How To: Build a Successful Jewelry Business
In this blog post we are sharing some important key points on how you can start your own jewelry business from scratch.
1) Starting Point:
Here comes the first question to ask yourself is fine jewelry or fashion jewelry? Each category has it's own products, production, pricing, material, customer profiles and designs.
Let us first see the difference between fashion and fine jewelry:
- Made of inexpensive material
- For everyday, day to evening jewelry
- Lower price points
- Sometimes mass production
- Made of precious and semi-precious material
- Made by amazing Jewelry Designers
- A higher price point
- For special occasions, parties, weddings
Next step, when you have decided the category for your business it's time to select a niche for your products.
You can start by defining your ideal customers and then decide whether your products are occasion specific or day friendly.
When everything is decided it's time to write down your Mission Statement and Business Goals . Mission statement is really important don't ignore it. It is something that describes the whole purpose of your business and what is essential to you. It also describes your brand moto and what unique you are giving to your customers.
Next comes the logo design. When you know your target audience its time to make a unique, eye-catching logo for your business. You should have a clear understanding of your brand's unique identity so that you can create a representable and memorable logo design.
2) Market Research:
Market Research is an really important and most powerful step you need to take if you want your business to be successful and profitable
Here comes the most asked question,
Why you should do market research?
The answer to this question is quite simple,
Market research helps you to explore the market and check the needs and demands of your audience. You can have a quick view of what products are trending now-a-days. Who are your competitors and how they are winning.
Determining how you can meet those wants and needs. And how you can make your business more unique then your competitors.
3) Building Online Store:
Now that you are all set with your niche, brand, logo deign, mission statement and market research. It's time for the first starting point and that is building an online store.
You can choose a hosting platform and build your online store.
Key points you should remember while building your online store:
1. Fast Website:
Your website's loading time should not be more than 2 seconds.
2. Unique Website Design:
Look Different, Be Unique
Make your website look unique and different. Use good color scheme, Use good text font, Use Good quality images, Different and unique logo design. While designing the website be creative. It's your store make it look amazing and memorable.
For marketing your business you can use different social media platforms, write blogs for SEO etc.
Make social media accounts of your brand, add logo, tell who you are and then start posting.
Be serious on Social Media Platforms.
Post content related to your niche/product. Use trending keywords, hashtags. One important things is consistency, don't stop posting. Post everyday at least one post a day.
Search for micro influencer in your niche and ask them for paid promotions on their pages or use their tags in your post, message them about your post so they can repost on their pages. Make a good connection with micro influencers.
Write blogs related to your niche/product. Use google trends to find trending blog topics and write.
Marketing is the way you can reach your target audience. It is important that you use correct keywords and hashtags on your posts.
Ways to market your brand:
- Blog Posts
- Video Tutorials on YouTube to reach large audience
- Effective E-mail marketing using tools
- Social Media Strategies marketing to turn the potential buyers into real customers
- Search Engine Optimization (SEO)
- Content Marketing
5) Effective Utilization of Social Media:
These days, we all are connected through are social media accounts, like Facebook, Instagram, Twitter and much more. So, use your brands social media accounts effectively and upload valuable and good contents for your target audience. It will really help you to grow your business online.
Tips for Social Media marketing:
- Regularly post images of your products
- Post blogs on social media platforms/channels
- Make sure you always include links to your products on your posts
6) Believe In Yourself and Be Patient:
Great things take time. Do your best and believe in yourself. There will be ups and downs but you don't have to give up. It may take sometime even months to become successful so, be patient and believe in yourself.
There is nothing wrong to have high expectations but be realistic and have patience.
Start your jewelry business with full market research. Make sure your business is visible to your target audience. Create a memorable logo design and an unforgettable mission statement. Build a good social media presence by posting content related to your nice/product. Use trending hashtags and keywords in your post. Believe in your self and be patient.