what's up guys this is Jesse at Jewelers advantage and today we have quite the presentation for you this one is called the brand prism more valuable than diamonds so before I even get into it if you make it to the end of this presentation you're going to see why these ideas in this presentation got me kicked out of a couple of Facebook groups today in the jewelry industry but here at Jeweler's Advantage we Champion an open exchange of ideas so you're going to want to stick around and see this because this presentation is going to answer a lot of questions about what could potentially unfold in the jewelry industry in the next 2 years so if you sell gold and diamonds you're going to want to make it all the way to the end of this one so before we get started we have to take a little bit of a detour and make sure that we know our history so we're talking about diamonds and in this case we're talking about cultured pearls and lab diamonds hm very interesting what do these two things have in common well at a certain point in time pearls were so valuable that if a big enough and perfect enough Pearl was found in say the Persian Gulf it was a significant enough World Financial and economic event that it could alter the course of financial markets globally so this was pre 1920 and if you think about how things work today we don't think of pearls like this today pearls are certainly not changing the course of economic events globally and they're certainly not being used to buy buildings or anything like that if you look back the cardier building on Fifth Avenue was actually purchased for two strings of pearls right around 1917 then after 1920 something significant happened to the world of pearls cultured pearls were discovered so if you think about the long time Horizon of cultured pearls pearls gradually became to be known as more of an affordable luxury fashion item rather than something that you could trade for a piece of real estate on Fifth Avenue now what's interesting about the process of cultured pearls well they start with a seed on a Pearl farm and through this process they have human involvement dictate the growth of the Pearl within something like an oyster or whatever type of organism you would want to grow a pearl in what does that sound like to you are you familiar with how lab Diamonds Are Made they're made in a machine they start with the seed material and then through the Miracles of science we add layer after layer after layer of carbon vapor and it becomes a diamond so you have to understand that when everybody is talking about our natural Diamond's going to recover we have to look at history and see okay it's not just like a market event that dictated that people aren't buying diamonds and maybe jenz just needs to get older or something like that it's a much bigger issue than that and it's essentially history repeating itself it's essentially a process very similar to the creation of cultured pearls which dictated the market of pearls henceforth they never came back essentially the same process is now being used for diamonds in an age where we now have the internet customers can get educated super quickly and that is what's leading to this rapid rapid adoption of people buying lab diamonds and being okay with it we're going to see this become and transition to to more of an affordable fashion item so it's no longer like selling a house let's take this into account with another crazy disruption going on with artificial intelligence if you're in this group you're probably here because at least for part of what you've seen from us you've seen AI generated jewelry images that are photorealistic well spoiler alert this is an AI image itself and look how spectacularly detailed this is so if we think about world now where anybody can create an image like this what is that going to mean for jewelry businesses in the future this is kind of like the future version of having the same diamonds and gold as everybody else and the customers can go price shop to five different people or the question comes in hey what happens when everyone can design the powers of creativity have been completely democratized everyone's a creative genius now everyone can make really really great designs and even your customer can show up with a great design but they might not know how to actually produce the design so in a world where we're seeing a huge shakeup in customer attitudes it doesn't really matter what Jewelers think think about that for a second it doesn't really matter what Jewelers think it only matters what customers think and it only matters what's actually true in the market what's actually the truth what's actually happening so in a world where a customer can create this design and your diamonds and your cultured pearls are essentially becoming the same thing what is going to actually allow people to differentiate themselves how are you going to set yourself apart when anyone one can create an amazing design everyone's got basically the same paintbrush and canvas to work with now luckily we have metals like silver and gold and platinum those aren't getting disrupted so there's certain things remaining the same and there's certain things that are changing how are we going to adapt to that change well the answer here is the brand prism so you may have seen this image floating around I've been sending it around to a lot of people this is the brand prism it's a framework used by several Fortune 500 companies to control the perception of their brand and their relationship with their customer so this dates back to around 1987 I believe there was a professor named cap furer so if you look up cap fur's brand prism it'll bring up an image like this and you might see it with Brands like Nike or cocacola or Starbucks or any other major brand that adopted this framework now if you notice post 1987 around the 90s Brands got really really good at advertising now in the age of AI this framework is actually available to you and we're going to go over what each one of these sections are because I've passed this image on to a lot of people with a brief description and everyone's been saying it's very interesting what I want to say is it's essential the difference between your brand and another brand that's going to go out of business this decade is going to be because of the brand prism so if we think back to how can you differentiate yourself among people that are all selling the same things and the barrier to entry for the creative content is now so low how do you separate yourself this is exactly how you do it we've got physique personality culture self-image reflection and relationship all of these categories come together to form a three-dimensional view or prism of your brand similar to a gemstone so if we look at physique physique is going to be things like your logo and your colors and your product the way it looks it's all of the material aspects of your business if it's Visual and you can hold it in your hand especially for a jewelry business it probably falls under physique for personality you may have heard the term brand voice before your personality for your brand is certainly where brand voice comes in it could also have to do with the emotional impact of the colors if the delivery is more playful or serious the underlying tone of the brand that's its personality culture is going to be like your company culture what is the emotional energy inside the four walls of your business how does the staff treat each other how is everyone getting along and how is that energy Rippling out to your customer interactions how is that Rippling out to your product quality at the end of the day businesses are run by people and that's your culture when we get to self-image this is the idea of who is your customer trying to become how do they perceive themselves when they're interacting with your business in the context of a luxury or jewelry business that might mean I feel like I'm a high class person that enjoys the finer things in life that would be a pretty safe bet for most jewelry and luxury businesses if you think about it in the context of other brands just so you can understand what this means this is like somebody wearing Nike and just feeling like they're a winner feeling like they're a good athlete because they're wearing Nike or feeling like their higher Social Status because they're wearing Gucci something along those lines it's how the customer feels when they interact with your brand when we get to reflection this is interesting because it interplays with self-image so we've got reflection think of a mirror now your reflection is interesting because it's the deliberate intent on the part of the brand to relate to the customer so if you've heard of having your perfect customer before everybody talks in e-commerce jewelry about we need to know our perfect customer that lives here your perfect customer is in the reflection section so you would need to know your demographics and psychographics so that's basically the data points on the customer and how they think and you would want to Define that to match your brand to the people that are most likely to buy jewelry from you okay so that's reflection but there's another side to it as well the same way that you see your own reflection in a mirror the brand can take that information about the perfect customer and dictate their own image to relate to the person that they're trying to reach so reflection is the way that the customer is perceiving the brand from the outside it's like your image but the brand can also have control of its image to try to relate and mirror the values of the customer so if you have your demographics and your psychographics of your particular perfect customer that you believe is for you you can dictate the presentation of the brand so that it will relate to the person that ultimately is going to buy from you so that's reflection think me mirroring I'm trying to mirror what the customer wants with reflection then finally when we get to relationship that is the relationship between you and the customer so that's everything from how it is for them to interact with you in your DMs or your inbox or your customer service how is the relationship defined now mainly this relationship is defined by you're a business that provides to the customer and sells them the product that they want that's going to be a Common Thread for everybody but you're going to have opportunities to find new ways of presenting what your relationship is with your customer based on the culture of your brand so then you'll also notice around the outside we've got sender internal receiver and external so with sender that's us on the inside of our business sending out some type of communication and that would mean it's a combination of the visual and then the emotional side of things so you've got your boxes you've got your nice photography you've got your beautiful products that's all physique the descriptions and the tone of voice in the messaging of how you're relating to people is the personality It's a combination of these two things being sent out by you the receiving end of that is the customer so we can be talking about what is the customer's experience really like over from this end we've got the self-image this is who they're trying to become and we've got the reflection of how can we mirror who they're trying to become and how can we get very specific in our targeting to make sure we're hitting the right person so as you can see when you start talking about the combination of these two ideas it can become very powerful then you'll also notice we've got internal and external now this is very interesting because the way that this is set up is very much like the left and right brain of a human being on the left hand side of the brain we have logic and reason on the right side of the brain you have emotion and intuition so it's interesting looking at it from the external side because you've got your physique all the visuals of the brand you have the relationship that is being formed with your customer externally and you have the reflection of how you're mirroring back whatever you're trying to reach in the market to the customer and hopefully find resonance with them on the internal side we have all of the intuitive and emotional aspects of your brand you have the personality so what is my brand voice that' be a really good thing for you to know what is the culture of our company on the inside and how does that reverberate out to align with who the customer is trying to become with self image so that's all internal so we have our inner world and our outer world so the question is if this is a fairly complex idea and I would expect and appreciate that some of you watching this will say wow okay well how do I actually do the brand prism right it's uh it's a lot to take in if this is your first time hearing it it's a lot to make an adjustment but the point is here this is going to be the big differentiator for you when everybody else is selling all the same things when everybody else is using AI imagery to create jewelry when everybody else has the same gold and the same diamonds how do you actually separate yourself using the brand prism it comes down to storytelling and Alignment you need to be able to have continuity in your brand I tell people in private consultations that we can't be making a different movie if there's four managers the four managers or the four owners have to all be making the same movie when it comes to creating the world of this brand everybody has to be on the same page now before back in the olden days pre AI this was really hard to do you'd have to hire people you'd have to train the social media manager of what your brand voice is supposed to be what your content is supposed to be you'd have to train your product team this is the cardier way that a nice piece but it's not cardier we have to do it the cardier way how do you create that continuity how do you make sure that that brand voice is consistent for customer service and sales how do you make sure that operations is lined up to dial into the specific needs of what you're going to want to do and need to do with all the Departments that are supposed to create this world create this Disney World effect of bringing people into your brand well we're going to do it with AI so with the brand prism if this is a Brand New Concept to you it would have probably been out of reach a few years ago you would have had to spent a lot of time and built your whole company around it now I am saying you do need to build your whole company around this because without it there's going to be a clear Line in the Sand over the next couple of years that the people that are really really locked in on who they are what story they're trying to tell how their products are elevated into having a higher perceive value how they're giving a great experience to their customers those are going to be the people who win and if you don't get on board with that you might not be in the jewelry industry by the end of the decade so how do you get prepared let's jump over to Jeweler's Advantage we've made it this easy for you guys all you have to do is when you get access to the Jewelers Advantage tool you're going to have four conversation starters down here we've got brand we've got product we've got marketing and we've got Sales and Service just to start things off if you haven't done so yet if you're just starting this new journey into the world of AI for your brand and you don't have a brand prism yet all you need to do is click the button on the top left so that's a little bit of movie Magic I didn't want to have to wait for it to populate here on video but by pressing that one button for brand this is what you get it's an entire Launchpad to figuring out what your brand prism is going to be as you can see here the Jeweler Advantage tool gave us a starting point in terms of making sure we're considering what Market segment we're in I'll do another video entirely on Market segment but you need to know if you want to be a low-end middle Market or high-end brand and then from there you build out the brand prism you've got physique you've got personality you've got culture you've got relationship self-image and reflection as soon as you press the button in the tool it's going to get you set up with this so you can get started right away now what's very interesting here is that this is essentially a consultant in your pocket so imagine if you had a brand prism expert a Fortune 500 branding expert imagine they could jump right out of your pocket at a moment's notice and give you tailored advice to the specific unique brand that you're trying to create that's exactly what this is 24 hours a day so we've got market research we've got brand storytelling we've got marketing strategy we've got product development these are all areas that you can take a deeper dive into by simply copying and pasting them into the chat and saying I want to talk more about this and the questions that you need to consider are one what type of jewelry does your brand focus on and how does it stand out in the market so what is your unique selling proposition what makes your jewelry special who is your ideal customer and what are their key characteristics so that's from the brand prism on the reflection side demographics psychographics this tool knows that already so as long as you know okay perfect customer ideal customer I need to figure that out we've got you number three what values and culture do you want your brand to represent jewelry is a personal thing for a lot of the people that found jewelry businesses so here we've got you as well to help you figure out within a proven framework what is going to help you decide how to organize this into the brand prism at number four we've got how do you envision the relationship between your brand and its customers if you don't really know we can help you we've got you there number five how should your Brand's personality and voice be conveyed in the market and customer interactions well spoiler alert that's going to have a lot to do do with your Market segment you're going to talk to high-end customers in a particular kind of way and there's going to be ways to communicate to the Middle Market and there's going to be values and cues with personality that speak to the low end of the market so you need to know what this is this tool is designed to help you get there without having to pay a brand agency without having to pay the social media Specialists and then from there once you have the brand prism locked in you can jump off into what's my logo going to be what are my products going to be what's my packaging going to look like what could my retail physical retail environment look like what materials will I use for these products and how will I make them sound special that is going to be how you differentiate yourself so as you can see the powers that be I don't know who they are what the issue is but there's certain people that don't want you to know this if you stuck around to the end you can get this tool if you have chat GPT plus that's what Jeweler's Advantage is built on if you are already a chat GPT Plus customer that's the $20 a month tier that has GPT 4 if you have that already leave a comment below I'm going to send you the Launchpad links in a DM the tool is free to use for any user of the higher grade of the platform it's the number one AI in the world folks so if you need to develop your brand if you want to get an edge in the market when diamonds collapse if you want to be ready for 2024 and 2025 and have an edge in the market when everything changes and nobody knows what to do start with this start with the brand prism this is the new jewelry industry at Jewelers advantage