On the latest episode of the Rapaport Diamond Podcast, jewelry consultant Megan Crabtree discusses ways to improve sales and the customer experience, from data to artificial intelligence (AI).
For example, sending customized mailouts based on what clients have bought in the past can generate unusually high returns, Crabtree told Rapaport’s Joshua Freedman.
“Marketing is as successful as the time period that it takes for you to plan it,” she said.
Jewelers can also feed purchase data and other business information into AI tools to help generate plans for improving sales, she added.
Crabtree, whose consulting company bears her name, outlined the current state of the market and gave her views on the debate over whether the natural-diamond industry should carry out negative marketing about lab-grown.
The episode, which the pair recorded on July 15, also addressed the issues of tariffs, gold prices, the upcoming holiday season, and what the jewelry industry can learn from Starbucks’s pricing strategy.
Listen to the podcast here:
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