Stand out from the crowd; beat your competitors to it with these simple tips.
Unless you are monopolizing your target market, one factor that you need to watch out for is your competitors. Aside from great marketing skills and a steady eye on your goal, being able to deal with businesses with the same industry is crucial. This is especially true if there are only two of the same business targeting the same market. So how can you stand out and be the better option to customers? Here are a few tips you can try to be the favorite jewelry store.
1. Know your supplier
This is the number one rule. Allow me to give me an example, if you own a silver ring business, you should research about your wholesale sterling silver rings supplier. Read reviews and check their products. They should be selling legit 92.5 sterling silver. Otherwise, you might be conning customers into buying “fake” silver without you knowing it. Remember that honesty is utterly important in a business. A good way to know if they sell real silver is to ask them for documentation that can attest that their jewelry pieces are genuine.
2. Be fashion-forward
Vintage jewelry is a timeless style, but do take note that in your target market, not all do not appreciate this style. With that said, you should be in with the current fashion trends. Having a selection of sterling silver that is trendy (and seasonal) are very appealing to women, and men who love to give their partners gifts, for that matter. Don’t forget to offer each style with different sizes and colors for a wider selection.
3. Regularly create promotions
Whether it’s traditional or online, promotions and contest remain to be effective ways to market your business and products. For traditional, the simple placing of your business card with a note stating that the customer will get a discount for the second purchase can contribute to higher revenue. This can also lead to word-of-mouth advertising. Be creative to be remembered. As for online, you can gift your followers with a discount voucher for a share, a like, or a tag. Again, being creative is key to successful promotions.
4. Increase online presence
In this digital age, having social media accounts for your business is a must. Potential customers will find you faster online and if they are interested, they would be willing to know more about you and your products. Having a presence online also decreases the chance of you being seen as a scam business. Share photos of your products, blurred out waybill receipts, as well as reviews from actual customers. Do not forget to regularly post updates on your pages too.
5. Be personal and thankful
This applies both to offline and online. In the store, suggest other pieces and styles that look good on your customers. Show them that you truly appreciate them purchasing your product. Being friendly with your target market will make you easy to remember. In your social media accounts, on the other hand, always reply to any inquiries and comments. Thank them for good reviews. Handle bad PR with grace and don’t ever respond negatively. Always keep your cool in this kind of situations.