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Jewellery shops need to consider the impact of the internet even if they don't have a website. Thanks to Google, Google Maps have made traditional ways of finding physical stores such as Yellow Pages or Local Classifieds redundant. Yet many jewellers have not even checked to see if they are listed let alone registered the listing as their own. Even fewer have developed an online reputation despite Google proliferating star ratings throughout Google Maps, Pay Per Click, and SEO listings. Finally, Google's new Product Listings Ads make consumer price comparison shopping easier than ever before. As a result, jewellery consumers are now better informed about both the reputation of the store they are in and the lowest price they can obtain the item than ever before. This has resulted in record levels of "showrooming" - a process whereby the consumer inspects the product they desire instore, asking the jeweller to answer any specific questions they have, before going home and ordering on amazon or another faceless retailer. However, there are actions every independent High Street Jeweller can and must take to fight back. In any negotiation, it pays to have more or at least the same information as the other party. High Street Jewellers must make it their business to know the best available price online for all their major branded products. When I say major branded products, what are the 20% of product lines that broadly make up 80% of your sales? These are the ones you must know. Secondly, get listed on Google Maps and claim your listing. Thirdly, get an iPad for instore use. You can use these to not only show customers you are competitive vs. online retailers but also to ask them to leave a review on your Google Map entry. A recent study of Yell star rating listings for independent restaurants showed that every 1 star increase in review ratings was commensurate with a 5-9% increase in revenues!!! With consumers increasingly relying on the reviews of previous users prior to buying, independent jewellers must make every effort to collect them. Every sale must be made to work harder via the process of online advocacy whether you have a website or not. Finally, in most cases social media (Facebook and Twitter) is not as effective in driving sales as Google-based reviews. This is for a number of reasons explained in the slides.
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