If you’ve ever purchased an engagement ring for someone, you likely remember going to a physical jewelry store and browsing their selection. The excitement and anticipation of selecting the perfect ring for the one you love is an experience to remember. This rings (pun intended) especially true if you proposed 15+ years ago. The jewelry industry historically embraces a historically brick-and-mortar approach. Because of this, many jewelers haven’t been in a hurry to bring their storefronts online.
But did you know that since 2011, online jewelry sales statistics in the U.S. have shown constant sales growth? On average, the online jewelry market grew at an average of 8.64% year-over-year. That’s a lot of sales that you could be missing out on if your brick-and-mortar jewelry store doesn’t have an online presence. If you haven’t quite made the transition to digital yet, don’t worry—it’s never too late to get up to speed. Here are some tips on how you can bring your physical jewelry store into the digital world.
Get on Social Media
Obviously, the very first step you want to take when modernizing your jewelry store is to have a website—but it’s 2021, and we are going to assume that everyone has a website by now. (If you don’t, that’s your first step!) But for various reasons, many jewelers still don’t have a social media presence. Every business–especially a retail business like a jewelry store—should be on social media. Even if you don’t take advantage of actually selling a product via Facebook, having a presence and remaining active is important. According to a 2021 poll conducted by SproutSocial, “78% of consumers are more willing to buy from a brand, and 77% will choose a brand over a competitor after a positive experience with a brand on social media.”
Now, we aren’t saying you have to go crazy and embrace all the latest TikTok trends and dances (but if you want to, by all means, do!), but posting regularly on platforms like Facebook, Instagram, Twitter, and LinkedIn (we recommend the last two primarily for business-to-business rather than business-to-consumer) can help you reach a whole new audience and build trust in your business.
Get Into Paid Digital Advertising
Most of the content you see on Facebook is known as “organic content.” This translates to content that people post without putting any money behind what they’re posting. But if you’ve ever browsed online for something (say, a new watch) and then have later seen an ad on social media for that exact same product, you have experienced paid digital advertising. Advertisers develop content to promote something: a service, a product, etc., then they pay money to show that ad to a specific market. Through specific targeting, they can promote their ad to specific demographics that are more likely to convert into a sale.
Paid advertising is different than organic content because organic content is only shown to people who follow your page on social media (or to people who share your content). Paid advertising reaches a broader audience of people you define when you launch your ad. According to a report on Statista, Facebook stated that they had over 10 million active advertisers in the third quarter of 2020 alone.
While print advertising is still a widely used tactic, digital advertising has continued to prove successful thanks to its ease of use and analytics-minded ability to monitor performance and adjust marketing strategies accordingly.
Register on Review Sites
Word-of-mouth marketing is still a powerful tool for bringing in new business, but it can only go so far. These days, people turn to the internet to make decisions on where to spend their money. Businesses that register on review sites are more likely to get new business from those reviews. A recent study by Qualtrics found that 93% of consumers turn to online reviews before buying a product or using a service.
It’s free to register your business with most online review sites, and most of them give you the ability to monitor reviews and even verify that they’re coming from actual customers who have bought jewelry from you.
If you’ve sold jewelry purely in-store and notice that your sales have plateaued, it might be time to consider adding an e-commerce element to your existing website. What, exactly, is e-commerce? Simply put, it is the process of selling products online. According to Oberlo, it’s estimated that there will be 2.14 billion global digital buyers in 2021 alone. That’s a lot of people.
Adding your inventory to an e-commerce website can feel like a big undertaking—and it can be—but adding a digital element to your jewelry store’s shopping experience can help reach people you’d never reach with a straight brick-and-mortar sales approach. When paired with a paid digital advertising strategy, having an e-commerce capable website can help boost your sales immensely.
Another huge benefit of e-commerce is the data it gives: when you allow people to buy jewelry online, you get a wealth of information from that buyer that can help shape your future marketing decisions. From snagging buyer demographics to browsing and shopping habits, the wealth of information that comes with e-commerce shopping is plentiful and useful for future marketing endeavors.
Consider One-Click Jewelry Insurance
One of the best and easiest ways to bring your brick-and-mortar jewelry store into the digital age is by offering your customers one-click jewelry insurance with Zillion. We integrate with leading Point of Sale and e-commerce providers (like The Edge, Diaspark, BusinessMind for Jewelers, ARMS, Magento, and more) and can get your store live in 15 minutes.
When you partner with Zillion, you’re offering customers the chance to protect their purchase with immediate, one-click insurance at the point of sale. It’s a simple, mobile experience customers of today are expecting more and more in an increasingly mobile world. When considering moving toward a more digital-minded approach to your business, remember Zillion for your customer’s jewelry insurance needs!