Why MySolitaireConcepts?

  
 

THE BRAND: MySolitaireConcepts is the first ever Online Diamond and Jewelry Centric Marketplace. Though many marketplaces exist not a single one caters ONLY to the diamond and jewelry seeking buyers. MySolitaire had the foresight to see this niche and established MySolitaireConcepts. A renowned brand, MySolitaire has been in the diamond, gemstone and fine jewelry trade for the last forty years. The company ventured into e-retail in the year 2004 with the launch of MySolitaire.com a leading online diamond and fine jewelry web portal. Sheer passion and extensive e-retailing knowledge of our founders has made Mysolitaire.com triple its revenue year over year for the first three years. Company’s commitment to provide better value for money, extensive product selection, highest quality and top notch service to its customers, has inspired it to adopt an innovative and collaborative  idea and launch its marketplace, MySolitaireConcepts. 

 
 
 
OUR VISION: The marketplace, MySolitaireConcepts strives to provide its vendor clients an end to end sales channel. This sales channel will provide instant traffic, established customer pool and instant sales, ALL HASSEL FREE. The MySolitaireConcepts marketplace aims to be  the ultimate answer to every diamond and jewelry search on the internet. In order to achieve the vision approximately 300+ diamond and jewelry centric sites will be launched by the end of 2011 under the MySolitaireConcepts umbrella, each site exclusively dedicated to a different
 
  segment of the jewelry market.  
   
 

WHY MySolitaireConcepts: Online retail is a rapidly growing and widely accepted sales channel but at the same time it is highly competitive. Online retailing not only requires investment in time, money, resources and technical infrastructure, it also requires building a level of trust with potential customers. MySolitaireConcepts marketplace will provide a turnkey sales channel that may take years otherwise to establish. A few advantages the marketplace provide are highlighted here but there are numerous more:

  
 
  • First ever Diamond & Jewelry Centric Online Marketplace
  • PREMIUM Domains Access
  • Instant Trust & Credibility
  • Instant Sales
  • Proven Model
  • Direct Retailing to Consumers
  • Zero Hassle - We do the work, you just ship
  • Minimized Risk
    Get paid via ACH into your Bank Account
    No Long Term Contract
  • Centralized Maintenance
  • No Technical Knowledge Required
  

 

FIRST EVER DIAMOND & JEWELRY CENTRIC ONLINE MARKETPLACE
MySolitaireConcepts is the first ever Online Diamond and Jewelry Centric Marketplace. Though many marketplaces exist not a single one caters ONLY to the diamond and jewelry seeking buyers.
With its unique proposition MySolitaireConcepts marketplace has more than 20 live sites targeting vast number of jewelry segments. Approximately 300+ diamond and jewelry centric sites will be launched by the end of 2011 under the MySolitaireConcepts umbrella to be  the ultimate answer to every diamond and jewelry search on the internet.

MySolitaireConcepts validated its unique proposition by launching three beta sites in 2009 and the theory proved successful. The three beta sites produced a large number of unique visitors and sales.  The following graph depicts the increase in number of unique visitors in the last five years. It becomes obvious how the number of unique visitors is showing a remarkable bounce with just the launch of three sites www.myblackdiamonds.com, www.myperidotjewelry.com and www.myinitialpendants.com . The estimated number of unique visitors shown for end of the year 2010 only accounts for 20 live sites. It is estimated that each new site will easily add more than 200000 new unique visitors per year to this marketplace. Simple math would tell you that the number of unique visitors could touch 60 million by end of year 2011 with 300 sites live.

 
   
 

PREMIUM DOMAIN ACCESS
MySolitaireConcepts owns several “Premium Domain Names” like EmeraldJewelry.com, RubyJewelry.com, SapphireJewelry.com, OpalJewelry.com, TanzaniteJewelry.com, SwissBlueTopazJewelry.com, SkyBlueTopazJewelry.com, LondonBlueTopazJewelry.com and many many more. The marketplace is in constant negotiations with other premium domain owners to obtain those domains for its member vendors.
What is a Domain Name? –
A ‘Domain Name’ is the most crucial key to reach the customers; it is the name the website is listed on the internet. It is the identity of the website; self-explanatory of the business type and function of the website. For example www.Shoes.com   or www.music.com very clearly states what the website is dealing with.
How does a Domain Name Work? –
This is very interesting; imagine if you go shopping in an unknown market, you know what to buy but do not know where to get it from. What do you do? You look for the advertisement banners, shop names and their display windows to try to figure out the type of shop it is. However on internet there is no physical market place or display window, but there is a search portal like google.com that will help you reach your destination. You need to type what you are searching for and the search engine will list the websites that match the search criteria. There is however a small catch here, the search results bring forth all the websites that have the search keyword, which could mean hundreds of pages of results. A user does not always browse through all the listings and will usually stop after the first few websites listed on the first page. This is where the domain name comes into play. Customers  looking for ruby jewelry will obviously type Ruby Jewelry in the search and because we own this name and because we have optimized our sites for the search engines we will be one of the top in the search results and surely receive a visit from that customer.
If a customer decides to directly type the url without searching these premium domains will be the ones the come to the mind of the customer first. Don’t you think if you wanted to buy a pair of coach shows you would first think of going to www.shoes .com or www.coachshoes.com?
MySolitaireConcepts understanding the importance of these domain names has already purchased numerous domain names and thriving to get many more. One such example is Emerald Jewelry which tops the search for emerald jewelry and is listed third when searched for Emeralds.

INSTANT TRUST & CREDIBILITY
MySolitaireConcepts’ flagship site MySolitaire.com has been working on this for last six years. It has built trust and credibility in the online and offline market that would otherwise take years to build. The brand MySolitaire is synonymous with highest quality, better value for money, extensive product selection, and top notch customer service. There are thousands of satisfied customers that help build the trust and credibility with other potential customer through word of mouth. MySolitaireConcepts would continue building and strengthening this trust and credibility with our customers by making sure each vendor product and each vendor has been screened for authenticity and meets the criteria MySolitaireConcepts strives to maintain. In the very near future the marketplace will launch several customer loyalty schemes to retain customers as well as strengthen the trust and credibility.
INSTANT SALES
MySolitaireConcepts promises to give its vendor clients instant sales as the marketplace is receiving more than 2 million unique visitors per year. Numerous sites launched till date are already revenue producing and others can be revenue producing as soon as they are populated with some products. The flagship site, MySolitaire.com, continues to move forward strongly and will be a key driver of sales initially for the marketplace.
Instant sales means that the sites to be launched in our initial phase are already up and running. The marketing teams within MySolitareConcepts has been working at establishing relationships with others and optimizing the sites for the search engines. Before even a single vendor product is uploaded on these sites, the sites are receiving significant traffic. Now all they need are products and vendors to ship those products.
Not fully relying on new unique visitors, MySolitaireConcepts is launching several marketing programs to capitalize on thousands of repeat customers acquired over the last six years of operation of MySolitaire.com

  

 

 

PROVEN MODEL
MySolitaireConcepts and its team understand what customers are looking for, how to get that to the customer and what needs to be done to ensure this is done effectively and in a timely fashion.

The sales and marketing model MySolitaireConcepts adopted has been proven and working since 2004 for MySolitaire.com. The model has been tweaked continuously and in some cases revamped to ensure continued growth and sales. The prime example of this successful model is MySolitaire.com. When others were faulting, MySolitaire.com has consistently grown since 2004.

 

Extensive research was done in 2008 on customer purchase behavior, site navigation, search engine optimization algorithms, technological advances, etc., This research was integrated in our marketplace and to prove this new model  www.myblackdiamonds.com was launched in 2009.  That site is receiving a large number of traffic due to generic traffic from search engines as the site is listed top in several keywords. It had more than 10,000 visitors with in its first few days of the launch. The first order on the site was received within the first week of the launch. The site currently has approximately 6000 products listed and more than a thousand unique visitors a day.

The enhanced marketing model is proven at all levels of search engine marketing. The sites are positioned at top of searches at Google, MSN, Yahoo and other search engines. MySolitaire.com, the flagship site, is on first position or first page of search engines for hundreds of keywords. Our recently launched sites such as www.myblackdiamonds.com, www.myperidotjewelry.com, www.mygarnetjewelry.com, etc., are all on first search page of search engines for many keywords.

The technical model of the website has also been proven and working since 2004. Several major overhauls have been made to adopt new technology and methodologies. Our sites have been proven to convert and capture sales. Our experience over the last six years has helped us pinpoint small changes that have helped in better sales.

The product selection of MySolitaireConcepts has helped drive better sales and is proven. This knowledge can be used to help the vendors select products that can sell based on previous experience and continuous research done.

 

DIRECT RETAILING TO CONSUMERS
MySolitaireConcepts marketplace aims to provide an established, proven and extensive platform to enable vendors to sell their products directly to the online consumers. Even vendors with no or very little knowledge about e-retail can list their products and sell online with minimal hassle. This direct sales channel will help the vendors boost sales and profits. The advantage can be summarized in these two points below:
Higher Profit Margins - In the current sales cycle a vendor would sell the products to a retailer which will in turn sell the product to a consumer. In this chain the vendor works on a smaller margin as the retailer needs to be able to markup the product to pay for the expenses incurred for each sale. When the vendor sells direct to consumers on the MySolitaireConcepts marketplace they would be able to offer the products at lower than retail price but still be able to increase the profit margin. As the middlemen in the selling chain disappear with the marketplace the consumers will get a better deal and the vendors will make better margins.  It’s cost effective, profitable and highly lucrative to sell directly to consumers through the MySolitaireConcepts marketplace.
Better Sales - As the consumers get better price they would come back to the marketplace and in fact the same vendor and purchase repeatedly. The consumer will also in turn spread the name of the vendor and marketplace to others which will bring referral sales. It becomes a win-win situation for both as consumers get a better value and the vendors get more sales. 

ZERO HASSLE - WE DO THE WORK, YOU JUST SHIP
MySolitaireConcepts marketplace strives to provide a robust and hassle free platform where the set-up and operational burden is taken away from the vendor. The vendor will only need to upload their products on the website, ship them and enjoy the sales. In short we are providing a TURNKEY solution to our vendors.
Conventionally setting up a website requires knowledge of the web; technical nuances, huge investments for setting-up the website, launch, promotion, advertisement and marketing; dedicated time and resources; yet wait for the customers to reach your site. MySolitaireConcepts provides all this without any extra investment of time, money and effort. Teams are already in place to support each business and technical function the marketplace would need. Their goal is not met by launching and promoting the sites but to achieve higher traffic and sales level for each and every vendor on the platform.
Once the vendor subscribes to the marketplace they will be provided with whatever level of service they require to get started and to continue to grow.  MySolitaireConcepts will offer end to end services such as:

  • Creation of Product Feed- The support team will hold your hand initially to create and upload these product feeds. If the vendor wishes they can opt for a service where MySolitaireConcepts can do this on a regular basis for them at a nominal charge.
  • Shoot, Edit and Upload Product Images- MySolitaireConcepts can provide all photography services at minimal cost to the vendors. Every image will be edited as per the specifications needed. If image has to be cleaned and enhanced MySolitaireConcepts will do that as well, as a service.
  • Shipping Labels – MySolitaireConcepts support team will help you setup a shipping methodology or MySolitaireConcepts can provide pre-paid shipping labels to ship the products to the customers.
  • Customer Service - MySolitaireConcepts will provide its proficient customer support team to the vendor to deal with all the customer care issues.
  • Marketing Management- MySolitaireConcepts team of experts will take care of all the marketing strategies, plans and their success.
  • Training - MySolitaireConcepts support team will train each vendor on how to use and maximize the ability of the platform.
  • Product Selection – MySolitaireConcepts products team will help devise a product selection strategy for each vendor based on their individual strengths.

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CENTRALIZED MAINTENANCE – part of zero hassle
As the MySolitaireConcepts marketplace strives to provide a robust and hassle free platform to the vendors the biggest challenge was to provide a centralized dashboard across all our offerings. This was successfully implemented and now the marketplace runs from a centralized dashboard. When the marketplace expands from 20 to 300 sites it will still be controlled from one central dashboard. Some major advantages of a centralized dashboard are listed below:

  • One point of contact: All item management, order management, payment information,  accounting management and reporting system is centralized. No need to look at several different places to get to your marketplace data.
  • No miss outs - An individual product will be listed on all the websites it fulfills the criteria for. For example a Blue Sapphire Ring will be displayed on Sapphire Jewelry, Blue Sapphire Jewelry, Gemstone Jewelry and Mysolitaire.com. Hence making your product reach maximum number or customers.
  • Automated changes across all sites: If you intent to change or add anything to your product list, all you would have to do is update the changes at the central system. The same change will get automatically updated on every site the product is listed.
  • Summarized Information: All vendor reporting is available in a summarized version across all the sites the marketplace supports. 

 

MINIMIZED RISK
One of the biggest factors in venturing into e-retail is the risk exposure. MySolitaireConcepts has taken it upon itself to devise a platform with minimal risk for the vendors. 

  • Pay commission only when your product sells -We at MySolitaireConcepts have a simple and practical policy, we charge you for results and not assurances. You pay a small monthly fee for using our services and then pay a commission ONLY when your product sells.
  • Maintain low level of inventory -The vendors are not required to spend any extra money to maintain a huge inventory of products. They can list to sell only the products that are in stock and ready to ship. If something is not in stock simply remove it from your active products and you will not receive orders on it until you have it back in stock.
  • No capital risk - Since the vendor is not investing in the creation, launch, marketing and maintenance of the website his capital risk is completely zero.
    GET PAID VIA ACH INTO YOUR BANK ACCOUNT

Reliable, astute, legal, quick and hassle free; all the financial transactions at MySolitaireConcepts will be done via Automated Clearing House (ACH). We strongly believe in the fairness of the business transactions giving least botheration to our valuable vendors clients, thus we have chosen ACH for all financial transactions.
ACH is used by both the government and private businesses for over 10 years now. It is trusted to deliver secure, reliable, innovative payment processing solutions designed to reduce costs, increase revenues, and streamline business operations. Best of all is that the money is deposited directly to your bank account without extra waiting time for the mail to arrive.

  • NO LONG TERM CONTRACT

We want our vendor clients to first thoroughly scrutinize our system, operation and processes then make a decision. We are confident that once you collaborate with us you will never want to leave. Our sales model will instantly boost your revenue without any botheration of creating or managing the site, marketing and customer service. The vendor benefits in multiple ways -
We definitely want to see our relationship with the vendors grow with time however we do not bind any of our vendors in any long term contract. You pay only for the months that you are subscribed with us.

 

OUR PHASED APPROACH
2nd Quarter 2010 – 20+ Niche Websites
4th Quarter 2010 – 50+ Niche Websites
1st Quarter 2011 – 100+ Niche Websites
4th Quarter 2011 – 300+ Niche Websites

Phase 1 Domains:
MySolitaire.com
MyLoosediamonds.com
MyBlackDiamonds.com
MyPeridotJewelry.com
EmeraldJewelry.com
RubyJewelry.com
SapphireJewelry.com
TanzaniteJewelry.com
Opaljewelry.com
MyDiamondStuds.com
MyGarnetJewelry.com
MyCitrineJewelry.com
MyAmethystJewelry.com
MyAquamarineJewelry.com
MyBlueTopazJewelry.com
MyBlueDiamondJewelry.com
MyChampagneDiamonds.com
Myinitialpendants.com
WeddingRingsHome.com
Riversmile.com (Silver Jewelry Site)
MyPearlJewelry.com
GoldJewelryHome.com

 

It worked for us and we believe it will work for other vendors alike. We assure to assist you to make your business profitable at MySolitaireConcepts. We are ready to share our experience, vital insights and guidance that is vital to stay ahead