This article explains the steps involved in successfully selling jewelry online.
You will definitely learn a lot to help you with the process, especially if you want to make a lot of money selling jewelry on the Internet.
First things first…
Do you like jewelry?
Have you ever thought of selling jewelry?
Would you like to set up an online business that works on autopilot?
If any of these questions apply to you, you might want to consider selling jewelry online.
It is a fast-growing segment of the multibillion-dollar e-commerce industry. If you were to break down all the products sold online, a full 29% of those goods are in the jewelry and accessories category.
That’s how big online jewelry sales are but before you jump in, please understand that it’s very easy to fail. You have to come in with a solid plan by following the steps below.
You can increase your chances of success in this hyper-competitive segment of e-commerce.
1. Be Clear on the Type of Jewelry You Would Like to Sell
It’s one thing to get excited about jewelry that you would like to wear but making money selling jewelry online is entirely another thing.
Don’t confuse the two. Just because you’re excited about a certain type of jewelry doesn’t mean that it will automatically sell.
Research the current trends in jewelry and accessories to see which types are selling well and if you are personally interested in them.
The key is to build your business on jewelry that has existing demand which you can also be passionate about. What are the different types of jewelry that you can sell?
Online jewelry sales can be broken down into vintage jewelry, costume, handmade, or fine jewelry.
2. Pick Your Target Market
Now to have a good idea of what you would like to sell, the next step is to figure out which audience demands that type of jewelry.
Are the goods that you’re going to be selling are geared more towards men or women?
Figure out the age range of your target audience. Do your research and see which demographic age groups are more likely to buy your wares who are.
Then, look at the buying habits of your target audience. You already know what their gender and ages are.
Finally, figure out how they normally buy jewelry and other habits.
3. Put Together a Brand
The online jewelry industry is very competitive. You will not succeed if you’re just going to offer a no-name brand.
It’s going to be harder for you to succeed if you’re just going to offer a no-name brand product. Why? If your customers cannot tell the difference between you and other sellers, what do you think they will focus on?
They probably won’t focus as much on the quality because this selling point is probably going to be the same as your other competitors. Their main focus would be the price.
It’s always a bad idea to compete based on price unless your company is big enough. You don’t want to find yourself caught in a race towards the bottom.
This is where creating a unique brand comes in. Since you’ve done extensive research on who you’d like to sell to, what their habits are, as well as their age range, now, you have to come up with a set of values that you would like to appeal to.
In other words, knowing what you know about your target audience members. How can you segment your market so that you can appeal to the needs that they have when they go out and buy jewelry?
That’s what a brand is. It’s not just a logo, a fancy drawing, or nice calligraphy, it’s more than that. A great brand is a summary of all the values that you are appealing to being your product.
You have to decide on what these values are so you can come up with the right logo and packaging. This means factoring in the market segment that you’re trying to appeal to.
Are you looking for high-end buyers? Well, their values are going to be different from people who are just looking for a bargain.
So it’s really important to present your product in such a way that it appeals to the values of the customer base you are trying to reach.
Not only should your logo be consistent with these values, but the same goes for your website, your packaging, and everything else that represents your product line.
4. Find the Right Suppliers and Start Cutting Deals
Now that you have a good idea of the type of jewelry you want to sell and the specific custom-crafted brand you would like to use, the next step is to find some tried and proven suppliers who can produce jewelry that is worthy of your brand.
You can start with Alibaba and other online platforms. Some American manufacturers are closer to home that you can reach out to.
The key here is to get a good understanding of how much your initial cost will be per product unit. You can also buy a prototype that you can take pictures of for your website as well as your online marketing campaigns.
You need a really good sample product which presents your brand in the best way. You should also talk to companies that produce packaging.
If they’re able to make your brand look special with their packaging, the higher the perceived value of your customers will be of the jewelry you’re selling.
You have to make a very important decision at this point.
When you’re researching manufacturers and suppliers, you would have to make a key decision at this point in the formation of your business.
Are you going to outsource manufacturing? Which means you’re going to pay a third party manufacturer to produce your jewelry.
Or are you going to go use a “white label” manufacturer? This type of manufacturer produces products for many different clients who have different brands and packaging.
The great thing about this type of “white label” manufacturer is that they already know how to manufacture your jewelry.
Also, they probably already know how to package it because they have been doing this for other sellers.
Also See: Illegal Ways To Get Paid Online… and why they are not recommended!
5. Set Up Your Online Jewelry Selling Platform
A lot of newbie online jewelry sellers think that as long as they set up space on an online marketplace like OLX, Shopify, Etsy, or Amazon, that they have a complete online presence.
This is not true. You need to also have a specific home website for your brand. While you may be found on many different online marketplaces like Amazon, eBay and Etsy, since you since the value of your product turns on your jewelry brand, that brand must have a specific home.
This is your website. You probably wouldn’t sell anything on your website, but it’s full of good looking pictures of your full jewelry line.
List on your website the places where buyers can purchase your product line. Regardless of whether you set up a specialized website or not, you have to take excellent photos of the jewelry you’re selling and post them on all the platforms you’re using.
This is important because jewelry is ultimately cosmetic. Most people buy jewelry because they think these items make them look good.
Accordingly, you have to invest in professional photos that present your offerings in the best light possible.
6. Set Up Your Platform Presence to Sell Your Jewelry
Setting up a page for your products on Amazon, Etsy, or Shopify is not enough, you also have to invest in this quite high-quality description of your products. So people who are in your target audience can easily identify the brand values your wares can bring to the table.
You cannot just copy and paste generic, lifeless, and dull descriptions that your white label manufacturer produces because chances are, your competitors are doing the same.
You want to stand out from the crowd. You want to make it loud and clear to the people you are positioning your brand toward to understand the values that your product brings to the table.
The only way to do this is to invest in high-quality product descriptions. This is not just a checklist item that you just need to go through, this is crucial because next to the photos of your jewelry, your potential buyers or customers will make their decision based on what they read.
You have to appeal to them, trigger their emotions, and get them to position your product in such a way that they would be motivated to buy your goods. That is the bottom line.
7. Launch a Sustainable Marketing Campaign
When you’re selling anything online, you have to put together a sustainable marketing strategy. First, you’re going to have to invest in paid ads which are almost unavoidable because of competition.
Depending on how well you did your market research, the specific type of product that you’re specializing in may not need much promotion. It all depends on your target market segment.
Regardless, you have to have a marketing plan going in. So, what you need to do is to divide your marketing campaign between paid and within the paid section, you’re going to have to break down which channels you’re going to spend your advertising dollars on.
The idea is to initially spend some money on paid advertising to get the word out and get an initial customer base going.
But eventually, by focusing on customer service and getting people to come back and possibly spread the word about your online store, you will build an organic flow of buyers who will hear about you since people share content on social media platforms like Facebook or Instagram.
However, the key is to jumpstart the whole process by taking out some paid ads.
8. Optimize Your Jewelry Selling Business
After a few months of operation, you would know which of your marketing campaigns are working and which ones need some improvement.
Also, you would be able to spot which ones are best sellers and which ones do not sell.
After some time, you should gear stores towards items that sell well. For example, it turns out that most of your charms sell well but nobody wants to buy your rings.
When you’re updating your stores on many different platforms, you should shift your product line towards charms and drop rings altogether.
When you do this, start figuring out which types of charms sell consistently and then order more of those types of charms.
This way you build on your success and you will learn from your mistakes.
Success doesn’t happen overnight. You have to be willing to learn and experiment.
By following the steps above, you will be able to set up a business that can change and adapt to your customer’s needs.
If you commit to serving your customers, they can be loyal to you which can ensure your success.