Setting the Gold Standard: Tips for a Successful Jewelry Business

Congrats, you own a wonderful local jewelry store. But how do you make it stand out from all the rest? Or perhaps you’ve owned one for a while, but you need ideas to give it a bit of a facelift. Either way, we’ve got you covered. 

The jewelry market faces unique competition and challenges. However, we chat with local businesses all day, every day, and we’re here to help. The following tips are uniquely designed to help growing, local jewelry stores like yours get the traction they need to come out on top, with just a little bit of work and a little bit of personalization. 

Read on to learn how to overcome the unique challenges and competition in the jewelry industry, and watch your bottom line rise. 

20 Tips to Run a Successful Jewelry Business

Ready for the best tips on the market? You’ve come to the right place. Read on for our favorite 20 tips for successful jewelry businesses and learn how to take your business to the next level. 

1. Unique and High-Quality Products

In order to run a successful jewelry business, you need to have products no one else has. Create unique and high-quality jewelry pieces that stand out from the rest. Invest in craftsmanship and use premium materials to ensure your jewelry is durable and visually appealing. Use local culture and scenery to inform your art, creating products that are specific to the area. 

2. Know Your Target Audience

Of course, offering unique, quality products starts with doing a good amount of research on your target audience. Begin by thoroughly researching the jewelry market in your area. Understand your customers’ preferences, price points, pain points, and more. You can start by creating helpful customer profiles. 

3. Brand Identity

Do you know who you are? Your customers need to. Develop a strong jewelry brand identity that reflects the style and values of your jewelry business. Your jewelry line brand should convey trust and quality. A memorable logo and consistent visual branding always help. Don’t forget to show up consistently on social media and local search, ensuring that your presence is consistent across multiple platforms. Feel free to use emojis and pictures to communicate personality!)

4. Competitive Pricing

You should be a step above the rest, but your prices shouldn’t be. That means you need pricing know-how. Research pricing strategies in the jewelry industry and set competitive prices for your products. Consider factors like materials, craftsmanship, and market demand for your gemstones, necklaces, and more. Adjust as necessary.  

5. Online Presence

Yes, you should be everywhere. Invest in a quality reviews platform to make sure you show up on local search whenever potential customers are searching for jewelry stores near them. Take time to gather and respond to reviews, demonstrating reliability, engagement, and trust. Make sure your NAP (business name, address, phone) is consistent across all of your different listings and apps. 

6. Engaging Social Media

Facebook, Instagram, Snapchat, Twitter, TikTok—it’s time to post. However, keeping up with all of your posts, including others’ engagement with them, can be quite a time-consuming task. Without the right tools, interactions can slip through the cracks. With a platform like Podium, you can handle all of your communications effectively in one place and dominate your social media marketing. 

7. Build Customer Trust

Fine jewelry always includes customer trust as part of its business plan. Build customer trust by encouraging customer feedback and implementing it. Take the time to design a secure and trustworthy point-of-sale for your customers, and respond to all reviews and feedback as quickly as possible. 

8. Partnerships and Collaborations

Develop relationships with local businesses, jewelry designers, and influencers in the area to establish effective partnerships and collaborations. The advantage here is that you have two or more parties promoting the same product or line–leading to more influence and more sales. 

9. Customer Reviews and Testimonials

Where’s the social proof? Online. As part of your business model, use text to collect reviews online and on your website, taking the time to gather top reviews and display them on your home page. Podium’s Reviews tool has the features and benefits you need to make your reviews work harder for you. 

10. Loyalty Programs

Create loyalty programs to reward your customers for their continued engagement with you. These may include punch cards, compounding discounts, or referral discounts to increase your customer base. Loyalty programs can go a long way in helping customers commit to your brand and consistently come to you for their jewelry needs. 

11. Professional Photography

Invest in professional photography for your products, taking the time and resources to show them in their best light. Your product images should be high-quality and load quickly on desktop as well as mobile interfaces, providing a consistently high-quality experience for your customers on their phones and computers as well. 

12. Marketing and Advertising

Invest in marketing and advertising to reach a broader audience. This may include online advertising, email marketing, text marketing influencer partnerships, and SEO. Typically, the best marketing strategy includes a combination of a few of these options. You should experiment and adjust as you go, taking the time to perform adequate market research and make changes as necessary. 

13. Personalized Promotions

Did you know that 75% of your customers are okay with receiving text promotions if they’ve opted in? And consumers actually redeem SMS-delivered coupons 10x more than other types. Address your customers by name and use your CRM to send well-timed, personalized promotions to each of your customers when you want to promote a new product or a seasonal sale. 

14. Quality Control

Implement rigorous quality control processes to maintain high standards for your products. You should carefully inspect each piece of jewelry before it goes to market. This helps you avoid defects and returns, as well as interactions that might hurt your brand. 

15. Sustainability

As many of your customers are increasingly concerned about the environmental and ethical implications of the products they buy, you should be too. Consider eco-friendly and sustainable practices in your jewelry-making process. Implement tutorials of your step-by-step process to show the practices you take to ensure each type of jewelry is sustainable. 

16. Adapt

As you know, the jewelry industry is always evolving. Stay updated with trends, tech, and consumer preferences. Be ready to adapt and innovate your product offerings as times and preferences change. Check in on seasonal trends regularly to stay up with the latest and greatest, ensuring that your customers get the very best you have to offer. 

17. Customer Service

What’s one way you can always differentiate your jewelry company? By providing excellent customer service. Respond promptly to inquiries, address customer concerns, and handle returns and exchanges quickly and efficiently. Happy customers are more likely to become repeat buyers and recommenders. 

18. Be Patient

Success takes time. And that’s okay–it’s supposed to. Be patient and persistent in face of obstacles, especially during the initial stages when you’re just starting out. Take notes of what works and what doesn’t and don’t be afraid to make changes as you move forward with your artistic vision and your specific marketing efforts. 

19. Ecommerce

Consider selling your jewelry online through your website or popular ecommerce platforms like Etsy, eBay, or Amazon. Ensure your online store is user-friendly and offers secure payment options for your customers. You can up your game by implementing an effective live chat option, such as Webchat—a live chat feature that vets leads, collects information, and operates via text. Every new business should automatically be an online business. (For some fantastic texting templates, check out this link!)

20. Have fun

No, we’re serious. Your customers can tell if you enjoy what you do–especially when it comes to your social media accounts and engagement. Keep your posts fun, light, interactive, friendly, and accessible. Make sure to communicate your passion and the fact that you’re genuinely having a good time so they will have a good time with your brand too.

Take Your Small Jewelry Business to the Next Level With Podium

Ready to take your small business to the next level? So are we. 

Podium is the ultimate platform to take your jewelry business to the next level with all the necessary tools to bring more leads and money to your business. Tools such as Webchat, Reviews, Inbox, Payments, Text, and Phones smooth your communication processes and ensure you never miss an interaction or let a customer fall through the cracks. With AI features carried throughout the platform, Podium enables your jewelry business to respond faster to leads and customers with personalized messages and collect more customer reviews than ever before. And whether it’s just a busy day, or after hours, Podium stays connected with leads and customers for you. 

Owning a jewelry store is tough, even with these top jewelry-selling tips. However, becoming a successful handmade jewelry business is possible when you have the right tools. 

FAQs 

Have more questions? We’ve got answers. 

Q: How can I differentiate my small jewelry business from other retailers and stand out in the market?

A: Good question. We think the main thing is to personalize, personalize, personalize. Share the story of how you started your business on your website. Talk regularly about what makes it unique. Find a niche social media platform and stick to it. Highlight employees on different days, describing what they enjoy about their job and what they like to do during their free days to emphasize uniqueness and personality. Address customers personally, taking the time to send personalized promotions that actually have an impact. You’ll see results. 

Hey Julie, Ami from Ami Jewel here. Enjoying your Wohni bracelet? New charms and pendants are now in stock, show this text for 40% off! 🎊

Q: What are some effective marketing strategies for promoting a jewelry business?

A: Want more effective marketing strategies? We hear you. Try offering personalized workshops for your clients. You can also offer virtual try-ons, tap into niche markets, and perform extensive competitor research to learn how you can set yourself apart from other beginners and entrepreneurs. For a few more ideas, check out our exclusive guide to marketing materials for your jewelry store here.