What's New in The Jewelry Business — Marketing Trends
Before diving into the specifics of marketing strategies, let's examine the latest trends shaping the jewelry business in 2024.
Sustainability and Ethical Practices in the Jewelry Industry
Sustainability and ethical practices are gaining paramount importance in consumers' minds. Modern consumers are more inclined to support jewelry brands that embrace responsible sourcing, eco-friendly production, and fair trade practices. Incorporating sustainability in marketing messages can significantly enhance brand loyalty and customer engagement.
Consumers today are more informed and socially conscious. They are concerned about the environmental and social impacts of their purchases. Jewelry businesses can capitalize on this trend by transparently communicating their sustainable and ethical practices. Whether using recycled materials, supporting artisanal miners, or minimizing the carbon footprint, aligning your brand with sustainability can create a strong emotional connection with your target audience.
For example, Pandora's jewelry store has positioned itself as a pioneer in sustainable practices, committing to using only recycled silver and gold in its products by 2025.
Personalization and Customization of Jewelry Products
Personalization has emerged as a powerful trend in the jewelry industry. Consumers appreciate bespoke experiences and products that resonate with their unique style and preferences. Implementing personalization in marketing campaigns, allowing customers to design their pieces or showcase personalized collections, can increase customer satisfaction and sales.
Technology has made personalized jewelry more accessible. Jewelry businesses can offer online tools that allow customers to customize their pieces, choose gemstones, engrave names, or select specific designs. My Name Necklace jewelry store is a great example. It offers a range of personalized products, allowing customers to create unique pieces with their names or initials. Tailoring your marketing messages to highlight this feature can attract a segment of the market seeking unique and personalized products.
Augmented Reality (AR) and Virtual Try-On
AR and virtual try-on technologies have gained traction, allowing customers to virtually try on products before purchasing. This trend offers an immersive shopping experience, boosting customer confidence and reducing the likelihood of returns by 64%, according to statistics. Besides, 61% of shoppers surveyed by Accenture said they would rather shop from a brand offering an AR experience.
Virtual try-ons can bridge the gap between the online and offline shopping experience. Jewelry businesses can provide this feature on their websites or mobile apps, enabling customers to try items and see how they complement their style. This boosts confidence in making a purchase and enhances customer satisfaction.
Jewelry Marketing in 2024
Now, let's delve into the core components of an effective jewelry marketing strategy for 2024, which can help you boost jewelry sales.
Virtual Try-On for the Jewelry Industry
According to Shopify, the introduction of virtual products and an opportunity to try them before purchasing boosts the conversion rates by 250%. Virtual try-on technologies provide an immersive shopping experience. With TINT, you can allow customers to virtually try on various jewelry pieces, boosting their confidence in making a purchase, decreasing the refund rates by 80%, and increasing engagement by 200%.
TINT from Banuba is easy and fast to launch on any platform. Its precise tracking technology and true-to-life product representation make the result indistinguishable from a real-life experience.
With Jewelry Virtual Try On from TINT, customers can try any piece — from earrings and necklaces to rings and watches. Real-time hand tracking allows reviewing the product from various angles without glitches and quality loss.
Tips for leveraging virtual try on for jewelry marketing:
- Like&Share: Offer your potential customers sharing their looks with the jewelry and give them a discount for posting their content on any of the social media platforms using the required hashtag. This will provide you with tons of UGC you can then use for ad purposes.
- Stain Sustainable: The virtual try-on feature can help a jewelry brand eliminate the usage of printed marketing materials and promo boxes.
- Email New Pieces: With a virtual try-on, you can email your new jewelry collection to try on in the comfort of your clients' houses even before they have hit the shelves.
What makes the TINT platform and its usage unique is that it's a universal instrument to use in promoting products on social media channels or other sources online.
Social Media Marketing
The Covid-19 pandemic made selling jewelry online tough, reducing the e-commerce worth. However, the jewelry business on the web continues to prosper and is expected to reach almost $40 billion in annual revenue.
Social media platforms are key players in jewelry marketing. Let's review their peculiarities for the most inspiring jewelry marketing idea to strike.
Instagram — A Powerhouse for Jewelry Advertising
Instagram continues to dominate jewelry marketing due to its highly visual nature. According to recent data, 81% of users use Instagram to research products and services. Furthermore, 75% of Instagram users take action, such as visiting a website, after looking at an Instagram advertising post.
Leverage Instagram for jewelry marketing by showcasing high-quality photos and videos of your pieces, using relevant hashtags, collaborating with influencers, and engaging with your audience through interactive stories and posts.
Tips for jewelry brands on Instagram:
- High-Quality Visuals: Invest in high-quality jewelry photography to showcase the beauty of your pieces.
- Storytelling: Use the platform to tell the story behind each piece, creating an emotional connection with your audience.
- Collaborations: Partner with social media influencers to reach a broader audience and gain credibility for the jewelry brand.
- Hashtags: Use relevant and trending hashtags to increase the discoverability of your posts.
- User-generated Content: If you want jewelry advertising ideas, try picking up UGC for your ads. According to statistics, consumer-generated content influences the purchasing decisions of 79% of people, compared to 8% of those who see content from celebrities and influencers.
Facebook — Targeted Advertising for a Jewelry Brand
Facebook remains a key player in the social media marketing landscape, with three billion active monthly users. Utilize Facebook's advertising capabilities to target specific demographics interested in items, especially since its average CTR is 0.89%. Incorporate engaging visuals, compelling ad copy, and a clear call to action to maximize results.
Unfortunately, the organic reach rate on Facebook is steadily low, reaching only 4.3%. However, we've prepared some tips for you to leverage Facebook ads to the max:
- Targeted Advertising: Use Facebook's advanced targeting options to reach your target audience based on demographics, interests, and behaviors. You can also use the metrics from your Facebook business page to reach more tailored results.
- Visual Content: Share visually appealing images and videos of your jewelry products to capture attention.
- Customer Testimonials: Showcase satisfied customers and their experiences with your products, adding credibility to your brand.
- Promotions and Offers: Advertise special promotions or discounts to attract more customers.
Pinterest — Lifestyle and Boards
Pinterest is a visual discovery and bookmarking platform, making it ideal for showcasing product designs and trends with over 463 million monthly active users. According to Pinterest research, it helps 80% of people discover new jewelry pieces and brands. Use Pinterest to create themed boards, infographics, and DIY ideas to engage your audience. Besides, the platform offers its ads manager to promote content.
Tips for a jewelry business on Pinterest:
- Create Inspiring Boards: Curate boards that inspire and showcase different themes and styles of the items.
- Infographics: Design infographics related to care, trends, or history to educate your audience.
- Rich Pins: Use Rich Pins to provide more information about your products, including prices and availability.
- Stick to Lifestyle: Users come to Pinterest for inspiration. Forget about polished photos made in the studio lights. Work more on lifestyle pictures to attract more Pinners and demonstrate how your jewelry will fit in daily life.
TikTok — Engage the Younger Demographics
TikTok, with its over 1 billion active monthly users, is one of the rapidly developing ads and marketing-purpose platforms for any jewelry brand. It's perfect for creating engaging, short-form videos showcasing products, trends, and behind-the-scenes content to captivate the audience.
Jewelry promotion ideas on TikTok:
- Engaging Content: Create visually appealing and engaging short videos that showcase the uniqueness of your items. One of the most trending directions is the unboxing of products, comprising over 45 billion hashtags.
- Challenges and Trends: Participate in popular challenges or trends on the platform, incorporating your products creatively.
- Collaborate with Creators: Partner with popular TikTok creators to reach a broader and younger audience.
- Educational Videos: Share educational videos about gemstones or the art of jewelry-making to inform and engage your audience.
Jewelry Advertising Ideas — Ad at Every Funnel Step
To maximize your advertising impact, tailor your ads for each customer journey stage — awareness, interest, desire, action, and loyalty. According to McKinsey, personalized ads and marketing can cut the CAC by 50% and increase the revenue by 15%.
Create captivating and informative ads that resonate with potential customers at different buying journeys. You can try A/B testing to identify which format of marketing materials works best for your jewelry brand at each stage.
Email marketing remains a potent tool for nurturing leads and retaining customers. According to research, it has an average return on investment (ROI) of $42 for every $1 spent, making it one of the most effective marketing channels.
Craft personalized, visually appealing emails showcasing a new jewelry collection through virtual try-ons, limited-time offers, and informative content to engage your audience.
Tips for effective jewelry email marketing:
- Personalize: Calling your customer by name is long dead. Stick to a data-driven approach to address the pains and loves of your clients. Send them personalized offers and try to learn more about their preferences.
- Make It Engaging: Turn informative letters into a converting shopping experience. With the help of a simple quiz, offer your audience to find the best fitting jewelry just for them (personalize, remember?). Wrap it all up with the virtual try-on, and you are good to go.
Offline Advertising Campaigns
While online marketing is crucial, don't overlook the power of offline advertising. Consider collaborating with local jewelry shows, events, or magazines to showcase your products to a broader audience.
Installing a photo booth at malls, events, public spaces, your jewelry store, and exhibitions with a virtual try-on feature is a win-win decision to promote your jewelry business. It's yet another touchpoint in your funnel and customer journey.
In addition to boosting engagement and brand awareness, you can leverage the content created and posted online by the booth users.
In theory, installing a booth with the possibility to try on and order the loved items online can replace an old-fashioned brick-and-mortar store. It's an excellent idea for small business owners to save money on renting and recruitment.
The influencer market is worth over $16 billion. You have to find the right influencers whose followers align with your target market and showcase your products through authentic and engaging content.
Tips for successful jewelry advertising strategy with social media influencers:
- Authenticity: Choose influencers who align with your brand and resonate with your products.
- Micro-Influencers: Consider working with micro-influencers with a smaller but highly engaged following within the jewelry niche. According to stats, they bring up to 60% more engagement than celebrities and macro influencers.
- Creative Collaborations: Encourage influencers to create diverse and creative content showcasing different ways to style and wear your jewelry pieces. The virtual try-on can help advertise the new jewelry collections and save on promo materials, allowing potential customers to try on the items they like on the influencer they follow on social media.
Content Marketing, SEO, and PPC
These fellows are inseparable when it comes to marketing efforts.
Create compelling and informative content related to jewelry, such as styling tips, maintenance guides, and trend reports. Position your brand as an authority in the industry and engage your audience with valuable information.
Don't rely solely on text; pay special attention to video content to publish on social media pages. According to research, 96% of consumers prefer to learn more about a product from videos, not articles. Video format also has the highest CTR among online advertising, 1.84%.
Search engine optimization comes in handy both for video and textual content. Search engines are still the first touchpoints when users want to find something, with 85% of people using them to find local stores or service providers. You always head straight to Google. However, there are other search engines.
Yelp, among other jewelry marketing ideas. It is one of the business directory listings where you can leverage PPC to attract new customers. It will bring results faster than SEO.
Nowadays, a physical shop doesn't guarantee success. Whether you produce handmade jewelry or sell engagement rings, an online jewelry store is enough for a start. However, it will be challenging to stand the hit without a thorough marketing strategy and a reliable tech partner to advance with the latest tech trends.