Diamond Producers Association Announces 2017 Marketing Budget Jump to $57M
The Diamond Producers Association (DPA) announced at the JCK show in Las Vegas that it has approved a 2017 full-year marketing investment of $57 million – more than four times the 2016 budget.
DPA Chairman Stephen Lussier said, "The Board's decision is a major turning point for the Diamond Producers Association and the diamond industry. All Board Members are aligned behind the goals and plans of the DPA, which is now fully equipped to fulfill its mission of communicating to next generation consumers about the timeless beauty and emotional value of diamonds. We look forward to working closely with the diamond and jewelry trade and with other industry organizations to build a stronger future for our sector."
Jean-Marc Lieberherr, CEO of DPA, added, "The DPA team and agency partners are ready to execute ambitious plans for the second half of the year. These include multichannel advertising, innovative digital programs, and high-impact PR campaigns. With an investment level of $50 million tied to the US market, this is effectively the full-scale launch of our 'Real is Rare' communications platform.
"Our first-half 2017 activities focused on optimizing, adjusting, and extending the successful PR, digital, and advertising plans built in the US in 2016. We developed programs around major 'tentpole' millennial live-viewing events, such as the Oscars and MTV Movie + TV Awards," Lieberherr added. "Significantly, we also have built a team in India to launch the 'Real Is Rare' platform in that market in September 2017."
Earlier this year, DPA piloted several custom research projects in order to develop insights that have formed the creative basis of several forthcoming campaigns in the US: New print, outdoor, and digital display will debut at JCK on June 6, and a new video campaign will be launched in the fourth quarter. The fully-integrated, expanded asset mix will allow visibility of 'Real is Rare' across all major media platforms, including for the first time ever, select outdoor/cinema and print, spread across many verticals, such as bridal, fashion, and lifestyle. The media plan will now extend well beyond TV and digital, which have been in place since last October.
Industry advocacy and trade programs have also been developed, and DPA will debut a new retail training support program focused on the new diamond narrative in the fourth quarter.