Planning to start an online jewelry business during a pandemic? Here are some mistakes to watch out for.
Selling jewelry online is now more practical than selling in a brick and mortar shop. Because of the pandemic, people now have shifted to shopping virtually in order to avoid exposure to people. Online shops are fun, as you can conduct business right in the comfort of your home. However, there are common mistakes businesses make that some just don’t make it big.
Learn ahead; here are some of the commit mistakes to avoid when starting a jewelry business online:
Not researching the market and target audience
Researching on the market and your target audience is very crucial. You should find out what type of retail or wholesale fashion jewelry sells well online, the costs, and who your competitors are. Do not sell jewelry items that you think are appealing to you. Instead, pick jewelry that is appealing to your target market.
There are many ways to do market research, and one effective way is to conduct surveys. Ask friends and family to answer your surveys or create one online and ask potential customers to participate.
Not having a consistent business plan
Some businesses think there is no need for a business plan because it's "just" an online business. However, an online shop is still a legitimate business, and not having a plan might put all your efforts down the drain.
There's no need for a complicated jewelry business plan. Be straightforward about it; consider your brand’s personality, the type of jewelry you want to sell, the cost of items, your budget, and your target customers. Every element has to be planned out, so everything will be in order, lowering the risks of problems in the future.
Spending too much on social media ads
Facebook and Instagram can be fun to create. However, these should be done in moderation. You might just be spending too much on these ads that you forget about your ROI. Once you’ve built credibility and have a good number of followers, lay low on the ads for a while, and focus on other aspects of your jewelry business.
The same goes for other promotions too. Instead of giving away jewelry pieces as freebies, you can give away copies of jewelry cleaning guides or give access to an exclusive jewelry community.
Forgetting to respond to inquiries
Neglecting customers’ messages is a big no-no. These potential customers may lose interest in your brand and look for jewelry elsewhere. As with any businesses, you should provide an excellent shopping experience for your customers. Your goal is to make customers love you enough that they recommend you to all their friends and family.
Aside from responding to questions, always interact with your customers. Doing so increases customer trust and loyalty and the chances of them giving you a five-star review.
For more jewelry business advice, follow this blog! In case you need to restock your inventory with the freshest and trendiest jewelry pieces, head on to CeriJewelry.com.