【Deep Insight】Tiffany & Co.: the expert of holiday marketing
Updated: Jun 15, 2021
The day of May 20 is another Valentine’s Day holiday in China. It is funny that “520” sounds phonetically very close to “I Love You”, or “Wo Ai Ni” in Chinese.
“520 day” is undoubtedly a good choice for gift-giving between couples as a symbolic day for people to express their love, and therefore stimulates consumption.
Tiffany, a well-known jewelry brand, especially recommended its 520 series of products by starting the Weibo topic #解锁你的520# and launching advertisements “美好的心意 都在蒂芙尼” in the WeChat Moments on May 6.
The products of the Tiffany 520 series were available for a limited time through offline boutiques and WeChat boutiques.
【Tiffany and its "Tiffany Blue"】
Tiffany is famous for diamonds and takes innovation and design as the two cornerstones of the brand. Tiffany has become the "king of diamonds" in the field of luxury jewelry since its debut because of the virtue of its unique design and the classic icon of the brand.
Tiffany published its first, now famous, Blue Book catalog in 1845. The Blue Book collection presents its annual innovation in design. Since then, Tiffany has widely used Tiffany Blue as its theme colour to symbolize the brand itself with the colour’s meaning — nobleness and dreams.
In 1886, Tiffany launched the most classic diamond ring series Setting, the first classic platinum six-claw diamond ring product, allowing the world to discover the original beauty of jewelry and the charm of minimalist style.
In 1961, the famous Hollywood actress Audrey Hepburn starred in "Breakfast at Tiffany's", which made Tiffany gain more attention and recognition.
In December 2018, the "500 Most Influential Brands" compiled by the World Brand Lab was announced, and Tiffany ranked 183rd.
Tiffany has been known for its themes of love, beauty, romance, and dreams for nearly two centuries. This pursuit of gentle and slender beauty makes Tiffany, like its diamonds, undergo the polishing of the times, and finally shine among numerous jewelry brands.
【The surging holiday consumption & the more intense competition in e-commence】
We all have witnessed the impact of festivals under globalization. Most shopping platforms seize the opportunity to attract consumers through various promotions and price reductions during traditional festivals or the platform festivals they created, so as to increase sales and expand their market size.
It is the merchants’ consensus that it is of utmost importance to boost as many sales as possible during holidays.
A survey has shown that the number of customers buying gold jewelry during the 520 period was about twice as many as before; the flower shop business was booming, among which the rose flower representing love was the most popular, and the sales increased significantly, with the highest increase of about 40% over the previous period.
The 5.20 online activities of shopping apps are equally exciting:
JD.com held the event “去告白，认真爱”, providing a large-scale price reduction;
Xiaohongshu 520 confession season event "爱要大声说出来” offered a 50% discount for a limited time.
Although the potential revenue of holidays is considerable, there are plenty of difficulties for brands to tackle in such an environment of fierce online and offline competition. Tiffany not only started from the price concessions but uses the brand's own value and innovative design to win the jewelry luxury marketing market with the help of 520.
【Utilize both Weibo and Weibo Moments】
Tiffany started the Weibo topic #解锁你的520# on May 1 and invited artists such as Yi Yanqianxi, Zhang Han, Gong Jun, Ou Hao, Song Yanfei, etc. for endorsement, who are all very famous among the 80s and the 90s, because they understand that their fans are the main consumers on Valentine's Day.
On May 6, the brand released a video of Gong Jun wearing a special model of Modern Keys. After the video was forwarded by Gong Jun, it received the highest number of fan interactions on the topic.
At present, the brand’s topics on Weibo platform have received 4,095,510 likes, 11,838,846 interactions, 6,529,203 reposts, and fan coverage of 387,439,071 with only 101 KOLs and 182 contents.
In addition to the promotions on Weibo, WeChat, which has more than 1.1 billion monthly active users, is becoming a new battlefield for brand marketing. Tiffany did not ignore the influence of Moments. On May 11, it released a Moments ad with Liu Haoran, which aroused a lot of response. In the picture of the advertisement, Liu Haoran is holding a classic Tiffany blue square box to promote Modern Keys' special models
After the advertisement was launched, the effect far surpassed those of the same industry. The like rate was as high as 6 times the industry average, and the comment rate was close to 3 times the industry average. The limited 200 special necklaces were sold out in only 6 days on the Weibo mini store.
Tiffany’s WeChat mini store received a lot of support from young audiences. The store’s promotion has been emphasizing the romantic meaning of marriage and love. The brand perfectly integrates online and offline promotion and sales and has become a role model of holiday marketing.