The Pandora Story Part 2

A Recap

We have already discussed in the previous post how Pandora went from a small store in Copenhagen, to manufacturing in Thailand to becoming a global empire for jewelry, the largest in terms of volume!
However, in terms of sales, Pandora has had a bit of a rocky patch. It is no doubt that products like this experience a spike during Black Friday and Christmas, but the question is, how do they stay relevant consistently. It's all about how they interact with their groundswell. In this post, we will look at people's awareness of the Pandora brand, we will do a SWOT Analysis and we will speculate how they can do better in terms of listening to the groundswell and responding back.

"Halloween is around the corner," says Pandora, "Trick-or-TREAT yourself with some of our favorite charms this month"

Brand Awareness / Social Mention

Pandora is doing well in terms of passion, they have successfully reached a 51%.  This means that there is a greater likelihood that people are talking about the brand repeatedly. The sentiments from the audience are more positive than negative. The sentiment is more positive and neutral, as opposed to negative.

We can also say that their reach has expanded because of their latest re-branding effort on August 29, 2019. Pandora's re-brand is an effort to encourage people to personalize and customize their jewelry. This further encourages diversity, self-expression and confidence. The event in Los Angeles (of painting the streets pink) featured #PandoraMuses like model & activist Georgia May Jagger and consultant & writer Margaret Zhang.
This is a way to energize the groundswell! People took pictures in the streets that turned pink and shared it on social media.

Keywords: When searching on Social Media, there are always certain keywords that tend to be picked up. Since Pandora announced that the new face of their organization will be Millie Bobby Brown (from the Netflix Series Stranger Things), the words "Millie", "Bobby" and "Brown" appeared on the keywords. Also, the words collection and charm, which are also common words that we can see on the Pandora website. Their popular collections are Pandora X Disney and the Fall Collection.

A SWOT Analysis

Strengths: This particular brand seems to know their target audience and their changing needs. The target market today is politically aware, diverse and focused on self and identity expression.
According to the book we read (Groundswell: Winning in a World Transformed by Social Technologies), "Companies can connect with their users using this new technology or tap into conversations that are already happening". Pandora definitely taps into existing conversations, let's look at their pop culture collections, their seasonal collections and their newest product.
The Pandora O pendant combines the use of necklaces along with their signature charms.

Weaknesses: Although Pandora has become synonymous with affordable jewelry, they still have not been able to surpass their competitors. Tiffany and Co. has an under $250 range and Kay Jewelers has promotions so often, how will Pandora differentiate themselves? As seen in the social mention analysis, Pandora needs more passionate customers who are loyal to the brand. The graphic shows how Pandora and Tiffany are on the competing range, but still the interest for jewelry in general seems to be higher.

Opportunities: In a tough market, Pandora is relying on various opportunities to make its mark. They are bolstering their brand loyalty by re-branding and using influencers. According to this Reuters article, Pandora is currently doing the following:
1. Double market investments in Italy, the UK and China: This makes sense as Italy is #2 on the interest map and the UK is #5 and China has a huge untapped market. They can also try and boost sales in other

2. Bring in celebrities and digital media influencers to boost sales: Which is what they do in their celebrity collaborations and events.

Threats: Although Pandora has a relatively global reach, they can increase their visibility in countries like USA and the UK where there are the presence of competing brands. Since Pandora plans to market to the general public and not to a niche market, their biggest threat is the large number of competitors. Here is how little interest exists for Pandora as compared to jewelry in general. That means there is a demand for jewelry, but is there the same demand for Pandora?

Recommendations 

1. Instagram: Pandora can focus social media efforts on Instagram and Facebook both. Since more youth is switching to Instagram, more brands are concentrating their marketing efforts of Instagram. This Entrepreneur article highlights how brands like Airbnb, Tesla and Lego leverage the power of Instagram. 

2. Activations and Pop-ups: The re-launch event in Los Angeles proves that an innovative activation idea can go far, especially for a brand like Pandora that is launching new collections and products so often. 

Conclusion

Alexander Lacik, the chief executive of Pandora told NY times "After some soul searching, we've worked out where we need to be: Pandora provides you with the canvas and some brushes and inspiration, but ultimately, you create the picture" 

I think this quote aptly summarizes the new vision of Pandora. They still have a long way to go, more of the groundswell to impact and more change to create, but it's going to be a great journey! 

The Pandora Story Part 1

Introduction

We all know how often Greek mythology makes its way into pop culture and consumerism. A similar story is that of Pandora’s box. Pandora is known as the first mortal woman, and in her possession was a cursed box that held misery, poverty and disease. However, despite its negativity, the last gift that escaped the box was hope. In 1982, a goldsmith in Copenhagen, Denmark, Per Enevoldsen and his wife Winnie opened a local jewelry shop which then expanded into a global empire – Pandora.

From its solid sterling silver ring manufactured in Thailand in 1989, to over 2700 stores globally, Pandora is a force to be reckoned with. The brand is often synonymous with its charm bracelet that allows for personalization and self-expression of women. In 2016, they released their rose gold collection. 

But don’t be fooled, everything is not coming up pink and roses! In 2018, there was a fear that Pandora’s charms were out of fashion! Oh no, right? They’re literally and figuratively its most charming asset. This year, they decided to step up their game. They re-launched the brand on August 29, 2019 by painting the streets of LA pink. #WhatDoYouLove Pandora asked their audience in the groundswell. 

Pandora, like most similar companies performs best around November-December. I believe it is around the time of the Black Friday sales and of course, Christmas. Pandora re-branded just before the Black Friday and Christmas season. 
There is also a spike around Valentine's Day and in May, probably graduation season. That's speculation, though. 

A sneak peek into their social media 

1. Instagram 

Pandora understands that a big part of their groundswell lives on Instagram. So they're currently focusing their energies on letting their brand colors and new brand identity manifest on Instagram. Interestingly enough, they have 7.2 million followers on Instagram, which is less than half of the likes they have on Facebook.

They also use the visually aesthetic grid to enhance the images. 

2. Facebook 

Pandora USA's Facebook is very consistent with its new brand colors. I think Pandora's biggest social media following is on Facebook, with 15.6 million likes. Now it makes sense to see how Pandora really focuses their effort on making Facebook Posts that are interactive and engaging. 

Additionally, Pandora has also been using Facebook to promote a series of events. From Houston to Atlanta to Miami Beach to San Francisco, Pandora has been encouraging their audiences to discover Pandora Me by attending these events. 

3. Twitter 

You can also catch Pandora updates on their Twitter page. The Pandora North America Twitter page ensures to update their audience about products, promotions, etc. Their Twitter is actually divided between Pandora USA and Pandora UK (I don't get why, they should just put it all together). Their Pandora North America twitter has 106k followers. 

4. Website 

The Pandora website is built to be user-friendly and accessible. In my opinion, their most interactive feature is the drop down bar. It features all of their products divided in categories, so they can be found easily. Additionally, it also shows off their signature product, the charm bracelet! 

5. Youtube 

A Youtube channel is not a platform that drives a lot of customers, but in today's day and age, it is definitely useful to have one. Brands love posting HD quality videos of their new launches, their campaigns and basically, what they are going. Besides, who knows when something can go viral! Pandora has 73.8k subscribers on Youtube, it's not a lot, but it's a great start! 

Celebrity Partnerships 

Partnerships with celebrities is a way to energize the groundswell. Pandora has partnered with Colombian pop icon Shakira earlier and their latest brand ambassador is the very well known Millie Bobby Brown. 

In fact, one of Pandora's followers asked who Millie is and they responded. 

Disney and Warner Brothers 

If we have learned anything, it should be that interacting with the Groundswell is complex, it involves listening, responding and most of all, embracing the groundswell. Pandora exhibits this in their partnerships: their Disney and Harry Potter themed jewelry. Their Disney collection includes Pixar, The Lion King and Disney Princesses among others. 

In fact, their Harry Potter collection has not even come out yet, but you can see that people are pumped. Bustle and Mental Floss have written interactive posts about it too! 

Here's what Pandora said: 

With their pink re-branding that encouraged self expression, making Millie the face of the brand and the much anticipated Harry Potter collection, Pandora is definitely on a mission to make a comeback! 

Statistics: Let's get analyzing!

Competitor analysis 

With a product like jewelry, competitors play a big role. Pandora's biggest competitors are Tiffany and Co., and Cartier this how they performed in comparison to them. 

Pandora and Tiffany and Co., seem to have similar trend patterns. Pandora would really to identify something that differentiates the brand. 

A surge of activity! 

Pandora re-branded and re-launched in the end of August. Following that we can see a rise in activity and interaction on Facebook. This is what Social Bakers data compiled. 

Where are the Pandora enthusiasts located? 

We cannot even begin to describe the worldwide reach of Pandora. They opened store in Copenhagen, started manufacturing in Thailand and opened their first concept store in Hamburg. So, yes, it's safe to say that Pandora has sparked interest in geographic regions all over the world. Something unexpected, according to Google Trends, Pandora's biggest social following is in...

*insert dramatic drum roll* 

Puerto Rico. 

And then Italy and Romania. 

How can Pandora spark the same interest in the United States? 

Conclusion

Since it began in 1982, Pandora has seen unbelievable growth. From just one sterling silver ring to new products and collaborations every day, this is a brand that is definitely in touch with its groundswell following. However, the question arises, has Pandora attempted to grow too fast? Pandora needs to find the balance between its global influence and its need to connect with the consumers. 

We can see traces of listening to the groundswell in its latest re-branding effort. 

We will discuss more about Pandora's identity and its nuances in the next part of the Pandora Story! Tune back in to Simrants (Social Media Edition) to know more. 

I will leave you with one question: 

#WhatDoYouLove ?