Jewelers Suite JHJ Magazine Retail News

The Jeweler’s Paradigm Shift: Virtual Selling

written by Bill Warren

Technology is amazing. The digital revolution we’ve experienced in the last two decades is analogous to the Industrial Revolution that occurred over 200 years ago. It changed everything. Love it or sometimes hate it, technology can truly make a difference to whatever challenge you may be facing.

During Y2K, technology was the source of a lot of fear. Industries across the board were tied to it, but as it evolved, no one considered how the leading digits of the year – or lack thereof – would affect things. Labeled a “digital pandemic,” there was fear that all hell would break loose when computers could not discern between 1900 and 2000 when ’99 rolled over to ’00. People stockpiled generators, built bunkers, stored food, hoarded batteries. There was concern that everything driven by computers would fail to operate starting at 12:00:01 a.m. on Jan. 1, 2000. Traffic lights would fail; planes might fall out of the sky; the world might end.

Two decades later, there have been many of the same fears and reactions that revolve around the coronavirus pandemic. People hoarding food and toilet paper, store shelves empty, and concern about the “end of days.” However, now technology is playing a different role. Rather than being the source of fear, it is offering a way for people to stay connected during the stay-at-home mandates. Video chatting makes face-to-face contact between family members possible. Platforms like Zoom and Skype allow for essential businesses to continue to conduct productive meetings.

And let there be Amazon and online shopping. Indeed, virtual selling is also the jeweler’s new paradigm. Why do I say that? I’m glad you asked. What I’ve discovered, and what I want you to discover, is that virtual selling provides another stream of income for your operation. Notice the important word “another.” Much like we covered in the last chapter regarding multiple channels of marketing, with the introduction of virtual selling, you are adding another “storefront,” not replacing your brick and-mortar one.  

I’m the creator of the Ultimate Jeweler’s Mastermind Group, a group comprised of some of the best jewelers in our industry. In this virtual group (even virtual prior to the pandemic), we have been chatting about virtual selling for quite some time. As a result, during the pandemic shutdown, our mastermind group members were actually bringing in substantial business while other jewelers across the country were hanging up the “closed” sign, burying their heads in the sand, and hoping to ride it out. Unfortunately, the bills kept rolling in while the revenue did not.

On the other hand, our members have done quite well through this time, with some even stating that they were busier than usual. The ability to buy jewelry provided a source of hope at a time when people needed so much of it.

What does “Virtual” selling encompass?  Many things such as Facebook Live, Instagram Live, Youtube Live, Facetime, Zoom, Skype, Facebook Rooms and a whole host of other platforms.  Your ability to do business across these various mediums can constitute an entirely new “Revenue Stream” for your jewelry store!  The question truly is..will you adapt to these new technologies or will you take the “Ostrich” approach and keep your head buried in the sand hoping things will go back to the way they used to be?

(This is an excerpt from Bill’s new book, “The Fastest Way to a Full Recovery”..Five Immediate Profit Enhancing Strategies Jewelers Can Use Today To Create a Thriving Business” which is available now in Kindle or Paperback format on Amazon as well as an audiobook version with a “BONUS Chapter” at