Episode 497: How to Navigate Your Jewelry Business During Tough Times – Holiday Edition
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If I could solve one business problem for you – what would it be?
That’s what Chelsea and I offered our latest 2-day live mastermind attendees who paid $1997 to attend. And you’re in luck – because we recorded a full-hour AMA where Chelsea and I solved their biggest business problems.
Get the inside scoop on fellow Jewelry businesses and hear our solutions to their biggest business problems especially, how to navigate their jewelry businesses during tough times.
In this jam-packed hour you’ll hear questions and answers for:
- How to make buying from you so easy that your customers can’t help themselves
- Give your customers an experience they will remember and come back for again and again
- Turn your most loyal customers into brand ambassadors and affiliates
- What to automate and outsource – and what to do yourself
- And much, much more.
We (Chelsea and I) start the episode by answering an important question: how do I sell ethically to customers who may be struggling financially in this Holiday Season? Chelsea shares how her business was up 400% during the pandemic – and I share how the idea that our customers may not have money usually comes from our (the seller’s) frame of reference. We discuss what we provide our customers that many businesses do not – and that’s why they are willing to pay us even if finances may be a bit tight for them. We also share ways to give back to customers who are struggling.
We talk about the importance of forming relationships with our customers close enough that it almost feels like a friendship (and sometimes it becomes one!). We discuss tactics we do in our businesses (including old-school snail mail) that make our customers feel cared about and unique – and how these important touches often result in repeat sales!
I share a story about what a clothing shop did that led me to spend $1200 unplanned. Their secret? They made it easy for me to buy. I share various strategies and tactics you can do to make it a no-brainer for your customers to buy from you – and the mindset you need to pull this off successfully.
We get a hot question about email marketing: what if I bother my customers and they unsubscribe? We talk about email marketing from the perspective of your customers: why they subscribe, what’s going through their minds when they get your emails, and what causes them to unsubscribe (and sometimes even re-subscribe!). You’ll understand email marketing a lot better once you listen to this section from your customers’ points of view!
It’s important to connect with your customers – repeatedly – after their first purchase. We discuss different technologies and apps you can use to keep track of all your customers’ life events – and how your leadership affects whether and how well this gets done.
One of our students shares an observation that many of her customers have very similar tastes and tend to buy the same sets of items. She asks how she can recommend to others with similar tastes. We answer that there is technology to do this automatically – and give her several solutions for automatic recommendations.
The highest quality source of new customers is usually referrals from old customers. Chelsea is our resident expert on affiliates, ambassadors, and loyalty programs, and she shares who you should accept as affiliates, how to create a win-win for your business and your affiliates, and recommends apps that help you manage loyalty programs automatically. She also shares the #1 thing you should do when starting an affiliate program. I chime in and add which types of customers don’t like to participate in affiliate programs – and what you can do instead to make them feel valued. We also discuss whether or not to discount as part of a loyalty program and alternatives.
Many business owners try to do everything in their business. Not only does this not scale – it leads to burnout. Chelsea and I discuss what parts of your business can only be done by you – and which parts you should automate or outsource. Chelsea also shares how to migrate easily between shopping platforms like Shopify or Etsy, and how to do the same for various email platforms.
In the JMC we are teaching how to market using AI. One of our students who is in the JMC asks if she can use AI to attract her ideal clients. We discuss which AI models are best and when to use them. We also discuss where different types of ideal customers hang out – and how to align your marketing efforts to attract them and keep them from bouncing once you have them.
One of our students asks about the legality of “poaching” direct customers from platforms like Amazon. We talk about platforms' Terms & Conditions and doing due diligence to make sure you don’t get banned or run into other legal troubles. We are not lawyers – so this section is informational and educational only and not legal advice.
Solutions Given:
- [00:00] Recapping our latest live mastermind event
- [2:09] The JMC: learn Holiday Promotion Strategies and get accountability
- [3:08] The 5-Step Holiday Sales Playbook: get the same playbook I use to train my top-tier brands
- [04:19, 29:36] Marketing in hard times: how to sell ethically when your customers may be struggling financially
- [08:08, 28:16, 48:39] More than just a customer: what to do to make your customers feel special
- [10:05, 23:15] Serving your customers: sell more by making it easy
- [13:00] Email marketing: what happens if my customers unsubscribe?
- [15:50] CRM: how do I keep track of all my customers’ life events (like anniversaries)?
- [20:41, 27:33] Automating personalized recommendations: show your customers just what they want to see without spending all your time doing it
- [31:05, 54:40] Affiliates, ambassadors, and loyalty programs: how to set up and manage them
- [40:23, 47:38] Automating, Outsourcing, and Migrating: which parts of your business you should handle, which parts you should use technology for, and what you should outsource. Also, how to switch from one platform to another with minimal headaches.
- [42:30] AI marketing: can I use AI to attract my ideal customers?
- [50:57] Legal: Can I “poach” customers from other platforms?
- [58:55] Holiday Content Creation Strategy: 30-day marketing & revenue challenges to make this holiday season your highest grossing ever!
- [59:37] What’s working right now to give you great results this Holiday Season
xo, Tracy
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Join me for a free masterclass where I give you the 5-step holiday sales playbook I’ve used to make millions of dollars in Jewelry sales and train top-tier brands to grow their holiday sales year over year.
I know there are so many tasks and family distractions constantly demanding your attention from all sides. My playbook will help you clarify which tasks are must-dos to meet your Holiday sales targets and which tasks you should leave aside.
The method in this playbook is so effective that it works outside the Holiday Season! Lindsey 2X her sales in the summer, and Heather has tripled last year’s by Q3!
Save your seat for free – for a limited time.
Links:
5-Step Holiday Sales Playbook Masterclass
The Jewelry Marketing Collective: 30-Day Holiday Marketing Strategy Challenge
Buy My Book: The Desired Brand Effect