THE EDGE INSIDER

 

 

Updates, news, and advice from Dick Abbott, President

 

 

2024: Let’s Make it a Banner Year Together

 

 

As we usher in 2024 with optimism and anticipation, we reflect on a tremendous 2023, a year that marked our 20th anniversary and witnessed a remarkable 25% increase in business.

 

The Edge was born from a desire to enable me to manage my store remotely. It worked so well that I wanted to share it with other independent retail jewelers to help them make better business decisions based on solid retail analytics.

 

The journey has been nothing short of extraordinary.

Harness the Full Potential of Your Business with The Edge

 

There’s no understating the key role The Edge plays in unlocking the potential of your business. It’s the ultimate tool, unmatched in its ability to refine your operations and propel your success. At the heart of your business lies your product selection; getting it right is essential.

 

The Edge’s inventory management component is precisely designed to achieve and maintain your optimum inventory level, ensuring you maximize sales without missing opportunities or overstocking. We strongly encourage you to dive deep into its capabilities.

Elevate Sales Team Performance

 

Beyond inventory, The Edge is instrumental in enhancing your sales team's performance by identifying strengths and areas for improvement. A well-tuned inventory and a skilled sales team position you to meet customer needs more effectively, encouraging frequent visits from your existing customer base and attracting new clientele. You might want to look into look into Clientbook or Podium to see how they might benefit your sales team. Explore the outstanding CRM capabilities built into the Edge.

 

Understanding and nurturing your customer relationships is crucial. It’s likely that as few as 5% of your customers contribute 50% to your annual total sales. Recognizing and celebrating these key customers on their birthdays and anniversaries can leave a lasting impression. For the best of the best, consider delivering a birthday cake or an anniversary bottle of champagne. Bet it would be a first for them, and something they’d not forget. A loyal clientele is a huge asset.

 

Utilize The Edge’s features (emails, text messages, postcards) for event announcements and special recognitions to bolster customer retention.

Innovative Partnerships and Features for Enhanced Engagement

With integrations like Clientbook for CRM and Podium for payments, alongside The Edge's robust CRM capabilities, your marketing and advertising efforts can become more targeted and effective.

 

Drive Retail, in addition to providing over 800 jewelry-specific postcards, has introduced the ability to create personalized catalogs and the ability to get them to new potential customers based on their demographics. The right message at the right time can produce incredible results. One such event produced $80,000 in sales from a $250 investment in postcards to a select 250 customers. I’d encourage you in 2024 to invest $3 into each of your top 5% customers.

 

Exciting Developments on the Horizon

Looking forward, we are committed to revolutionizing your inventory buying process. By collecting real-time sales data, we will provide invaluable insights to help with your inventory selection. The new feature will create automatic purchase orders and the product ordered through this feature will automatically flow into inventory with crisp images and product descriptions saving you time and producing more sales.

 

Additionally, we're overhauling our repair process for ease of take-in and job pricing.

 

Expect to see salesperson’s goal setting and monitoring dashboards and reports.

 

We have a new CC partner that provides consumer credit options at point of sale that can be a great selling tool, and new appraisal integration partners are also on the way.

 

Our Commitment to Your Success

We are sensitive to the needs of the jeweler in today’s economy and are looking for ways to save you time and money while increasing your sales and profits.

 

As The Edge evolves to meet the ever-changing landscape of technology and business needs, our core mission remains the same: to support your growth and success.

 

The upcoming year is filled with promise, and we are excited to embark on this journey with you.

 

Let's make 2024 a year of unparalleled success.

 

Warm Regards,

DICK