Preparing To Launch an Online Jewelry Storefront
Today’s small businesses need to grapple with the changing reality of retail as ecommerce continues to grow, and there is no industry that has proven to be an exception. Even high value products like jewelry have come into high demand for buyers online, because shopping on the internet does not require proximity to the brick-and-mortar store. That means discerning customers are no longer constrained by local offerings.
Preparing for Your Online Launch
Whether you are opening a new storefront or just launching a new online sales effort for an established business, preparation is the key to profitability, especially with online sales. You have the opportunity to attract customers beyond your local reach, but they also have options beyond theirs, and that makes competition stiff.
If you already have a core business plan you have been following, it’s time to update it to include your online efforts. The best way is through the creation of an online roadmap, similar to your launch map for the brick-and-mortar store.
- Identify potential customers
- Research what makes a customer decide to buy high value items online
- Assess new risks that come with online sales
- Implement systems for orders that include risk mitigation
It’s a simple addition to your existing business plan, but an essential one. With these elements mapped out, deciding on a way forward for marketing and lead generation becomes a lot easier.
Who Buys Jewelry Online?
The first major question is who you will be trying to reach with your lead generation and marketing efforts. That includes both demographic information and likely price points that appeal to the customer. You need to acknowledge what portion of your potential customers are bargain hunters seeking deals that are below your profitability threshold. Just don’t worry about reaching them. Similarly, understanding how extremely rare items appeal to a niche market means understanding that you will likely do more business in traditional but high-quality gifts like engagement rings or tennis bracelets.
The remaining potential clientele can be divided into two camps, those who are actively seeking your product and those you need to make an appeal to if you want to make a sale. They are the ones you need to focus your marketing on. Typically, for online sales, that means adults who have grown up with digital storefronts at their fingertips. Selection is an important factor for them, but so is value. If you can provide both, you will be well on your way to closing a sale.
Risk Management and Building Trust
Trust and risk assessment are important for both sides of the transaction when it comes to online shopping, so you need to build processes that cultivate trust with customers while protecting your own interests. The art of cultivating trust in online transactions is so important, it has been extensively researched, and there are a few key strategies that work well for all involved.
- Automatically insuring high value items as part of your shipping process
- Using recipient verification tools like a signature requirement on delivery
- Up to date data security practices to protect customer information
- Satisfaction-oriented customer service
Together, these practices cover the core components of building trust, which are integrity, ability, and benevolence. Your business needs to show customers that it has their interests in mind, that you can protect their information and provide a secure transaction, and that you have integrity as a company.
Business Practices for Security and Trust Cultivation
The right comprehensive software solution can go a long way toward building trust and protecting your company’s interests at the same time. A comprehensive jewelry POS system provides you with the means to track orders, organize customer information, take payments, and manage your inventory, all in one system. When you invest in a secure platform for online sales that has your industry in mind over a generic ecommerce platform, you also get unique features that are designed with your industry in mind.
As you move into digital marketing efforts like building informational content into your website and establishing a social media platform, communicating the core elements that go into building customer trust can be a great tool to reach people. It sets your business apart from the competition, and it also provides those who have yet to decide whether or not to make an online purchase with the assurance they need to move forward.