Retail therapy: How to be a retailer’s dream partner

by Katie Daniel | December 16, 2016 12:26 pm

By Kate Hubley

The first thing almost all retailers do when I show them my work is to begin scribbling on a notepad. They are crunching numbers right there on the spot. Initially, I thought it was a little strange but, in actuality, it is perfectly normal. The success of their business depends on carrying brands with the right price point, esthetic, and appeal that customers will buy.

This reality must be kept in mind when you approach retailers, especially if they decide not to carry your collections. It is not necessarily about the designs, but rather the numbers—they have to cover the expenses of a retail lease, insurance, sales staff, and marketing. The overhead can be crippling. Your preparedness in your initial pitch—or lack thereof—is a window to how strong you are as a designer-partner and what benefit you will be to their business. There are a few things you should think about and prepare before meeting with 
any retailer.

Who are you designing for?
Jewellery designers will talk about their design esthetic, their process, and inspiration, but will not necessarily take into account who they are designing for. Is it for themselves? To quench their innate need for self-expression through metal art? 

Of course, this self-expression is a vital force for all jewellery artists, but we also need to think about who is buying and wearing our work. It is crucial if you want a retailer to pick up your line. For me, the clouds parted the moment this notion finally sunk in.

Your dream client in 25 or fewer words
You absolutely need to go through this exercise (get out a piece of paper and pen and do it). Once you paint an accurate portrait of who he/she is, you will be able to research retailers who cater to that jewellery customer: your jewellery customer.

Here are a few guiding questions to get you started:

• Does he/she live in the heart of the city, in the suburbs, or on a rural homestead?
• What do they value? (Family, the environment, personal fulfillment, etc.)
• Is he/she a university-graduate or self-made powerhouse?
• Are they professionals, parents, or both?
• Does he/she prefer the museum or reality TV?
• What car does he/she drive, what clothes does he/she wear, where do they vacation?
• Is their lifestyle more luxurious or laidback?

Marketing 101—your elevator pitch
You might think your work “speaks for itself,” but you actually speak for your work. Say you meet a potential client, your perfect retailer, or even a member of the press and you have exactly 12 seconds to make them fall in love with your jewellery brand. You need an “elevator pitch” or “brand story.” What sets you and your designs apart? Is it your materials, techniques, core values, journey, or purpose as an artist? Your story has to be distilled, clear, and concise with powerful, evocative, and engaging words that effortlessly turn those 12 seconds into a full-blown conversation about your work. Brainstorm the heck out of it. Bounce it off friends, colleagues, or even strangers for that matter. You’ll know when you get it right.

Try avoiding phrases like “my work expresses movement,” or “I am inspired by nature.” If either of these things are true, you need to expand on the idea because there are at least 1000 other jewellery artists saying the same thing.

It took me two years to hone my brand story to the point where I was able to position myself on the market with a strong unique selling proposition (USP) and tagline that gets me noticed and remembered.

Dialing for dollars
Your research has led you to find some amazing retailers, with a clientele that could truly fall in love with your designs. You are psyched to sell.

Now, pick up the phone and call. If you are reluctant to make a cold call, send an e-mail with two or three beautiful photos of your work or drop a postcard in the mail to introduce yourself, then follow up 
with a call.

I remember the first time I called a retailer; I paced for three hours, winding myself up into a tizzy before I finally mustered up the nerve. In the end, the call was relatively painless and I booked a meeting!

What if they say “no”?  “Simply move on. You are one step closer to a ‘yes,’” says Tracy Matthews, co-founder of Flourish & Thrive Academy—a program to help jewellery designers launch successful businesses.

Once you have booked your meeting, do your homework so you can personalize your presentation. Learn everything you can about each of the stores you visit; what designers they carry, their price points, and their target clientele.

Paperwork and pencil-pushing
Before you head to your first meeting, you have to prepare certain documents to conduct business with retailers. Though sales may not be your forte, creating a few documents will make it a breeze—your terms of sale, wholesale order form, and a line sheet for each collection will all be required.

THE PAPERWORK

What to define in your terms of sale: Minimum order requirements Terms of payment Cancellation policies Shipping Warranty Return policy Turnaround times MSRP Promotions and discounting policies Wholesale order forms should have boxes and lines for your products and totals, as well as: Your contact information Your tax numbers Date Purchase order number Retailer’s contact information and customer number Terms of payment Expected shipping date Shipping method Cancellation policy Any other information you deem relevant Line sheets (a business term for your wholesale catalogues) should, ideally, be created for each collection. It should be “standalone,” telling retailers everything they need to know about you, your collection, and how to order, including: Your logo and tagline on every page Your contact information on every page (in case the pages get separated) Stunning cover page featuring your work Your bio (add a great photo of yourself here too) Your brand story Name of your collection Your inspiration for the collection Professional photos on white background for each product Full product descriptions (SKU, materials, weight, colour and size options, wholesale price, MSRP, etc.) A lifestyle photo, if possible Wholesale order form

We’ll take it on consignment
With all the challenges retailers face in today’s economy, consignment comes up a lot. “If you want, you can leave your work on consignment and we’ll see how it does,” is a phrase often heard. To me, that sounds rather passive and non-committal, like the retailer might not put in the necessary effort to sell your work. This is different from a retailer saying, “We are a gallery and work on consignment with a number of successful designers. We have a great following on social media and get a lot of foot traffic all year round.”

You need to decide if consignment is right for you and for your business’ viability. Frank Stankus, president of Jewelers Resource Bureau, suggests, “asking your accountant if you can afford to tie up inventory on speculation before you make any consignment commitments.”

Walk the walk
Yippie! You met with a retailer and the partnership looks very promising. Make sure you discuss your next steps. Be specific about how you intend to follow up—when you say you will e-mail tomorrow, do it. Make sure you go into your retailer meetings prepared so you can fulfil the promises you make when you leave.

Your marketing materials
Whether you are creating collections to sell wholesale or direct to consumer, you need a few marketing materials. At the very least, prepare beautiful photos of your pieces you and your retailers can use on your websites and social media. Have different formats available for the various banner sizes. Create a Dropbox, Google Drive or some other sharable link so retailers can get what they need when they need it.

Of course, you want to accommodate your retailers who may ask for other collateral—which will come at a cost of time or money.  “You should only accept to do so if the dollar value of the retailer’s orders can justify the investment you have to make,” advises Matthew Perosi, jewellery marketing consultant and analyst at Sapphire Collaborative.

Your online footprint
These days, it is imperative to be active on social media. You don’t necessarily need legions of followers, but your online presence gives the world a sense of who you are as a designer. It helps tell your brand story because retailers will surely be checking you out on Facebook, Instagram, and LinkedIn.

“Get over the mindset of it being work. Make it part of the fun,” Perosi says. “Just like you enjoy creating your jewellery, you should enjoy sharing your visions online.”

Ready, set, go
I am still new to the wholesale-retail world myself and sometimes get a mild case of the jitters when I think of how much beyond-the-bench work I do. If all of this is new information, you may be feeling a little overwhelmed. Take a deep breath and prioritize. I suggest starting with awesome photos and your brand story—since these two elements will flow through all your communications—then, write out your terms of sale (your business policies), followed by your wholesale order form and line sheets.

Once you finalize these items, you will feel confident and ready to be retail’s best designer-partner. As Matthews suggests to those she helps, “This is a journey, move forward one step at a time and have fun.”

Kate Hubley is owner of Montreal design house, K8 Jewelry Concepts Bijoux. She is also a Fellow of the Gemmological Association of Great Britain (FGA) and a 2015 Saul Bell Award recipient. Hubley can be reached at kate@k8jewelry.com[1].

Source URL: https://www.jewellerybusiness.com/features/retail-therapy-how-to-be-a-retailers-dream-partner/

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