Differentiation

I’m sure that you’ve heard of the little blue box that represents Tiffany & Co. and you have heard the slogan “Every Kiss Begins with Kay” for Kay jewelers because the are two of the most well known jewelry retailers. We see their company stores in malls or in large shopping districts and see their advertisements on TV where they showcase the most beautiful pieces of the season. So how do they use social media and how are their strategies the same?

Kay Jewelers, the chain operated by Sterling Jewelers Inc. of Akron, sure gets a lot of social media love. Nearly 800,000 people have clicked that they “like” the Kay Jewelers Facebook page, as of 2013 (Byard, 2013). Today Kay Jewelers has over 1.3 million followers of their page! Sterling Jewelers Inc founded Kay Jewelers in 1916 and is one of 9 branKay Jewelersches of jewelry stores that Sterling Jewelers own (Bloomberg Business, 2016). Kay Jewelers have been perfecting their brand for over 100 years, they have grown with the times and have worked their way into the social media world. Kim Kanary who overseas the company’s social media accounts said, “Social media gives us the opportunity to engage with our customers in a very unique way,” Kanary said. “It builds those relationships,” that she said can lead to “brand advocacy,” i.e., sales (Byard, 2013). This shows that Kay Jewelers and Sterling Jewelers understand the importance of using Social Media to help drive customers to their stores and potentially purchase merchandise.

When browsing through Kay Jewelers Facebook page you’ll notice that they advertise sales on various items to help make the holidays or season more special. Currently Kay Jewelers is offering 20% off ticketed prices of all Bridal Jewelry, this helps potential customers save on larger ticketed priced items that they may not have been able to afford. This helps those customers make the event more special by being able to get a bit of an “upgrade” to what they thought they’d be able to purchase. This goes for all the sales Kay’s puts on and not just bridal. Around the holidays typically you can see the same type of promotions but on necklaces, bracelets, charms or watches to help enhance the holiday season for you special someone.

Tiffany & Co. is created by Charles Lewis Tiffany and John B. Young (then known as Tiffany & Young, a stationery and fancy goods emporium at 259 Broadway in New York). All items were marked with a non-negotiable selling price, which was a first at that time. The first day’s sales total $4.98 (Tiffany & Co, 2014). Tiffany & Co. is mostly known fro12743540_10153558850023068_6540168024587167247_nm their high-end designs and big price tag. Most woman would love to receive a Tiffany’s Blue box with a gift inside because that’s a symbol of something elegant.

Tiffany & Co. has more than four million fans and generally posts one update per day or fewer. A vast majority of posts are simple product images or albums complete with links to its ecommerce page (Moth, 2013). Today Tiffany & Co. has over 8.4 million followers on their Facebook account with over 300,000 visitors to their stores who have “check-in” while shopping or just visiting their stores. It is common for Tiffany & Co to get thousands of interactions per posts on just product photos or updated advertisements, his high number of interactions is probably due to the fact that Tiffany & Co. is an iconic, aspirational brand that people want to be associated with, therefore they’re happy to give a $10,000 necklace a digital thumbs-up (Moth, 2013).

Unlike Kay Jewelers, Tiffany & Co. does not advertise special discounts to drive customers into their stores to purchase. Tiffany & Co has a target market of higher end customers that may purchase on a regular basis where it might not be affordable to the middle class unless someone saves up. Kay Jewelers understands that people should be able to afford beautiful jewelry that does not break the bank. Both companies advertise to their type of clients in their own way or help those who like the brand see more of it in a digital way.

References:

Byard, Catie ( June 15, 2013). Sterling Jewelers Find Social Media goes well with Jewelry. Ohio.com. Retrieved on March 17, 2016. Retrieved from: http://www.ohio.com/business/sterling-jewelers-finds-social-media-goes-well-with-jewelry-1.406215

Moth, David (August 20, 2013). How Tiffany & Co. uses Facebook, Twitter, Pinterest and Google+. Retrieved on March 17, 2016. Retrieved from: https://econsultancy.com/blog/63262-how-tiffany-co-uses-facebook-twitter-pinterest-and-google/

Tiffany & Co. (n/d). Timeline. Brand Tiffany & Co. Retrieved on March 18, 2016. Retrieved from: https://brandtiffanyandco.wordpress.com/timeline/

 

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