5 Predictions for 2021 Jewelry Marketing Trends
After a rather abysmal, confusing, and challenging year, most jewelry business owners have high hopes for 2021. They’re starting the new year with bright eyes and a renewed commitment to their digital marketing strategies.
What can we expect from the coming year? Where should you be investing your marketing dollars, and how should you be redistributing your budget? Based on industry trends and our own experience, we’ve put together a list of five jewelry marketing predictions for 2021.
A return to the old school
During the 2020 holiday season, we noticed that many brands – both big and small – were investing less money in digital marketing and more in traditional direct-mail marketing. These brands would cull a list of their top customers and send them a personalized postcard, a print catalog, or some other form of print collateral.
Print marketing materials can potentially be more expensive to produce than digital marketing campaigns, but well-designed print collateral is sure to make a major impression on customers who already know and trust your brand. According to stats from the USPS, 60% of direct mail recipients visit the website after looking at the piece of mail. How does that compare to email? With an email marketing campaign, you should be happy if you get a 25% open rate!
More brand partnerships
There’s strength in numbers! I believe that, in 2021, more jewelry brands will be partnering with other brands (not necessarily jewelry brands) to engage in cross promotions and giveaways. When a jewelry brand is able to find the right partnership with another brand, one that captures the right audience, the results can be dramatic and rapid! Brand partnerships can help increase brand awareness, add value, and allow one or more brands to penetrate new markets.
Social media algorithms are getting more complex and challenging to navigate on a daily basis, and the competition just keeps getting more and more fierce. However, the right partnership can give you an advantage over a jewelry brand that’s trying to do everything on its own.
More investment in content marketing
Many direct-to-consumer jewelry brands invest the majority of their budget and efforts in paid/organic social and email marketing. However, when all your competitors are investing in the same marketing channels, it can be difficult for you to distinguish your brand and your products.
Blogging may seem like an “old school” concept, but it’s a great way to start adding value and building an audience. Imagine: what if you could create a platform that attracts and holds the interest of your target customers? Publish a mini digital magazine that helps showcase not only your products but also the entire lifestyle you’re trying to sell. Or launch a podcast or YouTube channel.
I recently received an email announcement from Alex Monroe Jewellery that the brand will be launching a podcast this year titled “ This Is A Token with Alex Monroe”. According to the description of the podcast, it will “celebrate the magic of jewellery and the stories behind some very special pieces.” I love this idea! Distinguish yourself by offering substance, and your customers will appreciate a break from your constant sales pitch.
Brands will become even more “human”
2020 asked a lot from brands; they had to take a stand on social issues, be transparent with customers about changes related to COVID and the sociopolitical climate. They also had to pivot in an effort to adapt to all our new “normals”.
As a result, consumers now expect more from brands. They know that interacting with a brand is as easy as sending a DM or writing a message in a live chat box, so they expect brands to be fully present, always “on”, and very human in their interactions. Transparency in marketing will continue to matter, and jewelry brands that only distinguish themselves by their pretty things will need to start developing and sharing an ethos that penetrates beyond the superficial.
More listening
2020 disrupted the world so much that consumer behavior and expectations have shifted significantly. As a jewelry brand, do you even know what your customers want anymore? You may know the products they like, but do you know how they like to be treated and the communications they prefer?
As the world continues to shift and change, brands will need to turn their attention to listening to the consumer. As a jewelry brand, you need to throw all your preconceived notions out the window and be willing to make the customer your “boss” and the expert. Let customer feedback and data guide your decisions, and you’ll continue to earn loyal customers for life.
Now that you’ve seen our predictions, what do you think the new year will bring? What are you looking forward to trying, and how will you be adjusting your approach to marketing?
Links mentioned at the beginning of this episode:
“Attributing Sales to Email Marketing Is Not Always Easy“