Barbara Jarabik: Luxury brands are all about creating an experience that is exclusive, aspirational, and memorable. However, luxury brand marketing is more than just creating a beautiful website, using celebrity endorsements or influencer marketing. To really stand out in today’s luxury market, brands need to be strategic, laser-focused, and customer-centric in their marketing efforts. Hopefully these luxury marketing strategy tips will help you create a winning strategy and to gain loyal customers.
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.
Exclusivity is fundamental to luxury brand marketing as it maintains consumer desire through scarcity and rarity. 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. Given the Internet’s accessibility and autonomy, many luxury brands worry about losing their sense of exclusivity when it comes to going online. This, however, is flawed logic.
For the majority of search marketers, Google advertising is the be-all-end-all. Bing and other networks (Yahoo Gemini among them) tend to exist in their arsenal complementarity, if at all. Generally speaking, this is a bad idea. For luxury brands, it’s a cardinal sin. According to Bing, nearly one third of its audience has a household income of $100,000 or more. What does that 30% mean, exactly? 160 million unique searchers. 5 billion monthly searches. But perhaps most important to your business is the fact that Bing allows you to reach 59 million people who aren’t reached on Google. Yes, for the most part clicks on Bing are cheaper than they are on AdWords. This is awesome. But the network’s real value is the fact that you can get an additional 118 million eyeballs (a third of which have are attached to six-figure incomes) on your luxury goods.
Generally speaking, luxury brand websites are very stylish, but perform poorly when it comes to user experience and functionality. Take Dom Perignon’s website for example. 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. If you’re still around, you reach a website that’s very difficult and confusing to navigate. The Chanel website is very similar in that, while the colours and visuals are nice, the design is so unintuitive that it’s almost impossible to find what you’re looking for, let alone buy anything. Find more information at 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 global market is expected to grow at a CAGR of 12.21% to reach USD 910 million by 2023. Digital signage mirrors can greatly improve 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.