How to Increase Jewelry Sales by Setting Goals
When you're trying to increase jewelry sales, lots of strategies work together in order to see results.
There's no such thing as a quick fix, but when you do a little at a time, soon you're crushing your sales!
But how do you know you're doing a good job? You have to set clear goals.
That's the number one way to start increasing your jewelry sales whether your sell online, to retail stores, or host trunk shows at your house!
Why Set Goals if You Want to Increase Jewelry Sales?
Having goals holds you accountable and makes your goal seem more concrete and achievable.
When Robin was the Sales Director for Dogeared, goals kept the entire sales team focused and excited! Plus, they kept them on track and working towards the big picture goals of the company. In her 5 years the the company, she grew their sales by over 800% so Robin knows her stuff when it comes to sales.
The most exciting part is seeing your goals become reality! One reason designers are hesitant to set concrete goals is because they're afraid they won't reach them. But think of it this way, if you don't know where you want to go, chances are you'll never get there.
So while it might sound scary to declare, “My goal is to increase my revenue by 20% this quarter” it helps you make a plan to get there.
Notice how this goal is written. It's an example of a SMART goal. This is an acronym for
Specific
Measurable
Achievable
Relevant
Time-based
See how it spells, “smart”?
That's because if you want your goals to really help motivate you, there has to be a clear sense for when it's achieved.
Let’s say that you want to generate more revenue.
That's great, but what does “more” really mean? More than what? More than who? Do you see where we're going with this?
For this exercise, let's say your current revenue is $5,000 per month.
Specific: vague goals lead to confusing results. If you want to generate “more” revenue, you need to clearly state what that means. Let's say you want to increase that to $6,000 per month.
Measurable: a monetary goal is very measurable. You can also use other stats like email subscribers, number of referrals, total paying customers, etc. For this example, we're using money so it's very clear if and when you hit that goal. If you consistently sell $6,000 a month – you know you hit your goal!
Achievable: make sure you are setting a realistic goal that also stretches you. In this example, if $5,000 is already a pretty good month for you, your goal of $6,000 is spot on. But if you can sell $5,000 without even trying, try stretching that to $8,000 per month.
Relevant: adjusting your goals as you go is important so that your goals are relevant to the bigger vision. If you're trying to grow your wholesale business and most of your revenue is coming from Etsy right now, it makes sense to try and hit your revenue target by adding a new wholesale account.
Time-Bound: Make sure when you're creating goals, you attach a timeline to them. One of the powerful things about setting goals and intentions at the beginning of a year is that there is a specific start and end date. You can do the same with any goal you have.
Action Step: Set some of your own goals
- Take just 30 seconds to brainstorm words and ideas that connect you to your overall business and life vision. See what comes up. Start now!
- Write your own SMART goals using the strategy above.
- Review your goals regularly and make adjustments when and if necessary.
- Place your goals somewhere visible so you are constantly reminded.
- Evaluate your goals. Dreaming big is awesome, but make sure you are staying grounded in realistic and attainable goals. Setting the bar too high can lead to abandoning your vision.
- Track your progress and adjust when needed.
Has setting goals helped you succeed in business and in life? What do you struggle with when setting your goals? Tell us in the comments below!
