I think you would agree that there are some things that I find interesting that you may not. Furthermore, just because something is interesting to some people does not mean it is the ideal foundation for a successful marketing strategy.
If we can agree on both points, it looks like natural diamonds have a serious differentiation problem.
Lab-created diamonds continue to improve in quality while falling in price, creating an increasingly alluring alternative for consumers. Accepting that premise, the conclusion for the ‘other side’ is obvious. If natural diamonds are to maintain their position in the market, they need to find a point of difference that consumers can identify and value.
In recent years, key figures in the industry have seemingly settled on one particular distinction. It's factual, impossible to replicate, and easy to communicate: natural diamonds were formed billions of years ago, deep beneath the Earth's surface.
That’s certainly interesting, but does it resonate with everyone?
Recently appointed CEO of the Natural Diamond Council, Amber Pepper, has described natural diamonds as existing "before human language" and even "before consciousness", noting that few luxury products can claim such a history.
Her predecessor, David Kellie, made much the same point, describing natural diamonds as among the "most ancient, precious and real treasures" anyone is likely to own. World Diamond Council president Feriel Zerouki has similarly argued that no factory or machine could ever reproduce that characteristic.
The De Beers Group distilled this message into an advertising line: "Good things take time. The best take a billion years."
View all of this collectively, and the strategy is clear, even if it is unspoken. Facing competition from lab-created diamonds on quality and price, the natural diamond camp has latched onto a bleedingly
obvious point of difference: geological age. It’s easy to understand and justify, as lab-created diamonds cannot claim to have formed billions of years ago.
With that said, there’s another question worth asking. Do consumers, the most important factor in this commercial equation, actually care if diamonds were formed billions of years ago?
Marketing has never been an exact science; however, many of its most influential thinkers have generally agreed on some fundamental principles. For example, most would argue that successful
marketing begins with the customer and not the product.
Edward Bernays, the ‘father of public relations’, would undoubtedly argue that persuasion cannot rely solely on communicating interesting facts. Philip Kotler, who authored dozens of books on the subject and popularised the concept of a ‘marketing mix’, said that success begins by understanding and satisfying the needs and wants of consumers.
Unless natural diamond marketers bridge that gap, geological age risks becoming little more than an impressive statistic – and possibly an afterthought entirely during the average consumer’s purchasing process.
There’s another danger with this approach, and it’s something that happens in almost every specialised industry. Experts often mistake what fascinates them for what motivates customers.
Watchmakers love discussing movements, and winemakers celebrate soil composition. Those details matter within the four walls of these respective industries; however, consumers generally care far less about the technical specifications.
Jewellery is not different. People don't buy engagement rings because they find geological processes interesting. They buy them because of what those rings represent and because they are aesthetically pleasing.
Which brings us to a simple pub test. Imagine a couple becoming engaged. After the kiss, the hug, and the celebrations, how many proposals end with someone enthusiastically announcing, "Fun fact: that diamond formed billions of years ago"?
Probably none. Likewise, when someone proudly shows friends a new Ferrari, nobody gathers around discussing the sophistication of its airbag system. They talk about the style, the performance, and how it feels to drive.
None of this is to suggest that geological age should disappear from natural diamond marketing. Far from it. It's an extraordinary fact! Importantly, it’s something that lab-created diamonds can never replicate.
Interesting facts capture attention; however, they don't necessarily close sales. Geological age has never been the only message being promoted; however, it is worth questioning whether this particular point of difference is carrying more weight than it deserves.
The fact that natural diamonds are billions of years old is fascinating. Whether that fact, on its own, is persuasive enough to determine a purchase between a natural and lab-created diamond, ahead of price and appearance, is a very different question.
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