakes during the 2016 holiday shopping season. The winner of the Season to Sparkle Sweepstakes will receive $1,000 to spend at an AGS jeweler of their choice.
By sharing content like this (check out our Facebook page starting December 1), you can capitalize on industry-wide efforts to spur demand for jewelry and not worry about all the legwork that goes into creating and managing a promotion. Plus, if the winner chooses you, that will help your bottom line!
This is just one timely example of using existing content to get your followers on social media excited and in the jewelry-buying mood. If you are a member of JA, AGS, or another industry organization, keep an eye out for these throughout the year and use them to your advantage.
It's still not technically a "free lunch," but it's probably the closest a jewelry store promotion idea will come.