Our research uncovered a trove of actionable insights that became the foundation for their marketing and communications plan. We provided the client with a strategic road map that includes:
- Short-term and long-term target segments
- The emotional and motivational purchase triggers for both mined diamonds and LGD
- The current barriers–broken down by demographic–that remain for widespread adoption of LGD
- Specific approaches to LGD communications and marketing plans
We also identified specific needs and occasions as the best markets to target for LGDs. The study revealed the importance behind what the diamond communicates to others and the mechanism by which it will facilitate social interactions. There is currently a knowledge gap around LGD, which results in misconceptions about what they are, how they are produced, and the value they bring. The “reason to believe” remains largely undefined in the LGD space. People want to understand what LGDs bring to the market and why they should consider LGDs, above and beyond the lower price tag. While there is strong emotional connection with traditional diamonds, there are specific signs that these emotions are not sustainable in the long term.