IN THE KNOW

March 2024

Enhancing the Customer Journey

Larry Chasin

In marketing, the customer journey traditionally traverses three key stages: the upper funnel for brand awareness, the mid funnel for consideration, and the lower funnel for conversion and loyalty. Digital marketing channels, as compared to traditional channels, provide detailed, real-time analytics from which more informed choices can be made for optimizing advertising expenditures. Digital technology platforms continue to evolve in their ability to target the right audience at the right time, in the right place, and with the right message.

For example, a digital marketing technique called precision digital allows advertisers to capture the attention of the highly desirable consumer prospects based on their recent visits to the community’s trendiest restaurants, ritziest country clubs, most exclusive graduate schools — and strongest retail competitors.

This breakthrough technology provides advertisers the ability to draw virtual perimeters around 50 or more target locations and then capture the IP addresses of cell phones entering those locations. Once Geo-IP is captured, those targeted customers are fed the jeweler’s messaging via ads in their cell phone’s Apps and in websites across the open web. The technology allows advertisers to see real-time metrics, including the number of impressions, click-through rates, number of clicks, cost per click and a tally of the store’s foot-traffic “conversions.” What’s more, jewelers can see exactly which type of capture zones yield the best results, so strategies can be continually re ned throughout the campaign.

Southern Gates® Jewelry

Sterling silver & blue

topaz celeste bracelet

MSRP $294

southerngatesjewelry.com

800.845.6964

Michou Jewelry

Sterling & 22k gold

vermeil pendant with

agate, citrine, and garnet

MSRP $475

michoujewelry.com

530.525.3320

The best part of Geo-IP targeting is that the cost to participate is within the reach of EVERY jeweler as campaigns can be implemented for just a few thousand dollars.

For independent jewelers the path forward lies not so much in driving online sales, but enticing them into the stores, where most jewelry transactions happen — and will happen long into the future. The key to success is understanding of how all the pieces fit together.

The upper funnel revolves around creating brand awareness and initiating engagement with a broad audience. Strategies deployed here cast a wide net to capture attention and introduce the brand to a broad, but local audience. Channels, such as social media display ads and boosted posts, also play a crucial role for jewelers. Social media campaigns on Facebook and Instagram, for example, employ visually appealing and engaging content to capture user interest and initiate interactions. Jewelers should make sure to leverage the beautiful content created by their most important brands and suppliers. Many brands are starting to participate in social media automation networks like the JewelPost Network and Promoboxx to offer turn-key social media posting and local advertising to their dealer network.

By placing Google Display ads, jewelers may leverage the vast reach of its network. These ads should employ targeted messaging and captivating visuals, precisely reaching audiences based on their interests, demographics and online behavior.

Simultaneously, programmatic display ads operate dynamically across millions of websites across the open web, using automated technology to deliver ads to precisely targeted audiences based on the historical Geo-IP location of a prospect’s cell phone, behavioral characteristics/demographics, social following, the jeweler’s customer list and customer look-alikes.

Inox Men’s Jewelry

Leather & steel station bracelet

MSRP $120

inox-us.com

203.803.1481

Moving to the mid-funnel, the goal shifts to cultivating consideration among those who have shown some initial interest. Email marketing campaigns become vital, delivering personalized content and special offers to nurture leads and maintain the brand’s presence during this phase. Retargeting ads re-engage users who’ve interacted before, rekindling their interest and migrating them further down the funnel.

The lower funnel narrows its focus on conversion and loyalty. Remarketing intensifies, offering tailored incentives to encourage action, while conversion-focused landing pages optimize user experience for desired actions. Paid search campaigns, notably Google Pay-Per-Click Ads, target active shoppers and are optimized for relevant keywords, ensuring the brand appears prominently in search results, capturing the attention of users ready to convert.

Adding another layer to the digital strategy, SMS texting is a powerful tool for direct and personalized communication. SMS campaigns cut through the clutter, delivering concise, yet impactful, messages directly to customers’ mobile devices. These campaigns engage users with timely offers, event reminders or exclusive promotions, providing a direct line of communication that often leads to higher open and conversion rates, as well as visits to the website or in-store appointments.

Targeted Email and SMS campaigns to existing and opted-in prospects about special events is one of the most effective strategies to gain in-store appointments. Done right, these campaigns can generate 10 to 50 scheduled appointments to support in-store events. Conversion-focused landing pages are optimized for seamless user experience and persuasive calls-to-action, guiding visitors towards making a purchase, scheduling a consultation or taking a desired action. Metrics shift towards measuring conversion rates, sales attribution, ROI and customer retention, indicating the effectiveness of campaigns in driving actual sales and fostering long-term customer loyalty.

As a final thought, for many smaller jewelers, the transition into digital marketing probably involves a re-thinking of what it means to plan and spend a dedicated marketing/advertising budget tied to gross revenue.

Using the relatively conservative industry standard of 6% means that a store generating $1 million in gross revenue would establish a $60,000 annual marketing/advertising budget. Whatever the total budget, it needs to be spent and it needs to encompass traditional advertising costs, such as occasional radio and print, website management, data integration, creative, and digital advertising across multiple digital marketing channels.

Overcoming the challenges requires an investment of time and money, but the rewards are well de ned and clearly worth the effort when properly executed.