A clear marketing strategy can help you understand your customers better and recognize your competitors and will also help you plan promotional campaigns directed towards your target audience.
A retailer in the current jewellery industry or a family-owned business with a rich legacy- traditional advertising methods might not cut it anymore when it comes to getting more business, especially in the digital landscape. To really shine, you need to rethink and upgrade your marketing and branding efforts.
Online and onward
Word-of-mouth from a loyal customer base, seasonal promotions and playing up a legacy brand’s story are all great, but to survive and thrive in this industry in the digital age is a whole other ball game. Two words- Social. Media. Your online followers and fans are your new age word-of-mouth and your biggest advocates. When it comes to buying, consumers now rely on what their friends recommend on social platforms like Facebook and Twitter and the mother of all – Instagram. Posting photos of pieces that their friends and peers are actually, buying and loving is the biggest endorsement of your brand- a habit that brands like Elle caught on to pretty early on. Set up social media accounts for your brand if you haven’t already and make sure you are keeping your followers engaged with contests, discounts and flash sales. “Globalization has changed everything. People are travelling more and spending differently. Owning that special statement piece is no longer the priority. With their huge spending power and changing tastes, customers now want to match their jewellery with their clothes and shoes. They want a new look, almost every single day. That’s why it’s so important to keep your customers interested and one way of doing that is to be active online, especially on your social platforms,” says Lilie Ford, President, Canadian Jewellery Expos.
According to a recent McKinsey survey, two-thirds of luxury shoppers admitted that they indulge in intensive online research before going for an in-store purchase; one- to two-thirds said that they frequently look up social media for information and advice.
Think about brand building
Whether you are an independant jeweller, a brick and mortar or a known jeweller like Libar, known for their beautiful advertising on their site, your goal is to have customers buy from you and keep coming to you whenever they want to make a purchase, big or small. Nobody wants a one-time buyer. Maintaining a solid and ongoing relation with your customer base can be achieved by executing a robust content marketing strategy. Your website needs to host content that is not just a sales pitch to your customers but also provides authentic and relevant information related to your product. From jewelry care to researched background about the product, (lab diamonds vs diamond simulants- what’s a better buy?), customers love knowing the origins of what they are spending their money on. Gradually, your customer will begin to associate your brand or product with values like authenticity, quality and customer care which will ultimately drive more sales.
Both consumer behavior and the market are in a state of transition- not embracing the digital onslaught will only hold you back.
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