Jarábik Barbara: Marketing luxury brands can be a challenge, as there is often a fine line between creating an image of exclusivity and making the brand seem unattainable. So, what are the key components of a successful luxury marketing strategy? Here are ten tips that will help you reach luxury consumers without compromising your brand identity: Keep it simple. Luxury brands should avoid using too many words or complex images in their marketing materials. The goal is to convey a feeling of sophistication and exclusivity, not to overwhelm potential customers with information.
It needs to look and feel the part: Sure, the price can be hundreds or thousands of dollars, but does it feel and look that way? When you hold a Louis Vuitton purse, drive a BMW, or wear a Rolex, it doesn’t feel like it’s your average product. The attention to detail, materials, and engineering all make these products worth their price point to the correct audience. Imagine trying on a watch. The bracelet jingles, it’s flimsy and looks like something you’d buy at the dollar store. That’s not luxury. The 18k gold and diamonds instantly make this model look expensive and luxurious. You don’t have to question whether it’s a high value product or not. The appearance, weight, materials, and everything used to create it tell you the whole story.
For luxury brands, the Internet does not represent wider distribution of actual products. It’s a wider distribution of the content that evokes the desire to buy luxury products. Translated to the offline world, effective digital marketing is like running more advertisements on buses, or more TV ads, or having more stores in Central London. Exclusivity can be created online through private member groups, concierge services, or digitally-delivered loyalty perks that are reserved specifically for previous customers.
There’s a reason Gucci doesn’t do infomercials for tiger print duffels. That Equinox doesn’t offer a discount for January first’s newly health-obsessed. That anthropomorphic Hamsters break dance in front of Kia Souls instead of Range Rovers. Advertising for luxury brands tends to focus on, well, luxury. The happiness they inspire. The quality. The sheer opulence that becomes a piece of one’s life when he or she buys free-range leave-in conditioner infused with dolphin tears, or an ornate bottle of some top-shelf botanical cordial. Whether you’re storyboarding a TV spot or building out an ad group in Google Ads (the artist formerly known as AdWords), your target audience needs to feel as though your product or service is a physical manifestation of luxury.
According to a report by McKinsey digital now influences at least 45% of all luxury sales. It’s understandable why luxury brands have been hesitant to move online. Yet, with print and display advertising returns decreasing, and luxury shoppers spending more time online and on mobile devices, luxury brands need to not only adapt to survive in the digital universe, but to thrive also. While the strategies outlined below will provide useful inspiration, it’s worth pointing out that the best strategies will always come from clarifying your goal, breaking it down and brainstorming brand-specific solutions with your team. For this we’d recommend using a tool like TrueNorth or one of the marketing planning tools mentioned here. Discover even more information on Barbara Jarabik.
Digital signage mirrors are another way for luxury brands to advertise efficiently : The global digital signage mirrors market was estimated at USD 780 million in 2021. The world market is expected to grow at a CAGR of 12.21% to hit USD 910 million by 2023. Digital signage mirrors can greatly increase individual efficiency by choosing outfits as per weather updates while also offering bus and train schedules (including traffic updates). Digital signage mirrors in smart homes, planes, commercial spaces, hotels, etc. are designed to be connected to users as well as with different devices around. Energy efficiency is one of the major advantages that will drive the adoption of digital signage mirrors.
