Looking to connect with more affluent consumers? Consider a recently forged partnership between James Free Jewelers, which operates stores in Dayton and Cincinnati, Ohio, and local BMW, Porsche, and Jaguar dealers.
Here’s the deal: James Free provided the dealerships with $250 gift certificates at no cost to them. In exchange, the dealerships agreed to give or mail the certificates only to consumers who purchased or leased a new vehicle. The idea being that the jewelry retailer targets truly affluent consumers, as opposed to everyone who test-drives a Beamer.
Elements of the package James Free Jewelers gave to local auto dealers (courtesy of Porte Marketing Group)
The presentation package, conceptualized and created by Porte Marketing Group, includes the $250 gift certificate, a 4″ x 6″ hard-cover booklet featuring high-end watches and jewelry from top-flight brands including Rolex, Ivanka Trump, Mikimoto, and Honora.
The campaign began in December and will continue year-round. David Tellmann, marketing director for James Free, said in a statment that the gift certificates have upped sales, but stressed that the exposure the store has received has been “extraordinary.”
James Porte, founder of Porte Marketing, says jewelers that form partnerships with car dealers create “a steady flow of new customers 365 days a year” because “the little 4″ x 6″ silent salesman cross-promo program represents a third-party endorsement of the store.”
Porte cites an email from the owner of Cumberland Diamond Exchange in Smyrna, Ga., as evidence of the sales synergy that can exist between local retailers. Cumberland created a partnership with Smyrna’s local Lexus dealership, and the owner of the store sent an email to Porte gushing over a $13,000 sale closed with a customer who had received a gift certificate.
Does every customer who receives a gift certificate buy a high-ticket item? No. But it makes sense, as a luxury retailer, to create partnerships with like-minded retailers in your community.