I discuss how you can be a caretaker of your customer data, especially with all the changes happening with social media in the coming months. Too many brands have gotten to the point where they're leaning heavily on their social media channels to build relationships with customers. For example, they're relying on Instagram DMs to manage customer engagement and conversations. Or they have been relying on Facebook retargeting ads to ensure they can get back in front of customers who have shown interest in products.
However, Instagram is changing rapidly and, as a brand, you have to operate with the mindset that what's here today could be gone tomorrow. If Instagram were to shut down tomorrow, would you lose valuable customer data? In addition, changes to data privacy are limiting marketers' ability to run retargeting ads on Facebook and Instagram, so if you relied on those types of ads in the past, you'll lose your ability to do so in the very near future. Listen to hear my tips for caretaking your customer data, so you're not so dependent on these platforms.
In this episode, I discuss the role of a discount pricing strategy in jewelry marketing. Should you be offering discounts and promotions? If so, how much of a discount should you offer? And how often should you be offering discounts? Listen to better understand how to handle special offers and promos for your jewelry brand.