They Love Me, They Love Me (K)not

Have you been waiting with baited breath?  Are you one of those few lucky jewelers who were approached to buy-in to the newest and greatest DPS initiative?  Did you perform the secret handshake?  Promise to give up your first born child if you told anyone about the biggest marketing program ever?  Did you sign on the dotted line and promise till death do you part that you would never, I mean never talk about this new promotion so innovative only those chosen would be are able to bring it to market?

Finally, DeBeers announced their exciting fourth quarter promotion on September 1, 2009 and after all the scuttlebutt, it turns out to be (drum-roll, please)…a knot.  And worse yet, called the Everlon Diamond Knot. Everlon?  Sounds like a new sauté pan from Emeril Lagasse.

Okay, I get the industry needs a big, audacious idea. I get that marketing “beacons” like Journey, Right Hand Ring and Past, Present, Future have shown the greatest growth in the diamond industry.  Although, let’s not give anyone a big pat on the back for the Right Hand Ring concept.  They may have sold in-store, but the premise of it being a female self-purchase item was definitely flawed. It proved that even the greatest marketing minds are sometimes very out of touch.  Which makes me question this Everlon thing.

What I don’t understand is all the fear-mongering that has preceded this product debut. Confidentiality agreements aside, the truth is, pay for product and $3000 per store to “support marketing” and you’re in. There’s your selectivity. What was the criteria for being asked? Isn’t the goal of DPS to promote the diamond message for every jeweler?  After all, they are the DIAMOND PROMOTION SERVICE.  Is this really the time to not be inclusive?

To add insult to injury – aside from the very bad name, it’s being distributed at every major chain (of course) and Sam’s Club.  What I find so ironic is this statement from the Rapaport meeting that just took place on the “New Realities in the Diamond World” reported by JCK Online September 11, 2009:

Suggestions for retailers came from bankers like Ellis, who advised jewelry store owners to differentiate products from chains…

Not so fast Everlon.

And what about the marketing? For those of you who have coughed up the $3000 per store plus product, you’ll be given the opportunity to “tag” the DPS national commercial. Not only will you probably have to pay for the commercial (even if it’s a small amount) and the production to tag it, you’ll be promoting 90% of their product and 10% of your brand with your own money.  And in some markets where it’s really not so exclusive, it will look like the same commercial running on the same channels for other jewelers.  It’s totally insane.

JWT (the advertising agency for DeBeers) will produce an advertising campaign that will ostensibly make having this knot design a jewelry must-have.  So, I get why you want the product. I have every faith the creative will be beautiful and women all over the world will be delighted to receive one. I’m simply not understanding the process.

Times are not wonderful.  The DPS should be out there developing a fabulous campaign; making sure all retailers have access to appropriate product; and dismiss this idiotic notion of selectivity.

As I see it, that’s their damn job. Sam’s Club.  I just can’t get over it.

I’d love to hear your thoughts.  Email me at ellen@fruchtman.com.

Note:  Everlon was selling online as of September 2^nd – one day after the announcement.

---

By Ellen Fruchtman on September 15, 2009 :: Filed under Grow, Marketing Planet
Both comments and pings are currently closed.

---