139 - Discount Pricing Strategies and Jewelry Marketing

Episode #287 - "Celebrating Joy Joya's Business Anniversary at 8 Years" Welcome to Episode #287. In today's episode, I'm excited to celebrate my 8-year business anniversary! I launched Joy Joya in May 2016, just after relocating to Los Angeles. At the start, it was merely a basic website and a big dream. I began as a glorified marketing copywriter, gathering a small group of clients, primarily jewelry businesses, helping them with product descriptions and storytelling - but also by necessity advising them on their marketing activities. I've touched on my journey in previous podcast episodes, but never delved deeply, mostly because I thought it might not captivate everyone. You see, there are consultants and thought leaders out there with dramatic, almost cinematic stories of staggering transformations or extraordinary rags-to-riches journeys. You know the ones I'm talking about - they hit complete rock bottom and then transform their lives and businesses to ultimately make millions. That's really awesome! But frankly, my story isn't like that. In the past, I've been hesitant to share because it lacked that Hollywood drama. However, eight years into running my business, my confidence has grown significantly in both my capabilities and the narrative of my journey. This confidence has made me more eager to empower others who might feel their stories aren't headline-grabbing because they didn’t craft their first piece of jewelry atop Mount Everest. Or maybe you're out there thinking you haven't yet achieved a more "conventional" definition of success, so you're not sure how to hype your business up in your storytelling. Lately, I’ve been reflecting on the idea that while sensational stories might capture some people's attention, others are definitely looking for tales that resonate more quietly with their realities. They want more understated, yet equally powerful stories where triumph unfolds subtly. I believe my story is one of those genuine, relatable tales. So today, I choose to celebrate and share it, hoping it resonates with those of you who might think your own stories aren’t scripted for the silver screen.   Transcript: https://joyjoya.com/joyjoya-business-anniversary 00:00 Start 3:53 Primary Episode Content 31:46 The Gold Mine  

Episode #286 - "Tips For Optimizing Your Jewelry Product Pages" Welcome to Episode #286.Today, let's delve into the significance of your ecommerce site's product detail page, especially concerning jewelry sales, and I'll share some pointers to enhance its appeal. Every person holds certain perceptions of value, shaped by individual experiences. These perceptions encompass pricing, expected treatment, and the surrounding environment. Surprisingly, if customers feel they're getting a good deal, they may overlook minor imperfections in the product. Imagine lusting after a luxurious clothing item or accessory slightly beyond your budget. When finally deciding to splurge, you have two options: Option A, you could walk into a high-end store, pay full price, and savor the entire experience—being treated as a valued customer, relishing the ambiance, and reveling in the feeling of indulgence.  Option B, you might opt for a discounted or second-hand version, accepting compromises like less pristine packaging or a longer wait time. Or like maybe you're at a sample sale and don't even have a place to try things on or anyone to help you. In this case, your expectations are tempered by the knowledge of the deal you're getting. However, in the former scenario, any deviation from your expectations—such as unhelpful sales staff or a messy store—can bug you, as you had anticipated a seamless experience. This irritation wouldn't happen if you had already decided to compromise for a better price and came to the transaction with lower expectations. Most jewelry brands, regardless of price point, don't sell bargain items; their products are considered discretionary purchases and should be presented accordingly. Customers, especially when buying jewelry at a stretch in terms of budget, anticipate a certain level of presentation, service, packaging, and quality. And a stretch in someone's budget doesn't even necessarily have to be fine jewelry. Even a $100 item could be a huge stretch and a treat.  Their expectations play an integral role in the shopping experience, which should ideally be pleasant and enjoyable—unless, of course, you're rummaging through cheap earrings at a garage sale. Unfortunately, many brands fail to replicate this experience online, missing the mark on what customers crave and what would entice them to make a purchase. So, even if you believe your product page is adequate, I encourage you to consider whether it truly aligns with your customers' expectations. If you're wondering why customers visit your site and don't buy, it's time to get real about your product presentation. Keep listening for the scoop. Transcript: https://joyjoya.com/jewelry-product-page 00:00 Start 6:09 Primary Episode Content 24:09 The Gold Mine

Episode #285 - "The 10 Essentials of Managing Your Ecommerce Jewelry Store" Welcome to Episode #285. Today, I'm diving into the must-knows of managing your online store. I'll chat about what you should understand about your ecommerce setup and why it's essential to seek help if you're unsure. I've been chatting with some jewelry business owners who have their online store on Shopify but aren't fully familiar with all of Shopify's features and capabilities. Maybe they relied on a developer before and never fully got the hang of it themselves. If you don't have a dedicated ecommerce team for your online shop, it's vital to grasp some basics. While I'll focus on Shopify, the same principles apply to other platforms too, like Squarespace and Wix. Think about it like this: running an online jewelry store is similar to running a brick-and-mortar one. Just like you need to know how to switch on the lights and open the display cases, understanding your ecommerce system is crucial. Even though it's online, it's just as important. Take some time to understand it, and I'll explain why in this episode. Transcript: https://joyjoya.com/jewelry-ecommerce-essentials 00:00 Start 2:19 Primary Episode Content 25:32 The Gold Mine  

Episode #284 - "Carousels? Reels? What's Up With Instagram For Jewelry?" Welcome to Episode #284. In today's episode, I'm diving into the current best practices for Instagram content. What formats are hitting the mark? What kind of results can you realistically expect from your social media efforts?  I've recently completed over a dozen social media audits, pouring over the data from various brands, so feel free to ask me anything in the YouTube comments or by DMing me on Instagram @joyjoyamarketing.  My deep dive has revealed a crucial insight: there's no one-size-fits-all strategy that guarantees success for every brand. Each one has its unique aspects. Understanding your analytics is key to making informed decisions. But is posting on Instagram all there is to it? Stay tuned to discover more. Transcript: https://joyjoya.com/instagram-jewelry-businesses-2024 00:00 Start 1:55 Primary Episode Content 16:50 The Gold Mine  

Episode #283 - "Hero Images for Jewelry Ecommerce and Digital Marketing" Welcome to Episode #283. Today, we're diving into the world of heroes, but not the kind you might expect from comic books or Marvel films. Instead, our focus will be on hero images and their critical role in digital marketing. The term "hero image" originates from web design and refers to the prominently large and often wide image that captures your attention at the top of a website or an email campaign before any scrolling occurs. This image may sometimes feature overlaid text or photos, and can even extend to videos or carousel sliders. The purpose of the hero image is to reassure your visitors or viewers that they've arrived at the right destination. Upon viewing the hero image, individuals should feel a connection to your brand and/or a resonance with the products you offer. It's meant to be an inviting gateway that encourages exploration, similar to the welcoming display window of a physical jewelry store.  This is your chance to showcase your brand's identity and inject visual appeal into your homepage or email campaign, especially since other design elements on most effective ecommerce sites and email campaigns should be simplified to ensure the thet load efficiently across various devices. When someone enters your online store via the homepage, the hero image lays the groundwork for their shopping experience online. If you're eager to discover how to maximize the impact of hero images on your website and emails, continue listening to or watching this episode. Transcript: https://joyjoya.com/hero-images-for-jewelry-ecommerce-and-digital-marketing 00:00 Start 2:55 Primary Episode Content 16:21 The Gold Mine  

Episode #282 - "Finding the Right Audience for Your Fine Jewelry" Welcome to Episode #282. Today, I want to chat about finding an audience for your fine jewelry, especially if you sell at more aspirational, luxury price points. This episode was actually inspired by some content I've been watching on TikTok and it really got me thinking about the target audience for high-end accessories. The first post was from a TikTok user named "Level Blue", who teaches ladies how to be elegant in her own words. One of the posts I watched was called "3 luxury things elegant ladies never buy", and #2 was very branded jewelry, I won't name any brand names but you know what I mean, fine jewelry that features very obviously brand motifs or details that can be connected to the luxury brands that make them. According to this TikTok-er, "elegant" ladies don't buy this type of jewelry because it's so overly fake to the point that wearing is it tacky - who even knows if what you're wearing is real or fake? Elegant ladies wear unique jewelry that you won't find copied or on a lot of other people. The other TikToks that have been inspiring me is the account Class of Palm Beach; the content creator basically goes on the streets of Palm Beach, FL to ask people about their outfits. Of course, I'm always interested to hear about the jewelry. Most of the time, it's just stacks on stacks of Cartier love bracelets or lots of Tiffany, which don't get me wrong, is fine if you love those things. But every once in a while, a person who's interviewed wears something different, like one recent TikTok showed a woman wearing necklace layers with Foundrae. And in the comments, all the people were asking, "Whoa I love that jewelry, so unique, what was the brand again?" Where I'm going with this is: there are two types of high-end buyers - the ones who really like the brand names and the recognition of wearing something that looks expensive. If you're listening to this podcast, and your business isn't named Cartier, Tiffany, Van Cleef, or similar, then you will likely never cater to this customer because their money is going to be spent elsewhere. You don't have literal centuries under your belt building a brand name. So what's left for you? You're catering to the people that "Level Blue" is catering to, the customers who want to look elegant without looking like they're wearing something that can easily be copied. And speaking to the customer who does want something different and something that's going to make them feel special and unique is going to mean having a clear story, voice, and personality in your brand, so that you can reach those customers who will feel proud to be wearing something unique. And in this episode, I want to chat about how to do just that. Transcript: https://joyjoya.com/audience-for-your-fine-jewelry 00:00 Start 5:47 Primary Episode Content 21:29 The Gold Mine  

Episode #281 - "Tactics for Boosting Your Jewelry Ecommerce Performance" Welcome to Episode #281. Today, let's dive into a "part two" of last week's discussion on achieving ecommerce sales goals through key metrics like Average Order Value (AOV), Conversion Rates, and the number of Website Visitors. While I outlined the importance of these metrics, I didn't delve into strategies for enhancing your performance in these areas.  In this episode, I'm excited to offer practical advice on elevating your AOV, boosting conversion rates, and increasing your site's traffic. Coupling the insights from episode #280 with today's tips should empower you to elevate your online jewelry sales, providing clarity on the actionable steps you can take to turn your sales aspirations into reality.  This approach aims to make your goals more attainable and demystify the process of achieving online success. Transcript: https://joyjoya.com/boost-jewelry-ecommerce-performance 00:00 Start 1:57 Primary Episode Content 16:30 The Gold Mine  

Episode #280 - "Jewelry Marketing Metrics for Ecommerce Goals" Welcome to Episode #280. Today, I'd like to share some strategies to help ease the pressure of meeting your ecommerce sales goals by instead zeroing in on more digestible metrics that can be tackled in bite-sized pieces. I stumbled upon this method of achieving sales targets back in 2014, thanks to an article on BigCommerce's blog. Sadly, the article is no longer available, but I managed to save the ecommerce formula that they share. Over the years, I've revisited this formula countless times because of its straightforwardness and its effectiveness in demystifying online sales. Consider this: you probably have a clear income goal in mind. But have you broken down what that goal means in terms of website visitors needed, conversion rates to aim for, and the average order value you should target? The essence of what I'm sharing today is this: if you're selling jewelry online, it's crucial to stay informed about your key ecommerce metrics. This doesn't mean you need to be an expert in Google Analytics or a data guru. In fact, we're going to keep things simple. Our focus will be on the most impactful metrics, devising marketing strategies that directly influence those metrics. Transcript: https://joyjoya.com/jewelry-metrics-ecommerce-goals 00:00 Start 2:23 Primary Episode Content 16:50 The Gold Mine  

Episode #279 - "Jewelry Storytelling: Get Your Audience to STOP and Pay Attention" Welcome to Episode #279. Today, I'm revisiting the topic of brand storytelling for what must be the thousandth time, simply because I can't seem to emphasize its importance enough.  Recently, I stumbled upon a small business grant sponsored by a global bank, which understandably attracts a vast number of applicants. A unique aspect of this application process is the requirement to submit a 500-word essay detailing your business's journey and how it has navigated the current economic landscape. However, there's a catch: your story must be shared publicly, as all submissions are compiled on a single webpage for open viewing. Curiosity got the better of me, and I found myself diving into the narratives of fellow entrepreneurs. With every page refresh, a flood of new entries appeared, signaling thousands of applications from business owners nationwide, including those from the jewelry sector. Intriguingly, the use of AI for crafting or refining these stories was prohibited, placing the onus on the applicant's innate storytelling abilities to compellingly answer the prompt within the tight word limit. As I read some of the submissions, I couldn't help but marvel at the monumental task awaiting the judges: selecting finalists from such a rich tapestry of stories. It's clear that each business owner would greatly benefit from the grant.  This leads to the pressing question: In a sea of narratives, how does one capture attention? Whether it's in a grant application or communicating with customers, standing out is crucial. Stay tuned for my insights on how to make people STOP AND PAY ATTENTION to your story! Transcript: https://joyjoya.com/jewelry-storytelling-tips-jewelry-brands 00:00 Start 3:27 Primary Episode Content 19:01 The Gold Mine  

Episode #278 - "The Role of Production in Jewelry Marketing" Welcome to Episode #278. Today, I'd like to discuss a common challenge many jewelry business owners face when it comes to planning their marketing content. Surprisingly, it's not about their marketing skills or knowledge, but rather about production; yes, about the actual designing and making of their products. When we help our clients organize their content calendars, typically looking six months ahead, we sometimes hit a roadblock: not knowing the production schedule. Together, between us and the business owner, we have no shortage of good and interesting ideas. But if the production calendar hasn't been fleshed out, we can't plan marketing effectively. I understand that production can be complicated, especially if you're not making everything yourself. Even if you are, relying on suppliers and delivery times can be tricky. But even business owners who handle everything sometimes struggle to plan ahead because they prioritize creativity over sticking to a schedule. While being creative is amazing and important, it's important to realize that running a solid business powered by effective marketing needs some insight into production. Without it, planning can really become chaotic, which isn't ideal for running a jewelry business. So, how can you make sure your production and marketing align better? Stay tuned for some advice. Transcript: https://joyjoya.com/production-jewelry-marketing 00:00 Start 3:36 Primary Episode Content 19:41 The Gold Mine