This Year I’m Going To . . .
We all start out a new year with some great intentions. We’ll eat a little less, exercise a little more, set aside time for ourselves, and focus on completing a host of other well intentioned no-way-am-I-ever-going-to-do-this personal goals. But how many of you actually take the time to prepare a few business resolutions? May I give you my top three?
Resolution #1
Focus on your core customer. Under no circumstances are you to say “I want to sell jewelry to anyone with a heartbeat.” Nor should you be asking who that best customer is if you’ve been in business for over three years. Stand in your showroom and see who is coming in each day. Review your best customers and their purchasing history. Take out a piece of paper and list a few of their specifics. How old is he? Or is he a she? What income level? What zip code or neighborhood do they live in? What is their average sale? Products they’re most interested in? Focus on the needs of that primo customer and you will naturally attract more of them. Purchase the inventory they like; provide the services they come to expect; know where they are most likely to hear, see or read your message. Don’t fall prey to trendy ideas. Most of all, realize you simply can’t be all things to all people. I guess you can technically be all things to all people. You simply won’t be very good at any of it.
Resolution #2
As much as I believe in change and moving the cheese, certain change is not always good, especially when it comes to your advertising and creative. Just because you may be tired of your message, does not mean — and I repeat — does not mean that the consumer is tired of it. Worse yet, if you change your message or the look of your creative too often, consumers won’t recognize you right away. It’s like changing your hair color and style dramatically over and over again. Don’t expect acquaintances to know who you are when you walk into the room. The big brands don’t do this, so take a page from their play book. Bottom line: If you’re seeing new customers, your average ticket is where you want it to be or you’re happy overall with the way things are going, don’t rock the boat. Consider initiatives that will move you up a cabin or two.
Resolution #3
Lead, don’t follow. A strong entrepreneur does not need the approval of others on a continual basis. They’re also able to run their own business without continual consultation. I look around and I see way too many sheep. A great business needs a shepherd.
I wish you a healthy and happy 2010. In reality, this resolution list could go on and on. And, every year I set a few of my own. But then again, I’ve lost and gained the same ten pounds in 2009 alone. Have a business resolution of your own to share? E-mail suits@fruchtman.com.
Ellen Fruchtman is Founder and President of Fruchtman Marketing, a full-service agency headquartered in Toledo, Ohio, representing independent jewelers, jewelry manufacturers and trade organizations throughout the U.S. You can reach the agency by contacting Ellen Fruchtman at 1-800-481-3520, visit her blog or sign up for a free weekly newsletter at fruchtman.com . Fruchtman Marketing is a member of the American Gem Society.
By Ellen Fruchtman on January 5, 2010 :: Filed under Act,Marketing Planet
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