Surviving the Economy.....
Do you think the economy is affecting/will affect your handcrafted jewelry business ?
As an artistic entrepreneur and indie business owner, it is difficult not to panic when listening to US and world financial reports. It is important to take creative action so that your handcrafted jewelry business survives the current economy.
I recently was at a "retail" Craft Fair & Gift Market and my sales were 1/4 of what they have been in past years. Ouch! There was plenty of traffic but not a lot of shopping going on.
Unlike other vendors, I did not mill around and complain about lack of sales! I focused on having conversations with potential customers and increasing my mailing list (and making mental notes of what items those folks were drawn to so I can send targeted e-mail offers).
I took action that positions me to grow my business by expanding my customer base!
Being consistent with my marketing activities resulted in Designing-Diva having a stellar month in sales for September and still going strong! The average purchase has been in the $50-$75 range so I will continue to highlight jewelry items in this price range.
On the wholesale side, I have noticed retail buyers interested in a range of prices trying to attract potential customers with a variety of products and price points.
I truly believe in order to survive the economy, handcrafted jewelry artists and other indie crafters will have to approach their business with the same creativity they inject into their designs.
If you are on a very limited marketing budget, pitch other business's with a partnership:
As an artistic entrepreneur and indie business owner, it is difficult not to panic when listening to US and world financial reports. It is important to take creative action so that your handcrafted jewelry business survives the current economy.
I recently was at a "retail" Craft Fair & Gift Market and my sales were 1/4 of what they have been in past years. Ouch! There was plenty of traffic but not a lot of shopping going on.
Unlike other vendors, I did not mill around and complain about lack of sales! I focused on having conversations with potential customers and increasing my mailing list (and making mental notes of what items those folks were drawn to so I can send targeted e-mail offers).
I took action that positions me to grow my business by expanding my customer base!
Being consistent with my marketing activities resulted in Designing-Diva having a stellar month in sales for September and still going strong! The average purchase has been in the $50-$75 range so I will continue to highlight jewelry items in this price range.
On the wholesale side, I have noticed retail buyers interested in a range of prices trying to attract potential customers with a variety of products and price points.
I truly believe in order to survive the economy, handcrafted jewelry artists and other indie crafters will have to approach their business with the same creativity they inject into their designs.
If you are on a very limited marketing budget, pitch other business's with a partnership:
- Offer a non-competitive give away to gain a wider customer base.
- Hold a trunk show at a local business & offer them a % or encourage them to let you donate % to community based charity. The charity donation would make a great pre-show press release for your local paper.
- Host a trunk show in your home or a friend's and offer an incentive to stop by and shop. Find other indie business's and hold your own mini event! Eg. Offer door prizes or discount coupon if they bring a friend.
Do you have a great creative tip to surviving the current economy? Please leave a comment so others can benefit from your expertise!
1 comment:
hey, nice blog... I hope to be as successful as you are.
Micah
Engagement Rings
Post a Comment