The lab-grown diamond market is experiencing remarkable growth, as highlighted in a recent Wall Street Journal article. The article reveals that more than a third of engagement rings with a center stone purchased last year were created in a lab, marking a significant increase from 2020. Grown Brilliance is a leading player in the lab-grown diamond market, offering affordable and ethically responsible diamond jewelry. With the goal of introducing lab-grown diamonds to a wider audience, our team at AdVenture Media collaborated with Grown Brilliance to develop and implement a comprehensive digital advertising strategy. Through a combination of speed, cost-effectiveness, and ingenuity, we successfully drove rapid growth and positioned Grown Brilliance as a prominent brand in the expanding market.
Educating the Market: Lab-grown diamonds were still a relatively new concept, and many potential customers were unaware of their benefits and value. Our challenge was to educate the market about lab-grown diamonds while emphasizing Grown Brilliance's unique selling points.
Creating Share of Search: Grown Brilliance had no existing market share, and we needed to increase brand visibility and recognition. Our objective was to establish a significant Share of Search, indicating Grown Brilliance's presence and influence in the market.
Differentiating from Competitors: In a highly competitive industry, we needed to differentiate Grown Brilliance from other players and create a strong brand identity. Our goal was to showcase Grown Brilliance's diamond jewelry's creativity, affordability, and ethical responsibility to resonate with the target audience.
Establishing Credibility and Legitimacy: The diamond and jewelry industry is highly competitive, with established players with a long-standing reputation. Grown Brilliance needed to overcome the skepticism and gain the trust of potential customers accustomed to traditional diamond retailers.
Google Ads (Search, Shopping, PMAX)
Meta Ads ( Facebook and Instagram)
Brand Partnerships (The Knot, StyleMePretty, Brides.com, WeddingChicks)
Cost-Effectiveness and Early Adoption: We continuously sought media placements that offered discounted rates. As early adopters of Google's Performance Max product, we took advantage of lower prices due to the associated risks. This allowed us to maximize the budget and achieve cost-effective advertising placements.
Ingenuity and Algorithm Optimization: By utilizing advanced machine learning techniques, we trained algorithms to enhance account performance. We creatively used Google's seasonality adjustment feature to manipulate bidding algorithms, increasing Grown Brilliance's market share rapidly. Our efforts resulted in improved market penetration and accelerated growth.
Share of Search Expansion: Our team successfully raised Grown Brilliance's Share of Search from 0% to an impressive 3.5%. This metric reflected the increased visibility, recognition, and impact of Grown Brilliance in the market. Through targeted digital advertising initiatives, we expanded Grown Brilliance's reach and captured the attention of potential customers.
Targeted Remarketing Strategies: By working with our DSP Partner StackAdapt, we created specific remarketing ads based on what pages and other 1st and 3rd party audiences these users were interested in. We combined the remarketing capabilities of the walled gardens like Google, Meta, & Pinterest and complemented that with our clear programmatic strategy.
Creative Differentiation and Brand Building: We focused on unique design elements, storytelling aspects, and testimonials to showcase the creativity and affordability of Grown Brilliance's diamond jewelry in our Meta and Pinterest Ads. Close-up images of larger-carat diamonds highlighted their brilliance and size, captivating the audience. Testimonials from satisfied customers provided social proof and built trust in the brand. These strategies helped differentiate Grown Brilliance and build a strong brand identity based on creativity, trust, and customer satisfaction.
Community Engagement and Advocacy: By fostering engagement with specific wedding and jewelry editorial partners and cultivating brand partnerships and relationships, we created some validity and credibility for the Grown Brilliance brand. These partnerships helped showcase our brand across their targetted-advertising ecosystem. Also, these efforts spread positive word-of-mouth sentiments about Grown Brilliance and generated brand amplification and awareness of our involvement in the lab-grown diamond space.
Within just 18 months, Grown Brilliance achieved remarkable success:
Annual revenue grew from $0 to $200,000,000.
Blended 2x+ Return on Ad Spend (ROAS) month-over-month.
Share of Search increased from 0% to 3.5%
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