Marketing Your Jewelry Business – How a Retail Business Loan Can Help

by | Jan 26, 2022 | e-Commerce | 0 comments

In 2020, the jewelry industry was valued at about $230 billion. More and more entrepreneurs in this industry have segued into online selling and, in this way, have spurred sales. E-commerce, as far as jewelry is concerned, is everything. The key, however, is to stand out in a relatively crowded field. In the US alone, there are over 50,000 jewelry sellers. It can be a tricky business. This is precisely why having robust marketing and advertising strategy in place for your jewelry business is critical. But what can you do? What sorts of marketing campaigns should you implement to attract more customers and generate more sales? This article looks at marketing strategies for jewelry companies, plans that will help you get noticed and outshine your competitors. Below are seven things that you can start doing right now to help boost your business.

1. Work on your SEO. The fact of the matter is when people go to buy anything, especially a significant purchase such as jewelry, they will go online first. Whether they are researching the product, looking into the various sellers, or simply trying to find a store near them, Google will be their primary tool. Where do you stand in a Google search of jewelry stores? Implementing a more dynamic SEO strategy can help get you a more significant market share. If you come up on the first page, what’s more, in one of the top three positions, people are far more apt to go to your site and see what you have to offer.

2. Improve your social media profiles. Are you doing all you need to do on social media to stay competitive? Facebook, Pinterest, or Instagram–these are great platforms for interacting with potential customers and consequently spotlighting what you have to offer. You may need to hire a social media expert to help. A retail business loan could undoubtedly come in handy to help with the cost of a new hire and the overall cost of any such campaign.

3. Open an Etsy shop. Etsy is becoming a go-to platform for many people looking for certain handmade products. If your jewelry has that custom and handmade feel, selling on Etsy could be an excellent way to get more customers. Setting up a shop on Etsy is incredibly easy. Keep in mind there are fees for listing each product.

4. Partner with other retailers. For small businesses especially, being able to expand your reach and extend your audience via a partnership with an already established retailer might be a brilliant way to go. This is where networking does come into play. Leverage your contacts. Reach out to local retailers. Establish those connections that will benefit your jewelry business over the long term.

5. Pay attention to online reviews. This is an essential one for any marketing campaign. No marketing effort will get off the ground if negative reviews hamper you. We live in a review-driven world. If you ignore the terrible press and hope it goes away, you could be in for disastrous results. When addressing a negative review, do so tactfully. Do not go on the defensive. Offer to rectify the situation. Show other users that you take responsibility and want to ensure customer satisfaction.

6. Start a referral program. People love free or discounted stuff. With a referral program in place, you give customers a chance to earn free products or discounted items and generate more business under new people coming in. Getting referrals is always a solid marketing strategy.

7. Partner with an influencer. Social media influencers can have a great deal of power regarding what their followers buy and use. People want to be like them. People want to use or wear the thing they do, so people will purchase the same items that the influencer does. To strike up a relationship with an influencer, be sure to follow them on social media, interact with what they post, and show genuine interest in what they have to say.

First Union Lending Wants to Help

If you have a jewelry business and want to generate more leads and thus more sales, you will have to put some money into marketing. Again, this is a very crowded field. New jewelry stores are popping up daily. What are you going to do to stand out? We can help with that. Our loan programs are fast and flexible, and particularly with retail business loans, we can often get you funded in as little as two days. Call today to get started.