By Ellen Fruchtman, President
If we have learned anything over the course of the last few years, it is our ability to pivot and look straight in the eye of adversity. Now it’s 2022. And, in some ways, the news is the same, and perhaps life in 2019 will never be achieved again. All that being said, the jewelry industry has had much to be thankful for. 2022 will be somewhat the same.
To keep that momentum going, will require, yes, a little luck, but mostly, some sound strategy. What can you do to ensure success? Here are a few items for the “to do" list:
Take a few marketing risks. What does that mean? Push the gas just a little. Increase your budget (within your comfort zone) so you can try new initiatives. Invest in your branding.
Get on board with video. Years ago, nothing beat television advertising for impact and awareness. The same is true today. Except now TV for 18-49 year-olds is called YouTube, which reaches more people in this age group than any cable TV network. This is not to say that you shouldn’t include some traditional TV in your marketing mix. It is to say that including both in your strategy is the way to go. According to Meta, aka Facebook, video posts receive 6x more engagement than a photo. More importantly, video provides an opportunity to put your company’s voice behind your brand. And, quite frankly, builds some level of loyalty and credibility - especially if you are the face behind your brand.
Create interesting content. Yes, content is king. How many times have you heard that? But bad content (unlike any PR is good PR) can hurt your brand. Think about the things your customers want to know. What they ask across the counter. How they want to see and view the product. Then take the time to create it! If that means hiring a professional to shoot the content, then so be it. If it takes roughing out some scripts and material, then do it. These are the marketing expectations today. To be perceived as the expert also means you have to present yourself in a way that is polished and yet authentic.
Stop selling. Marketing today is truly less about the actual product and more about what the customer needs or wants to feel. We have always known fine jewelry is an emotional purchase. It is not about price. It is not about specific features and benefits. Do they want to know the price? Yes. Do they want to know if it’s 18K gold or Platinum? Yes. But, bury those leads as they say in the world of journalism. Stop pushing “product” and focus on what your customer is looking for. How the diamond was cut; its origin; the story behind it; why it’s right for them as an example.
Start building relationships. That comes first! You will secure them as customers when the time is right. So, how do you build a relationship? Start by getting involved in things they are involved in. Start by supporting charities that are near and dear to them. Hold non-selling events. Endear yourself to the community. And, that’s not simply the owner’s job. It is everyone’s job who works at your business. They too are the face of your company.
Think of yourself as an educator, not a retailer. You pretty much sell the same stuff as the competitor down the street. So, why should they buy from you? Why do you select your service providers? You select them because of their expertise. With fine jewelry, it is the very same thing. To have uneducated staff is no longer an option. Make training an integral part of your business.
In marketing, set yourself up as the authority. Emails don’t always have to be about a product or trunk show. When a prospective customer goes to YouTube to search for the best way to clean their jewelry or the difference between lab-grown and natural diamonds, will you come up in that search? If you live in a smaller media market with a local station, have you pitched them to provide an interesting segment on a multitude of topics? Make 2022 the year of the do.
