How Our Jewelry Brand Created a Profitable Revenue Stream in the Lab Grown Diamonds Industry.
(The Consistent Content Technique)
We created an additional revenue stream & ranked 2nd on google!
What did we do?
YOU CAN’T MAKE VIRAL CONTENT BUT....
YOU CAN MAKE CONTENT CONSISTENTLY & THERE IS A POSSIBILITY OF IT GOING VIRAL!
In this blog post we are going to explain exactly how we did this, step-by-step.
THE BIG PROBLEM WITH LAB GROWN DIAMONDS: ARE THEY REAL?
Indian consumers haven’t accepted the emergence of an alternate diamond like Lab Grown Diamond. This is particularly due to a few reasons:
- Lack of awareness: Many Indian consumers may not be aware of lab-grown diamonds as an alternative to natural diamonds, or they may not fully understand the differences between the two.
- Traditional mindset: India has a long history of diamond cutting and polishing, and natural diamonds are seen as a traditional and prestigious choice for jewelry. Some consumers may still prefer the status associated with natural diamonds over lab grown diamonds.
As a jewelry brand, we knew we had to do our part in generating awareness about this new age sustainable product.
A lot of competitors in our industry started carrying out small online & offline campaigns for Lab Grown Diamonds.
We soon realised that the Lab Grown Diamond space is getting competitive day by day.
To outrank our competitors, generate more sales & increase our visibility, we knew we had to try something DIFFERENT.
That’s when we came up with THE CONSISTENT CONTENT APPROACH
An approach towards creating informative & engaging content on a regular basis, with serious goals & plans drawn out.
Here’s how it works:
STEP 1: IT BEGINS WITH A PROBLEM STATEMENT.
Most of our clients had a similar question.
“Are Lab Grown Diamonds real?”
The simple answer to the question is, a thousand times YES! Lab Grown Diamonds are the same as Natural Diamonds, the only difference is the method of producing them.
Lab Grown Diamonds are created in a controlled lab environment, whereas Natural Diamonds are mined from below the earth.
For example: Major jewelry brands all over the world are accepting and introducing lab grown diamond jewelry into their product lines.
STEP 2: GATHERING & PUBLISHING AS MUCH
CONTENT AS POSSIBLE!
After identifying the problem, we knew that our potential customers had a lot of unanswered questions when it came to Lab Grown Diamonds, the reason being, no brands were really creating awareness about the product at a huge scale, and this left the consumers in pit of uncertainty.
To understand the consumer psychology, we used a lot of content platforms (very selective) to help potential customers understand the concept of this new product because content was the only answer to this problem.
Instagram is a GOLD MINE!
The true power of Instagram is unidentified by a ton of companies.
With the rise of short form content and with over 1 billion monthly active users as of 2021, the attention span of the audience is decreasing day by day. As a business, using this social media platform to YOUR advantage can explode your growth when it comes to online sales!
Instagram worked for us with a 100% Hit Rate. By uploading short informative videos, styling tips and a lot more easily relatable content, we gained 38K+ followers in record time.
- Hootsuite found that Instagram engagement rates are 10 times higher than those on Facebook, and 84% of people on the platform use it to discover new products.
- According to a survey by Facebook, 90% of Instagram users follow at least one business account, and 83% of users discover new products or services on the platform.
- Sprout Social reported, 71% of businesses in the US use Instagram, and 90% of those businesses say that Instagram is important to their social media strategy
Google, A SUPERGIANT indeed!
When it comes to leveraging your consumer data at the highest levels, YOU need to add the Google Ads in your marketing strategy.
It is a powerful digital marketing tool that allows businesses to reach a massive audience, target their ideal customers, and drive more traffic to their website, making it an effective way to scale online sales.
- Offers a variety of ad formats, including search ads, display ads, video ads, and shopping ads, allowing businesses to showcase their products or services in a way that fits their goals and budget.
- Provides detailed performance metrics, such as click-through rate (CTR), conversion rate, and return on ad spend (ROAS), allowing businesses to track the effectiveness of their campaigns and make data-driven decisions to optimize their results.
Since the launch of our online website, we have witnessed 3.9M+ sessions with 2.7M+ new visitors and this has helped us generate a significant amount of revenue, in addition to the massive customer data base created!
According to Google, businesses make an average of $8 for every $1 spent on Google Ads, demonstrating the high ROI potential of this advertising platform.
Facebook, another DATA MINE!
Facebook has over 2.9 billion monthly active users worldwide, making it the largest social media platform in the world.
It’s advertising tools allow businesses to reach their ideal audience based on demographics, interests, behaviours, and more, making it easier to target potential customers.
According to a survey by Hootsuite:
Online gamification involves adding game elements, such as points, badges, and leader boards, to non-game contexts, such as online shopping or brand engagement, to make them more engaging and interactive.
By incorporating gamification into YOUR digital strategy, your businesses can increase customer engagement and loyalty, leading to increased sales and revenue.
Some interesting facts:
- In India, the digital user base is rapidly growing, with over 700 million internet users and over 500 million smartphone users as of 2021.
- The e-commerce market in India is projected to reach $200 billion by 2026, driven by factors such as increased internet penetration, rising disposable incomes, and the COVID-19 pandemic accelerating the shift to online shopping.
A list of Online Gamification tools that YOU can use to scale your business:
- Loyalty Points- Helped create a loyal.
- Spin The Wheel- Engaged online visitors to play & win exciting discounts.
- Website Quizzes- helped us understand the buyer persona.
- WhatsApp Games- Generated 6 figure revenue stream for us.
- Shoppable videos- Helps viewers directly purchase a product while viewing the product.
STEP 3: CREATE A BRANDED SOLUTION
Generating awareness consistently through social media platforms is just a piece of the pie. The game changes when you create a ‘branded solution’ for YOUR customer.
It helps establish a unique identity & sets them apart from competitors.
To help consumers accept and learn about Lab grown diamonds, we created a branded solution called the ‘Test Tube Diamond.’
Just like Test Tube Babies are born in a lab and are real, the same way, Lab Grown Diamonds are produced in a Lab and are real!
A branded solution not only meets the needs of the customers but also reflects the values, personality, and message of the brand which increases their loyalty towards the brand, and ultimately leads to higher growth and revenue.
- Forbes reported that strong brands outperform their competitors by nearly 80% in terms of total return to shareholders
- Lucidpress says, consistent branding across all channels can increase revenue by up to 23%.
- Interbrand showed that strong brands can command higher prices and create stronger customer loyalty, resulting in a 2x higher market share and a 2.5x higher growth rate than weaker brands.
Today this unique approach of promoting a branded solution to a critical problem in the industry has helped us:
Serve 5000+ happy Lab Grown Diamond customers.
Rank number 2 on google for the keyword ‘Lab Diamond.’
Please let us know if this step-by-step guide helped you generate more sales for your business by creating a stronger online brand presence.