Mumbai: #WearYourWins, a campaign recently launched by CaratLane, celebrates women recognizing and rewarding their achievements. The campaign encourages women to acknowledge every win, big or small, with the new PEAK collection. Featuring Cannes-famed content creator content creator Nancy Tyagi, the collection includes the unique ‘Everest Cut,’ symbolising each step of the wearer’s journey to success.
Indiantelevision.com caught up with CaratLane's vice president - marketing & brand, Jennifer Pandya to gain deeper insights about their latest campaign and marketing strategies.
Edited Excerpts:
On the marketing strategies behind the #WearYourWins campaign
Enabling our customers to express themselves is our brand purpose. While most women are quick to appreciate their loved ones and their achievements, they are hesitant to acknowledge their wins - whether personal or professional. According to a study* we did with Quantum, only three out of ten women celebrate their wins. As a brand that champions expressions, we wanted to urge women to stop undermining their wins. Rather, we want them to acknowledge and reward themselves for these wins. We see this as a cultural movement rather than a campaign.
*Based on an external study by Quantum: 28-45 years old, NCCS A, female category buyers only.
On "Peak" collection's unique features compared to other collections at CaratLane
PEAK collection was launched to celebrate the women's story of strength, resilience, & the unseen journey to success. This collection is crafted with White Quartz and Amethyst and has incorporated the facets from the CaratLane logo and brand colour.
Peak collection features a unique (first of its kind) mountain-inspired Everest Cut as a testament to the journey of small or big milestones, shaping each stone into a symbol of success.
On ensuring the campaign appeals to both men and women and the strategies used to target these different demographics
CaratLane’s revenue growth strategy focuses on three main segments: women buying jewellery for themselves, women gifting other women, and men gifting women. The largest segment is women buying jewellery for themselves.
The idea was to create a cultural movement where women rewarded their wins by gifting themselves. More conversations will build confidence and trust, leading more men and women to discover the CaratLane brand. Further for men, we launched Postcards - where you can embed your video in the jewellery (rings category).
On the origin of this collaboration and Nancy Tyagi being the perfect fit for this campaign?
We have been working with content creators for a while and wanted to participate in the Cannes Festival because we knew many influencers would be there. When Nancy’s team reached out to us, what resonated with us was - her story. CaratLane has always been about accessibility, being the first brand to launch affordable diamond jewellery in the country. We want everyone to wear jewellery and have equal access to great diamond designs.
The collaboration with Nancy Tyagi, during Cannes, exemplifies this strategy. Supporting Nancy’s dream aligned perfectly with our brand values, highlighting CaratLane’s focus on accessibility and affordability. This partnership transitioned into the brand’s #WearYourWins campaign, celebrating women rewarding themselves for their wins.
On celebrities and influencers differing in their impact on conversions for CaratLane
Most of our marketing strategies are to achieve two key business objectives - building desire and driving conversion. Collaborating with influencers and celebrities who are known to share authentic feedback and offer good styling tips helps build trust. We also use user-generated content (UGC) and consumer reviews to build advocacy, resulting in better conversions.
Both these approaches allow CaratLane to connect with its audience on a personal level, leveraging the stories and experiences of its consumers.
