The custom engagement jeweler Rare Pink, following the company’s rebranding into Taylor & Hart, has decided to ditch its e-commerce elements, eschewing its e-tailer services it provides its customers in favor of a new business model, one focused on lead generation.
The change was announced by the now Taylor & Hart during the launch of its new company website. Which lacked the ecommerce platform from its Rare Pink days.
Nikolay Piriankov, the CEO of Taylor & Hart, explains the change. He states that, despite the fact that the company thrives off of its online presence, they have still decided to drop the e-commerce element of their operations, due to an issue that arose from the e-commerce platform. According to him, 5% of the people that buy from their website in the past do so without any conversation with them prior to their purchases. This meant that they were ill-informed when they purchase, resulting in poor decisions that meant that the company had to expend extra resources in helping their customers in the aftercare process.
Piriankov states that that is the reason why the e-commerce element is being left behind, and making the company focus on Lead generation, instead. The transition from e-commerce to lead generation means that consumers can now make enquiries over the phone or on the internet, but it must follow the sales process all the same. This means that the site isn’t rendered superfluous, rather that it is now the first step towards actually making a purchase.
To elaborate, Mr. Piriankov states that the new business model will allow the company to help their customers with their purchasing decisions in a way that wasn’t exactly doable with the old business model. He elaborates that the e-commerce process didn’t seem like the best method according to their data, and that they are acting based on what evidence they have.
This unique, custom, business model fits the tailor-made business approach of the company. Piriankov has stated that whilst the company is quite developed in the technological aspect of the business, he states that the company’s focus is not on the technology itself, but in how it makes the business-customer interaction better.