Learning from the Winners

Once a year I have the privilege of judging, awarding, and serving as the Master of Ceremonies for the Retailers Association of Massachusetts Awards of Excellence program, referred to as the RAMAEs. It is a program that I started 10 years ago and we have now given 62 awards to deserving retailers across the state of Massachusetts. Last year we even added an award for the best downtown shopping area. Without a question, it is one of the most rewarding things I do. The work is strictly voluntary but I am committed to continuing my efforts for as long as I am able.

There are a couple of reasons for my commitment. First is for the simple reason to recognize someone for doing something they love to do well. That is perhaps the one thing most of the winners have in common. The love and passion for doing what they do. Retailers rarely receive awards and it's nice to see them win. The other reason I love being involved so much is that there is an endless supply of wonderful business ideas and philosophies that I am able to share with my readers and listeners. Here are some of the ideas from one of this year's winners.

Long's Jewelers is a 130 year old jewelry store-- actually there are 7 of them. They are as young and aggressive as a fresh new MBA. Actually, Long's is led by a young man who is more mature with business savvy far beyond his years. If there were ever a CEO that "gets it", Craig Rottenberg gets it. He has moved his stores from being in the premier malls around Boston to stand alone locations near the malls. He has made all of his stores the destination. By doing that he has actually increased visibility to the businesses, expanded their selling floors, reduced their expenses, and allowed the type of event marketing that might be lost in a mall.

This is a higher end jewelry store that has chosen not to get involved in the typical jewelry price war. Mr. Rottenberg has filled his promotional calendar with different events every month. Many times these events are focused on a vendor or designer but they also include charity and sponsored events as well. They supply the trophy for the Boston Marathon and of course they are the Official Jeweler for the road race. Who ever thought a jewelry store would sponsor a road race? Great idea considering they also come out with a complete Boston Marathon Jewelry collection. Brilliant!

They constantly promote but always with interesting themes or give-a-ways. They will joint promote with other businesses, such as a free Mini Cooper. It is always something first class and always something you want to see, do, or learn about. But they do have a very interesting price proposition on certain lines they sell. If you buy the particular item they will give you a gift card for 20% of the value of the item to be used within 6 months of the purchase. If you purchase a $500 item, you get a $100 gift card. No one throws away a $100 gift card, so you go back and buy something else. Brilliant!

Their web site is not only elegant but comprehensive and functional. Form and function come together beautifully here. Regarding the boom in internet sales of jewelry, Mr. Rottenberg's said, "Yes, the sales of internet only jewelers are growing but the numbers to total jewelry sales are still extremely small. We embrace ecommerce but there is more than enough traditional business to handle for years to come". This is as if to say we can go either way and adjust very nicely. Brilliant!

They have also figured out the issues of name brands and building their own brand. They make it simple by carrying the leading brands and therefore they are only enhancing their own brand. Customers go to their store not only because they carry certain prestige labels but because the customer can depend on Long's to have the best. That's Brilliant!

They have adopted the use of billboards and anyone who has been reading this column for a while knows how powerful billboards can be. But the thing I love the most about this award winning business is their business philosophy that can best be described in some quotes I got from Craig.

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  "We make men HEROs."
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  "We help people out of the dog house."
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  "We help people celebrate."
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  "We make the self purchasing jewelry customers feel GREAT about themselves."
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  "It's not the watch... it's the statement on the arm that matters."

Again, Brilliant!

I love those and hope you did to. Next week I will share some tips from the other winners. Now go help a customer celebrate Thanksgiving and be thankful for all that we have. Happy Holiday!