The jewelry industry is crowded. In an age where you have to make your brand stand out to have a shot at success, one of the best tactics is to pursue a jewelry collaboration. Partnering with a celebrity or influencer can make a huge difference in your brand recognition and overall sales success. In this article we’ll explore why these partnerships can foster growth for your jewelry business and discuss how to create effective jewelry collaboration opportunities.
Why Create a Jewelry Collaboration?
A jewelry collaboration is a partnership between a jewelry brand and another party, like a celebrity, influencer, or another business. The two parties collaborate to design and produce special jewelry that represents both the business and the celebrity or influencer they’re working with. The goal is to create something new that appeals to both fan bases and gain business for both parties — by collaborating in this way, you and your partner both win. Here are some reasons why you should consider this kind of partnership:
Gain Credibility and Cache
Joining forces with a celebrity or influencer can establish credibility for your brand. Customers have their pick of any brand to purchase from in a saturated market. When they recognize your collaborator, whatever sense of trust and fondness they already feel for that person will be transferred to your brand. Attaching your brand to a known, credible figure can boost perception of your brand and attract new customers. Working with a known collaborator can also boost your brand’s caché. Influencers’ audiences want to be like them, look like them, and wear the jewelry they wear. By joining forces, your audience will associate your new jewelry collection with all the accolades of your partner.
If your brand is feeling stuck in the mundane, collaborating with a celebrity or influencer can be just the thing you need to generate some novelty. Creating something fresh, exciting, and new can mix things up for your collection and produce the buzz your business needs.
Find a New Customer Base
One of the biggest perks of partnering with a celebrity or influencer is that they come with a dedicated, engaged, and loyal following. When you partner with a popular figure, you’ll have access to an entirely new base of loyal customers who are excited to support their favorite celebrity in a new way.
Launching a limited collection creates a sense of urgency for customers. Limiting the supply encourages customers to purchase quickly, in case they miss their chance. This is why flash sales are successful, and why limited edition products sell quickly. Creating a limited collection with a celebrity will ensure that your customers pounce on the opportunity to make a purchase so they don’t miss out.
How to Find a Collaborator
Ready to make all of these benefits a reality? Like any good business tactic, it will take some strategic planning. Let’s look at some helpful tips for how to approach your next jewelry collaboration:
- Research. First and foremost, conduct research on celebrities and influencers that fit your brand aesthetic and values. Look for someone popular among your target audience.
- Reach out. Make contact with the collaborator or their team to gauge interest and fit. Be clear on what you're proposing — is it a limited edition collection? Are you co-designing the pieces together? Will you be featuring the celebrity in your brand’s advertisements? Do you expect your collaborator to promote the collection on their platforms?
- Make a deal. If they're interested, work out the business terms. Will you offer your collaborator a percentage of sales? A flat fee? Free product? Figure out your financial agreements, production timeline, marketing strategy, and distribution plan.
- Collaborate cohesively. Develop the creative direction to ensure that your partnership flows smoothly. What story do you want to tell? How can the pieces you produce reflect your collaborator’s brand as well as your own?
- Be flexible and compromise. A collaboration is about blending two perspectives and visions. Listen to your collabortor’s input and ideas, and be sure to keep an open mind.
- Plan the launch and rollout. Work with your collaborator to decide when and how to announce the collaboration, marketing events, and social media posts. This is the time to hype up the new jewelry! Use the star power of your celebrity or influencer partner to really make waves in marketing.
- Keep it going. If the collection proves to be successful, consider an ongoing partnership. But be aware of over-saturation; keep your collections limited and rare so that your collaboration maintains its novelty and urgency.
Creating a jewelry collaboration with a celebrity or influencer can help grow your business in exciting ways that might not otherwise be possible in a saturated market. Partnerships can help your jewelry brand to get a foot in the door and gain a following. When you’re ready to produce your new collection, partner with MJJ Brilliant. Our fine jewelry manufacturing company has over forty years of experience producing top-quality pieces. Contact us today to find out how our team can bring your jewelry brand partnership to life.