10 Things Marketing Can and Can’t Do for Your Jewelry BrandLaryssa
Unfortunately, too many jewelry business owners have unrealistic expectations about what marketing can achieve, especially on a short timeline. They hope that the right marketing initiative will be able to solve long-standing problems by doing things like erasing years of poor customer service, adding sparkle to a lackluster product assortment, putting a bandaid on a flawed business model, and more.
However, marketing does have its limitations, and in order to demonstrate favorable results, it needs to harmoniously work hand-in-hand with all other business processes. In this blog post, we’d like to share some things that marketing can and can’t do for jewelry brands. Once you understand the opportunities and constraints, then you can use marketing more effectively, in a thoughtful and strategic way.
What Marketing Can Do
Marketing can introduce you to the marketplace. Are you debuting your jewelry brand to the consumer? Are you releasing new products or collections? Marketing can help you introduce yourself to the people who should know about you. In this way, you can think of marketing as a debutante ball: your brand is ready for its big debut, and you’re dressing it up in a fancy gown and introducing it to society.
Marketing can get your jewelry brand in front of new customers. At some point in time, you may realize that you want to penetrate new markets. Would you like to reach a global audience? Would you like to target a new age demographic? Marketing can help you reach those new customers.
Marketing can get your jewelry brand in front of customers the moment it matters, like when you’re running a promotion or releasing a new product or collection. In some instances, you may feel it’s even more important than usual to communicate with your customers. For example, if you’re running a promotion, releasing new products, or hosting an event, then you’ll definitely want to send a time-sensitive message to the right people.
Marketing can help you build relationships and trust with prospective and existing customers. According to research from Edelman, trust drives brand loyalty: 82% of respondents say they will continue to buy from a brand they trust, even if another brand suddenly becomes more popular. Once you earn a consumer’s trust, you’re more likely to have them as a life-long customer. Marketing can help you build and nurture that trust.
Marketing can help you portray your jewelry brand in the best way possible. You already think that your jewelry is awesome and that people should buy it. However, sometimes the awesomeness of your jewelry can be difficult to communicate, especially if the consumer is not able to view it in person or try it on. Marketing can help you portray your jewelry in the best light and support how your designs tie into your brand story.
What Marketing Can’t Do
Marketing can’t make any customer buy from you. Wouldn’t it be nice if marketing could be the little voice in the customer’s head that tells her, “Buy!” However, that’s simply not what marketing does. We understand the frustration you may feel when you’re not selling anything, but marketing isn’t and will never be a quick fix. Customers will do what they want.
Marketing can’t make you an overnight success. A marketing strategy takes time to develop and execute. In addition, with some marketing strategies, you won’t begin reaping the results until months or years after you implement the marketing strategy. According to John Jantsch from Duct Tape Marketing, “Done properly, it is likely going to take six months to a year for you to see the kind of long term momentum that you want. The kind of momentum that has people talking about you and commenting that they see you everywhere. Marketing is a living and evolving system. Marketing can’t improve broken sales processes.” Buckle up – because it’s going to be a while.
Marketing can’t make an undesirable product seem more appealing. If no one likes your product, then no amount of marketing will make people want to buy it. Of course, marketing is a great way to test whether one target customer is drawn to your product. You can quickly pivot and test a new target customer if the original one proves to be a less-than-ideal fit. However, marketing can’t change a lame product.
Marketing can’t fix unattractive price points. Are you stuck at a specific price point and wondering why people aren’t buying? Marketing can potentially get you in front of the people who will be willing to spend the money you’re asking them to spend, but it won’t fix a price point that doesn’t appeal to anyone. Instead, you’ll have to go back to product development and make a product at a different price point or reconsider your pricing altogether.
Marketing can’t make up for a lack of business strategy. If you’re lacking a solid business strategy, then marketing won’t be able to patch the mistakes and missing pieces.
In summary, marketing must work in harmony with all the moving parts of your jewelry business – sales, customer service, product design and development, and more. It can’t replace any of these moving parts, and it can’t carry the weight of something else that isn’t working.