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Data-Driven Marketing Strategies Your Jewelry Business

by Content Team | Last Updated: December 20, 2021

The more channels you invest in your marketing strategy, the greater your company’s reach to more customers. The idea is that with various internet channels, there is a range of people who primarily focus on using that one, so you can cater to the demands of those people. Contrary to popular belief, if you simply focus on one channel, you will miss out on many other opportunities.

When it comes to broadening your marketing methods, here are some of the channels you can pursue:

Many marketing efforts must be tested to check and choose the design that can assist you in becoming successful quickly! To make data-driven decisions regarding which product or marketing plan will generate the most revenue, hundreds of KPIs (Key Performance Indicators) must be used. Marketing is all about data, and as a business owner, you must deal with it every day. Let’s talk about them.

CPA (Cost Per Action)

On both the advertising and product sites, you should experiment with different items, audiences, and creative concepts to maximize the cost per transaction. It takes time, but it is well worth it in the end.

CPC (Cost Per Click)

PPC services are particular with CPC in their campaigns. Optimizing the cost per click might help you save money on customer acquisition. Generally, by promoting a wide range of messaging, formats, and creatives. The less expensive the click, the bigger the amount of interest.

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Return on investment in advertising (ROAS)

Another consideration is the return on advertising investment, which should continually be enhanced. The greater it is, the more marketing money you have. The more impressive your results are, the more impressive they will be.

ATC (Add To Cart)

ATC is a vital indicator that indicates whether or not buyers are considering acquiring your stuff. A spike in the ATC statistic should occur following ad spending, else it will indicate that your marketing efforts are ineffective.

AOV (Average Order Value) 

You should expect a 10 to 20 percent increase in revenue at the end of the year if your AOV is optimized. An increase in average order value transforms a losing business into a profitable one.

When you provide free shipping on orders exceeding a certain amount, the average order value skyrockets. Each company has its unique AOV optimization method. Cross-selling, upselling, and post-purchase upsells are all common AOV-increasing strategies used by online businesses.

CLV (Customer Lifetime Value)

At times, it is critical to shift your perspective and concentrate exclusively on LCV (lifetime customer value). We are all aware that in the jewelry industry if a buyer appreciates your products, he or she will continue to buy them. Therefore, do not be concerned if you have depleted all of your profit margins in order to entice a consumer. This must be continued throughout time. Continue to run your advertising across all platforms and use remarketing to follow up with your potential buyer.

Conclusion

The luxury market is undergoing changes.

For luxury marketing, television networks, billboards, and glossy magazines are insufficient. Now is the moment for your luxury company to get digital and invest in SEO, PPC, and other social media platforms that your customers utilize.

So here’s my question to you: Which digital channel will you leverage first to promote your luxury brand?

To reap long-term benefits now is the moment to invest in jewelry-related digital marketing services. You will witness an increase in website traffic, sales, and revenue for your corporation with the assistance of Luxury Sandbox, an agency offering full-service digital marketing services in Kona. Contact our digital marketing experts who specialize in jewelry marketing to discover more about how we can help your business.

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