Revenue in the Jewelry segment is projected to reach US$257,889m in 2021(worldwide). The market is expected to grow annually by 3.0%
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The online jewelry market is a rapidly growing multi-billion dollar industry. If you believe this is the business for you, however, don’t know where to start, follow the steps below. Your chances of making a profit will increase significantly. Here, we will break down how to sell jewelry online in 9 steps.
How to Successfully sell Jewelry Online:
2. Identify the Type of Jewelry You want to Sell and Niche
3. Identify the Persona of your customer
4. Develop Your Jewelry Brand and Brand Persona
5. Invest in your Online Presence
6. Be present, have frequency and constancy on Social media
7. Invest in Social Media Ads, Google Ads, and Partnerships
8. Provide In-Depth Product Information
9. Listen and Adapt to Increase Jewelry Sales
Do you know the online jewelry market? What is being sold, how and to whom? Follow profiles on Instagram, search on google, read blogs, use google alerts so you will get notifications on important subjects. Here you can understand more on Google Alerts: click here.
Put on paper everything you learned about the jewelry market. It can be writing on post-its and putting it on a wall or writing in google docs. But the important thing is that you know who the main players are, what type of jewelry they sell, what the price range is, how they relate to customers, etc.
Identify the Type of Jewelry You want to Sell and Niche
Take the time to identify and define what type of jewelry you want to sell: Fine Jewelry, that incorporates high-quality metals and precious stones like diamonds and sapphires, more expensive and for an audience willing to spend more; Handmade Jewelry, appealing for one-of-a-kind jewelry, usually more affordable to consumers or Vintage Jewelry?. Take into account all the pros and cons, such as suppliers, prices, margin, competition and potential market size.
Have you heard of the business model canvas? Here is a helpful how to: click here.
Identify your Customer and Brand Persona
Tell your target customers a story about your brand, who is your brand, what values do you stand for, what do you believe, how will you add to your consumer’s life. What makes your jewelry special. Decide on the tone that you want to consistently use when communicating with your audience. That tone goes through defining the vocabulary you use, the colors of your brand and even the on-brand packaging when you ship out your products. Consider hiring a marketing or design professional.
You should also understand in detail who your customers are and how to describe their persona. Here you can find more details and resources on this topic: https://econsultancy.com/customer-personas/.
Invest in your Online and Social Media Presence
Social media is a powerful tool for reaching out to your potential customer base and boosting your sales. But you have to be patient. Publish frequently and be constant. Make sure to provide rich visual content and highlight the most special aspects of the work. Connect with fellow jewelry sellers to promote one another’s work. Use relevant hashtags surrounding your niche (but not too many). Ask your network for feedback on what they want.
Remember that people are on social media to connect with other people. So, show yourself, connect, answer comments and DMs.
Always use the new tools that the networks are providing. Investing in paid advertising is important to reach a larger number of people, organically you will always be limited.
Provide In-Depth Product Information
Your customers need to understand all the details of the product clearly and obviously. Do not expect that when they have doubts they will reach out. You’ll want concise and descriptive information for each piece of jewelry. Make it easy for users to contact your company with product or order delivery questions.
Listen and Adapt to Increase Jewelry Sales
It’s important to look at your business from an analytical perspective, understand in detail where you have the most sales and higher profit margins. Social Media offers a ton of metrics that can help you understand your customers’ behavior and interests, so take advantage of that.
Last but not least, don’t shy away from studying, searching for resources, watching masterclasses, and taking courses.