How To Sell Diamond Jewelry
Selling fine diamond jewelry is an art. Each purchase is generally linked to an important life event such as an engagement or anniversary. Most people who have shopped for engagement rings have become familiar with the four C’s – Cut, Clarity, Color and Carat weight, and will walk into a jewelry store for the first time with those specifications in mind. Educating consumers on these qualities is a top reason why great ecommerce companies like Blue Nile are so successful.They provide useful resources like a diamond education section to their website, proposal stories that people can read, GIA certification specs and of course beautiful, high resolution images of their products. This is the right approach online, but what do you do in a retail store where the shopping experience is entirely different?
Diamond Jewelry as a Gift
As a diamond sales representative, it’s necessary to understand the technical features of a diamond, but don’t forget the emotional side of the purchase. Besides the beauty of the stone and how it sparkles, it represents romance and love. When you speak with your customer, try to connect with them on this level. Diamond engagement rings are often a first step in a long journey towards marriage. Helping the customer fit the purchase into his (or her) budget will often help you close a sale. An interest-free installment plan with Splitit USA Inc. is a great way to finance a purchase of this nature, and wedding service providers are definitely top companies benefiting from installment payments. But before you focus so much on the money, try to connect with the customer on an emotional level.
Ask him (or her) how he intends to propose, and perhaps tell your own story. Find out what their soon-to-be spouse enjoys and the sorts of gifts that have been exchanged in the past. The more questions you ask, and the more you listen during your needs analysis, the better equipped you’ll be to help the customer find the perfect diamond engagement ring or anniversary gift. And, by connecting on an emotional level, you’ll stir up those feelings that will help reassure the buyer that he is making the right choice in such an important life decision.
Diamond Jewelry as Self Indulgence
Some buyers aren’t making a purchase as a gift and are just interested in a little self-indulgence. It’s great to be able to spoil oneself and when you’ve learned that a customer is buying the jewelry for herself or himself, you’ll want to cater to this need without overdoing it. Try to observe what they’re wearing already, but keep in mind that not everyone chooses to wear their favorite jewelry when shopping for high ticket items – they might even downplay their look. Ask the right questions, and you’ll begin to have an idea of what a customer wants. But that’s not enough. Shopping in this way can be a very tactile experience, so give the customer items to try on, and assist them as necessary. Let her put on a diamond necklace and observe her expression while she looks at herself in a mirror. Let him put on that diamond encrusted timepiece and watch his body language and micro expressions when he looks at it for the first time. You may even consider watching some videos or taking a class on how to read body language to help you study your clients. These indicators will help you understand what a customer really wants, and you can begin curating items for them based on what you see and hear.
Closing the Deal – Make it Fit Their Budget
At this point, your customer should already be emotionally vested in the item for sale, and ready to make the purchase. They should have the perfect item in-hand, and the only barrier to purchase would be budget. At this stage, many jewelers will haggle with the customer, or steer them to a less expensive item if the objection they get is based on ticket price. Both of these solutions make the sale less profitable, and haggling may even detract from the perceived value of the item if you drop the price too much. That’s where Splitit comes in. A customer can make a fine jewelry purchase using his or her existing Visa or Mastercard, and can do so without paying any interest charges. Being able to spread the cost of the jewelry out over several months without worrying about paying interest is a major stress reliever. This is especially helpful with engagement rings, as they are just one of many expenses associated with planning a wedding. Your customer will now have the luxury of getting the exact ring or other jewelry they’ve fallen in love with, and can make the purchase stress-free. As an added bonus, they’ll even earn points and other rewards depending on the card they choose to use.
The ability to process installment payments, interest-free is the future of fine jewelry sales. You’ll be able to use your existing merchant account and integrate it with Splitit to enable this functionality. There are no credit checks or other stressful requirements that you’ll need to subject your customers to. Help people find the perfect gift for their significant others or for themselves, and then show them how they can fit it into their budget right away. Your customer will be happy, and you’ll be happy about your bottom line.