Which is more important the product or the marketing? A combination of both is best for getting sustainable results for your business but if you needed to choose one area to improve what would you choose? For the company, Fred and Far, they are focusing their marketing campaign on a common item in the jewelry industry a diamond ring. The marketing gimmick is that the diamond ring is for your pinky. The meaning is to represent self-love. This is not to be confused with a signet ring, that can also be worn on your pinky finger. I heard about this pinky ring from an article from JCK (Jewelers Circular Keystone), that publishes a jewelry insider magazine and has online articles about topics facing the industry. The article is, ‘New Pinky Ring Means I Love Myself ’, a link is included.
I had to learn more about this company and product. This campaign felt similar to the Right Hand Ring Campaign De Beers launched in 2003 and ended in 2005. Ads were in magazines and mainstream media showing strong women with a diamond ring on their right hand. Do you remember any of the advertisements below?
The campaign stopped after two years because De Beers research saw the focus moving from ‘me’ to ‘we’. It looks like Fred and Far are feeling that there is a need for self-love jewelry. I went to their site and saw the campaign front and center on the landing page.
The product is defiantly geared towards women. There are two founders, both women, who started this business in 2015. The company’s Instagram posts started about 5 weeks ago and has just under 9,000 followers. The focus of their media is choosing yourself. Has the thought shifted from ‘we’ to ‘me’? I think that Fred and Far should just expect a niche revolution not a mass revolution. The rings range in price of $150 for a sterling setting and $325 for 14K in the three metal choices, rose, white or yellow gold. At those prices you know that the stone is not a real diamond but a lab grown white sapphire. Pictures of the ring and description from the Fred and Far website below.
At the lower price point I think the campaign will start a mini trend among millennials. I don’t see too many women 40+ buying into the self-love hype. I personally was not moved by the De Beers right hand ring campaign. I wear a ring on my right ring finger but not due to advertising. I also do not need an excuse to buy a diamond ring. If I like it and can afford it I’ll buy it, no encouragement necessary.
To conclude my thoughts on the pinky ring, I would advise Fred and Far to look at other products to sustain their business long term. This pinky ring is the only item sold on the website for now. That’s one issue I see with the company it is hoping to spark a trend but trends will fade and that pinky ring will be dated. De Beers was smart in that respect it used what it had already to market to a different group and when the trend with that segment ended those rings went on to a new campaign. De Beers right hand rings will not be dated because it was pure marketing not inventing a new product. For those reading did the De Beers campaign convince you to buy a right hand ring? What do you think of this potential pinky ring trend? Do you own a pinky ring that you wear? Have you seen anyone wear a pinky ring like the one above? Thank you for reading and return soon for more Data in the Rough!