We’ve all heard that diamonds are forever and that the little sparklers are a girl's best friend, but did you know that diamonds are worth only a fraction of what consumers are asked to pay for them?

How is it that one company manages to keep convincing us that diamonds are so valuable? The world's diamond trade is essentially dominated by one formidable power – De Beers – which controls the lion's share of worldwide diamond trade.

The notion that diamonds are extremely rare and valuable is based on decades of marketing. But why would a company pay people not to sell their product?

De Beers, of course, wants to perpetuate the notion that diamonds are rare and therefore expensive. And it seems to be working – diamonds are still regarded as being a great investment that keeps its value “forever.”

So just what can bloggers learn from the diamond empire?

• Perception is everything: Diamonds are coveted because their marketing has branded them so.

If you want to increase the perceived value of your blog, try working towards increasing the number of comments your postings get – comments and feed subscriptions are the only barometer you have for your blog's success.

• Know your market: Don't spread yourself thin by wasting time, energy and money on advertising and social activity. Focus on your desired readership.

• Be there or be square: brand your blog as the "It" thing to read. Here too, the more subscribers you get through social media, the better. Make sure to make your readers feel engaged.

• Maintain professional ethics: Don't market something you don't believe in. People will realize that you're dishonest and then your reputation will be ruined. 

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A special post written by: Steven Silverstein, IDI New York's Managing Director

After getting back to reality after Vegas, I have had a chance to put-down some of my observations from the week's events.
 
The JCK show was either a marginal success, or a marginal failure - depending on whom you spoke to. 

I met with several people, exhibitors and non-exhibitors, Israelis and Americans, and the general sentiment was that the show was obviously much more quiet than last year.  That having been said, it was less quiet than many people expected; those who came expecting the worst - were pleasantly surprised. 
 
One American wholesaler, with whom I shared the galley of the plane on the flight back to New York from the show (sorry FAA regulations and seatbelt signs - it was a long and delayed 6 hour flight...), said that this had actually been his best show in a number of years.  He originally exhibited due to the "obligation" of participating (many felt it was a show you "had to do, regardless of whether you wanted to do it") but in reality he had made some new customers and several sales which were profitable.
 
Simplexdiam, which specializes in closeouts of jewelry, had a resounding success with their booth which sold such ex-bankruptcy items from Christian Bernard and other jewelry retailers who have recently shut their doors.  So much so, said CEO Yogesh Madhvani, that "we had an average of 15 customers in the booth at all times".  They reportedly sold more than 60% of their stock at JCK, and have recently purchased some additional 20,000 pieces of jewelry from the Colibri closings which will be added to existing inventory from Fortunoff and others.  Simplexdiam's items are in increased demand; In today's economy, everyone likes a deal...

Those seemed to be the exceptions - and many people made their best profits in the casino at night rather than the Show during the day. 
 
I recall, with fondness, the final day of the show, at 3:45pm when everyone was in the midst of packing up their showcases:  I was in the 2000's aisle speaking to an American exhibitor when suddenly someone in the 3000's aisle burst into a round of applause.  Everyone peered out from their booths to see what the commotion was and who was applauding - with questions of "what was that?" and "who was clapping", "does anyone know what just happened?".  Without missing a beat, one exhibitor remarked "I think someone sold a stone" - which led to an eruption of laughter to lighten the mood.
 
Some of the various events and conferences were better attended than others.  I attended the Jewelers for Children Cocktails, the LeVian/Harper's Bazaar Red Carpet Fashion Show, as well as the Women's Jewelry Association (WJA) Evening.  Those were very crowded and well attended.  These events all had one thing in common - an open bar, which was well anticipated after the hard days at the Show.  The WJA evening had one more unexpected feature - 25% men which, attendees happily told me, was an unusually high male turnout for such gatherings.

IDI's Managment Team

On the other hand I was told that the Rapaport seminars, Indian Diamond Coloredstone Association Dinner, National Colored Diamond event, and others were much less attended.  (There were even reports that some of the seminars were unable to draw panel participants.)  What these had in common was that they were either planned over the weekend (when many had not yet arrived) or during the daytime (when most people were focusing on the show itself). 
 
Networking, marketing, displays of new jewelry lines, and some socializing thrown in; all components of a successful Show.  Not to mention the slot machines at the Venetian which saw their share of diamantaires - as the ups-and-downs were a throwback to the now familiar market environment.
 
Business by day, Vegas by night - all in all, another JCK experience which was far from uneventful...

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Photo Credits: gmonster25 & Mark Heard

After conquering the world of dancing cats and the lovable babies, YouTube, the internet's most watched video website, has opened its first ever channel devoted entirely to diamonds and diamond companies. And you are the stars! 

IDI has also opened diamond communities on social media networks such as Facebook, Twitter, and LinkedIn, and also opened its very own blog.

Here are the top five social networks that will best help you and your business get connected:

Facebook: Today the largest and most common social network on the internet with more than 68 million users and 1.2 billion visits each month. Users of Facebook can join a networks organized by their city, place of work, school, etc, and interact with other people. Groups on Facebook (just like the group opened by IDI) allow people with a common interest (personal, social, or business) to share thoughts, ideas, news, and information and connect with one another. Click here to go to IDI's Facebook page.
 

YouTube: The internet's largest and most watched video website that features videos uploaded by users, including movie clips, music videos, video blogs, and now the new channel dedicated entirely to promotional videos uploaded by the Israeli diamond industry and its companies. Although YouTube is more commonly known for silly amateur videos, it has been successfully used in both commercial and political campaigns, including Barack Obama's race to the White House. So far 38 companies have been featured on the channel and more are yet to come. Click here to go to IDI's YouTube video channel.

Twitter: Twitter the newest and hottest social network on the internet. The idea behind Twitter is called "micro-blogging" where users send and receive short updates called tweets about their daily lives or business. Although fairly new to the social networking scene, Twitter has amassed a close to six million users. If used wisely, Twitter can prove to be very effective in the marketplace, offering the opportunity to expand business contacts and communicate briefly and clearly. Click here to go to IDI's Twitter profile.

LinkedIn: A veteran in the internet networking scene, LinkedIn is a business-oriented network designed to make business contacts between its users. The idea behind LinkedIn is the ability to make business contacts through a common acquaintance, similar to the concept of "six degrees of separation":  using your friends to contact one of their friends. Isn't that what networking is all about? click here to add me to Linkedin: http://www.linkedin.com/in/israelidiamond And join our LinkedIn group by clicking here: http://www.linkedin.com/groups?gid=1908833.  

Blogs: Originally derived from the term "web log", blogging allows anyone with internet access to say just about anything they want on any subject. Many blogs provide commentary or news on a particular subject; while others function as more personal diaries. Today, many commercial and public websites use blogs in order to provide a more personal or expert look into a particular subject. The idea is to find an interesting subject and slowly gather a following of readers, thus promoting yourself, your ideas, and your business. Click here to go to IDI's homepage blog.