From recent conversations I’ve had with clients, many of you are missing those “big hits” of the past, like the $30,000 diamond bracelet. There’s no question that jewelry buyers and buying habits are changing—and there are a lot of other retailers and e-tailers out there competing for consumers’ luxury dollars—think high-end electronics, adventure vacations, spa treatments, and other upscale experiences.

So how do you cut through all that other marketing chatter and engage with this new generation of luxury buyers? For some of the latest targeted retail thinking, we spoke to Michelle Graff, Editor in Chief of National Jeweler, which has been keeping tabs on industry issues and solutions for businesses for over a century. If you aren’t a regular reader of their blog posts, newsletters, and digital magazine be sure to get on their email list at nationaljeweler.com.

Marketing secret #1  Aim high…and a bit lower.

Why it can boost sales: Expand your customer base and don’t just count on the big-money hits.“There are a lot of people who don’t have the money to spend on jewelry like they used to,” says Graff. “You can cater to the wealthiest consumers, and go after the same one percent as everyone else, or be willing to stock lower-priced, and higher-margin, silver and/or fashion lines alongside traditional fine jewelry that’s priced in the thousands.”

Marketing secret # 2 Do something memorable.

One retailer staged an event where each guest received a gold key, one of which unlocked a jewelry box with an elegant ring.

Why it can boost sales: It’s getting harder to reach people through the usual channels. For example, “people aren’t listening to the radio anymore,” says Graff. “Now there’s satellite radio and pod casts to occupy consumers on their commutes home from work. And 30 other websites they can look at. The thing for jewelers is they have to do something memorable to really stand out.” Need some great event ideas? David Perry & Associates can help you with that. Also click on these examples that worked for other retailers around the country.

Marketing secret #3 Partner up.

Our bridal trunk show and sale at Orr’s Jewelers last spring was a tremendous success.

Why it can boost sales: Event marketing with other retailers can stretch your marketing dollars and your reach. “Everyone is having a tough time in the retail market today,” says Graff.  “I don’t have an answer for every jeweler, but it helps to know you’re not alone. Talk to some of your neighbors. Maybe some are having trouble too. Approach them to see if they would like to get together and do an event. For example, you might ask the local baker and florist to co-op a wedding prep block party. Advertise it and ask people to come and see what the jeweler, baker, and florist have to offer you.” Or offer to cohost a charity event, say providing the accessories for a fashion show with displays featuring gems and jewels credited to your store.

Marketing secret #4 Don’t forget your bread and butter.

Why it can boost sales: With over two million couples getting married each year, wedding marketing is never out of season. “A lot of people want to exchange diamond rings,” says Graff.  “That’s the bread and butter of the industry.”