Jewelry Marketing “Vampires” Drain Time and Money
[vc_row][vc_column][vc_column_text]In celebration of the Halloween holiday, I’m shocking you with something spooky: the worst jewelry marketing vampires of all. They drain you of all your time and money, even when you think you’re doing all the right things with your marketing. These vampires can eventually make you lose faith in marketing, so you think twice before trying new marketing initiatives in the future.
Once you’re aware of these vampires and know how to identify their energy-sucking power, you can take steps to avoid them and use your marketing budget and your time more efficiently. You won’t need garlic or a wooden stake, but you will need a vision and a plan. You’ll also need the confidence and fortitude to stand up to them as you face all the challenges associated with growing your jewelry business.
Vampire #1: Unplanned marketing decisions
According to a 2019 study from Outbound Engine, 50% of small business owners don’t have a marketing plan, and 25% of respondents are unsure of how they plan to grow their businesses. As a result, these business owners are making marketing decisions by the light of the full moon. When you make marketing decisions in a rash way, you’re likely not connecting your decision to a plan or overarching strategy. As a result, any success you derive from your efforts will be lucky, not earned. Even if you don’t have a significant marketing budget, you should still have a 6-month plan that describes how you’re going to invest that budget and what you hope to achieve with your investment.
Vampire #2: Indecision
A state of indecision is almost as scary as the impulse to make decisions without a strategy or plan. Indecision stems from fear or worry that a marketing plan might not work or that it’s stretching the budget too far. I’ve seen many jewelry business owners remain stagnant because they’re not sure that their next step is the right one. However, in the midst of their indecision, they morph into creepy corpses, never evolving. You won’t learn anything about your customers, your business, and your brand if you don’t take the next step, even if you have to walk slowly like a mummy. You might make mistakes, but you can always learn something new and then course-correct for the future.
Vampire #3: The “Hail Mary” marketing move
Vampires are repelled by some religious symbols, but your “Hail Mary” – or any last-ditch effort to make something positive happen for your business – isn’t going to save you from their bite. A “Hail Mary” is usually a decision that’s made out of desperation. If your business is doing poorly, but you haven’t had the time to remain consistent with your marketing, you may decide to execute a grand gesture – like spend thousands of dollars on Facebook advertising as an all-in effort to boost customer acquisition. However, marketing is definitely a long game, and your Hail Mary’s aren’t going to help your business regain its footing in the marketplace after a period of neglect.
Vampire #4: Fickleness
For many brands, evolution is common and a natural process; as you learn more about your own brand, your unique value proposition, and your customers, you will grow and evolve to step into your brand identity. If you keep striving to keep evolving, then you have an advantage over vampires, since they remain the same over the course of their eternal lives. However, you must remember that fickleness is not the same as evolution. Fickle jewelry business owners are the ones who can’t seem to feel confident about any marketing decision they make, so they’re constantly changing their minds and throwing stakes at their vampires to see what sticks. In marketing, you have to make one confident decision after the other and follow-through with each decision until you have evidence to believe that it’s no longer the best decision. Only then should you change course.
Vampire #5: Ignoring the data
Now more than ever before, brands have access to all the data they could ever want. If you’re not frequently reviewing the data that’s relevant to your short-term and long-term goals, then you could be missing clues, milestones, and signals. You probably wouldn’t drive across the country for the first time without a map, so why should you be trying to steer your business from point A to point B without any guidance? Data is the only aspect of marketing that’s based on science and fact. Without data, you’re just making guesses based on blood-and-gut feelings – leaving you exposed to the vampire’s insatiable hunger.
Vampire #6: Nailing your coffin
You’ve nailed your jewelry business’ own coffin when you think you know what your customers want without actually taking the time to listen to what your customers want. I’ve spoken to so many jewelry business owners who have put themselves in a very tight box – without ever asking themselves in an honest way, “Is this box even right for me and my jewelry products?” For example, you may be so convinced that your jewelry appeals to one type of customer when in reality you’re missing a market that’s more appropriate for you. Or you may be making products that you personally like but that don’t appeal to the customers you’re targeting. Be open, curious, and willing to change when necessary.
Jewelry marketing vampires may be scary, but you don’t have to succumb to their vicious bite. Attract fewer tricks and more treats by paying attention to the vampires I just described.
Links mentioned at the beginning of this episode:
“eCommerce Transactions Expected to Rise to Record Levels During Holiday Shopping Season“[/vc_column_text][/vc_column][/vc_row]