Are you wondering how to compete in the "saturated" handmade jewelry marketplace?
I recently asked my email mailing list to send me their biggest handmade business questions. Here's the question I'm tackling today:
I notice all the handcrafted jewelry for sale on the web and at craft and art shows. My concern is the abundance of handcrafted jewelry available. How do I compete in what seems like a saturated market. I love creating jewelry, but I have accumulate so much that it is time to part with some. Have a great day, DeAnna
Competing in a saturated market is always tricky, but then again, it's saturated because people are buying!
The key to competing is to be better at fulfilling your customers needs than other people.
5 Ways to Fulfill the Customers' Needs Better Than the Competition
1. Be Better Than The Competition.
Analyze your competiton and find out what their strengths and weakness are. How can you be better in ways that matter to your target customers? (Note: I said TARGET customers. Read #2 carefully).
Here are some ideas of areas to analyze:
- Customer service turnaround time, frinedliness, accessibility
- Customizing options
- Offering gift certificates
- Accessibility (Can people buy online? In person at your studio? Only at shows?)
- Presentation (at shows, in store)
- Personal demeanor (at shows, in store, on phone)
- Attention to detail
- Asking questions to find out what the customers want
- Price points
- Payment processing option
- Quality of craftmanship
- Quality of supplies
- Shipping times
I'm sure you can think of some more...
2. Know your Customer and Make That Knowledge Count for Something.
What is your ideal customer like? What is their age, interests, who are they buying for? Make sure you know them inside and out and make your business attractive in ways that matter to them.
3. Make Your Products Hit the Mark.
What makes your products stand out?
In a saturated market you absolutely need to be laser targeted as the lady who sells,"xxxxx" or the guy that makes "xxxxx". That way, people remember you, and you're no longer one of many. Instead you are the one that makes "xxxx".
4. Follow Up.
Get each and every customer onto an email mailing list. At a show, keep a guest book and encourage people to join your mailing list. If you have a blog showcasing your jewelry, add a mailing list subscription form to it. Once you have a list, follow up. Eight times a year is a good minimum goal for following up. You want people to keep you in the front of their mind.
5. Make Everything Easy for the Customer.
Make it easy to buy in person and to buy online, and make it easy for people to contact you. Think of every objection you can, and take it away. (Except for price. If the biggest objection is price, then you need a new set of customers to target).