BJA Seminar“Growing your business”Thursday 25th July 2013

BJA Seminar “Growing your business” Thursday 25th July 2013

• Marketing – Anne-Marie Reeves, SHO fine jewellery

• Brand Creation - Judith Lockwood, IBB Amsterdam

• Trade Magazines - Rachael Taylor, Professional Jeweller & Watch Pro

• Exhibiting Tips – Lindsey Straughton, BJA

• Start Up Loans - Vijay Patel, Birmingham City Council

MARKETING The Tools of the Trade

Anne-Marie Reeves

“Is all about having fun with fine jewellery”

Marketing is ...??

Marketing is ...??

Advertising

Exhibitions SponsorshipCommunication

Packaging

Branding PR

Social Media

Training

Displays

Trade Shows

CompetitionsCollaborations

Strategy Forward Planning

Ecommerce

WebsiteStationery

Brochures & LeafletsPrice

Product

Place

Promotion

Digital

Internet

Promotion

4 P’S

• Product• Place• Price• Promotion

Marketing is ....

A process of analysis, thought and action that is essential for business survival and long term success

It’s all about .....

You

The key to successful marketing is ownership of a carefully defined market segment.

It’s all in the planning

You

Your business

Your customer

Your team

Your Marketing

The key to successful marketing is ownership of a carefully defined market segment.

Behind the scenes

Marketing Plan

Research

Vision & Mission

ProductsStrategy

Comms

Marketing is a process of analysis, thought and action that is essential for business survival and long term success

Now it’s time to take action!

Marketing is ...??

Advertising

Exhibitions SponsorshipCommunication

Packaging

Branding PR

Social Media

Training

Displays

Trade Shows

CompetitionsCollaborations

Strategy Forward Planning

Ecommerce

WebsiteStationery

Brochures & LeafletsPrice

Product

Place

Promotion

Digital

Internet

Promotion

Next Steps

• Choose something that will be memorable!• Write a few sentences that you can use over again• Be consistent with colours, logos, images• Create a priority list with a time frame, short term

achievable goals and long term development• Meet people/network/talk about it• Spread the word wider

– Trade Press– Jewellery Editors– Social Media– Trade Shows/events/new initiatives

Build on success

• Keep in touch• Refresh/expand the offer for your customers– Branding in-store– Images for their website– Customer events– Staff training– Create materials they can use in-store

Marketing creates the story, it’s up to you to be the ambassador

• Have a clear vision about you or your products – make a statement

• Be consistent• Be memorable• Stand out from the crowd• Evaluate each project• Keep a record of your achievements/press

coverage and celebrate your successes

“Don’t be afraid to ask for advice, be true to yourself and follow your dream”

Sarah Ho

BRAND CREATION

A personal view…………..

Judith Lockwood – IBB Amsterdam -Country Manager UK

How my view was formed……

I believe that…….

• Creating a brand should be a fun, exciting, challenging and a highly responsible process.

• You become the brand and the brand becomes you.

• You have to think and behave “on-brand” always.

• You have to be believable.

So, you have your idea, the design, the product – what next?

• How do you make it a brand?• When does it become a brand?• How do you brand manage?• How do you give it value and life?• How do you make some money?• What about PR – marketing to the

trade/consumer?

A brand needs……

• A credible story• A personality and life• Reputation• Hard work • Great people• Consistency• A little bit of luck

A credible story…….

• “Once upon a time……”

• This becomes your sales pitch

• Your point of difference

• Your Unique Selling Point

A personality and a life……

• Who is your product aimed at?

• Who is your customer – both retailer and consumer?

• What are the recognisable elements?

Do we recognise this little blue box?

Tiffany

And the swish?Nike of course

Reputation……

• “A reputation can take a lifetime to build, but can be lost overnight.”

• Be known for the right things.• Don’t be arrogant• Build and use your network wisely• Talk to everyone• And have everyone talking about you

Hard work……

• Be prepared to do everything• The worst job to the best job• Remember the tiny details• Effort, determination, graft, sweat, tears,

passion, enthusiasm, belief• And then do it again and again and again and

again• Don’t give up

Great people……

• Great people are the key• Suppliers, manufacturers, your in-house team,

sales-team• And retail-partners, buying groups• If you choose the right people from top to

bottom you will have a great start in building your brand and business

Consistency……

• It means you are reliable• Trustworthy• Expectation• Quality• Reputation• Your brand message and brand values are

recognised

A little bit of luck……

• PR – trade/consumer press

• Celebrity endorsement

• Be careful what you wish for!

A little bit of luck……

• Trade colleagues and “buzz”• Hand-pick the right stores• Ambassadors• Word of mouth

• “The harder I work, the luckier I become.”

In conclusion……

• It’s not easy!• But, you are in great company.

• Richard Branson, Oprah Winfrey, Steve Jobs, Walt Disney, J K Rowling, Michael Jordan, Jerry Seinfeld, Fred Astaire, Oliver Stone,Steven Speilberg, The Beatles and Stephen King. They all overcame rejection to become successful.

How to work with trade magazines

Rachael Tayloreditor-in-chief

Professional Jeweller & WatchPro

Why should you get involved with trade magazines?

• Increased exposure of you, your business and your products

• Raising your profile in the industry• Great networking benefits• Increase your influence• Talk to thousands of relevant

people all at once

What is a good story to pitch to a trade magazine?

• A launch – a store opening, a new collection• A business deal – a new investor, a new

supplier, an important stockist• Changes to the business – new members of

staff, restructuring, new strategies• Celebrations – events, awards, successes• Sales figures – is business up or down, what

new initiatives are paying off and why

What happens when the story is a negative one?

• Face it head on – be the first to talk about it and take control of the situation

• Take the opportunity to explain what a seemingly negative story means in the wider context of your business

• Remember... People will talk regardless and it will get out, so it is better to be seen to be proactive than sticking your head in the sand

How to handle press requests and press announcements

Work with a PR agency

Hire a member of staff

Assign a member of staff

Do it yourself

A quick and easy formula for press releases

NEED TO KNOW

WANT TO KNOW

NICE TO KNOW

Images – get it right

• Make sure you have a relevant image to go with every story

• Make high res shots easily available

• If you have an event, grab a camera – journalists can’t come to every event but they can cover it afterwards if you provide them with images

Images – take yourself out of the equation

• Download section on your website• Dropbox• Mailbigfile• Yousendit

Analyse your target publications

• What regular features do they run and where could you fit in?

• How often do they write about your sort of company?

• What kind of stories tend to get the best coverage?

• Is there something that has been covered too much – can you add a new angle?

Be persistent

• If your first press release is not picked up, don’t give up

• Give the editor a quick call to ask why• Don’t demand coverage, or try to bully

anyone into picking up your press release as this will do you no long-term favours

• Most importantly, build great relationships with the journalists and editors

Questions

Contact me:rachael.taylor@itp.com

www.professionaljeweller.comwww.watchpro.com

Exhibiting Tips

Lindsey Straughton BJA Marketing Manager

Before the showResearch

• Make sure the show is for you - pay a visit, check out other exhibitors and ask other people opinions.

• Size of show - visitor numbers trade v consumer for example

• Always read the exhibitor manual – often online with forms

• Ask the organisers – they want your show experience to be successful

Before the showStand Security• Investigate how to access the secure safe areas via the Online Exhibitor

Manuals and remember to allow enough time in the morning to collect and display goods.

• Insurance - Show organisers will require public liability insurance - You have to insure your jewellery whilst in transit as well as at shows! An annual policy is often best and not a lot more expensive

• Always have someone else cover your stand if you leave it during the show

• Remember to remove your badge when leaving a show

Before the show

Essential printed materials• Business cards• Price lists• Notebook or order forms to capture visitor information- stapler

Marketing Materials • 20 to 30 Press kits for the press office – preferably a branded CD with brief press

statement and 5/6 images of product with RRP

• A press portfolio on the stand which contains any press you might have already had plus any other images and designs you may want to show visitors.

Before the showStand Preparation

• It is always a good idea to rehearse your display beforehand so that you come on setup day fully prepared. Take a photo on your phone to remind yourself

• A mirror is a useful tool

• Less is more otherwise you clutter people’s minds

• White or clear backgrounds work best – the jewellery or silverware is the hero

Tips On Exhibiting

Before the showTell everyone you are there

• Send images to the show organisers may feature your product on leaflets or in the press articles

• Send out Press Releases including your stand no

• Show invitations can be sourced from the show organisers – free entry at trade events and a discount for consumer ones - sometimes branded if you require

• Email your existing clients with a new image and invite them to your stand

Before the showTell everyone you are there

• Populate the show website – Post up your show launches on their websites – your catalogue entry and images – you pay a marketing fee and they get 1000s of hits a month!

• Use PressPoint on the BJA website

• Sign up to events - Some shows do a meet the international buyer service

At The ShowAcknowledge everyone

• Smile and greet everyone

• First impression last! Dress up and look smart and business like. There are also events most evenings that are worth attending to network with both retailers and suppliers

• If it feels right complement or ask about buyers jewellery or cufflinks - they will have though about what to wear at a show

• Advocates count -try to make advocates –may know someone who could stock your range

At The ShowInformation capture

• Always ask for a card, or ask them to make a note of their name and email address

• Have a note book and clip one card to each page - that way you can add comments underneath to remind you of the person, location or info regarding their store

• Mailing list ask for emails to add to your mailing list and give out a card with an image and your website details.

• Competitions – Hold a draw stand visitors can enter or enter yourself

At The ShowProduct Information

• Give out clear pricelists with images that relate to the product not just a number that mean something to you.

• Always date it and state how long those prices are valid for• Have a dollar or euro price list to refer to for international buyers as a

guide line

• At consumer shows give out a card with an image and your website on it

• An info board showing product in the press is a good draw to a stand

After The ShowFollow up

• Email everyone who visited the stand and thank them for visiting and showing interest within a week of the show ending - try to add in a personal note from your show note book

• Email buyer you did not see with a positive show comment and image of new range maybe they did not make it

• Follow up press release and image may just hit a journalists desk at the right time most do post show reviews

After The ShowReview the show

• Analyse what worked • what did not, what you would change and write it down • Reflect • on the shows total sales after you have systematically followed up leads

and keep a record that you add to as more come in!

Start Up Loans Programme

Vijay Patel, Programme Manager

Birmingham City Council

Date July 2013

Background

• Funded by the Department for Business, Innovation & Skills

• Over £100m• Start Up Loan Company Chaired by James

Caan, business entrepreneur and former Dragons Den investor

• Backed by David Cameron

Background

• Over a million young people unemployed• Start up loans aim is to encourage young

people to consider enterprise as a viable career option

• Little track record so need support to start• Provide mentoring and support alongside loan

Birmingham City Council• Birmingham City Council is an official delivery

partner• Allocated £4m• Spend by 31 March 2015• Looking to support up to 1000 start up

businesses• Loans £2.5-10k

Range of Support on Offer• Pre-start up: workshops, seminars and

business planning support• Start up: business advisor• Loan fund• Post start up: mentoring and coaching support• Exclusive business products from Corporate

Partners on offer once loan approved via SULC

Loan Offer• Loans £2.5-10k • Low interest rate (6% nominal which equates

to around 6.2% APR representative). • One repayment holiday may be taken up to 12

months (interest only).• Loan term between 1 and 5 years.

Information• Application Form• Business Plan• Cash Flow• Start Up Costs• Personal Budget• ID (eligibility to work in UK)

Information• Sell skills, abilities, knowledge and experience• Show knowledge and/or research of market,

pricing, customers, competitors, suppliers• Progress to date (eg, orders, premises)• Detailed breakdown of price, units sold,

margins, payment terms, cost of sales• Include all business income and expenditure

Programme Eligibility

• Available to all business sectors • To support pre and start up businesses• Viable, sustainable business idea• Already in business and trading for less than

12 months• Aged 18-30 (subject to change)

Application Process

• Each loan will be assessed by an investment panel and is subject to authorisation by SULC

• If the proposal is sound and the business plan can justify the loan value, the loan will be approved and a program of mentoring will be assigned.

Programme Contact

• If you are interested in this opportunity, email or speak to:

• Ibrahim Bhayat• startuploans@birmingham.gov.uk

• T: 0121 464 9870• Further details of this programme are

available at• www.birmingham.gov.uk/startuploans