10 marketing strategies for luxury brands that deliver results

Ditto for timepieces. That’s because luxury marketing strategies don’t follow the same rules as mass-market brands. You want to work with the few who have the audience to back it up. What do all of these brands have in common? Ouch. Exclusivity is fundamental to luxury brand marketing as it maintains consumer desire through scarcity and rarity. If you don’t already have Google Analytics tracking in place, now’s the time to set it up. As 2016 comes upon us, the new year is a great time to take a fresh look at your PR and marketing plans. Luxury products are synonymous with high price tags. As a competitor intending to introduce a similar product into the luxury fashion brand perfume market, consumer behaviour has important implications for the design of a successful marketing strategy. While some of this can be explained by altruism, it’s been found that the main driver for liking a charity on Facebook is to show others that you’re charitable. All that’s to say: digital marketing must be a key part of a luxury brand’s strategy going forward. As such, visual social networks like Pinterest represent a huge opportunity for luxury brands to raise brand awareness and advocacy. One of the most effective ways we’ve found to generate traffic and engagement for Qosy is create highly visual and aspirational content, such as our guide to kitchen islands. Given the Internet’s accessibility and autonomy, many luxury brands worry about losing their sense of exclusivity when it comes to going online. As such, ensure that you're focused on marketing the visual appeal of your product through channels like Instagram, Snapchat, and Pinterest. Luxury fashion is created by the best designers in the world. Detailed guides on using and caring for luxury products make for excellent blog posts that can increase brand loyalty while attracting even more consumers. I hope you enjoy reading this blog post. Innovation and adaptation to an evolving customer base have allowed the top 10 luxury brands to continue their dominance in the market. I believe it's one of the best examples of how proper branding, targeting, and marketing can generate incredible revenue. Here are 10 tips to help you create a successful fashion marketing strategy for clothing businesses and brands. Email marketing is extremely effective for eCommerce marketing and increasing customer loyalty, as it provides the opportunity to educate consumers and tell them about new experiences or products offered by the brand. Now it has become evident that companies cannot insulate itself from Global marketing competition by remaining in the domestic market or a few select markets. Exclusivity can be created online through private member groups, concierge services, or digitally-delivered loyalty perks that are reserved specifically for previous customers. Buying a luxury product is often a big decision, and consumers research their choices thoroughly before committing. Keep in mind; you may not have just one buyer persona. We want to create that works for you business size Users of Microsoft’s search engine tend to be more affluent, with 25% of users having an income in the top 25%. Luxury brands need to fully integrate online, offline, technology, and logistics to deliver the 4 C’s: consumer centricity, convenience, customization and consumer contribution. Start using digital marketing for your luxury brand with these three effective strategies: 1. of all online experiences begin with a search engine. This makes content marketing campaigns a must for luxury brands. For luxury brands, the Internet does not represent wider distribution of actual products. It seems that every few months Burberry are running a new online brand-awareness campaign, driving luxury shoppers into their stores. Selling to high-end consumers requires a different approach. Luxury brands have traditionally relied on reputation and word-of-mouth to spread brand awareness. Supply content that appeals to people’s desire to display their status. One way to do that is through the quality of your products. Unsurprisingly, most of those websites also have extremely bad SEO, making it difficult for their websites to rank well in Google for search terms that would otherwise capture potential customers. What will be the first digital channel you use to promote your luxury brand? Within 48 hours of publishing the guide, over 4,000 people had shared it – many of whom were using the guide to show off their own scotch knowledge. Often, exclusivity is achieved by price. Harrods do an exceptional job with their email marketing campaigns, and are well worth subscribing to for email campaign inspiration. Or $50 to advertise as one of the best luxury compact cars. Take the in-store experience online, and the online experience in-store. Global Marketing Strategies  Think globally, act locally is a popular strategy that is becoming more and more relevant in a globalized world where there are no boundaries when it comes to movement of goods and global marketing services. Those shopping for luxury goods are looking for attention to detail and a story for how this product will fit into their lifestyle. Aston Martin do a great job telling the story of their brand heritage on all of their product pages and digital content. Next, define your goals. Use brand heritage to tell the stories behind products. In recent research on digital marketing trends on Luxury brands by McKinsey reported that 80% of luxury sales are now influenced by online. What’s your name? We wrote a comprehensive piece of content about finding the perfect engagement ring that helped traffic from search engines to grow from 20% of all traffic to 30% of all traffic in the first six months of our partnership. In his book ‘Start With Why’, Simon Sinek explains how great marketing starts by explaining why they exist. By focusing on long-form visual content, we’ve generated 10,000’s of social shares, and a huge amount of SEO traffic. Or an Instagram ad for Lamborghini? But what does it take for a brand to qualify as a luxury? Discover the key trends to build up hype among the much coveted young affluent high-end consumers. While I appreciate the need for stylistic design, luxury brands need to invest in websites that are also intuitive and well desgined from a user experience perspective. 10 Marketing Strategies For Luxury Brands That Deliver Results By Marcus Taylor August 12th, 2020 3 Comments Disclosure: We sometimes use affiliate links which means we may earn a commission if you buy something through our links. But that doesn’t mean popular digital channels are off-limits. Today’s high-end luxury brands know that there’s only one Paul McCartney, one LeBron James, and one Beyoncé. What's your yearly revenue? This is made even more impressive when you consider that Chanel do not even have an account on Pinterest (it’s all driven by their advocates). Revenue$0 to $3 million$3 to $10 million$10 million to $50 million$50 million to $100 millionAbove $100 million Charities, for example, are one of the most liked categorises of pages on Facebook. DKNY’s recent addition to the perfume market is DKNY Pure. The quality has to match the price tag. 93 percent. From Supreme collaboration to … Whether you’re running an SEO campaign or a PPC campaign (or both), I recommend developing a highly targeted luxury marketing keyword strategy. (It’s also easier to measure sales increase.). Luxury marketing can no longer be confined to TV channels, billboards, and glossy magazines. You’ll also need to make careful use of your negative keyword list. Generally speaking, this is a bad idea. Chanel has combined offline marketing with digital marketing in a holiday popup event at The Standard in New York. 10 Strategies for Marketing Luxury Brands Online Visual Appeal Translates to Sales: A photo is going to inspire many brand buyers far more than any other medium. The consultancy expects online luxury sales to triple by 2025 when almost one in five personal luxury sales will happen online. An AR app, which could be accessed on the Chanel website or via Snapchat, brought the popup to life. It will include their age, demographic, job, hobbies, salary, and anything else relevant. The last thing you want is for ads for your luxury brand to start showing up in searches containing “discount,” “sale,” or “free.”. Here’s a paraphrased excerpt of how apple communicate with their customers: “Everything we do, we believe in challenging the status quo. Some general characteristics of luxury brand marketing include:. At a product level, fundamentally it must satisfy the functional and utilitarian characteristic as well as deliver on its practical physical attributes – a recipe of quality or design excellence ingredients such as craftsmanship, precision, materials, high quality, unique design, extraordinary product capabilities, technology, and innovation. 1. Sign up to our newsletter. Buying guides put your brand front and center for consideration while providing value and establishing a relationship even before the purchase has been made. This is a staggering figure, and clearly highlights the important role digital marketing now plays within a luxury purchase. Today, few people have one-off products made, but many luxury brand marketing strategies include building elements of customisation into their offer. That could devalue your luxury brand. Developing a marketing strategy to compete in the ever-changing fashion industry can be quite a challenge. Or they can do both, like Supreme. For luxury brands, it’s a cardinal sin. Once you’ve completed a non-essential age verification page, you enter a slow loading flash site that takes about 13 seconds on a high-speed Internet connection to load. When marketing luxury products, photographs are one of the best mediums for evoking the aspirational emotions that we connect with driving a luxury vehicle, wearing designer clothing, or experiencing something exclusive. The more detail you can include, the better. 4. The luxury strategy, invented by the brands that constitute the sector, turns classical marketing rules, as established by FMCG brands to create mass markets, on their head. Building an effective content marketing strategy for a luxury retail brand is not always easy. Rather, you need to turn consumers into fiercely loyal brand advocates. Luxury Marketing Strategy #2: Make Bing a Priority. Data show that high-end brands who embrace digital are winning market shares among the affluent Millennials and Generation Z consumers in Asia. Going digital will also be key to meeting today’s new luxury consumers and those of tomorrow. Focus on one or two to start with, particularly if your luxury brand is new to digital marketing. Incorporating data about your market potential, as noted in this marketing plan example, is a key part of a luxury marketing strategy. Google is one of the most influential channels when it comes to helping luxury shoppers find products, learn more about brands, and make their purchase. One of the trickiest and most desirable sectors to reach is the luxury consumer. While Google should be your focus, don’t forget about Bing. One luxury brand who are leading the way in combining the in-store and online experience is Burberry. The best engineers create luxury cars. It’s understandable why luxury brands have been hesitant to move online. You're moments away from growing your traffic One of the fundamental principles of effective branding is for brands to diligently select a lucrative segment that they can then target through an enticing positioning. It’s a wider distribution of the content that evokes the desire to buy luxury products. Create aspirational content to educate customers. But in today’s digital marketing environment, that spread just isn’t fast enough. Generally speaking, luxury brand websites are very stylish, but perform poorly when it comes to user experience and functionality. Sure, attracting consumers in the research phase of their journey is important. Luxury brands are built on the premise of offering high symbolic value to a very selective segment of consumers that are more focused on high status association… What's your phone number? According to Statista, the global luxury goods market will increase from $285.1 billion in 2020 to $388 billion in 2025.. The conversation is free, and we can explore if working together makes sense. Otherwise, you won’t see results. It is a content marketing spectacle that takes viewers into the world of Chanel through distinct chapters. Performance refers to the delivery of superior experience of a luxury brandat two levels – first, at a product level and, second, at an experiential level. You’ll want to make sure there’s some form of content for every key term, whether that’s a category page, a blog post, or something else entirely. In 2014, McKinsey published a report suggesting that digital now influences at least 45% of all luxury sales. As we’ve already alluded to, most luxury brands have pretty poor websites. Luxury brands are starting 2018 afresh by updating their digital luxury marketing strategy. If anyone could walk into Louis Vuitton and buy a handbag, Louis Vuitton would lose their appeal to those who wish to have something that others can’t get access to. Both are integral to the other. I'm determined to make a business grow. 3. Despite what you might think, online sales of personal luxury goods are growing, too. What should you write about exactly? Just because something costs thousands of dollars doesn’t mean it’s luxury. 1: Get a Website Women’s Wear Daily reported that more than 1,875 fashion stores closed last year, yet according to Statista , revenue in the fashion segment is expected to increase from £360.7B in 2018 to £534.5B in 2022. Take Dom Perignon’s website for example. Build a website that combines style, user experience, and functionality. Luxury brands are on a much higher playing field that consumer brands, and a solid SEO strategy can increase your revenue exponentially. Well, apart from telling your brand story, I recommend using long-form content to help consumers find the right product for them. Now is the time to take your luxury brand digital and invest in SEO, PPC, and whatever social media your consumers use. It makes sense to focus some efforts on Bing SEO. Here’s the thing, luxury marketing isn’t synonymous with digital marketing…yet. If you’re going to use SEO to increase revenue, for instance, find out how much revenue Google and Bing are responsible for right now. Take Apple for example. The CPCs of luxury marketing terms can be expensive, given the competition and the price of products. Many brands consider digital marketing experimental in itself. If your site isn’t SEO-friendly, you’re likely to be leaving a lot of potential traffic and revenue on the table. What’s more, the majority (almost 80%) of purchases made in-store are influenced by digital. Having created our own luxury online platform (Qosy) at Venture Harbour, which has led to helping luxury brands such as Johnnie Walker, McLaren, and Marriott with their digital presence, I’ve learnt a lot over the past twelve months around the do’s and don’ts of luxury online marketing. Putting effort into your marketing strategy and thinking of creative ways to increase your sales, providing excellent customer experience at the same time, is a challenge for any brand on the market. Seeing as the luxury industry has seen continual growth in the past decade, As I said above, creating new content is critical for luxury brands who want to succeed online. That’s why luxury products also need to be excellent. Your content can continue to add value for customers after purchase. Which marketing strategies can help bring luxury brands into the digital age, and where can premium brands find inspiration from their peers? A luxury brand must perform at a… The more time and effort you devote to understanding and implementing SEO, the more revenue your store should generate. Their Pinterest profile is aspirational, educational, and strikes a great balance between not being too promotional, yet still raising awareness of 77 Diamond’s products. Luxury brands have loyal consumers. The way we challenge the status quo is by making our products beautifully designed, simple to use and user friendly (How Apple achieve their why). Enter buyer personas. A luxury brand that I came across who do an exceptional job of marketing themselves on Pinterest is 77 Diamonds in London. Finally, luxury products have to be exclusive. Whether it’s the history of your brand or the craftsmanship of your products, you probably have a lot to say. Today ’ s desire to display their status include: ’ ve already alluded to most. Pinterest represent a huge opportunity for luxury brands to adapt their strategy, we increase the revenue of luxury... Also look messy and untargeted of pages on Facebook department stores hard and forced luxury consumers 1 people one-off. Their arsenal complementarity, if at all of 10 marketing strategies for luxury brands that deliver results luxury product is often a decision., work out how you ’ re going to measure your success integrating. 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