Forums: Discussions for entrepreneurs and small business.

Hello all

I have a new jewelry website and my team and I have been looking into the idea of joining up with another company in order to increase sales. What would be the best way for my website to create that kind of  `leverage`? 

Advice anyone?

EranAvital.com Jewelry

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http://www.eranavital.com Gold and Diamond HandCrafted Wedding Bands, Bridal Jewelry and Fashion Jewelry.

Can you explain what you mean by joining up?

Do you mean linking?

Well not just linking - because that we are doing already, What I mean by joining up with another online company is that - maybe there is another way to market my jewelry online and not just through my website. I know of some for example that use ebay as a way of creating `leverage`. I personaly find ebay a very hard place to market jewelry. 

I hope this makes sense,

EranAvital.com Jewelry! 

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http://www.eranavital.com Gold and Diamond HandCrafted Wedding Bands, Bridal Jewelry and Fashion Jewelry.

You could try an affiliate marketing system ... maybe that`s what you mean?

Is this handmade jewelry? If so, you might look at etsy.com. If it`s not, and you`re re-selling jewelry, then the question is why you think two companies selling similar items, joined, would be a good idea? Or is it that the other company sells a related, but not similar product (for example, they sell clothing)?

Ok my dear friends!

My team and I have been doing alot of thinking today....So here I go and let me know what you think about this idea:

We were thinking about running some kind of contest with our past customers[or whoever] that the one who brings in the most buyers within a certain period of time, will receive some kind of prize; either a nice commission according to his/hers sales or a nice peice of expensive jewelry, something along that line.

Also the winner will receive some kind of recognition on our site or on a nice plaque in the mail to hang up on their wall.

How does this idea to increase sales sound to you?

EranAvital.com Jewelry!

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http://www.eranavital.com Gold and Diamond HandCrafted Wedding Bands, Bridal Jewelry and Fashion Jewelry.

As a customer, I`d say the idea would work for repeat customers. In other words, when I buy something, I`m aware the site keeps my info and mails me catalogs or promotions. But most of the time I just bought that one thing because that`s all I wanted from the site.

I`d cull your lists and find people with more than one transaction. That`d maybe work well....maybe?

EranAvital,

I think that it has a chance to increase sales but I don`t think it would be extremely beneficial.

Lets say it is for 30 days.

Here is what I would analyze before trying it. How much will it cost to implement, manage, and market? You have to have some sort of tracking system whether electronic or other. Manage it and monitor for cheating. Lay out the rules before hand which people must agree too, to participate. Then market that you are having the contest. Add up all those costs and keep them in mind.

Now for the profit side. Take your average number of buyers per month and get 1% of that number. So if your average number of buyers is 100 per month your 1% is obviously 1. This means that you are likely to have 1 person per hundred participate.

Where did I get this data? It`s called The1 Percenters. 1 percent of people do most of the work in forums, in clicking web ads, etc... It`s documented fairly well.

If that 1% will offset the cost then it is worth it. Like all rules, this always works, except when it doesn`t. If you think you can beat the numbers then I say go for it.


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