Hey, thank you for doing this and taking the time! I will give a quick brief about my business, BKNJ is a luxury jewelry brand based in the US. Price range is 80$ to 500$, the jewelry pieces are of the same quality as top brands that sell x4 the price. Quality and price ratio been possible because I utilized rare manufacturing overseas with advanced logistics to have products available to the US market. With that being said, marketing and obtaining sales are my number 1 priority. Other than paid ads like meta, organic socials and google, what ways would help create credibility and achieve sales with that price range in the US market. To simplify my question, if you are the CEO of www.bknj.co , what would your plan be to sell and scale? Thank you!
Thank you for joining us. I have some experience in the jewelry industry, since my family used to sell silver jewelry and then, later, piercing jewelry. Broadly speaking, it sounds like you’ve already hit the standard marketing channels so you’ll need to get creative to find new ways to gain exposure. Now, you asked a couple of questions that I’d like to respond to specifically:
- How can you increase credibility? This is a tough question. You can do a lot to improve your credibility, some things big and some things small. One big improvement would be to include a lot more ‘story’ on your website. Selling higher-end products requires a lot more collateral than selling inexpensive products. Consider taking your top 10 products, and building out a full page product story for each. Another small thing to consider is that it’s unusual for a company targeting a US audience to have a .co domain. You may find that your audience is more comfortable purchasing from a .com website.
- What would I do if I was your CEO? This is tough to answer without knowing the details of your operation, especially in terms of sales volume and inventory costs. However, there are a couple of things I would be curious to experiment with. Firstly, do you have low enough costs that you could offer your products at wholesale? Since you claim to be competitive in terms of both cost and quality, there may be an argument to be made for finding stores that may be willing to buy and resell your products in greater quantities than you can achieve with direct sales alone. Plus, a strong retail presence would help improve your credibility. Another thing to consider is whether or not your lower price point is really a strength in direct to consumer sales. Jewelry can be considered a veblen good, meaning that demand increases as the price increases. It may be worth carving out a sub-brand selling specific products for much higher prices and seeing if you are able to generate the same or greater revenue with fewer total sales.
I hope you find these ideas helpful!
Thank you for taking the time and giving me these helpful tips. I would like to reply back to some of it and see what you think. First off, great points! I wanted to know what you think about the products and the prices. If you could check the products description, look at the prices from a customer stand point and tell me what you think. I love the retail option, other than online retail like amazon, etsy and ebay, who would you recommend I get in touch with?
.com is 100% always a better option but wasn’t available and premium options just too expensive so .co made a lot of sense compared to other possibilities but yes I agree.
Your opinion about the price point since you have history with jewelry making would be much appreciated. Do you think I should stay in that range, increase or decrease even more? Do not consider margins now because we decide the price before actually making the pieces so all of this will be applied in the next production not existing products.
Thanks a lot of your time, it’s really helpful.
My pleasure. 
It’s tough to say if the prices are right, especially without knowing how they really compare to the more expensive options, or other options at your price point. My main thought is outlined above, in the first bullet point. At your price point, you need more. Take a look at how much detail Apple includes on the product page for the iPhone. Look at the number of images and video, look at the complexity of the layout. Look at the number of words. You need to aim in that direction for the product pages to stand out. As for finding re-sellers, it may be worth sending someone to a trade show with some marketing material and some samples. Good luck!