The Israeli Diamond Industry Sees Economic Crisis as Opportunity for Innovative Marketing

The Israeli Diamond Industry, one of the major stakeholders ofIsrael's economy, has found a unique way to deal with the global economicmeltdown. Instead of freezing marketing activities and pulling advertisingdollars, the Israeli Diamond Industry is investing huge efforts in reachingout to clients, using both new and traditional marketing tools.

"We see the economic crisis as an opportunity, not a problem,"said Eli Avidar, Managing Director of the Israel Diamond Institute Group ofCompanies (IDI). "The key to success in this economic climate is to adoptassertive and sometimes unconventional strategies in marketing, managementand development." That is, in his words "Do the unexpected."

Avidar and his team have created a 10-stage B2B strategicmarketing program dubbed, 'Together Works', which is being rolled outthroughout 2009. The plan is geared to helping Israeli diamantaires andIsrael's trading partners throughout the world. Avidar said, "IDI isproviding tools necessary to help diamond companies survive and even thriveduring these difficult times. Our message is clear: The Israeli DiamondIndustry reaches out to its international trading partners. By workingtogether we can all benefit."

So far IDI has launched four stages of 'Together Works,' with thelatest inaugurated on May 31, 2009 at a press conference at the JCK Show inLas Vegas, the largest jewellery trade show for the U.S. market.

With this stage IDI is making use of the power of social networksand Web 2.0 to promote Israeli diamonds. At the press conference IDIpreviewed 38 video spots especially created for YouTube. In addition, theInstitute said that IDI was actively using social networks such as Twitterand Facebook, and has gone online with The Israeli Diamond Industry blog.This is in addition to its flagship diamond portal in English, Chinese,Russian and Hebrew. IDI's plan is to develop an online B2B community whichwill create a place for the industry to share ideas and communicate directlywith Ramat Gan.

Earlier stages of 'Together Works' launched a major print andonline advertising campaign in leading trade publications and websites.Moreover, in the United States IDI introduced a 24/7 toll-free number,1-888-42-WORKS, for ongoing and new clients to reach out with their immediatediamond needs. These are uploaded in real time to IDI's online portal and allIsraeli diamond companies will receive text messages updating them on the newdemands. IDI also launched "CALL ASIA", a unique call centre that initiatesdirect contact with a massive database of Asian B2B diamond buyers everyweek to ask for their specific diamond needs. Here too the information isinstantly uploaded on to the IDI portal and Israeli diamond suppliers arenotified by text message.

As a further benefit to diamond partners in the United States,IDI has launched a new seasonal magazine, Reflections - Diamonds. Fashion.Trends. Clearly. Reflections focuses on the latest in styles, trends, andcelebrity jewellery. It is distributed free of charge as a handout forcustomers to over 10,000 retailers in the United States in order to boostdiamond sales. Reflections can also be accessed online through IDI's portalsite at http://www.israelidiamond.co.il/Reflections.

Source: http://www.merinews.com/