A while back I wrote about adding new materials and techniques to expand my line of jewelry in order to compete in the ever expanding world of online sales. There are several reasons why I think it is important to do this. In a growing online marketplace, the competition amongst sellers for the same audience becomes greater and greater. Many new sellers are entering into extremely saturated markets and without a corresponding increase in demand for that product, the product will just sit there generating very little in sales. Business that want to succeed in these markets become challenged to find ways to continue to generate revenue. Some will try to compete on price, some will increase their marketing and promotion efforts to reach a larger, more receptive audience and some will just give up and go home.
My first approach is to offer something new, something that my current customer based has not seen from me before, something that might take an existing product and make it better - make it the next "must have" item without abandoning my current successful product line. This allows me to not only expand my line, but to continue to learn and grow as a jewelry designer leaving my competition behind, scratching their head wondering how to make more sales.
The newest technique/material that I have added to my line is the incorporation of faceted gemstones into existing designs or in creating entirely new ones. I have been creating and selling personalized jewelry for over 2 years and have watched that market dramatically expand during that time. The challenge to set my self apart from all the other sellers is always present. By adding 2mm flush set gemstones to some of these products in addition to creating brand new offerings that incorporate these set gemstones, I am able to offer an enhanced and/or new product that very few of my competitors currently sell - entering into a portion of that market that is currently not saturated.
I have also been including some larger gemstones in a bezel setting into some new designs I have not offered before. Keep a look out for my newest rings and pendants shown in these images.
How can you expand your product line to grow your business?
My first approach is to offer something new, something that my current customer based has not seen from me before, something that might take an existing product and make it better - make it the next "must have" item without abandoning my current successful product line. This allows me to not only expand my line, but to continue to learn and grow as a jewelry designer leaving my competition behind, scratching their head wondering how to make more sales.
The newest technique/material that I have added to my line is the incorporation of faceted gemstones into existing designs or in creating entirely new ones. I have been creating and selling personalized jewelry for over 2 years and have watched that market dramatically expand during that time. The challenge to set my self apart from all the other sellers is always present. By adding 2mm flush set gemstones to some of these products in addition to creating brand new offerings that incorporate these set gemstones, I am able to offer an enhanced and/or new product that very few of my competitors currently sell - entering into a portion of that market that is currently not saturated.
I have also been including some larger gemstones in a bezel setting into some new designs I have not offered before. Keep a look out for my newest rings and pendants shown in these images.
How can you expand your product line to grow your business?
Beautiful designs and jewelry...you are very talented... lovely work...
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