20 Sales in 20 Days Challenge

Want a boost to your holiday sales?  I invite you take the Flourish & Thrive Academy's 20 Sales in 20 Days Challenge.  I did this in October and had great results.  You can rearrange the daily challenges to fit in with your schedule.  I plan to start again tomorrow.  For best results partner up with a friend or two to help you stay accountable.  If you're not ready to hustle, save this list for January - what a great way to start the New Year!

20 Sales in 20 Days Challenge Review

 

Challenge # 1:: Create a special of the day and send it out to your client list/newsletter list. If you feel comfortable with discounts, you can offer a special price for one day only. Making the offer time sensitive or limited quantity gives your consumers a sense of urgency to buy now. Post your special of the day everywhere. Facebook, Instagram, on your Blog, you name it. Ask your friends and family to share you special of the day, as well.

 

Challenge # 2:: Ask for a referral from one or more of your clients. Offer an incentive and give them a piece of jewelry for each sale or for every 5 sales they send your way.

 

Challenge # 3:: Wear your jewelry today and sell something off of your neck, hand or wrist (earrings might be a little gross). Don’t be shy and close the sale.

 

Challenge # 4:: Create a special offer for Facebook clients to purchase on your website with a “special” code.

 

Challenge # 5:: Hand out a business card every time someone compliments you on your jewelry today. Start a conversation about your jewelry. Get their email addresses and send a follow up email of what they loved from you. Send them a link inviting them to purchase.

 

Challenge # 6:: Hold a contest for the day or the week. Use this as a list builder.

 

Challenge # 7:: Offer a gift with purchase today only. 

 

Challenge # 8:: Contact 5 clients directly who you have worked with in the past and who haven’t ordered in sometime. Suggest some new items to them.
 

Challenge # 9:: Create a FRANK list of all of your friends, relatives, associates, neighbors & kids or kennel (yep, people you know because of our kids or your animals). Or you can make the K a C & C stands for church, charities or clubs. Ask them to spread the word to their friends and family about your beautiful work. Offer something special you have going on.

 

Challenge # 10:: Suggest an item to upsell with anything you sell today or this week. Example, a client is placing an order, make sure you add on a best selling necklace or pair of earrings (or add on 1 more of whatever they are ordering). Just think... by adding 1 piece of jewelry to every order you will be able to see a nice increase by the end of the month. Robin likes to call this adding the avocado because whenever you are at a restaurant and they ask you if you would like to add the avocado, they are upselling you. 

 

Challenge # 11:: Host/Plan an in person trunk show (sample sale) at your friend’s home so you can get rid of any extra inventory or samples.

 

Challenge # 12:: Post your pieces on Instagram or Pinterest with hashtags and links to purchase. Ask all of your friends to share it.

 

Challenge # 13:: Host a friends & family sale on your website or Etsy shop. Make the offer time sensitive and one day only. 

 

Challenge # 14:: Make phone calls to past clients today until you get a sale (yep don’t stop until you get that sale). Suggest new merchandise, gift ideas, etc. If you don’t happen to have phone numbers, you can email, but note if you use the phone and start a casual convo, you are more likely to land the sale.

 

Challenge # 15:: Create a special “set” for a promotional price and offer that today.Think a necklace with a pair of earrings or necklace and bracelet set or ring and earrings... you get the idea. Limit the number available, make it time sensitive and exclusive. 

 

Challenge # 16:: Loan out a piece of jewelry to your friends or sisters (something that they really love). Let them wear it and ask them to refer clients. Give them a stack of cards with your website address on it. Give each a unique discount code AND if they sell 5 pieces, they get to keep the piece.

 

Challenge # 17:: Have a one-day sale on your website or Etsy shop to get rid of old inventory...and generate cash flow.

 

Challenge # 18:: Host a Facebook auction for limited edition items today...make sure your fans know about it. Include links to purchase on your website. 

 

Challenge # 19:: Attend a networking event or some sort of social event. Go decked out wearing your jewelry and plan to talk about what you do. Bring special cards with special offers that they can purchase.

 

Challenge # 20:: Reach out to a Blogger and offer her a piece of jewelry in exchange for a review. You can give a special discount code for her readers only.

 

This document is owned and distributed by Flourish & Thrive Academy. It may not be sold or otherwise distributed without our expressed written consent. | © 2013 | Flourish & Thrive Academy

Increase Your Jewelry Sales - Interview with Robin Kramer

Would you like to increase your jewelry sales today? Tired of spinning your wheels in your jewelry business and not seeing the sales results you desire? Keeping busy online and making sales don't always go hand-in-hand, learn the tricks to be more productive! I'm super excited today to share my interview with sales expert Robin Kramer from the Flourish & Thrive Academy. Read closely and take notes - Robin's invaluble advice will help you increase your sales and get your jewelry business on track.

H: What is the difference between brand building activities and income generating activities?

In the Flourish & Thrive Academy Facebook group you once posted:

"Set your intentions for the day and do 5 revenue generating activities today. Pick up the phone and call existing customers or new customers. If you sell direct to consumer/retail, contact existing customers and give them incentive to buy from you or refer a friend or friends. Have a positive attitude and be friendly and see what happens!"

I have this as a daily reminder and my iPod sends me this message every morning!

R: Heather, I LOVE that you have this in your your iPod as a daily reminder! The difference between brand building and income generating activities is such a great question!

Brand building activities are actions that gets your company/business name out to your audience.

It would be things like working on your social media - facebook, Pinterest, Twitter, Instagram - or updating images on your website so you customer is seeing new and fresh images frequently (this gives them even more of a reason to come back to your site). It's also blogging or creating a new collections postcard. It is even contacting press and sending samples out to an editor or stylist. These things are important, but really can be time sucks and in order to stay in business you need actual sales.

Revenue generating activities are actions specifically geared towards bringing in sales.

In my opinion, business owners should do revenue generating activities daily. I know there are many hats that a person wears when running a business so this isn't always possible, however, sales should be a priority.

SIDE NOTE: By having set sales goals, one can see what is needed sales wise for the business. By taking the goals for the year and then breaking it down by quarter, month, week and day, one will learn what they need to sell on a daily basis in order to meet goals. This information will help when doing revenue generating activities.

So what are revenue generating activities?

*My favorite one is picking up the phone and calling existing customers. This doesn't have to be a "salesie" call, but rather a connection call. Find out how they are, how is your jewelry selling for them, if they have any events coming up that you can help support. Let them know what is happening with you and your line. What are your best selling styles right now, what you are doing for upcoming holidays and happenings like Mother's Day, Graduation, Wedding Season, Father's Day, etc. Ask if they are ready for these holidays and happenings.

Sales is about relationships and a good sales person does what they can to help their customer.

*Calling potential customers. Maybe it's a store you saw listed in Lucky Magazine or Daily Candy. It could be someone you met at a party who was interested in your jewelry and you exchanged business cards. No matter how you found them, call them! Start the conversation and learn more about them and their needs. Do research before you call them - look up their website. This will help when talking with them.

*Face to face interaction is the best. It allows you to share your story and really find out your customer or potential customers needs. Trade shows, Craft Shows, Trunk shows, sample sales or house party sale are all good revenue generating activities. The type of event you have will depend on your business.

*Partner with another person on doing a show or an online event.

*Create an email promotion with a call to action. For example, place your order of $150 today and receive free shipping. Or create urgency like limited edition pieces, only 2 left.

*Increase your sales by always adding 1 or 2 more pieces to every order.

H. Do you have advice for getting over the fear or shyness of making sales calls to stores or potential clients?

R: I know if calling is not your favorite thing or you are shy it can be challenging. My advice is to script out what you want to say so you are never at a loss for words.

Remember your focus is your customer/client and their needs.

Smile when you talk, people can actually hear your smile. Be prepared with letting them know how you want to help them and that your goal is to make their job easier. For example Mother's Day is May 12, have an order prepared for them based on what sells well for them or prepare an order based on your best sellers for this special day. If you are working direct to consumer, let them know what special packaging you have for Mother's Day or that you can include a handwritten note.

Practice is the best way to get over the fear of making sales calls. I heard the term "lean in" recently and I love it. When a person is interested in hearing what you have to say, they "lean in". People want to be heard and many times we don't take the time to listen. The most important thing when speaking with your customer is to be sincere friendly and listen. Also, if someone is not interested in working with you, don't take it personally thank them for their time and feedback and move on. No usually means not right now. I have a jewelry company that I work with and they had been trying to get into this one store for 10 years. They knew it was the right fit so they kept in contact with the buyer and then it happened... they received their first order. That was 3 years ago and that store is one of their top accounts today.

H: What is your secret weapon for a super effective sales week?

R: The phone is my secret (or not so secret) weapon. Calling and connecting with customers is joyful for me. I genuinely care about the buyers and clients I work with. I want their businesses to succeed and they know it.

H: How important is packaging and display in selling to stores and boutiques?

R: Packaging is important because you want to make sure your product is branded with your logo. The type of packaging will of course vary depending on the type of jewelry or product you make. I have to admit I more then sometimes buy things because I am in love with the packaging.

Good display and merchandising of your product is essential for a store. You want to make sure you provide your customer with ways to display your product. Giving merchandising recommendations is something I like to do. Again, it is about making things easier for your customer. In many cases, I have taken pictures of my suggestions and shared them with my customers. A picture can not only provide your customer with a great visual, but it will also show them why they need to purchase the pieces and quantity you recommended.

H: Do you have any advice on ways to stand out when starting out in the wholesale market?

R: Know you "WHY". Know "WHY" you started your business and know YOUR story. What's going to set you apart and make you stand out is who you are, why you are doing what you are doing and your story. It's hard to design or create a product that hasn't been done before, don't get me wrong, great product is important, but what will define you and your line is your story. People want to connect on some level. I believe this is why video is playing such an important role in today's business. I also believe that connection is why calling a customer or meeting them face to face produces the best results.

H: And finally, Flourish & Thrive is getting ready to launch Volume 2. How would a solo-entrepreneur benefit from the course?

R: Tracy and I are super excited about our Vol 2 course, Mulitply Your Profits! The course is for jewelry designers who want a roadmap for structuring their business for maximum profitability and freedom. Tracy and I know first hand that if you truly want a successful business you need to run it like a business and not a hobby. Having systems and best practices in place will allow a business owner even a solo-entrepreneur to do the things that they love (one of which is most likely designing). The course will empower the jewelry designer to step into the role of CEO of her/his business (even if they are the only person in your business). Tracy and I will be sharing the systems we’ve used to help build & manage businesses of all sizes. We can't wait!

Robin Kramer is a brand marketing maven and sales expert who has an impressive history with leaders in the retail industry that have built their brands on innovative merchandising and strong service cultures. Among these brands are Williams-Sonoma, Inc. and Old Navy division of Gap, Inc.

For the past 12 plus years, Robin has worked with primarily small, upscale wholesale jewelry brands and designers to bring their products to market, position these niche brands for maximum exposure to their target customers and build relationships with national and international retailers. She has a keen eye for recognizing products, designs and brands that represent a unique and fresh approach in a crowded and competitive space.

In 2010 Robin started her consulting business, Red Boot Consulting and in 2012 she partnered with jewelry designer Tracy Matthews to launch Flourish & ThriveAcademy, an online academy for teaching jewelry designers everything they need to know about running a business.

She is based in Sausalito, California.

Pricing Secrets with Tracy Matthews

How to price your jewelry so you can pay your rent every month!

Are you pricing your jewelry to incorporate your overhead? Do you even think about it, or do you just throw a number out there and hope for the best? Staying positive and having faith are great on an energetic level, however, if you are trying to run a business, you’ll probably want to price your product with a solid understanding of your expenses and your goals.

My business partner, Robin Kramer, and I are asked about pricing all the time. Pricing your jewelry is a very touchy subject for many of reasons. If you price it too low, you cheapen your brand and can become stuck in the low pricing syndrome. If you price your work too high, you risk pricing yourself out of the market until you have an established brand. How do you actually find the sweet spot with your pricing so that you can cover your expenses AND make a profit every month.

You need to understand a few things before you get started.

1. What are the COGs associated with each piece you design? COGs are things like materials and labor.
2. What are your total monthly expenses for your other costs in your business? Or what is your overhead?

Once you understand your costs, you need to take a look at your volume.

1. Do you sell roughly the same amount of pieces every month?
2. Or does your volume vary significantly month over month?

I ask these questions because these are the markers that will determine how to incorporate your overhead into your jewelry pricing.

 (Pin me!)

Let’s take option #1. If you sell roughly the same amount of pieces every month, you can use this method.

1. Calculate your total overhead.
2. Divide that number by the number of pieces that you sell every month.
3. You’ll end with a per piece overhead price.

For example, if you had $1000 in overhead and you estimated selling 100 pieces per month, you would add $10 to each piece as you were pricing.

Now let’s look at option # 2. If you have a business where the pricing range per piece of jewelry varies widely or you sell a different number of pieces every month the formula in the first option won’t work. In this case, you need to work backwards.

1. Figure out your monthly expenses first.
2. Take a look at the margin in your pricing so you can understand exactly how much profit you make.
3. Then make sure that you sell that volume in order to cover your expenses.

For instance, I use this method in my current business model. I understand what I need to bring on from a profit stand-point, instead of per item. So let’s say I have an overhead of $1000 a month and a margin of 50% on my work. My average piece of jewelry costs $1000 and the cost to make it is $500. I would need to sell 2 pieces at $1000 to cover my monthly overhead of $1000.

Pricing your jewelry is a bit of a dance. You may need to adjust your method from time to time. Unfortunately, it’s not an exact science. 

The key to pricing your jewelry for profit is to start with the end in mind. If you start every month with clearly defined profit goals, you are able to work backwards to understand what you need to sell in order to make those goals. The big picture is a lot more detailed than a simple pricing formula regardless of your business model. It’s important to look at your profit goals first, make sure you account for paying yourself and work on generating cash flow to cover your expenses along the way.

Tracy Matthews is a bespoke luxury jewelry designer and founder of Flourish & Thrive Academy, an active community of dynamic jewelry designers who share design tips, sales successes and marketing secrets.

F&TA began as a solution to a problem many new jewelry designers face: how to treat their business like a business instead of a hobby. It has evolved into an answer to the plea, “I wish there was somewhere I can learn everything there is to know about starting a jewelry business so I can focus on being creative and work on the big picture.” 

Find Flourish & Thrive Academy on Twitter, Facebook and Pinterest. 

Tracy and Robin are offering a free Q&A call for any designers who have business questions. 

Do you have any burning jewelry design questions?
Sign up for their live Q&A call……it’s FREE

The call is Wednesday at 12 noon EDT. They'll be on the phone to answer questions.

Click here to sign up for the free coaching call and don't miss this great opportunity!  

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