How Stone Arrow Jewellery Achieved 20% YoY Growth with Loyalty Schemes and Email Marketing (episode 507)
Nick Feint is the founder at Stone Arrow Jewellery—a multichannel jewellery retailer selling recycled glass jewellery from New Zealand. Founded over 25 years ago they now sell via their own physical and eCommerce stores, as well as wholesale, totaling around $500,000 a year, and are growing at a steady annual 20%.
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[03:25] Key interview points: retention, wholesale, low carbon.
[07:00] Getting online fever from COVID.
[09:12] Upcycled bottle designs are beautiful and innovative.
[12:06] Exciting shift to recycling in local market.
[14:58] Fashion industry embracing versatile wholesale methods.
[22:17] Encourage additional purchases through loyalty points program.
[23:24] Listen to Nick’s Top Tips!
The Power of Pivoting in Challenging Times
The COVID-19 pandemic forced Nick to pivot his business model from wholesale to eCommerce. This unexpected shift proved to be a catalyst for significant growth. Nick’s story highlights the importance of adaptability and being open to new opportunities, even in the face of adversity.
Building Strong Customer Relationships Through Storytelling
Nick’s emphasis on personal storytelling in his email marketing and social media has been instrumental in building a loyal customer base. By sharing personal anecdotes, updates about his team, and insights into the production process, he creates a connection with his customers that goes beyond the product. This demonstrates the power of authenticity and transparency in building long-lasting relationships.
The Value of a Loyalty Program
Nick highlights the benefits of implementing a loyalty program to incentivize repeat purchases. While they faced some technical challenges with their loyalty app, Nick emphasizes its positive impact on customer retention and engagement. A well-structured loyalty program can be a valuable tool for driving customer loyalty and increasing sales.
The Importance of Multi-Channel Sales
Stone Arrow Jewellery’s success is attributed to its multi-channel sales strategy, which includes online, physical stores, and wholesale channels. Nick explains the benefits of diversifying sales channels to reach a wider audience and mitigate risks.
The Role of Sustainability in Business
Nick’s commitment to sustainability, by using recycled glass for his jewelry, is a key differentiator for his business. Sustainability is increasingly important to consumers, and businesses that can demonstrate their commitment to environmental responsibility can gain a competitive advantage.
eCommerce Book Top Tip
- Ultimate Guide To eCommerce Growth – 2024 Edition: 7 Unexpected KPIs To Scale An E-commerce Shop To $10 Million Plus by Ian Hammersley and Mark Hammersley
eCommerce Traffic Top Tip
- Email marketing
Tool Top Tip
Carbon Top Tip
- Nick believes that his business already has a low carbon footprint due to its use of recycled materials and local production. He initially considered becoming carbon positive but found it to be cost-ineffective. Instead, he opted to support tree planting initiatives to offset any remaining carbon emissions.
Interview links
Related Episodes
- Growing a Jewelry business from craft fairs to $2m+ a year with Larissa Loden (episode 355)
- From Studio to Wholesale: the Journey of a Sustainable Textile Brand with Helen Round (episode 439)
- How Flotsam Flo Grew through Creativity, Community, and Sustainability (episode 484)
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