3 Formidable Marketing Strategies for Jewelry Retailers
You have a passion for jewelry, beautiful product lines, and your inventory is stocked. You wear your own products and gift pieces to friends and family hoping that they receive compliments and send potential customers to you. Your word-of-mouth campaigning has brought in some sales success, but you need more. This begs the question – what kind of marketing are you doing online for your jewelry store?
Digital marketing isn’t just an additional strategy to consider. It’s now an absolute necessity, especially for jewelers. It encompasses a bunch of different approaches, but you can start with just a few key tactics to enjoy a significant boost in sales.
Here are four powerful marketing strategies for you to employ online for your jewelry store:
#1 – Know and Promote Your Top Products
You already know that they are selling well, so take advantage of your top products by promoting them to a larger audience. How do you do that? Here are a few ideas:
- Utilize retargeting ads to reach customers who have abandoned your top-selling item in their shopping cart
- Promote the product with email marketing
- Use social proof to promote your product by reaching out to customers who have purchased it and asking them to leave a review
- Add user generated content including videos or images of the product being used to social media pages
On the flip-side of promoting your top-products, you can also use the above strategies to promote your slower moving products as well. When you are able to move products that have been sitting on your shelves, you will not only increase revenue, but you’ll also save on storage fees.
Use product segmentation and automate reporting on product performance so that you always know which ones are selling best and which ones need some help. Glew can help you understand product segments, such as most profitable products or best bundles to help you learn more about what’s helping or hurting your store’s performance. It’s also a good idea to monitor your cart abandonment rate consistently and set up automated follow-up emails that encourage customers to buy.
#2 – Increase Your AOV by Upselling Smartly
Encouraging site visitors to buy more products is a great way to increase your average order value (AOV) and create return customers while you are increasing revenue and your bottom line. But you have to be smart about it. Bundling products is one approach to this strategy. Pair products that you know sell well together and offer them at an appealing price. Another smart approach to upselling is using product recommendations based on customer behavior and product analysis. And of course, one of the oldest tricks in the book is offering free shipping when a customer crosses a specific dollar threshold. It’s an old trick, but it’s been around for a while because it works.
AOV is a key metric that you should be consistently monitoring and working toward increasing. Glew allows you to automate reporting of AOV and other key metrics so you are never in the dark about your Magento, Shopify, or BigCommerce store performance.
#3 – Use Targeted Email Marketing
Obtaining new customers is good, but getting your existing customers to order more often and to stay with you longer is another way (sometimes a less expensive way) to increase your revenue.
Using targeted emails for specific customer segments will allow you to reach out to your current customers and encourage them to spend more and buy more often. Some ideas for email marketing include:
- Special offers for loyal customers
Early bird offers, sneak peeks of new products, and discounts on specific products are all specials that show your best customers that you value their relationship.
- Seasonal offers
As a jeweler, you know when your busiest times of the year are (Christmas, Valentine’s Day, Mother’s Day, etc.), take advantage of those times by sending existing customers special holiday offers or letting them know about sales you are having.
Based on browsing and order history, you can offer customers new products from existing lines they have purchased from. When you follow customers’ tastes and behaviors, your offers will be personalized and well-received.
Glew offers a long list of customer segmentation options that will allow you to drill down into very specific groups of customers to target with personalized emails. You can easily target Big Ticket Spenders, High AOV Customers, Most Active Customers, look at Relationship Length, and many other specific metrics.
Final Thoughts about Marketing Strategies
It’s vital that you implement powerful online marketing strategies to stay relevant in the constantly growing jewelry industry. Understanding product performance, upselling to raise your AOV, and targeting customer segments are three ways to do just that. Utilizing a tool like Glew will give you the added benefit of advanced segmentation so that you know you are always on point with your marketing efforts.