People have been wearing jewelry for most of human history. It’s a way for people to show status, creativity, history, and even family lineage in some cases. When people adorn themselves with jewelry, they feel confident and empowered. All these reasons contribute to why the jewelry industry rakes in billions of dollars each year in the United States alone.
What separates the jewelry industry from many other industries is that each product is a piece of art. When you buy jewelry, you purchase a meticulously made reflection of a craftsman’s creativity and skill.
In some cases, jewelry can be an investment passed down throughout generations. It’s an industry worth being proud of, so you’ll want to ensure that your hard work is seen and appreciated as a jewelry seller.
The only way to ensure that your products reach your audience is through intelligent, strategic marketing. Let’s show you how to do this, as well as give you a few ideas that you can use to attract customers and boost sales.
Planning a Jewelry Marketing Strategy
Regardless of the industry, making a comprehensive plan is always valuable. It allows businesses to organize values, goals and make a legitimate roadmap to follow as they try to reach those goals. Without a plan, you’ll find yourself making decisions with less conviction because you won’t have the focus to take you where you want to be.
The benefits of a robust marketing strategy are plentiful, including the fact that it allows you to envision your audience, your product, pricing, and so much more. Here are a few important factors to consider if you want a thriving jewelry business.
Research, Research, Research
Performing quality market research will always provide the framework for a successful business. Research is necessary because it allows you to form a foundation and potentially troubleshoot problems before beginning and investing any money.
This research should focus on understanding trends, studying the competition and your audience, and finding pain points. Additionally, this is the point in the process where you should figure out what type of jewelry you’re planning to sell. View this as homework that must be completed before playing in the industry.
01
Identify your customer
Knowing who your customer is, what they like, and how they shop is essential to a successful business. One way to perform this research is by organizing your customers into groups. For instance, most industries have periods in which sales are up.
The jewelry industry is interesting because there’s no shortage of customers or events that drive sales. There’s Mother’s Day, Father’s Day, Christmas, Hanukkah, New Year’s, and Valentine’s Day within one year. Understanding this allows you to focus on these separate groups and adjust your marketing accordingly.
02
Study the competition
Before starting a new business venture, you must understand who you’re against. The jewelry industry has no shortage of vendors, which means plenty of competition and an increased urgency to answer the question, “what can I provide that they can’t?”
Additionally, as a person who may be new to the industry, studying the competition can give you a framework for how the industry functions. The competition can show you who shops for jewelry, which designer jewelers carry, and how they choose to market to their customers. Understanding these things may give you a rule book you can refer to while building until you’re situated and ready to pave your own path.
03
Demonstrate value
This industry has a bit of competition. Don’t be discouraged. Competition is natural. The question is, how are you going to compete with them? Competing effectively doesn’t have to be doing everything everyone else does but better.
It could be as simple and complicated as finding out what they aren’t doing and making that a prominent feature of your business. For instance, maybe your business has a wider selection, more unique items, or free cleanings. The goal is to stand out in any way you can.
04
Attack social media
There are many social media platforms available for businesses. It’s redundant to say it today, but social media is truly valuable to any business, regardless of size or status. Today’s customers often search for products on social media or directly shop for products from these apps.
Tackling social media can be a great way to get your brand out there, especially for a new business. However, remember that not all platforms are the same. Instagram, Twitter, Tik Tok, etc., have different audiences, which means adjusting your marketing strategy.
05
Be open to paid marketing
Although there are many great and free marketing options, there will inevitably come a moment where it proves beneficial to invest in more traditional marketing. Of course, free marketing is the best way to begin.
Still, as you grow, you may want to consider magazine, Tv, or radio advertisements simply because they put your business in contact with a larger demographic. Not everyone can be found on social media or through other free marketing strategies. That being said, for the best success, the best option will always be to implement a mix of traditional and non-traditional marketing.
06
Marketing Ideas to Increase Sales
Successful marketing strategies can be the difference between an abundance of sales and just barely breaking even. Whether you’re an entrepreneur new to the industry or a more established seller looking for new ideas, applying even a few of these ideas will prove beneficial to your business.
Growing Your Business With Successful Marketing
The jewelry industry is a great business since it’s been around forever and grosses a substantial amount of money every year, both in the United States and internationally. Whether you’re a new business or a more established one, applying the knowledge and strategies above will prove beneficial.
