Five Simple Revenue-Boosting Tips for Jewelry Stores

Run a jewelry store? Want more revenue? If so, here are five simple tips to help you close more deals and put more money in your pocket.

Refine Your Reporting

Your long-term success or failure as a jewelry business is in large part dependent on your ability to change with the times, with the needs of your customers, and with the requirements of your business. “If isn’t broke, don’t fix it,” is often true for individual processes and for broad service principles, but the truth is that throughout history, the most successful enterprises have been the ones with a capacity for rapid growth and adaptation in response to change.

But simply making changes for the sake of it really is nothing more than a shot in the dark. To make effective, targeted change, you need robust reporting that helps you understand what is happening with your business and why. You need to collect data on everything, from sales performance to your consumer finance program. You need to store that data sensibly, and find ways of viewing it that don’t consume too much of your time. A business owner or decision maker who spends the lion’s share of their time poring over reporting in a back office is going to be less connected to their business than one who balances their time more evenly between functions and responsibilities.

The reporting solution that you land on – the one that works for your business – is going to be as unique as you and your company. And it’s going to provide you with data insights that help you make targeted, effective change based on evidence, not guesswork.

Identify an Edge

How do you stand out from the competition today and in days to come? How do you differentiate your jewelry business in what is, let’s face it, an extremely crowded market? It all comes down to finding your company’s edge. What is it that sets your jewelry business apart from others? What is it that makes customers flock to you, rather than the jewelry store down the street? In a world of lookalikes, how does your jewelry store stand apart?

This is a question that you will have to answer, and it’s one that deserves a lot of your time and thought. But to help you along the way, consider that your edge should ultimately be more than just one factor. It should be a singular mission – a way of thinking and doing business that informs everything you do. It should saturate your employee training, your marketing materials, your consumer finance program, and, yes, your pitch.

Perfect Your Pitch

Building the perfect pitch isn’t easy – it can be difficult to nail down just why customers should choose you when, in truth, there are so many other options available. But it should start with a thorough evaluation of value. What is the value you deliver to your customer? How do you contribute to the relationship between you and the people who choose to do business with you? Just selling a product at a fair price isn’t enough – countless sellers do that, even with all the overpriced options available.

No, your perfect pitch must rely on your business’s distinct edge – and, ideally, it should include all of the elements of your offering, from product quality to customer experience to the value and flexibility your consumer finance program brings to the table.

Work with your team members – and even with friends and family – to perfect your pitch. Try to actually write it down, and keep it to a single paragraph. Make it an elevator pitch – make it something you could deliver to anyone, anywhere, in under a minute. And then hone it based on customer feedback.

Build Trust and Keep It

Taking feedback from customers is, in fact, a key way to build trust with them. When customers feel like their voices will be heard and their feedback implemented, they are much more likely to give voice to both items of praise and concern. You want both. You want to hear both. Hearing some constructive criticism is better than hearing nothing at all. If you are hearing nothing from your customers, if your review numbers are low, if you have no market reputation to speak of, then you have a serious problem. Embrace reviews of all kinds, both positive and negative.

There will always be some customers who won’t be pleased with anything, no matter what you do. But most people just want a fair shake and to have a great shopping experience. They want to feel valued. They want to feel like they can trust you, and they want to have that trust validated by repeatedly excellent experiences.

Seek the Right Solution

One time-tested way to build both customer trust and that excellent customer experience every jewelry business should strive for is with a strong consumer finance program. And the best way to refine your existing program or bolster a new one is with FormPiper, a comprehensive consumer finance automation solution.

FormPiper helps you refine your reporting via an easy-to-use reporting dashboard that presents the critical info you need in a convenient format that won’t take you all day to parse. It empowers you to perfect your pitch by helping deliver on a fast and easy application experience, automating the filling of forms across multiple applications with a single click. But most of all, what FormPiper does is help you build a consumer finance process that truly prioritizes the customer experience, giving you an edge over the competition and helping you build greater trust with your valued customers over time.

Our final tip is a simple one – seek the right solution for your consumer finance program. Choose FormPiper, and start bringing in more revenue for your jewelry business, while making your customers and employees happier along the way.

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