What is a Sale?
A sale involves creativity, feeling, and imagination - as well as the service of design and exchange of money. Think about what you're really selling. Is it jewelry?
You're selling beauty and sex appeal - and the benefits these bring.
Profiting from custom jewelry is all about selling a BENEFIT.
Benefits
That necklace you took hours to craft and even longer to design, will make the wearer feel better. It may make them feel richer or boost their confidence. Because of this they might get a new job, make more money, sell more, attract a partner etc. Or the necklace may just make them more comfortable in a way a nice meal would. Whatever, the benefits have no relation to and far outweigh material cost.
The more style your design, brought about by good taste, creativity, and fashion sense: the greater the benefits, and so the higher the price.
Customers feel value for money in originality, rarity, and quality; not in price.
Many sellers think that if their prices were lower, customers would buy more. Business is a game of margin, not volume. Price reductions can create more problems than they solve:Decrease net profits.
Lead to the purchase of lower quality or unreliable suppliers.
Require even more sales to make up the difference in revenue.
Need extra stock and time to make more jewelry.
Increase customer demands to drop the price even lower.
Increase complaints - customers looking for the cheapest are usually trouble.
Sell Benefits, not Products
Look for the BENEFITS and hidden values to sell to your customers and prospects. Help them see how great their life will be with your jewelry, and you've got a customer. Set your prices high and hold fast. Don't be afraid to shout your price, believe in it. Remember how long it took you to create the piece.
You had to source the beads, buy them, design the jewelry, make it up - and all that's before the time and expense of selling. Most customers don't buy on price alone. If you're unlucky enough to attract this type of buyer - then they're likely to complain, pay slow, and waste your time. If you market correctly, customers will be anxious to do business with you.
Don't Copy Losers
There will always be someone selling cheaper. Someone willing to go out of business before you! Most ventures fail because they sell their products/service too low.
Customers Will Pay!
If you truly sell your jewelry, they'll purchase whatever the price. If a prospect doesn't buy because they claim it's too expensive, they probably wouldn't have purchased anyway. Selling has nothing to do with the price of the product.
By the time your customers finds out about the price, they should be determined to purchase no matter what the cost. Say how wonderful the piece is. Talk of aesthetic value: beauty, design, style, harmony, balance. Leave price until last.
Gain from the Competition
In times of recession it's easy to gain new customers from your competitor's mistakes. They will flock to you if you give them fast delivery, high quality, guarantees and after-sales service - whatever the price. Notice how smart businesses' raise their price in a recession.
This article is from the new book on selling bead jewelry How to Make a Killing Selling Bead Jewelry at http://www.easytofollowbooks.com/book100salespage.htm
By Nigel Hay Mckay
MrBead.com
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