How Tiffany & Co. is Still a Diamond Digital Marketer
As one of the world’s premier jewelry brands, Tiffany & Co. is uniquely placed to demonstrate how other smaller companies in the space should go about marketing luxury products to a global audience.
Way back when, we published a fantastic article which took a deep dive into the Tiffany & Co. digital marketing strategy and revealed how the famous brand drives engagement across its incredibly popular social media channels, prioritizes quality over quantity when it comes to sharing posts, and using augmented reality technology to help customers find the perfect engagement ring.
It's been a while since that article dropped, so we thought it was about time we checked back in with the amazing marketing team at Tiffany & Co. and discovered how their strategy has developed over interceding years.
Collaboration
One way in which Tiffany & Co. has been reaching new audiences through social media channels is by leveraging the power of collaborations. Collaborative marketing campaigns is something which has become increasingly popular in recent years as brands join forces to promote special products and reach new markets.
One of the more recent collaborations established by Tiffany & Co. was a partnership with New York based skating and clothing producers Supreme in the closing months of 2021. The collection the two brands produced featured some of the most iconic pieces Tiffany & Co. has ever produced branded with the Supreme box logo. Replacing the famous "return to Tiffany” tag normally featured on Tiffany & Co. products, the pieces in the Supreme X Tiffany collection instead read, "Please return to Supreme New York 925.”
Supreme X Tiffany went on sale in November 2021 and completely sold out almost instantly, demonstrating how effective bringing together the fans of two brands under a single collaboration.
China
We operate in a global marketplace these days and China is one of the most lucrative markets in the world right now. With a growing middle class and increasing amounts of disposable income, Chinese customers are particularly drawn to Western products and brands.
Tiffany & Co. recognizes this trend and has developed an omnichannel marketing strategy to penetrate the Chinese market – in particular, the millennial population whose customer preferences and digital behavior is driving much of the change when it comes to marketing Western brands in the country.
The strategy is focused on three key pillars.
Firstly, Tiffany & Co. has been creating special shopping experiences in Chinese brick-and-mortar stores, such as its limited wedding store in Hong Kong where customers can access personalized diamond ring customization services. Customers can choose their own diamonds, inlay method, metal, and engraving to craft the perfect one-of-a-kind ring – even Tiffany’s signature Blue Box can be customized.
Tiffany & Co. has also been leveraging the power of celebrities to create buzz around its products. In June, Tiffany & Co. announced young Chinese actor, Yi Yanqianxi was to be a new spokesperson for the brand, and hired another popular actor in the region, Liu Haoran to demonstrate the stacking effect of its key pendants on social media.
In order to penetrate social media in China, Tiffany & Co. knew it must break onto the WeChat platform to succeed. With internet access and many Western social networks being heavily restricted in China, WeChat is by far the most popular app in the country. Taking out ads on WeChat, leveraging celebrity influencers on WeChat Moments, and enabling shoppable content through the platform have all been instrumental in allowing Tiffany & Co. to reach its target demographics in the Chinese market.
With China recently cracking down on the entertainment industry, Tiffany & Co. has also been experimenting with the trend of virtual influencers such as AYAYI, a [slightly unsettling] digital model launched in China by Ranmai Technology in May 2021.
[Image source: Retail in Asia]
"AYAYI is the first "meta-human” launched in China by Ranmai Technology in May 2021,” writes Retail in Asia. "AYAYI has over 790,000 followers on Weibo and Xiaohongshu. Since she debuted on Xiaohongshu, AYAYI has collaborated with global luxury and cosmetics brands such as Guerlain, M.A.C cosmetics, Make up forever, L’Oréal Paris.”
Final Thoughts
Tiffany & Co. has certainly been developing its digital and omnichannel marketing strategy in interesting directions since we last reported on them. From innovative collaborations to penetrating challenging foreign markets, Tiffany & Co. is elegantly demonstrating that it still has what it takes when it comes to online promotion.
Collaboration and expanding your reach are sure to be part of the conversation at eTail West 2023, being held in February and March at the JW Marriott Desert Springs, Palm Springs, CA.
Download the agenda today for more information and insights.