Things to Consider When Marketing Luxury Brands.
It is glaring that customers in this age spend more time on social media than they do watching television or reading high-end magazines. Note that those were once the primary advertising channels for marketing luxury brands. However, with some changes in customer behaviour, brands need to adapt rapidly and engage with them where they are. Marketing luxury brands involves more intentionality, an in-depth study of the ideal customers, and further items for consideration as discussed in this article. So keep reading.
Among the numerous definitions of the term ‘luxury’ on the internet, one caught our attention the most. Luxury is a material, object, service, etc., conducive to sumptuous living, usually a delicacy, elegance, or refinement of living rather than a necessity. From this, we can deduce that luxury brands are makers of products that meet the standard of elegance, quality, and has the ability to improve life but aren’t particularly necessary.
Major Points of Consideration when Marketing Luxury Brands
Before we proceed, be aware that not all expensive products fit into the group of luxury brands. So be sure you are using these tips the right way.
Your Audience is Unique, Treat Them That Way
Unlike regular or common products, you must come to terms with the fact that luxury products aren’t produced for everyone. This means the users of such products are unique and should be classified and advertised to, differently. An important task to engage in before marketing luxury brands is to create a buyer persona that fits each of your ideal customers. Creating this is a lot easier when compared to other common products. This is because makers of luxury products do not just launch products, they engage in thorough customer research and more. Now marketers can learn from the data they have gathered during that stage. Most especially, your buyer persona should consider users’ income and financial status, as well as their demographics. If a luxury brand has several products, each product must have a separate buyer persona.
Create Add-On Products Rather Than Free Ones
When you attract people with free products, be sure that they won’t be ready or willing to buy an expensive product like the one you are marketing. Instead of creating free products to attract customers, your best bet is to create add-on products to accompany the main item you are selling. For example, buy a Chanel Bag and get a Chanel lipstick along with it. You get the idea right? Sure you do.
Doing this will also prevent you from applying keywords like ‘free’, ‘cheap’, and more when running paid campaigns. Else you’ll keep targeting individuals who are in no way the type of customers you need.
Provide Quality Premium Content
If you intend to run an email marketing campaign as one of your digital marketing strategies, this point is worth considering. Content marketing is an integral part of your marketing effort. You need to keep creating content that enlightens and educates your audience on why they should buy your luxury product. Since these products aren’t so necessary (as described in the definition at the top), they require a little bit more marketing, unlike other products in high demand. Apart from the general content available to your audience on your website or blog, you should consider creating an insider group that has exclusive access to your premium content.
Run Influencer Marketing but Do So With Caution
The waters of influencer marketing is one you need to tread with great caution. Be sure that any influencer you use in marketing a luxury brand is one with a good reputation and possesses the highest level of moral uprightness. This is important because the last thing you need is them dealing with a scandal that can ultimately bring down the brand’s reputation. When selecting influencers, go with those who are recognised faces in your industry or that regularly advocate for or show off your products.
Just before we wrap things up, you have nothing to lose if you dedicate some time to monitor other luxury brands to see how they are marketing their products. Maximise social media platforms, especially Instagram, which is a more visual platform to showcase and market your products effectively. Furthermore, monitor how your audience engages and interacts with your brand. As a luxury brand, you can only enjoy word-of-mouth marketing if you put out excellent and exclusive products that your customers can’t stop talking about.
In fact, word-of-mouth marketing proves to be one of the most effective channels you have at your disposal when marketing luxury brands. Everyone wants to have a taste of a good experience, it now depends on whether they are willing to pay the price. In all things, do what works best for the brand. Has this article been helpful? Before you run off, drop us a 5-star rating below.