3 Considerations When Overhauling Your Jewelry Marketing Approach
Published on: March 2, 2020
Last updated: October 27, 2020
- READ MORE: 5 Jewelry Retail Trends to Watch This Year
- 3 Considerations When Overhauling Your Jewelry Marketing Approach
- 1. Are you creating a 365-day connection with your customers?
- READ MORE: Key Dates Every Jeweler Should Know for 2020
- 2. Are you talking to the right customer group?
- READ MORE: How to Sell Jewelry to Younger Consumer Groups
- 3. How inclusive is your jewelry marketing?
- READ MORE: 5 Jewelry Marketing Tips to Boost Your Sales
- Are you ready to update your jewelry marketing approach?
Jewelry marketing is a perpetual motion. The market is changing at an alarming speed, and if you’re stuck in a rut, there’s a chance that your glitter has faded, and your customers would soon fade as well as they get drawn towards the light also known as your rival brand.
Some businesses view marketing more as an expense than an investment, but the truth of the matter is that, given the right marketing strategy, it doesn’t cost you money; it makes money. For example, if you spend $300 on social media ads and you’re able to convert successfully, you could get a hundred per cent or more return on your investment. In the initial stage, you must let go of your cash for a bigger return in the future.
As in any other investments, there are no guaranteed risk-free marketing initiatives but you can lower the risk and increase the chances of return. One thing is for sure, if your marketing approach is outdated, it would no longer resonate with your target customers, so you have to continuously innovate and change.
In this post, we’re going to give you three key considerations when updating your jewelry marketing approach to suit your customers changing needs.
Read on and keep your mind’s eye open!
READ MORE: 5 Jewelry Retail Trends to Watch This Year
3 Considerations When Overhauling Your Jewelry Marketing Approach
1. Are you creating a 365-day connection with your customers?
Jewelry is an emotional sale. It’s loaded with meaning and its value lies in its emotional worth. Customers buy for different reasons, but it is their beliefs, values, and feelings that significantly influence those reasons. If your marketing strategy can connect their hearts to their purchases, then it’s a done deal and you can recreate it 365 days a year.
Some jewelers heavily concentrate on general celebrations like Christmas, New Year, Mother’s Day and the like while they ease their focus on other days believing that jewelry sales are seasonal. Relying on seasons for the majority of your sales results in an unhealthy business, but why resort to this if you can flip over the situation and have a year-round turnover of goods?
The key here is to influence customers’ buying behavior using emotional triggers. Given that jewelry naturally requires emotional selling, with the right jewelry marketing strategy, it should not be difficult to tinker with customers’ emotion. Think of it this way, your customers have birthdays, anniversaries, and other special occasions every day of the year. It is during these times that emotions and feelings are high, so awaken their level of emotional awareness 365 days a year.
Another key here is consistent engagement online and offline. Tell them the story behind your brand, get to know and broadcast the success of your customers, and feature them on your social media platforms. Customers are used to seeing paid personalities to promote brands and products, so engaging with them in this level of personal connection will be interpreted as sincere and genuine.
Whatever your jewelry marketing strategy is, don’t go cold and silent on your customers. This year, connection will be more important than it has ever been, and the brand that is more connected with its customers wins.
READ MORE: Key Dates Every Jeweler Should Know for 2020
2. Are you talking to the right customer group?
How distinctive is your message?
Finding the right messaging for your brand is crucial but it is also one of the most challenging. If you’re marketing to different customer groups, your ads must resonate with each of them without confusion, especially if you’re a multi-brand. The key to getting your message right is by knowing and creating a buyer persona.
Start by answering each question:
- Who are you connecting with?
- What are you offering to them?
- Why should they care about what you’re offering to them?
Creating a buyer persona requires thorough internal and external research. You can start by looking for trends among your existing customers and finding out how those customers are finding your jewelry products. Are they engaging more with your jewelry photos and videos on Instagram or with stories you post on Facebook? This strategy does not only help you create the right message for the right customer group. It also tells your marketing team the type of content that brings you the most engagement.
The end result of your research must give you a detailed buyer persona that includes your customers’ age, gender, income, goals, aspirations, values and beliefs, and interests among many others. Through this, you must be able to create a marketing message that resonates perfectly with the right group. For instance, if your research tells you that you have more younger customers, your marketing ads must be updated and modern to match their taste. If you have more female self-purchasers, the traditional concept of jewelry marketing might not work as much, so tinkering with the idea of independent women in your marketing ads would be worth the risks to encourage and appeal more to female self-purchasers.
However you wish to approach this, remember that your marketing message must talk to the right receiver or you’ll miss the opportunity to relate to them. Without connection, the conversion is impossible.
3. How inclusive is your jewelry marketing?
Are you a global brand? Did you discover from your research (see previous consideration) that you have more customers from other countries than you expected?
If so, diverse customers require diverse and inclusive marketing approach.
Signet is a good example of embracing diversity and inclusivity in jewelry marketing. While a little later than other jewelry brands, Signet’s first Spanish-Language jewelry advertising is a sign that jewelry brands are beginning to acknowledge its long-neglected customers and grabbing any opportunities that would make them fulfil the growth they are all yearning for.
And why not?
In 2015, the MVI Marketing found that 79.3% of Hispanic customers in the USA will purchase at least one fine jewelry in the next 12 months. So, while the effort is considered belated, it’s better late than never, so they say. As such, consistent and regular customer analysis is imperative to ensure that everything about the brand resonates with the customers and none of them is excluded. An exclusion of customers equates to missed or under-utilized opportunities.
If creating jewelry advertising in different languages is costly for you, there’s another way to communicate your brand the best without getting customers lost in translation – transcreation. Transcreation is the key to globalizing and localizing your jewelry marketing successfully. It’s a process of adapting one marketing message in their original language to another without losing its style, intent, tone, and context. Hiring a skilled translator or working with translation services will help you translate your messages into another language without losing its meaning and at the same time, make them reflect the lifestyle, tastes, and habits of your target audience wherever they are in the world.
READ MORE: 5 Jewelry Marketing Tips to Boost Your Sales
Are you ready to update your jewelry marketing approach?
Jewelry marketing is an investment in your brand’s future. Your customers change and like them, it needs attention. Your jewelry marketing strategy thrives on constant fresh ideas; otherwise, you’ll get stuck and you will lose the competition. Don’t be the brand that has to exit the market because you cannot adapt. Always be dynamic, agile, and data-driven.
What other factors do you consider before adjusting your jewelry marketing approach? Let us know in the comment section!