2006 may go down as THE defining moment in the jewelry industry. No longer is the handwriting on the wall. As a matter of fact, it filled the entire wall on the side of the building we passed several blocks ago. The companies that can articulate a clear brand promise are growing and the ones that can’t are going extinct. Branding in the jewelry industry is now a part of the fabric of how to best market to an evolving consumer.
But, I can hear you say, “The business landscape in our industry is littered with failed brands”. Remember Kung Fu? “Ah yes grasshopper, but those who see the signs, know of unbridled (no pun intended) growth for the future.” There are great new and not so new jewelry and watch branding efforts that are exciting today’s consumers with fresh promises of experience and performance. Congratulations jewelry industry! Welcome the digital age where it ain’t about availability anymore, it’s about what makes you different.
Jewelry brands like Hearts on Fire, Simon G, Chimento, Scott Kay and Ritani were not even in the consumer vernacular just a generation ago. Old watch brands like Raymond Weil and Tissot are seeing resurgence and are now having to share mindshare with consumer names like Kenneth Cole, Fendi and Tommy Bahama. And we haven’t even mentioned the retail brand. Savvy jewelers are now realizing the power to connect with their customers when they position themselves with the manufacturer brands that they offer. But don’t think that this is just a fad. This is what the new digital native consumer wants to buy. And this is how profitable marketers are growing.
With consumers flocking to emerging communication venues and the rising costs of advertising, is it any wonder why jewelry and watch brand managers need a new approach? Professional brand managers need to become branding gorillas. Thus is born the Brandzilla.
Here are 5 traits that I believe a brand manager needs to have to be considered a Brandzilla.
1) A Brandzilla understands the need to embrace new marketing channels to communicate their brand promise and that the web needs to be a part of their brand’s future.
2) A Brandzilla demands the most out of their brand’s marketing spend.
3) A Brandzilla wants to dominate their part of the retail jungle.
4) A Brandzilla knows that his consumer is changing!
and
5) A Brandzilla understands the importance and nourishes the relationship between the retail brand and the manufacturer brand.
Last year when I sent out our “Wake Up Call” newsletters, most of the feedback and questions that I received revolved around branding issues. At the Duratran Co., we deal with more jewelry brands than anyone in the world. And we do it on a daily basis. Brandzillas was created to help the industry communicate their problems, ask questions and help solve the issues as jewelry and watch branding evolves in the upcoming years.
In future blog updates, we plan to discuss all types of issues that effect branding in our industry. Topics like store design, displays, packaging, product mix, signage and sales training will be discussed. We want you to feel free to contribute to the discussion. Your comments are what will make this new communication tool a valuable asset.
Here's to going bananas and becoming a Brandzilla in 2007!
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Just a quick note to say I enjoyed the newsletter. I had not seen one for a while and was missing them. I also think a key to being a brandzilla is discipline. The discipline to know your brand positioning and staying true to that positioning. Too many times in the quest for growth a brand may take on marketing and distribution opportunities that do not enhance or compliment their brand image and positioning. In fact, the wrong opportunity may give the consumer the wrong impression of your true positioning. Every partnership, communication and point of sale becomes an input in the mind of the consumer as to what you brand image and positioning is. Proactively or opportunistically, take on opportunities and communications that are in line with your brand positioning. I believe a brandzilla needs to have the discipline to focus on supporting the brand positioning with every marketing dollar spent and distribution point gained as well to say no to those that do not.....choose wisely grasshopper.
Take care and keep the newsletters coming.
All the best in the New Year.
Matt Lopez
GPS Marketing
Esher KT10 0QD
United Kingdom
Posted by: Matt Lopez | January 04, 2007 at 08:56 AM