A Brand is a Terrible Thing to Waste
Posted on | March 17, 2009 | No Comments
I’ve recently been seeing a lot of ads from the area’s largest luxury jeweler, Smyth. But it’s not what you might think. These aren’t ads for Rolex or Tag Heuer watches. It’s not about Hearts On Fire or Martin Flyer. These are ads for buying scrap gold. Yes, just like you see from the scores of companies with names like cash4gold, dollars4gold, or green4gold (the creativity here is mind-blowing). In fact, they’ve even rented out several temporary locations to do gold buying events. I see it on cable and hear it on the radio (actually, my dad heard it on the radio, I listen to Sirius and Pandora).
Don’t get me wrong. We’ve been buying gold for 87 years. It’s a good business. But for us, it’s a natural fit. For Smyth, however, it begs the question – is this consistent with their long term marketing goals? Do you build a reputation of being the area’s top luxury name in jewelry for almost 100 years and then risk it all to make a quick buck? Is it worth looking like just another scrap gold buyer in an already saturated market?
The point of my post is not to bash a competitor. Truth be told, they are not really a competitor. They’re pure luxury. I’m the downtown diamond guy. They’ve been around as long as we have. And they are one of the biggest jewelry retailers in the country, carrying lines like Rolex and Scott Kay. I simply question the “wisdom” in putting a century of their hard-earned reputation on the line just to cover a few expenses.
Tags: brand building > branding > brands > buying gold > cash4gold > gold > rolex > scrap gold > smyth > smyth jewelers > tag heuer
Is the Customer Always Right?
Posted on | March 15, 2009 | No Comments
I was watching Jeff Bezos on Charlie Rose the other day and there was one quote that really struck me. He was asked about Ebay and other competitors and he said, “Don’t obsess over your competition, obsess over your customers.” I appreciate that and thought about it for a while. The guy is brilliant – don’t even get me started on how cool the Kindle is.
Saturday, I had one customer come in who was ready to fight and complain about a ring (which just needed to be polished). Couldn’t have been any nastier. My father started to wait on her, and he was gonna give her the boot. I stepped in and just kept my mouth shut and fixed the problem. Then another guy came in and wasted my time and asked for a better price with no intention of buying. I kicked him out of the store because I knew he was not serious. The next customers who came in were a nice young couple looking for wedding bands. They were young professionals like me and very pleasant, and I look forward to working with them.
So here’s the question. Do I need to be spoken to like that in MY STORE? My grandfather, of blessed memory, and my father would say no. Let’s take it to the other extreme. If a customer was looking around for more than five minutes without buying, my grandfather would give them the boot. (not in such a nice way). If you’re not buying, get out! God bless him. You can’t do that anymore, but the question is how far do you go for a nasty customer?
Here’s my take on it. If you’re a nice person and pleasant to deal with, I’ll do whatever I can to take care of you. I will bend over backwards to help. If you’re not, then shop elsewhere. I know in this day and age you need to appreciate every customer, but I prefer to be treated like I treat others. Amazon is a different model then a personal business like mine. They are the internet’s biggest retailer. Listen to Bezos here, “What’s dangerous is not to evolve.” Now that I can understand and I am proud to say that we are evolving every day down here at Samuelson’s. Really great stuff from possibly the biggest forward thinker on Earth…
I Can Status Update 250,000 People
Posted on | March 11, 2009 | No Comments
So I wrote in a previous post that we had a crazy Facebook Fan page. That was in November when it was at 90,000 fans. Now it just hit 250,000. We started it a year ago this month, and in 3 1/2 months it’s grown by 160,000 people (almost triple). Pretty ming blowing stats. We’re ranked in the top 25 pages on Facebook in the fashion category, just ahead of PRADA. That’s right, Ronnie Diamond’s page ahead of PRADA. Pretty sweet.
The even cooler part is that they just redesigned facebook fan pages to compete with Twitter, so now they are like profiles. Much improved. I update the fan page status and get a couple hundred “likes” and comments. Now I’ve asked everyone, and I mean everyone, advice on what to do with it. I’m talking industry leaders and innovators. No one knows because it’s such a new territory. Well, guess what? I got some really cool ideas for it so CLICK HERE AND CHECK IT OUT and see what’s next for the Diamonds Fan Page…
Tags: diamonds > facebook > facebook fan pages > facebook fans > fans > status update
Phish Reunion
Posted on | March 6, 2009 | 2 Comments
So Phish is reuniting in Hampton, VA this weekend. I used to see Phish back in college – first in 1990 at The Bayou in DC (which has since closed) and then at the Variety Playhouse in Atlanta. Both very small venues. In Atlanta, you could walk right up to Fishman and then walk back to your seat no problem. Then I saw them at the Capital Center in ’96 and that was my last show. I didn’t like them in a bigger venue and the crowd was not that cool – at least not like a Dead Show, which is where my heart is. Well, I hope my phriends have a great time this weekend anyway. I would see them if I could fly in on a helicopter, sit backstage and then be home in bed before 12 – but I am an old man. Either way Trey rips. Check him out here playing AC/DC Bag. That’s my call for the opener – you heard it here first. Why is that song called AC/DC BAG? Cause that’s the cords – A C D C B A G… – but I have been corrected – it A C D C F A G – but I guess it wouldn’t be very PC so we’ll keep on the DL
Tags: fishman > hampton > hampton coliseum > mike gordon > phish > phish reunion > trey anastasio
Credit Crisis? How About Market Opportunity!
Posted on | March 4, 2009 | 2 Comments
So the Dow is getting crushed and even gold is leveling off and everybody wants to know what is going on. Well, I don’t have a crystal ball, and I’m not sure what’s going on either, but I here’s a video that my friend tweeted that explains it pretty well – a little long but worth taking a look:
So what is there to do? To me, THIS IS THE TIME TO TAKE ADVANTAGE. You can get ads cheaper than a couple years ago, become a leader in your market – of course do what you need to stay afloat, but the ones that make it through this time will come out smelling like roses when this is done. As for us, we’ve got a new store on the way and some really exciting web projects that we’re working on, so stay tuned…
Tags: credit crisis > dow jones > gold > housing market > recession > stock market
Have You Driven a Ford Lately?
Posted on | February 21, 2009 | 2 Comments
I talked about Burger King doing it right in a previous blog post. They’ve been running some good viral campaigns lately like “Delete 10 Facebook Friends and Get a Free Whopper” and others. So they get the social media stuff. Now I just ran across Ford doing the same. Now, before I get started I will say for the record that Henry Ford was a blatent anti-semite and actually admired Hitler – I’m hoping his family has changed their ways, but who knows. Anyway, they’ve hired a guy named Scott Monty to head up Social Media at Ford Motors. Good move. I’m sure this guy knows what he’s doing (and I heard through a friend of mine that he’s a nice guy) and they’re on Twitter and are blogging, etc. So what does that tell you? It says that this Social Media stuff isn’t just a way to chat it up with your college buddies who you haven’t seen in 15 years. It’s the real deal. And people like to know that you are a REAL PERSON. Whether you’re a CEO or just an Average Joe. Take a look at this video on Fox news – so funny how the reporter says, “I have a Twitter thing” – like she has no idea – it’s all a big joke, but Fox News set her up with a “Twitter Thing” for a reason.
Happy Valentine’s Day!
Posted on | February 14, 2009 | No Comments
Happy Valentine’s Day to all. We had our usual last minute rush, but no biggie this year. I am hopefully headed up to NYC next week to do a little biz – and I might even come back with a good video for ya. For now, take a look at this Larry David video. It’s hysterical – cameo by Michael McKean, of Lavern and Shirley/Spinal Tap fame. Have I had this problem? If you know me, I think you can guess correctly…
We Are Moving, We Are Moving!
Posted on | February 9, 2009 | 1 Comment
“We are moving, we are moving” is one of my favorite lines from Trading Places. Well, we are moving our store across the street. Please check out our Flickr Page to see the progress. We are very excited about this change for our store and for the entire block. The corner we are on now is going to be redeveloped by Steve Samuelson and his partners, to make this a beautiful city block connecting University of Maryland and Centerpoint, which includes the famous Hippodrome Theatre. As for Samuelson’s Diamonds, sure we’re a little nervous to move, even if it’s just across the street, but this new store will be gorgeous. And it will give us a chance to show off our beautiful diamonds and jewelry, so please keep and eye out for the Grand Opening. I’ll keep you posted!
 Here I am in my future diamond viewing area. |
 Two foot thick door baby |
Tags: diamonds > hippodrome > hippodrome theater > Jewelry > trading places
Cash4Gold on the Super Bowl?
Posted on | January 31, 2009 | No Comments
Well, Cash4Gold is buying a Super Bowl ad. Let me let you in on a little secret. They are a scam! I’m not just saying this because they’re competition. Forget about the fact that they do not require ID and don’t report their items to the state (as you are required to do as a precious metals dealer).
Take a look at what a former employee says about them:
I am a former employee of Cash 4 Gold. I did not know much about the company before being hired. On my first day of being hired, I was taught the “Cash 4 Gold Scam” from beginning to end.
1. The “refiner’s pack” that is used for you to put your jewelry is “insured for UP TO 100 dollars, ” according to how much they feel your items are worth, NOT appraised at
2. We receive your “Refiner’s Pack” within 3-4 days, but we are instructed to tell you that it takes “7-10 business days, for us to receive your pack, ALTHOUGH your package has already arrived.
3.Your jewlery gets appraised by hand/magnifying glasses/
a small weight pad, and a bottle of mystery fluid, which your items are then give a value for. Not million dollar equipment or specially trained jewelry experts.
4. Although the payment (check) for your item is dated within 24 hrs of testing your jewelry, we sometimes DO NOT actually send out the check until up to 3-4 days later.
5. We claim a 100% Satisfaction Guarantee or your jewelry returned, BUT THE CATCH IS, that the guarantee is contacting us within 10 DAYS from when your check is DATED. (This begins with the time it takes for the accounts payables dept. to issue the check and also including the transit time for you to receive your check in the mail. **** NOTATE THE COMMERCIALS THAT STATE U GET YOUR CHECK IN 24 HRS.***
5. IF you are lucky you will receive your check around the “7th-10th” bus iness day, AND more then 97% of the time Customers are outraged when they lay eyes on the amount of the check. Some Customer’s even receive a check for 0.01 cents. (TRUTH) Thats including items of great value (Diamonds, Platinum/ Gold and Sterling)
6. They sometimes even receive your valuables and like them so much THAT we CLAIM to not have received the items just so the “TOP” people or even “FAVORED” people can get first dibs on your items. From which point we issued an INSURANCE CLAIM for UP TO 100 dollars. GOD FORBID your items are worth more then a 100 dollars, and when you call in to check on the status of your items, we tell you ” YOU SHOULD”VE ADDED EXTRA INSURANCE ON YOUR ITEMS.” We do not have an actual Insurance company, they use customer service reps as the claim department agents.
7. For those who receive there check within the 10 day frame, GOOD LUCK with trying to get in touch with a cust. srvc. rep before your 10 days are up. Which after your 10 days, your items are “ALREADY MELTED” or NO LONGER AVAILABLE FOR RETURN.”
8. For the “LUCKY” people who do get in touch with us within the alloted time frame, we already know what you are calling about. Customers want their items returned, because there
check amount is so insultingly LOW. The first thing a Rep will ask you is “HOW MUCH WERE YOU EXPECTING TO GET BACK?” This way we can know how much to “BONUS” you.
Definition of a BONUS: We issue low checks just to have you call us back if you are smart enough to realized that you just got scammed. For the smart one’s we are paid to offer u a bonus up to 3x the original amount of your check and you accept. For ex: Sally Smith receives a check for $27.86 for a rolex watch(which we dont issue value for), a class ring, a ring with diamond chips, a pair of earrings with emeralds, as well as a few sterling silver pieces, and maybe a few items that were really of no value. Now Sally Smith calls the cust srvc dept, where she speaks to a rep who seems so concerned and will see if she can do better with the amount by speaking to a “SUPERVISOR”. We then place the caller on Mute, and speak to our neighbors or doodle on a sheet, or twiddle with our hair for about 45 seconds, while we are supposedly speaking to our supervisor about Ms. Smith’s complaint. We then come back with an offer to “BUMP UP YOUR MELT DATE or any other lies the cust srvc reps can think of, and offer you a total amount of $53.20 which is a little under double the amount of your original check. In which case if you accept, the cust srvc rep makes a 15.00 bonus off of your transaction. If the cust srvc rep offers you under triple the amount of your orig check, she makes 10.oo in bonuses.
9. If you accept the offer, the deal is done, and you are told that the call is recorded(which most of the time, the record button does not work.)Just a way to make your feel binded by a verbal contract. IF you do not accept the deal, you have to return your check, and it takes sometimes up to a month to receive your items back after we receive the check.
10. If you only want the items that we do not find of any value back, you have to pay a 10.00 shipping and handling fee to have your own items returned, which varies depending on sales for that week. IF sales are good, there is no fee, when we are slow, you must pay.
Cash 4 Gold is definitely not a trustworthy or credible company to do business with. You are almost better off taking your items to a local pawnshop or shopping around for other companies. With the economony the way it is, Cash 4 Gold seems to be a way out of financial stress for some, but in actuality becomes a stress of its own. I would advice you to think twice before sending in valuables or items inherited and of sentimental value. Its not worth it. I am not doing this as a way of Bashing their money making process 🙂 but more so to warn everyone.
You want more? They tried to bribe a blogger to take his negative article down (to the tune of $3,000) and even had the CHUTZPAH to ask if they could donate to his favorite charity.
Rob,
I work with Cash4Gold on the reputation management. Your article is ranking #3 on their brand term. They would really like to make it worth your while to take it down or make it more positive. They did something similar by joining (OTHER CONSUMER AFFAIRS WEBSITE)’s advocacy program. Is it worth a few thousand to take it down? If not, maybe a donation to your favorite charity is more to your liking?Feel free to call me anytime to discuss further.
Thanks,
Joe Laratro
President
Tandem Interactive – Trendy Online Marketing Solutions
Hollywood, FL 33020
Click here for the full article.
Now, Samuelson’s Diamonds buys gold. And we’re in the business of making a profit. And we try to make the best buys that we can. However, we’ve never lied to a customer about what karat content they brought us, and in the 87 years we’ve been in business we’ve never kept anyone’s merchandise or held back their money.
So when you’re sitting back watching the Super Bowl and you see MC Hammer wanting to melt his gold records (cause he ran out of money) and Ed McMahon talking about melting his gold toilet, remember to take your gold to your local jewelry store and don’t send it anywhere!
Tags: cash4gold > cashforgold > ed mcmahon > gold > jewelry store > mc hammer > melt gold > pawnshop > sell gold > super bowl > super bowl ads
The Important Things in Life
Posted on | January 28, 2009 | 2 Comments
I just lost a buddy of mine and it makes me think about the stuff my grandparents always used to say. Back when I was younger, they would always say stuff like, “If you got health, you got wealth” and “As long as you have your health” and other lessons that Jewish grandparents tell you over and over again. Back then of course I always just thought that’s what old people say and shrugged it off. Well, it’s true. Business, money, blogs, facebook, twitter and all the noise that’s out there doesn’t mean anything. Friends and family are the most important.
Speaking of good friends my friend Missy has a great blog – doyouloveit.com. Check it out if you love Cherry Coke Zero, Ben and Jerry’s, and other cool stuff like I do. I’m gonna link her up more often.
That’s it for now. I leave you with a great tune for my friend who I will miss:
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