When you’re wondering how to design jewelry for your brand, it’s important to take into account your target audience. But finding the sweet spot between your design vision and your target market’s needs can be a delicate balancing act. Should you design jewelry that’s super niche and specific to reach a narrow yet dedicated audience? Or should you design with the average consumer in mind and build collections based on popular appeal? In this article, we’ll explore the advantages of each approach so you can decide how to design jewelry for your brand.
Deciding How to Design Jewelry for Your Brand
When you’re making the decision about how to design jewelry, there are a lot of different factors that come into play: your personal interests, brand aesthetic, target customer, company positioning, and business goals. While you weigh different styles and strategies, carefully consider your specific needs as a business. Let’s take a look at some of the advantages and disadvantages of designing niche jewelry and designing for mass appeal.
Niche Jewelry Designs
Designing niche jewelry is exciting because it can be as interesting and creative as you want it to be. Following your instincts to create bold, dynamic, funky jewelry can really pay off when your products reach the people who appreciate them.
When you design niche jewelry, you can charge higher prices since you are appealing to a specific target market that really values your unique designs. The more novelty you provide, the more value you can place on your jewelry. If your designs can only be found in one place, then you’re able to charge more per piece.
Designing niche jewelry allows you to specialize and become an expert in a particular style that resonates with your target customer. This granularity allows you to expand your skills in a particular area and can help you hone in on your craft. You can also take the opportunity to develop a network of partners, designers, and artisans who specialize in complementary ways.
Strong brand identity and reputation
When you’re not competing with mass market producers, you can meaningfully expand your reach. Offering something that consumers can’t find anywhere else allows you to build a strong brand and craft a distinct reputation among your most engaged fans. The more unusual and unique your designs, the more recognizable your brand will become. A unique selling proposition can help you reach new customers who become loyal fans.
Low volume sales
While your niche jewelry is likely to do well with a specific segment of shoppers, the likelihood of selling mass quantities or huge orders is lower. Niche designs often mean lower sales volumes; this can be a disadvantage since you have to work harder to make your sales quota and break even.
Jewelry for Mass Appeal
If a broader customer reach and high volume sales are your priority, you might want to consider designing jewelry for popular appeal instead of for a niche audience. Here’s what to expect when you design jewelry for mass appeal:
Larger customer base
When you keep of-the-moment trends in mind and design for a far-reaching audience, you have the potential to build a larger customer base and achieve higher sales volumes. A larger customer base can lead to higher overall revenue, which means more success for your business.
Though your customer base is wider, you may need to lower prices to stand apart from the competition. If you’re creating designs that are intended to appeal to the majority of consumers, you’re probably not the only brand doing so. This means facing stiff competition, so lowering your prices is a great way to win over customers.
High volume sales
Even if your jewelry sits at a lower price point, your revenue can still grow as you make more sales. Designing jewelry for popular appeal likely means that you’ll gross more orders overall than a niche design would. So despite lower profit margins per piece, you can make up for it in high sales volume.
Another thing to consider is the amount of competition from other mainstream designers. This can sometimes make it harder to differentiate your designs and build a distinct brand, so putting an emphasis on a unique selling point is important. Collaborating with a celebrity or coming up with an interesting angle or story can help you to stand out in a crowded market.
In summary, niche jewelry allows you to better differentiate your brand, customize for your target market, and charge more per item. On the other hand, mass appeal designs open up a wider customer base and potential for higher total revenue, albeit with lower margins. Your decision about how to design jewelry for your brand should be based on your unique values, priorities, and ideal customer.
Once you’ve decided how to design jewelry for your brand, partner with MJJ Brilliant to bring your new collection to life. Our team has over forty years of experience working with successful and up-and-coming brands to develop and produce their products and deliver their customers exceptional value. Contact us today to learn more about how we can help you grow your jewelry business.