Starting an Earring Business: Your Solid Action Plan
22 Jan, 2021
6 min read
‘Your ears deserve better’ is what the tagline of Tini Lux says. This brand mainly focuses on earrings with pure metals that do not react with the human body.
The founder, Jackie Burke, started her earrings business after she realized there were zero earrings in the market meant for people with metal allergies. Her eCommerce website attracting around 6,000 visitors per month, accounts for 80-60% of sales. Over these three years, she gained a loyal base of followers.
So, why am I telling you this story?
Because if you have a passion for designing earrings, it is time you turn that into a profitable business. Or if you are a well-established business thinking to migrate online, then please note that there’s enough scope for newcomers. This blog is perfect for those who want to learn how to start an earring business online.
You can directly jump to the second section if you want to shift your traditional business online. For starters, you will get a detailed description in the first part.
To start an earring business, a good idea is to first finalize the category. Fashion/costume/trendy/everyday wear/vintage/handmade – so many options. These types of earrings include semi-precious materials, are cost-effective, and impulse purchase. Your potential customer is not going to investigate a lot of details before buying.
Social media platforms like Instagram are meant exactly for such kinds of purchases. The platform’s visual aspects, wider audience reach, and tools to promote a product make it a preferred choice for startups to start selling there.
If your plan is to start an earring business on Instagram, you need a business account, well-thought description, impressive pictures, and a decent idea of how to market. Luckily, the platform offers a feature – shoppable posts that make your task of selling products a lot easier. With this feature, customers can shop directly from your posts. Such posts have a shopping bag icon clicking, in which the customer will see a bubble-like pop up with the price and product name.
Selling on Instagram requires you to create a Facebook catalog with Facebook Business Manager. This means to upload product catalogs on the platform, FB presence is mandatory. Now comes the question ‘how will the customer make a purchase?’ – checkout on Instagram enables them to proceed to payment without leaving the app.
Instagram has more than half a billion active users. This means you have a crowd of potential clients there. A well-planned advertising strategy will help you reach the right crowd.
Does this mean your business can do without an online store? At this stage, it can. Building a website requires investment and time. If you want to start an earring business as a hobby or part-time profession, we suggest you first establish a strong presence on social media. But someday or other, you will need a website to make your brand stronger and reach a wide customer base.
Need help to promote your earring business on social media? We can help you craft a realistic marketing plan.
With the COVID pandemic reshaping buying habits, traditional retail businesses are migrating online. Reports indicate that the jewelry market may reach $480.5 billion in value by 2025. This does strengthen your decision to start an earring business online.
So how do you make this shift? You can sell on social media platforms; you can build an eCommerce store, a mobile app is also another way. Let’s find out what will be suitable for your business.
Customers purchase luxury products like gold or diamond earrings only from trusted brands. They often prefer branded jewelry over unbranded ones. It is very easy to start an earring business on Instagram with millions of users already there, but these are third-party platforms. They may or may not be there tomorrow. The point with these ever changing algorithms, the scenario may not be in your control.
You need an indestructible ‘home’ for your earrings – something that’s your own, something that strengthens your brand identity. With social media, your chances to expand your brand image is limited. You come across as one of the thousands of pages on the platform. They are excellent for promoting your business but to sell, you will need a web or mobile presence. They will help reach a larger customer base, improve customer loyalty. In addition, they provide you with tools to analyze your growth and market your products.
The choice may seem difficult given both have their benefits and challenges. The decision largely depends on factors like target audience, competition, and required investment.
In the eCommerce industry, mobile app users spend an average of 201.8 minutes per month shopping, compared to 10.9 minutes/month for website users. What mostly happens here is users start out checking a website/web app. Once a certain level of engagement, they switch to apps for a better shopping experience. So, to start an earring business online, a smart settlement is to first build an online store. It helps you establish your brand in the digital space. Later, you can develop a loyal clientele by offering AR-led personalized shopping experiences through a mobile app.
If you want to start an earring business online, then we can help you choose a solution that works best for your business.
Do you know COVID-19 has sped up the shift to online shopping by as many as five years? This is the best time to start selling online. Whether it’s deciding what eCommerce solution you need or what marketing strategy to adopt, our team can help you.
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