Wednesday, February 2, 2011

Scrap Gold Promotions Revisited

Yes, I realize I’ve written about SCRAP GOLD before, but I felt the need to revisit this for one reason….too many jewelers are overlooking obvious “Golden Opportunites!” As gold & silver prices rise, I continue to see folks bringing in their scrap gold. However, could you have been overlooking an untapped market in our friends the “Latinos”?

After securing an all spanish speaking mailing list (I got this from James Porte of Porte Marketing Group), I mailed a postcard which was written in Spanish with special offers of buying their gold. At first, I was a little worried because nothing happened for about a week...but! Not only did one Mexican family come in, but they spread the word to several. It also seemed that they were grateful that our store had “Noticed Them!”
As we have many latino groups in our area such as: Mexicans, Columbians, Cubans, Brazilians...these folks often feel like they are not accepted or noticed. Think about this: You may be the only jeweler in your area that serves this niche’ market! It can also be a very profitable market!!!

An amazing thing I’ve noticed...this ethnic group seems to prefer cash, they often pay for things with only cash and don’t think because they are selling their scrap gold that they don’t have money! They are some of the most thrifty shoppers anywhere and we shouldn’t be turning our noses down to them.

Think about it and put this idea to work in your store!

Until next time,

Bill Warren