Marketing is nothing more than throwing darts at the wall unless teams fully understand their customers. Smart retailers know to give their customers what they want and connect with their interests, life events and financial budgets. The best way to do that is through extensive demographic analysis and thoughtful marketing strategies. GN Diamond provides this analysis and marketing support to all of its retailers to help them sell more diamonds and take the guesswork out of marketing.
Whether it means changing up marketing strategy or offering current customers more products and services, it pays to really know what consumers want.
GN Diamond provides a comprehensive report of the demographics of an area including age, household makeup and income levels. Retailers can change up their marketing strategies by using this information to tailor their marketing campaigns based on the demographics of a specific area, such as:
Areas with high disposable incomes – Customers who have a high disposable income are more likely to buy jewelry “just because.” Retailers can focus marketing campaigns around luxury items like Riviera necklaces and larger diamond studs with more success. Understanding which areas have more money to spend helps retailers get their message directly to the people who want to hear it.
Connecting with recession-proof bridal markets – Areas with a high population of people between the ages of 25 and 39 are likely to be first time brides and grooms in the next couple of years. Understanding what young people like in their community helps retailers connect their marketing strategy where it counts the most.
Diamonds to celebrate – An older neighborhood with less disposable income is still interested in buying diamonds, but retailers need to understand when and why. These customers buy diamonds to celebrate big moments in their life and they are looking for a tangible way to hold on to their memories. By identifying these markets, retailers can target their marketing campaigns for anniversaries, special celebrations, and holidays.
This is just one example of how GN Diamond focuses on providing retailers with the tools they need to sell more diamonds and create a lasting partnership. Learn more about GN Diamond by visiting www.gndiamond.com and see over $70 million of loose diamonds certified by GIA, AGS, and EGL USA all with the Gemprint ID. “We strive to offer the most competitive prices, and 90% of our inventory is on the first page of RapNet,” says Asaf Herskovitz, CEO.
