Catch of the Day

[WinkHPD]

Storm,

I think what Leonid means is that I must become MY brand. In this I think he is 100% correct. Many of my clients buy from ME even if I am a few dollars more than someone else because they trust ME. Therefor, for some people, WINK is THE BRAND. Of course for others he is not...

Wink

 

[strmrdr]

Date: 6/6/2005 8:40:10 PM
Author: Wink
Storm,


I think what Leonid means is that I must become MY brand. In this I think he is 100% correct. Many of my clients buy from ME even if I am a few dollars more than someone else because they trust ME. Therefor, for some people, WINK is THE BRAND. Of course for others he is not...


Wink

That is 100% currect and is probably what he ment. Slides are often only 1/3 of the story with presentations.

 

[pricescope]

Wink is absolutely correct. at #28 and #29 we talk about new understanding of "Brand is a measure of trust" and "New concept of brand:
encapsulation of actual, experienced value" as opposite to bombarding consumers with marketing messages.

 

[cflutist]

Yep, trust is what it is all about. I trust Wink implicitly.

Funny story, there is a local jeweler whose tagline is "A tradition of trust". Well I surely don''t trust him anymore after he replaced the stem of my 14K Baume & Mercier watch with a fake part which coroded green in one month. Turns out he was not a B&M authorized dealer and such could not get the factory parts.

 

[strmrdr]

I kinda suprised at the less than 2% number Id have pegged it as higher.

If they get involved and ask for recomendations it is much higher percentage id bet.

edit> slide 11

 

[Regular Guy]

Date: 6/6/2005 8:23:57 PM
Author: Pricescope

Date: 6/6/2005 7:47:48 PM
Author: Regular Guy
...

Can you say more about what you mean on slide #7, item 4: DIY & case studies

DIY .... would take another lecture.

Re # 51...I''m not sure how I agree. Maybe you comments regarding #7 will help me understand the nature of interactivity I even want to seek myself, between:

• Price is not the main issue, Trust & mutual respect are - This is based on what we hear here and some other data about the sales

Why would your disagree?

If the diamond provided for sale is understood with a good degree of descriptors, including measurement data, and pictures, etc., having trust in the providor is less of an important criteria...or at least...dependence on the vendor for the added value they play, beyond having brought forward the selection to begin with. With good capturing of data...issues of trust could become more incidental. This does, however, depend on what real understanding we can have of the smart prosumer successfully....DIY.

Sort of like raising children...you want to be skilled teachers as parents...so that you''re no longer needed as parents...right? Then the childen can do it themselves.

 

[pricescope]

Date: 6/6/2005 8:52:27 PM
Author: strmrdr
I kinda suprised at the less than 2% number Id have pegged it as higher.

If they get involved and ask for recomendations it is much higher percentage id bet.

edit> slide 11

Last issue of Rapaport magazine (June 3, '05) is dedicated to the Internet issues. They also arrived to 5% for online jewelry sales. According to Rapaport

U.S. Retail Jewelry Sales in 2004
Retail jewelry store sales.....56%
Internet jewelry sales..........5%
Other..............................39%


Usage of Different Categories of B2C Jewelry Websites
Auction Sites............................55%
Department Store Sites.............15%
B2C Jewelry and Diamond Sites...10%
TV Shopping Websites...............10%
Other....................................... 5%

 

[strmrdr]

"less than 2% of the pricescope visitors buy from its online advertisers"

Was the 2% i was referring too.
The ones that get involved and ask for recommendations its a much higher percentage I think.

 

[pricescope]

Date: 6/6/2005 9:22:41 PM
Author: strmrdr
''less than 2% of the pricescope visitors buy from its online advertisers''

Was the 2% i was referring too.
The ones that get involved and ask for recommendations its a much higher percentage I think.

I understand. 2% came from the number of daily visitors and sales. The number can be less or higher but the error shouldn''t be more than 100%.

At any rate, it fits into 5% total online diamond sales picture.

 

[Kaleigh]

Question, there are many people that come here to gain valuable knowledge, but never register on PS. They may order their stone from a PS vendor and you would never know. So how does that enter into the equation?? Just curious.

 

[pricescope]

Date: 6/6/2005 10:00:25 PM
Author: kaleigh
Question, there are many people that come here to gain valuable knowledge, but never register on PS. They may oder their stone from a PS vendor and you would never know. So how does that enter into the equation?? Just curious.

It''is just my estimations based on ball park number of diamonds sold by Pricescope vendors.

 

[strmrdr]

Date: 6/6/2005 9:37:54 PM
Author: Pricescope

Date: 6/6/2005 9:22:41 PM

Author: strmrdr

''less than 2% of the pricescope visitors buy from its online advertisers''


Was the 2% i was referring too.

The ones that get involved and ask for recommendations its a much higher percentage I think.

I understand. 2% came from the number of daily visitors and sales. The number can be less or higher but the error shouldn''t be more than 100%.


At any rate, it fits into 5% total online diamond sales picture.

Thats kewl I was just curious not busting your chops :}

 

[strmrdr]

Date: 6/6/2005 9:03:17 PM
Author: Regular Guy

Date: 6/6/2005 8:23:57 PM

Author: Pricescope

Date: 6/6/2005 7:47:48 PM

Author: Regular Guy

...


Can you say more about what you mean on slide #7, item 4: DIY & case studies

DIY .... would take another lecture.

Re # 51...I'm not sure how I agree. Maybe you comments regarding #7 will help me understand the nature of interactivity I even want to seek myself, between:

• Price is not the main issue, Trust & mutual respect are - This is based on what we hear here and some other data about the sales


Why would your disagree?

If the diamond provided for sale is understood with a good degree of descriptors, including measurement data, and pictures, etc., having trust in the providor is less of an important criteria...or at least...dependence on the vendor for the added value they play, beyond having brought forward the selection to begin with. With good capturing of data...issues of trust could become more incidental. This does, however, depend on what real understanding we can have of the smart prosumer successfully....DIY.


Sort of like raising children...you want to be skilled teachers as parents...so that you're no longer needed as parents...right? Then the childen can do it themselves.

Some would consider me pretty hard core prosumer and I feel I could get a super-ideal diamond from any vendor willing to work with me at my level and on my terms but Id avoid the hassle and go with a trusted vendor that speaks the lingo and can prefilter super-ideal stones for me.
That way I dont waste my time looking at nasty diamonds.
Even if I pay slightly more in the end its worth it to avoid the hassle.
Why should I waste my time educating a vendor so they can bring them in and get the data I need?

 

[valeria101]

Just went through the slides ...

It is easy to understand why you havd full court at your presentation, Leonid

Is there room for a question or two after the fact ? Just in case, here is one of many that came after the reading:


If 80% of diamond buyers inform their prefferences online and only 5% buy there... is it safe to say that the balance didn't care for web content at all ?

The presentation mentions that the time and medium separation between learning and buying is something new... Is it here to stay ? After all, it could have well been the case that most browsers also become internet buyers and the gap between the two numbers remains small. As is, the two munbers make the net into an odd kind of souk: a new shop that opened in town and attracts most buyers but only manages to sell to a fraction of them.

 

[cflutist]

Date: 6/6/2005 9:10:16 PM
Author: Pricescope

Last issue of Rapaport magazine (June 3, ''05) is dedicated to the Internet issues. They also arrived to 5% for online jewelry sales. According to Rapaport

U.S. Retail Jewelry Sales in 2004
Retail jewelry store sales.....56%
Internet jewelry sales..........5%
Other..............................39%

The June 1, 2005 issue of National Jeweler had a survey which said the following with respect to engagement ring sales:

Local Retailer 52%
National jewelry chain 25%
Other 15%
Online Retailer 5%
Department Store 2%

 

[Garry H (Cut Nut)]

Anyone notice Rap never mentions Pricescope - yet the name is all over his competitors mag''s and news / chat''s etc - the Polygon and Idex organizations

 

[pricescope]

Many thanks to John Q. for his help to make the entire video available.

• Part 1/4
  
• Part 2/4
  
• Part 3/4
  
• Part 4/4

 

[Regular Guy]

Date: 6/6/2005 8:23:57 PM
Author: Pricescope

Date: 6/6/2005 7:47:48 PM
Author: Regular Guy
...

Can you say more about what you mean on slide #7, item 4: DIY & case studies

I just wanted to give few examples for different approaches/niches.

When Garry checked the draft he wrote: ''Name all advertisers or they will kill you''

I left this slide as is - just had no time to mention everybody.

I was talking about different examples how different approaches to the internet can be successful using Bill Pearlman, Facets, GOG and WF examples. Sort of case studies.

DIY part wasn''t done properly - it would take another lecture. I just talked briefly about slides 47-50

Re # 51...I''m not sure how I agree. Maybe you comments regarding #7 will help me understand the nature of interactivity I even want to seek myself, between:

• 80% of your customers visit the web - This is based on the stats of traffics and sales. Last Rapaport magazine issues cites same or close figures.
• 5% buy online; But this will grow, with or without you
• Price is not the main issue, Trust & mutual respect are - This is based on what we hear here and some other data about the sales
• Stop fearing the web - learn how to use it
• Meet your customer there, find your voice now
• Develop a vision, commit to what you do best & constantly improve
• Remember: Trust = Brand = Added Value

Why would your disagree?

On DIY...on the chance you''re on a roll....I''d be ready for another lecture.

Regards,