Karen Morvan, Stuller’s Brand Strategist, explains the concept of jewelry brand identity, why it matters, and how you can identify yours.
Brands are everywhere—they are tasted in our food, sewn into our styles, and imprinted on our hearts. That said, did you know that nearly 80% of the estimated $263 billion dollars worth of fine jewelry sold every year is unbranded? This means that there is a huge untapped opportunity for you, the independent jeweler, the build your jewelry brand identity.
Why Buy the Brand?
People don’t buy branded products; they buy the branded experience that comes from purchasing the product. They buy fine jewelry because it means something to them. Whether it’s deeply sentimental or it just makes them feel good about themselves, they buy it for more than the shiny object alone. High-end jewelry brands sell more than a piece of jewelry— they sell a great story, one that thousands of people are willing to pay top dollar for.
With the high percentage of unbranded jewelry in the market, you have the chance to brand your jewelry buying experience and make a true connection with each person who enters your store. Your customers are not coming to your shop to buy Tiffany’s. They are coming to buy into you and, more importantly, the experience you create. So, how do you create an experience that keeps them coming back for more?
Find Your Sparkle
Take the ever-famous Apple technology company. People don’t buy Apple products because they are the absolute best (although I could and would argue they are). People buy Apple products because they want to be the square pegs in the round holes, the crazy ones who truly believe they can change the world. They want to think differently, and Apple is what allows them to do this— or so they believe. Why do customers buy jewelry from you and not from the guy down the street? Or why should they? What makes you different? These are questions you should not only ask yourself, but answer in a way that is unique. Because after all, it’s your job to give your customers something meaningful to believe in. Everyone loves a great story. Answer these simple questions about your brand to help you write yours:
- Why are you in business?
- What makes you love what you do for a living?
- Where is your brand positioned in the market?
- Why should customers choose you over the guy down the street?
- Use these answers to define your store’s brand purpose, values, and mission.
So, you’ve found your sparkle. How do you properly polish it?
First, who is your ideal customer? And don’t say, “Everyone.”
Of course, we want to be relevant to everyone because that means more sales, right? Wrong. When you try to please everyone, you dilute your story and your products. Think about which customers are most likely to buy certain products from you and why. Tailor your shopping experience to these customers. Learn their likes and dislikes. Understand what attracts them. You can also segment your store, creating different sections that are more attractive to certain types of customers.
Think about your entire store experience from start to finish. Humans are sensual beings, and we are greatly influenced by our surroundings. What do customers smell when they walk in — a calming, alluring scent or the smell of a litter box and yesterday’s lunch? What colors and artwork do visitors see? Are the cases cluttered or organized so onlookers can see exactly what they want right away? Whether we like to admit it or not, we all notice each of these things, even if only subconsciously. And we tend to notice the things that distract us more often than we notice the things we’re actually looking for. You may sell fine jewelry, but if your store environment doesn’t reflect that, you suddenly have a disconnect in the story you are trying to tell. This will leave your customers feeling lost and confused and less likely to commit to making a purchase regardless of how friendly and helpful you may be.
First thing’s first: clear the clutter, diffuse the distractions and create a beautiful experience to complement the beautiful products you sell. This is paramount to building your jewelry brand identity.
Forget the Glow • Seek a Consistent Glimmer
The most important part of this story is to remain agile. Find your story and tell it confidently, but always know that your story is always being written. Remember, new chapters keep it interesting. Don’t be afraid to take risks. Because even if it’s unsuccessful, there is a good chance you’ll learn something valuable. Can you call that a failure? Absolutely not. Thanks to social media knowledge and Google, customers have a wealth of knowledge at their fingertips and are constantly changing their minds and opinions. You have to challenge yourself to remain relevant in our ever-evolving world.
So Finally,
Stay abreast of all that is new and trendy. Read up on what’s happening in the industry. Follow Stuller Blog and BenchJeweler.com to learn about all the latest happenings.
Remember, it’s not about selling a product. Sell your story, and product purchases will follow suit. The shimmer of the jewelry will catch their eye, but the shine of your jewelry brand identity will catch their hearts, and that is what keeps them coming back for more.
Have you identified your jewelry brand identity? Still seeking? Share your thoughts in the comments section. Then, learn more about how to beef up your jewelry store branding here.
