RINKER ON COLLECTIBLES — Column #1434

Copyright © Harry Rinker, LLC 2014

What Customers Want

BJ Bueno, a retail consultant, marketing strategist, and author of “Customers First: Dominate Your Market by Winning Them Over Where it Counts the Most” (McGraw-Hill, 2012), is a member of the United States Postal Services’ Citizens’ Stamp Advisory Committee (CSAC).  I also serve on CSAC.  CSAC, a 15-member committee, recommends to the Postmaster General postage stamp subjects that are contemporary, timely, and relevant, while at the same time representative of the cultural diversity that is the United States.

BJ’s clients include Kohl’s Department Stores, LA Lakers, and Turner Classic Movies.  In addition to focusing on branding, BJ also studies and analyzes what customers expect from the buying process.

During CSAC’s July 2014 meeting in Washington, DC, I had the privilege of sharing a meal with BJ.  Much of our conversation focused on talking about trends in our respective fields.  Like me, BJ is an individual who constantly seeks connections between his and other fields of endeavor.  His analytical efforts are statistically (quantitatively) driven, although his insights often rely on common sense and intuition.  Analysis within the antiques and collectibles field is qualitative, more observation and gut-driven than based on hard data.

In the course of the CSAC meeting, BJ noted that today Americans want “joy, optimism, and compassion” from their buying experience.  I never considered the buying experience from this viewpoint.  I made a note of the three words so I would not forget.  Immediately below the note, I wrote: “how do you translate this in respect to the sale of antiques and collectibles?”

Writing about joy, optimism, and compassion from the collector’s perspective is easy.  Collectors experience the joys of the hunt, an unfettered optimism that the object they desire most is waiting to be discovered in the next booth, case, or aisle, and a compassion for other collectors whose success is not as great as their own.  Since collectors no longer represent the majority of antiques and collectibles buyers in 2014, this column focuses on how these concepts impact the conversation/decorating buyer and the general public who attend antiques and collectibles flea markets, malls, shops, and shows or surf the internet looking for objects.

When these individuals encounter the traditional “let the objects sell themselves” approach, they are most likely to pass by rather than buy an object.  Even the old merchandising adage of “selling the sizzle and not the steak” is not enough.  Today’s sellers have to include joy and optimism as part of a compassionate selling process.

The first step is for the antiques and collectibles industry to accept the premise that objects no longer sells themselves.  Selling antiques and collectibles in the 21st century is an interactive process between the seller and the buyer.  There are no national media advertising and branding campaigns for antiques and collectibles.  Our business is personal.  Loyalty and trust are created one customer at a time.

Joy is inherent in antiques and collectibles.  Each object is a personal treasure, a find.  The more the seller is able to convince the potential buyer that this is true, the easier it will be to conclude the sale.  This is difficult when the sale venue is the internet and antiques mall.  The seller is not physically present.  Internet and antiques mall sellers must use words in their listings and/or sale tags that convey joy.

The end goal is to instill in the buyer a sense of excitement when the purchase is concluded.  The object is no longer inanimate but alive.  The object is something the new owner feels proud to own and reinforces his/her ability to make wise decisions.  The true sizzle in the antiques and collectible business is passion.  Passion leads to love.  Collectors fall in love with objects naturally.  The decorator/conversation buyers and general public have to be shown that love is possible and the path they need to travel to reach that level of ecstasy.   Instead of “Romancing the Stone,” with apologies to Danny DeVito, Michael Douglas, and Kathleen Turner, the trade needs to focus on “Romancing the Object.”  What could be more joyous?

The 2008-2009 Great Recession made it difficult for the antiques and collectibles trade to “Pack up Your Troubles in Your Old Kit-Bag and Smile, Smile, Smile.”  Six years later, some sellers still are finding it difficult to smile.  However, there is no question that the antiques and collectibles trade as a whole is experiencing a recovery.

Unfortunately, antiques and collectibles sellers have a bad habit of sharing their “tales of woe” aloud.  The trade should learn to sing more, taking Ella Fitzgerald’s advice to “Pack up all my cares and woe / Here I go, singing low….”

When observing events at an antiques show, I witnessed a dealer using what I feel is one of the best opening lines in the business.  Rather than the traditional “if you have any questions, I would be delighted to answer them,” “can I help you,” or “I can do better on the price,” the dealer said to a potential customer: “I see you are admiring that piece.  You show good taste.  Allow me to tell you more about it.”  I spent over half an hour observing that dealer.  While she did not make every sale, she made more than most.  The dealer’s opening approach created a feeling of optimism in the potential buyer.

Today’s buyers want to feel special.  They want reaffirmation that their selection of an object is a wise one.  This can be accomplished in several ways.  First, sellers can suggest to buyers how they might safely use or display the object.  Too many buyers are afraid of objects, not necessarily because they are valuable but because they are old.  When buyers can be shown how to interact with objects without damaging them, they will be more willing to buy them.

Second, buyer optimism is created by creating a bond between the buyer and the object.  The easiest method to achieve this is to provide the buyer with information and, ideally, a story about the object.  Information and stories make the object special.  They allow buyers to share what they know with others, thus creating a pride of ownership.

How does compassion become part of the selling experience?  Concern, kindness, sensitivity, and tolerance are synonyms for compassion.  These synonyms suggest that the buying process needs to have a warm rather than a cold feel.  Simply put, the process needs to be personal.

When approached about providing an appraisal, appraisal clinic, article, blog, or consultation, I end the initial discussion with the phrase: “I look forward to being of service.”  When I complete the task, I always write or convey: “Thank you for letting me serve you.”  These phrases indicate my concern and sensitivity to my clients’ needs.

The antiques and collectibles industry is short on service.  Few dealers work on developing second-time buyers.  The general attitude is let the business come to me and, if you do not buy it, someone else will.  Count the number of times you heard “thank you” or “I appreciate your business” once the sale was concluded.   The answer is fewer than half the times.

Many sellers are arrogant to the point where they adopt an “if you do not recognize and appreciate the value of an object, I have no interest in selling it to you” attitude.  Selling is work, something many sellers keep to a minimum.  The key is patience and tolerance when working with a potential buyer who likes but does not understand the importance of an object.  Too many dealers view these potential buyers as “lookers” or “tire kickers” rather than individuals whose willingness to buy needs cultivation.  Educating the buyer is not one of the trade’s long suits.

There are sellers, alas not in the majority, who do sell the joy in purchasing an object, the optimism of ownership, and show compassion and understanding toward the buyer.  These individuals have my highest respect and admiration.  They are the models new sellers in the trade should emulate.

Rinker Enterprises and Harry L. Rinker are on the Internet.  Check out www.harryrinker.com.

You can listen and participate in WHATCHA GOT?, Harry’s antiques and collectibles radio call-in show, on Sunday mornings between 8:00 AM and 10:00 AM Eastern Time.  If you cannot find it on a station in your area, WHATCHA GOT? streams live and is archived on the Internet at www.gcnlive.com.

SELL, KEEP OR TOSS?  HOW TO DOWNSIZE A HOME, SETTLE AN ESTATE, AND APPRAISE PERSONAL PROPERTY (House of Collectibles, an imprint of the Random House Information Group, $17.99), Harry’s latest book, is available at your favorite bookstore and via www.harryrinker.com.