In every business, there are people who purchase more than others. These are the people who you can always count on to buy from you time and time again, whether that is a new release or new addition to their collection.
My name is Kathleen Cutler, and I work directly with jewelers to help identify how they can increase their high-end client list, efficiently organize it, and then scale it.
Today, I’m going to teach you how to identify – what I like to call – your extremely important collectors. In every business, there are people who purchase more than others. These are the people who you can always count on to buy from you time and time again, whether that is a new release or new addition to their collection. They are the clients who will continue to grow your business and also send new people your way.
Let’s do a quick exercise to identify your extremely important collectors.
FIGURE OUT YOUR AVERAGE ORDER VALUE FOR YOUR BUSINESS.
If you’re using Shopify, you can find this information in your analytics. If you’re using Squarespace, Wix or any other platform that includes e-commerce, you can find this information in your Google Analytics. This number is the average amount your clients are spending with you. Once you have this number, write it down.
NEXT, FIGURE OUT HOW MANY CLIENTS ARE SPENDING ABOVE YOUR AVERAGE ORDER VALUE.
If you’re using Shopify, go to your “Customers” tab on the left-hand side of your screen and sort by “Amount Spent” from the highest amount spent to the lowest amount spent. If you’re using another platform, there should be a similar way to view this information in your Google Analytics.
Potentially, you will have enough clients to download this information into an Excel spreadsheet, but it is completely ok if you are just getting started and/or do not have too many clients in your E-Commerce shop yet. Once you have this information, determine how many clients are spending above your average order value.
These people are your extremely important collectors.
Now ask yourself, do I have a deep relationship with all these clients?
You might find that you know their specific taste or what they like to buy. Maybe you’ve met with them in-person or have known them, their family and friends for many years. Regardless, there is typically some connection that allows for a deeper relationship. Which brings me to the next step.
START TO IDENTIFY SOME OF THOSE COMMONALITIES OF THESE EXTREMELY IMPORTANT COLLECTORS.
Ask yourself some of the following questions.
Are they big spenders who always buy gold?
Are they collecting the more expensive fine jewelry pieces?
Do they consistently buy from you again and again?
Once you have identified these common characteristics, you can figure out how to get more clients like them. From there, you can start to think about how you can treat them differently. They are extremely important to you and you are
extremely important to them. Which is why they will love to hear from you on a regular cadence.
Whether you send an email about a special design you think they’ll love, or a simple note congratulating them on their anniversary, they will more than appreciate the gesture. After all, they deserve to be in a different category because they are a different category – they are your extremely important collectors.
To recap, implement your relationship marketing strategy by first identifying your average order value. Next, figure out who are your extremely important collectors and what are their similarities. From there, determine the kind of strategies can you do to enhance your relationship with them. Note that these strategies may be slightly different than the strategies you are implementing across your entire business.
Take action today. These extremely important collectors have the potential to increase your sales and change the trajectory of your business this year and in many years to come!
P.S. Here are TWO ways I can help you grow your jewelry business:
1. Download the FREE eBook 3 Key Emails To Turn Window Shoppers Into Collectors
You can get the exact scripts we use by visiting www.kathleencutler.com/3-key-emails
2. Work with me and my team privately
If you’d like to work directly with me and my team to take your customers from window shoppers to collectors, visit www.kathleencutler.com and click on the LIVE CHAT window. Tell me a little about your business and what you’d like to work on together, and I’ll get you all the details!
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