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.
Use influencers to make products go viral: Did you know that 39% of brands plan to increase their budget for influencer marketing? You should, too. Influencer marketing is one of the most cost-effective advertising strategies you can invest in. You can pay a social media influencer or another brand with a large loyal audience to promote your product. This can easily have a much better ROI and cost-effectiveness than PPC or many other approaches to marketing a luxury business. The key is to find influencers who share similar values and target audiences. Otherwise, you will be advertising to the wrong group of people and won’t see much results from your campaign.
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.
In fact, Chanel are one of the most ‘pinned’ brands on the social network, with over 1,244 pins of Chanel products pinned on the social network per day on average. 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). A luxury brand that I came across who do an exceptional job of marketing themselves on Pinterest is 77 Diamonds in London. 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. Read extra details at Barbara Jarabik.
Digital signage mirrors are another way for luxury brands to advertise efficiently : The world digital signage mirrors market was valued at USD 780 million in 2021. The global market is expected to grow steady at a CAGR of 12.21% to hit USD 910 million by 2023. Digital signage mirrors can vastly 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.