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

RAMAT GAN, Israel - ‘Together Works’ Uses New and Established Marketing Tools

The Israeli Diamond Industry, one of the major stakeholders of Israel’s economy, has found a unique way to deal with the global economic meltdown. Instead of freezing marketing activities and pulling advertising dollars, the Israeli Diamond Industry is investing huge efforts in reaching out 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 of Companies (IDI). “The key to success in this economic climate is to adopt assertive and sometimes unconventional strategies in marketing, management and development.” That is, in his words “Do the unexpected.”

Avidar and his team have created a 10-stage B2B strategic marketing program dubbed, ‘Together Works’, which is being rolled out throughout 2009. The plan is geared to helping Israeli diamantaires and Israel’s trading partners throughout the world. Avidar said, “IDI is providing tools necessary to help diamond companies survive and even thrive during these difficult times. Our message is clear: The Israeli Diamond Industry reaches out to its international trading partners. By working together we can all benefit.”

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

With this stage IDI is making use of the power of social networks and Web 2.0 to promote Israeli diamonds. At the press conference IDI previewed 38 video spots especially created for YouTube. In addition, the Institute said that IDI was actively using social networks such as Twitter and 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 which will create a place for the industry to share ideas and communicate directly with Ramat Gan.

Earlier stages of ‘Together Works’ launched a major print and online 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 immediate diamond needs. These are uploaded in real time to IDI’s online portal and all Israeli diamond companies will receive text messages updating them on the new demands. IDI also launched “CALL ASIA”, a unique call centre that initiates direct contact with a massive database of Asian B2B diamond buyers every week to ask for their specific diamond needs. Here too the information is instantly uploaded on to the IDI portal and Israeli diamond suppliers are notified 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, and celebrity jewellery. It is distributed free of charge as a handout for customers to over 10,000 retailers in the United States in order to boost diamond sales. Reflections can also be accessed online through IDI’s portal site at www.israelidiamond.co.il/Reflections.html

IDI’s Avidar said, “‘Together Works’ brings new and fresh marketing ideas to the diamond world. Diamonds represent a time-honoured tradition, and the world diamond industry has been operating in much the same way for centuries. The challenges posed by the current economic situation have led us to introduce innovative and exciting marketing channels. There are additional surprises to come.”

IDI Chairman Moti Ganz said that the first stages of ‘Together Works’ have been received with great enthusiasm in Israel and abroad. “IDI’s response to the economic situation has been to initiate important services for Israeli diamantaires and their international clients. The Israeli Diamond Industry and its global trading partners are reaping the benefits. Everyone is anxious to see our next steps. “

For further information about IDI’s ‘Together Works’ marketing program go to www.israelidiamond.co.il/English/index.aspx

Contact: Sharon Gefen +972-3-5442999; +972-54-4494494

Source: Israel Diamond Institute

Contact: Sharon Gefen, +972-3-5442999; +972-54-4494494