Article: SMBs Turn to Social Before Search
Social media is the top online marketing channel for small businesses after company websites
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Article: What Do TV-Social Media Multitaskers Talk About?
More concerned with themselves than with the content
How Gemvara Is Changing the Way Fine Jewelry Is Bought Online
It’s news to no one that ecommerce is on the rise. Not only are more consumers turning to the web to purchase online for the first time, they’re also beginning to purchase in more expensive categories — including, one startup has found, in fine jewelry.
Gemvara is a Boston-based startup that specializes in high-end, customizable jewelry. Shoppers can browse a catalog of more than 1,500 original designs and mix and match from 26 different kinds of gemstones and eight precious metals to create an arguably unique, made-to-order piece.
The one-year-old company announced this week it has raised $15 million in a Series C round of funding led by European venture capital firm Balderton Capital, a lead investor in another well-known Boston startup, SCVNGR. Gemvara has raised more than $25 million to date.
Gemvara plans on using the funds to build out its catalog and further develop its online shopping experience. The company also has plans to open a NYC office and double its staff of 40.
26-year-old CEO Matt Lauzon attributes much of the company’s success to its Zappos-like customer service, which is available via phone, email and live chat. Establishing trust between the company and consumers, especially for expensive purchases like fine jewelry, is essential, Lauzon says. Around 45% of Gemvara’s customers have never purchased a piece of jewelry online before, the company found in a recent internal survey.
“What’s amazing is the number of interactions [our customer care representatives] have after a purchase,” Lauzon says. “It has nothing to do with the product; customers are just checking in because a friendship has been built with the customer care rep.”
The average price of an order is close to $1,000, he says, and the company frequently receives orders in the $5,000-to-$10,000 range.
“Jewelry stores aren’t ever going to go away, but more of their business is going online,” Lauzon claims. “Because of inventory restraints [store] customers often have to settle, and that’s disappointing. Our goal is to match people with the perfect piece of jewelry,” he says.
More About: balderton capital, ecommerce, fine jewelry, gemvara, jewelry
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Quickstart Guide to Social Media for Business [Infographic]
Many businesses are just getting started in social media. It’s the natural course of action to take today seeing how huge its impact and reach has become. If you have a limited budget and have no idea where to begin, this Infographic from Getit Comms, a Singapore based PR firm, might be a good reference to get your brand exposed in the world of social media in 14 simple steps.
Just like traditional marketing, social media is not a one shot deal. The best marketers, be it on traditional and on social media, are those who set specific, achievable goals, take risks, engage and understand their customers, use reliable metrics and learn from their mistakes. The secret is to just keep trying until you will eventually get things right.
Click on the image to expand.
Strictly business? Personal tweets make profs more “credible”
Those who use their Twitter accounts for both personal and professional purposes often find themselves wondering whether they are damaging their credibility with funny anecdotes or social tweets. According to a study published in the March issue of Learning, Media and Technology, however, the answer to that question is a resounding “no.”
Instead, students perceive instructors who make social tweets as more credible than instructors who remain strictly business, lending support to the idea that knowing a real human is behind the Twitter stream helps people feel more confident about that person’s abilities.
Authored by Elizabethtown College professor of communications Kirsten Johnson and undergraduate student Jamie Bartolino, the paper examines how students perceive professors when they follow their social media updates on Twitter. The paper refers to five “factors of credibility” identified in a 1974 study: competence, character, sociability, composure, and extraversion.
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