New IDI program offers Israeli diamonds, anytime

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New IDI program offers Israeli diamonds, anytime

By Teresa Novellino

March 30, 2009

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The IDI's new marketing program provides 24/7 access to Israeli diamond companies.

Basel, Switzerland--A new strategic marketing program called "Together Works," designed to give jewelers round-the-clock access to Israeli diamonds, kicked off at the Israel Diamond Institute (IDI)'s annual press event at BaselWorld on Friday.

The centerpiece of the Together Works program is an exclusive business-to-business service for IDI partners in the United States: a toll-free number (888-42-WORKS) that operates 24/7, allowing ongoing and new IDI clients to reach out with their immediate diamond needs.

Requests called in via the phone number will be uploaded in real time to IDI's portal site, and all Israeli diamond companies with the appropriate goods will also receive text messages so that they can respond to clients' immediately.

To spread the word about the Together Works program, a print and online advertising campaign will launch this week in leading jewelry trade publications and Web sites, with ads featuring the toll-free phone number and focusing on the image of a handshake, designed to signify how Israeli diamond deals are sealed with a handshake and the traditional Yiddish phrase Mazal and Bracha.

IDI Managing Director Eli Avidar, who spoke at the press luncheon, said the Together Works program incorporates a distinctive platform of services for the Israeli diamond industry, as well as a series of unique efforts worldwide to support the industry as a whole.

The Together Works initiative debuts during a tough time for the diamond industry worldwide, with Israel's diamond hub in Ramat Gan being no exception.

Avidar said however that the IDI and its leaders saw the world economic crisis coming and have been preparing for it by "regrouping, readjusting and rethinking" to help Israeli diamantaires survive and ideally even thrive in difficult times.

"We pointed to India and China as markets of the future and we have not lost faith in these markets, despite the economic downturn," Avidar said.

In addition, Avidar said, marriages will still take place during a recession, and engagement ring sales are expected to hold their own.

"According to recent studies, most brides are not cutting their budgets," Avidar said, adding that in China, this is the Year of the Ox, considered a particularly successful year for marriages.

The Israeli diamond industry has also reduced its overall debt from $2.45 billion to $1.8 billion.

In another move to make the Israeli diamond industry more accessible, the IDI had launched The Israeli Diamond Industry blog through which it hopes to develop an online B2B community and create a place for the industry and media to come together to share ideas and communicate directly with Ramat Gan.

The IDI luncheon also featured a presentation by guest speaker John Peters, chief operating officer of Jewelry.com, entitled "Harnessing Web 2.0 to Tell Your Story."

Peters pointed out that the rising growth of social-networking Web sites such as Facebook mark the evolution of Internet usage from Web 1.0, in which Web sites were largely informational, to Web 2.0, in which sites are interactive and users can share information among themselves.

Among those who have taken advantage of Facebook is President Obama, who boasts nearly 6 million supporters on his site, where he provides updates on his activities as president and offers opportunities for supporters to ask questions.

"Ask him about it and you're going to hear [Obama] say there's six million reasons why Facebook is important to him," Peters said.

Jewelry.com's own Web 2.0 efforts include a blog that allows users to react to postings pertaining to jewelry, including styles seen on the red carpet.

Jewelry.com is also able to tell where, geographically, its visitors are located.

"We know what they want, we know who they are, we know what they are thinking," Peters said.

Jewelry.com is offering jewelers around the country the opportunity to post ads on its site, which will appear only for users who are in the jeweler's geographic region.

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