1. 2014 RapNet Online Marketing Strategy
A brief online marketing assessment by Darrell Cohn
December 9, 2013

2. Introduction
RapNet is the diamond industry’s leading trading
platform for buyers and sellers worldwide. Over the
course of 2014, it seeks to increase the number of
subscribers by at least 30,000. The coming year will
also see the broadening of the product line through
the creation of new and innovative software (native
and SaaS) that will compliment the current offerings
of TradeLink, TradeScreen, Inventory Link, Excel
Add-In, etc. A rebranding of the RapNet brand is
also being planned. The RapNet portal will become
the only online resource that industry members will
need for their one-stop-shopping diamond needs.

3. Four Steps For The Plan of Attack
1. Targeting Your Market:
Who should your strategy be aimed towards? Who do you
want to sell to and focus on?
2. Locating Your Market:
What channels should you use to find them? Where are
your customers likely to be in the online world?
3. Attracting Your Customers:
What will you offer your potential clients once you’ve
found them, in order to entice them to consider your
product?
4. Converting Your Customers:
How will you turn the potential customer into a paying
customer? What will you use to make the sale?

4. Step 1: Targeting Your Market
1.
2.
3.
4.
5.
6.
Businesses that sell diamonds
Businesses that buy diamonds
Businesses that want to check diamond prices
Businesses that want to network
Jewelry shops
Current customers of competitors (discover
where competitors are focusing their marketing
efforts)
7. Newer diamond market entrants

5. Step 2: Locating Your Market
1. Online channels your strategy should consider
focusing on:
A. Content Marketing:
This is already being partially achieved through the
Rapaport Magazine, diamonds.net, and the iOS app
B. Social Marketing:
There is a Facebook and Twitter RapNet presence,
but there are under 1,000 followers on each
C. Ad Retargeting:
Using AdRoll or other retargeting vendors, to display
retargeting ads to potential customers as they visit
other sites

6. Step 2: Locating Your Market (con’t)
1. Online channels your strategy should consider
focusing on:
D. Paid Search:
A quick Google search of “diamond trading platform”
lists RapNet as the 15th result, and on the second
SERP
E. Affiliate Marketing:
Turn current subscribers into lead generating
machines
F. E-mail Marketing:
Consider additional e-mail campaigns, in addition to
the Rapaport Price List, and the weekly newsletters

7. Step 3: Attracting Your Customers
1. Provide visitors to RapNet.com the information they need
to make an educated decision
A.
Ensure a superior user experience using responsive web design
( HTML5, CSS3) on:
i.
ii.
iii.
B.
Consider additional services such as:
i.
ii.
C.
Desktops (PC and Mac, even though most users are on PCs)
Mobile phones
Tablets/phablets
Customer service chat capability
Community forums
Emphasize RapNet’s focus on morals, ethics, and peace of
mind:
i.
ii.
iii.
Recent partnership with Escrow.com
www.ethicalpledge.com
Working to thwart synthetics

8. Step 4: Converting Your Customers
1.
Prove and emphasize that RapNet is the premium, most-trusted,
and well-established diamond trading platform on the Internet
A.
B.
C.
D.
E.
F.
2.
3.
Add reviews and testimonials sections (think Trip Advisor meets
RapNet), as well as current customer list
24/7 access to global diamond markets
No commissions (buyers and sellers deal directly)
Advanced, customized search functionality
First-to-market in 1980; constantly evolving and innovating
Top-tier customer service
Ensure that the signup process is painless and transparent
(demographics gathering, payment submission, invoicing,
recurring payments, etc.)
Marketing Analytics to tweak and increase conversions
A.
B.
C.
Report on the past
Analyze the present
Predict and influence the future

9. [Step 5: An Unorthodox Approach]
Consider testing B2C marketing
Scenario: Jon, a 25 year old male, walks into a
diamond shop for an engagement ring and doesn’t
like what he sees in the display cases. He asks the
owner if the store uses RapNet, and can they search
together for other stones online. Think of the
marketing campaign Intel used: “Intel Inside”. If
jewelry shop customers are asking for RapNet, that
will lead to an increase in subscriptions. Brick and
mortar locations can advertise, “RapNet Powered”,
leading to customers like Jon preferring them over
other stores.

10. In Summation
RapNet has done a great job of maintaining its
position as the go-to diamond price index for
polished diamonds. In order to increase the number
of subscriptions by 30,000, it will need to execute
an aggressive online marketing campaign that finds
new B2B customers and convinces them to signup.
Analyzing the past, present, and future trends will
ensure that marketing dollars are spent effectively,
and that the strategy’s course can be altered in realtime to accommodate for inevitable changes in the
market.