Where do you think the future of jewelry marketing lies?
Wirstiuk: It lies in a business’s willingness to be quick to adapt to new technologies and rapidly changing consumer behavior and preferences. Too many jewelry brands are slow to experiment with new technologies, and when they finally do, it’s too late.
The opportunities today are in understanding how to leverage artificial intelligence (AI) in as many marketing activities as possible, with the goal of streamlining your processes and becoming more nimble. This is not the future; the time for jewelry marketing is now.
Are digital campaigns and email newsletters passé?
Wirstiuk: Email marketing has been one of the most effective forms of jewelry marketing for my clients over the past year, and I only see it becoming more valuable. Across the board, we’re leaning into growing email lists and sending regular communications to subscribers. What we invest into email marketing we get back in return — maybe not right away, but it does pay dividends.
What is the best way to reach current target customers with marketing?
Crabtree: The best way to market to current customers is through targeted campaigns based on each customer’s purchase history. Customizing each campaign to meet the interests of the customer is a great way to encourage repeat business and foster loyalty.
Incorporating elements based on their purchase history, such as specific colored stones or matching wedding bands, into campaigns can further increase the effectiveness of personalized marketing.
What’s the best way to acquire new customers with marketing?
Crabtree: The best way is marketing specifically to bridal customers to engage them at the beginning of the relationship. It’s recommended to target customers who buy gifts for their significant others at least a year prior to engagement rings. It’s important to offer an excellent customer experience, with affordable items under $500, to attract them to your store. It’s likely they’ll remember the positive experience and choose to buy their engagement rings from your store.
How should a company approach social media marketing for the first time, and which channels are best for that purpose?
Wirstiuk: Companies that are new to any social media platform should approach it with very realistic expectations, since growing an audience organically in 2023 is like pushing a boulder up a mountain. Organic engagement on platforms like Instagram is only declining, no matter how good your content is.
I honestly wouldn’t even recommend starting on Instagram or Facebook today. If you’re completely new to the social media game, I’d lean into Pinterest, because there are still opportunities to be discovered there.
Should companies opt for paid marketing, or is there enough they can do for themselves?
Wirstiuk: Paid marketing should only be considered when the business has a solid foundation of organic marketing — they’ve figured out a reliable method of customer acquisition, and they’ve nailed regular marketing communications like email. If we’re talking about an e-commerce brand, then the website should be rock-solid before that business invests in paid marketing.
That means product photography, product pages, website navigation, checkout processes and more need to be fully optimized. Once those things are in place, it could be a good idea to move to paid marketing, but I would not recommend trying to DIY this; hire an expert or risk wasting a lot of money making a lot of mistakes.
Are partnerships with other companies a good idea? If so, what types of businesses do you recommend as partners?
Wirstiuk: Yes, definitely! There are major opportunities in partnerships, since they can help expose you to new members of your target audience. Before you go into a partnership, you need to know your target audience inside and out and be sure your partner is reaching that same audience.
You also need to have a clear goal and guidelines for the partnership so both partners are on the same page. Some favorable partners for jewelry brands include businesses in luxury apparel, home goods, beauty, fitness, food — honestly, the sky’s the limit!
This article is from the May-June 2023 issue of Rapaport Magazine. View other articles here.
Image: From left: Laryssa Wirstiuk; Megan Crabtree. (Joy Joya; Crabtree Consulting)