Case Study
Key takeaways
- A successful, digitally-native jewelry brand sought new avenues for growth and recognized the need for deeper customer data to confidently build its expansion strategies.
- While third-party data providers offered helpful insights, the data was often too general to inform precise marketing and expansion efforts.
- Qloo’s detailed taste intelligence data significantly expanded the jeweler’s understanding of its customers. This not only helped increase the lifetime value (LTV) of existing customers but also enabled the brand to identify and target new customers who resembled their best clients.
- Qloo’s location-based taste intelligence also allowed the brand to pinpoint where affinity for its brand, and its competitors, was highest. This crucial information helped the jeweler make informed decisions about physical retail store placements, reducing the risks associated with these important investments.
In the crowded jewelry industry, one digitally native brand created a name for itself by offering bespoke pieces at more affordable prices — a unique proposition that quickly attracted female clientele living on the East and West Coasts. As this successful online retailer charted its growth plan, however, it soon realized that a limited understanding of its current and future customers could hinder continued success.
To support ambitious revenue growth goals, the brand knew it needed to expand its appeal to two key audiences: women in Southern states and men. The company’s leaders also aimed to embrace an omnichannel strategy that included expanded online sales and also brick-and-mortar retail locations in key markets. Additionally, the retailer sought to strengthen their relationship with customers who had trusted the brand for high-end engagement rings but had not yet bought accessories for everyday wear.
Establishing these key growth priorities was only the first step. Now, the brand needed to determine the best way to execute them. How can it best appeal to women in Georgia? Where exactly should it invest in real estate? How should it re-engage customers who bought engagement rings in the past 24 months?
The jewelry brand partnered with well-known third-party data providers to start gathering the data it hoped would answer these questions. By enriching their first-party data with these partners, the retailer gained interesting new information about their customers. Do they enjoy gourmet cooking? Do they commute to work? Do they purchase pet food and supplies? While this new data expanded the brand’s understanding of its current customers, it lacked the specificity needed to directly inform marketing plans. This is where its partnership with Qloo became pivotal.
The Qloo solution
To help the jewelry brand gather all the customer data it needed to confidently execute its ambitious growth plans, Qloo deployed its AI-powered taste intelligence engine on the brand’s customer data platform (CDP). Using existing customer data as the input signal, Qloo instantly appended significant details to every record, including female clientele, existing male customers, and clients who had only purchased a custom engagement ring.
As an award-winning leader in consumer tastes and preferences, Qloo provided specific information about the brands, restaurants, stores, music, movies, and more that every customer most and least enjoyed. Armed with this unprecedented level of customer data, the jewelry brand could start creating highly personalized marketing campaigns that resonated with each audience on a deeper level.
The jeweler also used Qloo’s location-based data to pinpoint where affinities for its brand and its competitors were highest across key regions. Qloo’s Taste AI plots consumers’ interests and preferences across geographies, allowing the brand to discover where current and prospective customers are most concentrated, with precision down to specific city blocks. This data-driven analysis informed key markets for expansion and significantly reduced the risks associated with expensive real estate decisions.
Results
This beloved jewelry brand knew its success to date was due to its customer centricity and that maintaining this focus was essential as it expanded. By enriching its customer records with Qloo’s Taste AI intelligence data, the brand gained a new, and much more detailed, understanding of its current customers. Equipped with this data, the company was not only able to market more effectively to existing clientele but effectively target prospective customers that resembled its existing best customers. Further, by discovering taste affinities by location, the brand was able to more confidently identify both broad markets for expansion and specific streets for store placement. This granular level of insight allowed the brand to make data-driven decisions that minimized risks and maximized opportunities.
Polishing the future
By leveraging Qloo’s Taste AI, the jeweler significantly deepened its understanding of customer preferences, enabling more effective marketing and strategic expansion. This enhanced insight has positioned the brand to continue delighting customers and confidently pursue new opportunities, ensuring its ongoing growth and success in the competitive jewelry industry.
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