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Lower Risk,
Increase Sales
The lower the risk, the more likely people are to act!! For example, many people are more likely to buy something if they know they can return it.
If you are having trouble closing a sale.....TRY THINKING OF WAYS TO ELIMINATE RISK.
One way to lower risk is with Trade-ins. People feel it's O.K. to buy something NEW if they trade it for something OLD. This makes them FEEL responsible. The car industry figured this out. Car companies offer great incentives for trade-ins, making people more likely t o buy a new car. If you can help that lady trade in her old necklace she might be more likely to buy your new one!!!
By promoting trade-
-in's not only will get more gold and more estate pieces, but helpfully you will close more sales because you lowered the risk AND made the customer feel responsible. Try this. Have a promotion where a customer receives $50 off a new watch when they trade-in their old watch. This lowers the risk of the buying the new watch outright.
The goal in sales is to get the customer to FEEL GOOD about what they are buying, especially in our industry! We sell emotion. When people trade in an old piece of jewelry they feel good. They feel responsible. They feel GREEN!
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Warranties Lower
Customer's Risk
 Best Buy sells you a service plan with your electronics. Why? Because you FEEL good about your purchase AND they make money from it! You might say "I cover all those things anyway, so I don't need to provide a warranty." It is not about what you provide. It is about the feeling the customer has. Warranties lower risk in the customers mind and makes them feel more comfortable with a purchase.
Here are some helpful tips from my
jeweler friend Howard who sells service plans....
- Sell "service plans" not warranties.
- Charge an up front fee based on the purchase price of the item. The customer then knows that anytime they need a service they are covered.
- Before we offered the service plans, we were doing much of this work for free. Now we can make a profit from it!
- The customer has to bring in their jewelry for inspection every 6 months to keep the plan current. When they come in you have an opportunity to make another sale to that customer.
If you are not comfortable selling warranties,
make a free warranty brochure and use it to
help close more sales.
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Try this!
A great way to lower risk is with a guarantee. Make "Compliment Guarantee" cards. Give them to each customer guaranteeing they will get compliments if they purchase this piece of jewelry!! This might help you close more sales, or at least it will be a fun
conversation starter.
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