The internet may not at first appear as the perfect channel to market luxury goods, but in fact, digital now influences luxury sales by up to 45%. The internet is now home to more than just cat videos and social media, it now houses some of the biggest brands in the world, and if you don’t have a website, then this is the first thing you need to be creating. It is understandable why so many larger, more luxurious brands were hesitant in moving online, but as there have been significant declines in both print and display ads there is nowhere else to turn.
Consumers now spend most of their time online and on their mobile devices. Luxury brands need to adapt and get with the times of these marketing trends if they want to thrive and succeed in a new world. In this article, we will go through some of the best marketing strategies for luxury brands to consider in 2023.
What is Luxury Brand Marketing?
Luxury brand marketing is a combination of strategies focusing on targeting more affluent users that you would have once found on more traditional media. These strategies focus on creating optimum brand value and gaining that pricing power advantage by using different branding elements such as uniqueness, scarcity, prestigious clients, heritage and lineage to create the biggest advantage. It is important to remember that a luxury brand signifies affluence, quality and prestige, so it is extremely important to market these qualities and keep this in line with your brand.
Top Luxury Brand Marketing Strategies
Thorough Brand Storytelling
Your brand story is of huge importance when it comes to luxury brands and making it coveted. In standard marketing strategies, we tell a story to create a need for potential clients. When it comes to luxury brands, they are often more expensive alternatives that people don’t need, so we aim to focus on encouraging consumers to want the product.
For this reason, your brand story needs to focus on your tradition, heritage and beauty. This is also a great way to show off the lifestyle you want to portray by showing quality inspirational images that make people want that lifestyle and want to feel part of the select few who own your luxury brands. When you are promoting on social media, it is important to remain consistent with your storytelling as it should be the same type of story as your physical stories. Highlight key elements of your brand such as the scarcity of materials, the skill you need for training, your expertise and also comfort (if applicable).
There are some things you need to keep away from when promoting luxury brands such as concepts of convenience ad effectiveness. Instead, it is important to show the value in a way that is easy to understand. Just because a client is affluent and is after quality goods, they may not at first be able to determine quality, so show them.
Understanding the Luxury Consumer
When you are creating your luxury brand marketing strategy, if you hope to reach the audience you want, you need to first understand everything about them. Understanding your target audience has many benefits. Once you delve deep into understanding your audience, you will be able to determine what their nuisances are, their income level, the jobs they have, the education they have and much more. One way to do this correctly is by creating a range of buyer personas with a description of your ideal consumer will help to determine your ideal customer.
Buyer personas include details on the demographics, salary, age, profession, hobbies, needs, wants, nuisances and anything you feel you will be able to use to your advantage. By creating these personas you will have a much better understanding of who your target consumer is, what they want and how to market your product or service and convert customers.
Take Advantage of Visual Social Networks
When marketing luxury brands, photographs are your best friend as they are the perfect medium for conjuring the aspiration and emotion that people connect with when experiencing something exclusive such as wearing designer clothing or driving a luxury vehicle.
For this reason, it is essential to show your worth on social platforms such as Pinterest and Instagram. These platforms offer huge opportunities for success and raise brand awareness. For example, Chanel is one of the most pinned brands on Pinterest and has at least 1000 pins per day. The more interesting part of this fact is that Chanel doesn’t even have a Pinterest account, this is all done by their advocates.
Build a Website Combining Style, User Experience and Functionality.
When it comes to luxury brands, you will notice that some websites are extremely stylish, while others are just confusing, slow and not user-friendly as these are made to disrupt the natural order of things. If you really want to ooze luxury, keep it smart and simple, but offer so much class that people don’t want to leave. For example, there are some websites such as Dom Perignon and Chanel. Both these sites look stylish, but the issue is that it is not user-friendly and it takes about 10 seconds to load. This is not what you need when getting your customers to buy from your website.
Examples of well-made websites include brands such as Aston Martin, Balenciaga and Gucci as the sites are user-friendly, show luxury and have high functionality. If you don’t already have this type of website, hiring a design agency Leeds based will guarantee amazing results. If you are selling luxury products, you will not be able to do this on a cheap website that doesn’t function well.
Use Facebook Ads To Target Luxury Shoppers
Facebook ads and social media advertising is one of the most effective forms of marketing due to the ability to segment and target specific audiences. For example, targeted ads can specify the age of your audience, income level, demographics and also people who shop at specific brands such as Gucci, Balenciaga and Alexander McQueen. If you wanted to go further, you can even target education and where they work, the type of music they like and much more for a more specified audience.
Don’t Underestimate SEO
Google can not be forgotten when you are marketing. It is where you are going to be found by your customers and it is also going to be a place where you create ads and target your audiences. It is also a huge influencer when it comes to encouraging your audience to find products, learn about brands and purchase brands.
It isn’t surprising that when a luxury brand has a poorly made website, it also isn’t optimised for search engines. This makes it extremely difficult to get the website ranking for relevant search terms. This then makes it harder for consumers to buy from you directly which is a mistake, as this will bring more returns than third-party stores selling your product. Optimising your website for relevant keywords, it will help to get ranked and bring qualified customers to your website.
There are many forms of marketing, but for luxury brands it is slightly different. Ensure that you show your worth, heritage and quality and you will have a great start to your luxury brand marketing campaigns.