In today’s market, virtually every business has invested heavily into e-commerce. Jewelry as an industry has stood the test of time, but will your online presence will stand with it?
CHANGING INDUSTRY TRENDS
The way customers shop for jewelry has changed remarkably over the years, but the jewelry industry itself has remained strong. Industry reports represent a strong demand for high-end jewelry products in the past five years, and project that it will remain strong in 2019 as disposable income rises. Nevertheless, while the industry has benefited from growing household incomes, revenue is projected to decline by an annualized rate of .2%. Experts appropriate this as a result of competition amongst online retailers. As bargaining power grows amongst consumers and they are able to compare online, distinguishing your business is crucial to success.
THE ANATOMY OF A PERFECT SHOPPING EXPERIENCE
Consumers are turning to retailers that offer more comprehensive buying experiences with sophisticated websites. In order to match the luxury of the in-store experience, the online purchasing experience must be on the same wavelength with high-quality product images, user-friendly product configuration settings, and a sensible navigation system.
According to professor Barbara Kahn, (2), consumers will consider purchasing more products when they are stacked vertically than when they are stacked horizontally. This means that products must be stacked in clean, horizontal rows to perform best. In her studies she found that because eyes are horizontal, you have an easier time registering horizontal orders, as humans have higher perceptual fluency in that regard.
“New Arrivals” or “Most Popular” categories should always be highlighted at the top. These encourage new customers to make their first purchase if they are unsure of exactly what they are looking for. This mirrors the effect of an in-store sales assistant by providing recommendations right when the customer walks into the store, or first sees the landing page.
For the experienced user who knows exactly what type of product they want, allow them to refine their search to their heart's desire to avoid frustration or unnecessary time spent in searching. Evaluate the industry to optimize the filters; in the example below, Cellini watches can be refined by brand, buying options, case, function, gender, and more. In strategizing Cellini’s website, Champ thoroughly evaluated every aspect of their buyer’s journey to determine search functionality that best fit their needs.
Up-sells and cross-sells can be achieved through related products. You can boost your conversions and increase your cart value by displaying similar products in the product detail page. According to Forrester research analyst Sucharita Mulpuru-Kodali, product recommendations increase e-commerce site revenue by 10 - 30%.
ENGAGE: PUT A RING ON IT
Further engineering the online experience requires engaging content to draw customers onto the website. This could entail blog posts, educational sections, FAQ tutorials, and incentives such as discounts or complimentary gifts. Being a resource in your industry will improve your credibility. Champ works with Grand Jewelers to optimize their blog and provide relevant and knowledgeable content to engage their audience. The blogs not only demonstrate their expertise to customers and validate their credentials, but they also build SEO value. Accumulating blog posts that utilize strategic keywords relevant to the jewelry industry will help a website rank higher in online searches.
Email marketing campaigns allow businesses the opportunity to demonstrate authority and expertise to their customers. Users are much more likely to open up emails that genuinely interest and educate them. Give your readers a reason to trust you and provide content that brings a personality to your brand. Here is an example of a newsletter we put together for our jewelry client Royal Caribbean.
OPTIMIZE AND RANK
What tactics do you plan on using to generate leads digitally? While trade shows are a common denominator, you’ll want multiple sources to reach customers and extend brand awareness. Driving high volume transactions is realistically achieved through a full e-commerce experience and digital marketing campaigns.
Search engine optimization, pay-per-click management, remarketing, email marketing, and shopping ads are all heavily used in the jewelry industry. In order to compete with the big players in the game, a retailer must optimize those resources to the best of their ability. Neglecting to utilize those campaigns leaves you far behind the competition.
We are seeing more consumers move away from brick & mortar stores and shopping online. In the jewelry industry, most of those consumers are using online stores for shopping inspiration and comparing prices to get the best deal.
Online jewelry stores need to have a sophisticated design and features to make the shopping experience pleasant and appealing to the user. The website needs to be designed with the users in mind and how the brain scans each page for products. To compliment products, content needs to created that is relevant and interesting to your jewelry buyers.
Lastly, digital marketing is much more than a website. It's running ads, using social media, email campaigns, and being where your customers are looking for you. We recommend an agency like us, who can build you a successful online presence and use data to track your success.