The retail landscape shifted dramatically under jewelry retailers’ feet in the past year. Between pandemic-related lockdowns and evolving customer shopping habits, keeping customers engaged has become increasingly difficult. It’s unsurprising that online jewelry sales have jumped, but jewelry shoppers will always value tactile, in-store experiences. No matter what the circumstances, the constant question is how can you cost-effectively stay in touch with your customers to build authentic relationships and increase sales?
With all of the distractions in the world today, general mailers or “batch-and-blast” emails no longer cut it. If your customers don’t immediately see something valuable or relatable in your marketing, they will quickly toss it in the recycling bin. But targeting each and every customer with specific messages is prohibitively expensive. Unless you employ Data Driven Marketing.
What is Data Driven Marketing?
Data Driven Marketing relies on data from your POS and ecommerce systems to help you understand, segment and target customers with more relevant messages. It gives you the ability to determine everything from who your VIPs are to which customers love specific brands or different types of precious metals and much more. By sending customers messages that matter, you can build more authentic lifelong relationships and accelerate growth.
4Cs:The keys to a good Data Driven Marketing approach
Data Driven Marketing starts with integrating key data sources and “scrubbing” it to create a Golden Record of each customer. Just like it’s important to use the 4Cs of a diamond to make good purchase decisions, there are also 4Cs to Data Driven Marketing best practices that are important to consider.
Capture—The ability to successfully integrate and clean your data is key to gaining the ability to clearly understand customer purchase patterns and effectively segment customers.
Calibrate—Once you understand customers, you need the ability to cost-effectively send highly targeted messages at the right time. More focused outreach to VIPs and other high-value customers is a proven way to increase sales.
Convey Effectively—The ability to choose channels that your customers prefer, whether it’s direct mail, email or social media, is essential. And relying on templates and proven campaigns or “plays” is important for efficiency.
Consistency—The best marketing platforms work behind the scenes to send the right messages at the right time. They also should include intuitive reports that give you the ability to easily adjust campaigns based on what’s working and what’s not.
Strengthen relationships and accelerate growth
The combination of the 4Cs underpins more powerful, efficient marketing efforts. With the ability to segment customers by purchase history, preferences, product value, demographics and more, Ascent360 jewelry retailer clients are very strategic in their marketing. And the focused and automated efforts pay off. Our clients’ high value customer segment alone typically generates 75 – 85% of total revenue. Ready to learn more?
Download a complimentary copy of our Jewelry eBook to take a deeper dive into the 4Cs of Data Driven Marketing and learn more about the types of VIP campaigns our jewelry clients run to keep their most important relationships going strong.
Ready to start connecting with your customers and increase sales? Take a tour of our data driven platform by requesting a demo below.