Jewelry stores are seeing huge global demand – thanks to the internet. So offline jewelry stores are finding increasing challenges from virtual jewelry stores that are marketing to customers irrespective of country or location. So how can you promote your jewelry store amidst this global opportunity and get steadfast business results? And if you have been doing the standard online marketing stuff like social media advertising and working with influencers… think again. For your nearest competitor is using these standard jewelry marketing strategies. You must have a strategic new plan to reach new customers and yet not pay out of your nose on advertising.
This post is an extension of an earlier post on Signet Jewelrs’ online marketing. This was posted in October 4, 2012. So as I revisit this post and update it with new data, we shall see how jewelry marketing strategies have evolved over the past 8 to 9 years.
Example: Signet Jewelers’ Vs Others
Signet was one of the largest specialty retail jewelers in the United States when this post was published in 2012. And it had significant competitive strengths and key retail discipline. Then, top notch offline online jewelry marketing had started resulting in public “desire for affordable luxury” and consequent strong sales increase for Signet Jewelers.
Signet Jewelers feeds ‘affordable luxury’ demand making it ‘Buy of the Week’
October 2, 2012, 3:08 PM – marketwatch.com
It was interesting to know that Signet did not own the high-end jewelers but had name-brand stores like Jared, Kay and Rogers that appealed to a mid-level customer, where demand appeared to be holding up.
“The new environments offer sales enhancing in-store technology, including touchscreens that provide access to the H. Samuel website and tablets as a selling aide for the associates. You’re going to hear a lot more about that on the U.S. side as well in just a little while…” “For example, the merchandise range on both H. Samuel and Ernest Jones website has been expanded and the design of the Ernest Jones website has been refreshed. These upgrades reflect the positioning of H. Samuel and Ernest Jones as the top two jewelry websites in the U.K…”
Signet Jewelers’ CEO Source: blogs.marketwatch.com
Why Social Media Branding & Advertising for Jewelry Stores Isn’t Enough
Jewelry business is growing, moreover additional sales is coming from eCommerce. Many brands are displaying and selling ornaments online. People want to see social proof in the form of reviews, likes, shares and comments. Therefore, an effective social media marketing helps boost online sales.
Even online fashion stores are now selling jewelry and some are even customizing it! Not surprisingly, the retail market for online jewelry is going to boom. Digital branding is one of the important marketing tools not only for the big names like Allurez of United States, Tiffany & Co., The Zale Corporation, ebay Inc., The Goldenwest Diamond Corporation, Mikimoto of Japan, Zale Titan of India, Chow Tai Fook Jewellery Group Limited – Hong Kong, The Swatch Group AG (Switzerland), Shanghai Yuyuan Tourist Mart Co Ltd (China) and Cie Financiere Richemont SA (Switzerland) but also for local jewelers, online jewelry and fashion jewelry stores.
A competitive report on Owler listed top 10 competitors of Signet Jewelers – Tiffany, Chanel, Fossil, Louis Vuitton, Blue Nile, Hermes International S.A., Swarovski, Pandora, Guccio Gucci S.p.A. Analysis here of the Top 5 of the above…
| Brand Website | Search Engine Marketing | Social Media Marketing | Email Marketing Automation | Affiliate Marketing Sites |
|---|---|---|---|---|
| louisvuitton.com | 98% is SEO traffic | 23 Million++ fans & followers | 2.82 emails / week | Yes, multiple networks |
| gucci.com | 99% is SEO traffic | 19 Million++ fans & followers | 2.34 emails / week | Yes, multiple networks |
| hermes.com | 98% is SEO traffic | 3 Million++ fans & followers | 1.04 emails / week | Yes, multiple networks |
Source: Mailcharts.com, Spyfu.com, Unmetric.com
A Dazzling New Jewelry Marketing Idea For 2021 – For Standalone Jewelry Stores
So we see from above competitive analytics for Signet Jewelers, that the top sources of customers are search engines and social media networks. And this means your jewelry store must have an eCommerce enabled website that is optimized for search engines as well as social media and referral networks. Everybody knows that and best jewelers are already way ahead in the race. So what more?
Adding hundred new organic and independent customer traffic sources to your existing website. This will not only help drive your current website’s performance, but also build long term business results. The best part is, this new strategy is brought to you by Aidasinc’s unlimited free marketing platform.