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Together We Are Stronger - Branding Alliances

Ehud welcomed the generic diamond marketing campaigns that emphasized the rarity of diamonds. In July 2016, he wrote "The return of a relevant generic diamond marketing campaign is a blessing. 'Real is rare. A diamond is real' is a step forward to changing the current consumer mindset and is naturally inspired by 'A diamond is forever'".

At the same time, Ehud realized that in the current market structure, allocating sufficient funds to invest in an impactful marketing initiative is not simple, and suggested a possible solution, "In view of our fragmented sector, diamond players should consider branding alliances to jointly invest in promoting diamonds".

Such a joint effort should not be limited to smaller companies. According to his vision, the leading companies must play a key role. "Branding alliances must be well organized and funded to achieve the possible, yet ambitious objective, of promoting the inherent value of diamonds in the hearts and minds of consumers.

This requires the involvement and contribution from the industry as a whole, from De Beers and Alrosa to the more fragmented midstream and downstream markets.

Could we envisage for example diamond exchanges and the other trade bodies mentioned above creating a large common marketing fund with pro-rata contribution from players across the sector?

If a fraction of our industry's $22 bn wholesale and $78 bn retail turnover was set aside such that a marketing fund of say $100 m p.a. could be created, this would go a long way in promoting diamonds as a unique product, complementing the marketing efforts of individual brands."

Working together towards a common goal, developing a joint strategy, and executing it was a worthy cause in Ehud's eyes. Especially as it had clear benefits for every single industry stakeholder and others as well.

Related articles:

Strategic alliances as one way to address excess fragmentation in the diamond industry

The Three Keys to Diamond Brand Power
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