More Insights on How Jewelers Can Cash in on the Pricey Proposal Trend

After covering the pricey proposal trend last Saturday, I had a few comments land in my inbox that were too good not to share.

Feel free to weigh in with your own ideas on how jewelers can help out YouTube fame–chasing couples ready to tie the knot.

I recently spoke with a retailer who proposed to develop an “idea book” on how to plan a spectacular marriage proposal as part of the experience of shopping at his store. It’s a fantastic idea. Whether a jeweler has an idea book or not, talking about the ring presentation during the sales process allows the shopper to imagine having purchased that ring; an effective pre-closing strategy. Discussing the proposal after the sale helps move the seller into the “trusted advisor” sphere and helps build strong client relationships. If you have some clue that we’re here to help advise people on the best ways to celebrate the special moments of their lives, you’ll go far in this business!
Todd Wasylyshyn, founder of The Toddwaz Report

The concern of the retailer is always about how to be competitive on price. The reality is, if retailers would focus on something other than price then the rest will take care of itself. “Expensive” is a relative term and is very subjective to the individual. However, most people, men and women, would say that their wedding proposal moment should be an “experience” and in that sense is truly priceless. Will every customer be willing or able to shell out $45k on a proposal? No, but most would spend more to make it perfect, and would probably admit it’s not just about the ring. If jewelers can get involved in the emotion (one of the 4 E’s of Luxury Marketing) of the purchase then there are other motivations they can play off of from the consumer’s Limbic Brain and decision-making. Jewelers should see how they can get involved more in the entire experience than just the sale of the ring(s). Partnering with a travel agent for “proposal getaways” or fine dining establishments, something that helps package the ideal proposal up for the customer to make it easier. Maybe there’s a person (probably a female) on staff that’s a “Proposal Consultant” and she helps to set up the ideal night by making suggestions and knowing a few restaurant proprietors. She could walk through what your woman likes and help arrange a true event, which of course does include a ring.
Nate Davidson, luxury brand strategist, Facet Marketing

We did work with a groom recently who was proposing on a trip to Europe. Because mass communication and timing was going to be tricky, the engagement ring had its own Twitter account and he asked us to follow it and add comments about the ring so all the followers could see it. It wasn’t hard, but we had fun following the “ring” and letting their family and friends know some info about us, the designer, helping work with the groom, etc.
Terri Garlick, marketing and social networking coordinator, Craig’s Fine Jewelry