What’s “Marketing Myopia” and How Can It Affect Your Jewelry Brand?Laryssa
Have you ever heard of a term called “marketing myopia“? You may have seen the word “myopia,” which is a fancy way to say nearsightedness. In relation to marketing, myopia means a brand has lost sight of the big picture and is focusing too closely on small details that only relate to short-term outcomes.
When a jewelry brand’s design and marketing teams are in the throes of product development and promotion, they often become laser focused on making sure a product is just right and that the corresponding marketing is attractive and appealing.
Let’s look at a more specific example. Imagine a jewelry brand’s marketing team has become obsessed with growing the brand’s Instagram presence because Instagram converts. They focus heavily on getting “likes” and feel discouraged when a post doesn’t attract as much activity.
Meanwhile, the brand hasn’t invested time, attention, and money into customer service, product innovation, content marketing, and real relationship building.
Now, there’s nothing inherently wrong with focusing on Instagram, especially if customers are finding the brand through Instagram and actually buying products they see in posts. However, this approach is limiting for two reasons.
- When product development and marketing is the sole focus, a brand may lose sight of its overall mission. In addition, they forget what the customers really want, which is often more than a pretty picture they can “like”.
- Focusing all time, budget, and attention on Instagram strategy is short sighted, especially for a jewelry brand that hopes to remain relevant many years from now. Who’s to say that Instagram will still be popular in 5-10 years?
So how exactly can you avoid marketing myopia? First, you need to fully understand what you stand for as a brand and know what sets you apart in the marketplace. Then, you must never lose sight of your core value proposition and constantly consider how you can communicate it to your customers, whether your brand is 5 years old or 50 years old.
Studying heritage jewelry brands can help you better understand this concept. A brand like Tiffany & Co. has been around since the 1800s. It’s true they’ve pushed the boundaries with some of their collections over the years – appealing to new customers and evolving with the fashion trends. However, they’ve never lost sight of the fact that they make jewelry that people love to receive as gifts. They’ve kept their iconic blue packaging and the personalized shopping experience sacred.
Have you ever experienced marketing myopia? How do you pull your brand out of this state and reconnect with your customers on a more personal level that will stand the test of time?