In a speech at the CIBJO – The World Jewellery Confederation Annual Congress in Istanbul, Turkey, Eli Avidar, managing director of the Israel Diamond Institute Group of Companies, urged the global jewelry and diamond industries to “think out of the box” about marketing their products during the current economic crisis. Avidar made his presentation during the opening session on May 3.
Avidar said the key to success is “to adopt assertive and sometimes unconventional strategies in marketing, management, and development.” His message, in short, was: “Do the unexpected.” He cited the IDI “Together Works” campaign, which depends on international cooperation, as an example.
The campaign is being rolled out in stages throughout 2009 and is making use of every type of media. Avidar advised targeting new consumer markets in developing countries but said the industry must understand those cultures and adapt accordingly. Chinese, for example, prefer jade over diamonds. Avidar said it was essential to “capitalize on the fact that the diamond or a piece of unique jewelry will always have more intrinsic value than a designer pocket book.”
He also called on the global industries to use social networks such as Facebook and Twitter as well as blogging. “Take the time to blog or even just read blogs to get a better understanding of our industry from entirely new perspectives.”