The complete guide to Luxury Digital Marketing 2020
The Objective of this article:
To help every luxury brand to build a holistic online digital marketing strategy that aids organic growth and propels the brand forward.
Of course, the fact that you will reach your target audience and achieve or even surpass your sales goals would be a by-product of this exercise.
We all know what digital marketing and effective social media marketing can do for sales. We have heard or read innumerable success stories about how someone leveraged the power of digital and achieved phenomenal success. However it is important to understand that like in real life, the online world also works differently for different niches.
You could see a lot of crowd almost daily outside an ice cream shop selling pocket-friendly ice creams and on the same street, you might see a luxury car showroom drawing almost zero customers for days and months even. However, whenever the car shop sells even 1 car it achieves a turnover that cannot be juxtaposed against that of the ice cream store at all.
The above example is not to belittle or glorify any business but it is simply an example of how all businesses are the same yet different. Same in the sense that every business needs customers and has to make a profit and Different in the sense that the marketing methods applied to pull customers could be vastly varied.
The same applies to digital marketing and of course to luxury digital marketing – the topic of discussion in this particular article:
Let us start by asking a few fundamental questions:
What is Digital Luxury Marketing?
Online marketing strategies for promoting a luxury brand or product or service including social media marketing, websites, search engine optimization, email marketing, blog writing, e-newsletters, etc. constitutes digital luxury marketing.
Is it possible to market luxury goods and luxury services online?
Do luxury buyers (read wealthy & rich people) surf online or use Social Media?
Yes, they surely do.
Why should I learn about digital luxury marketing?
If you are a part of the luxury industry in any way whatsoever, the following data should spur you to jump on the digital luxury marketing bandwagon with utmost zeal, immediately.
The size of the global luxury market is more than USD 1 trillion annually and increasing healthily year on year. A sizeable piece of the luxury pie is yours for the taking if you can inculcate and apply some of the core online luxury marketing tactics for your luxury business.
Push versus Pull – Luxury’s golden rule
On the face of it, one could argue that the best way to market luxury digitally would be to simply spend big and have your luxury brand muscle its way into the online ecosystem via search engines and also hog Social media as much as possible. This solution might look easy but remember we are dealing with luxury and a PUSH strategy for luxury can be detrimental. Luxury actually sells itself and to force sell luxury can prove fatal for the brand itself. Desperate selling can sound the death knell for a luxury brand. So everything that you do to market your luxury products online or offline should ideally be based on the PULL strategy.
How can one create a PULL strategy for luxury marketing online as well as social media marketing?
Let us look at 5 essential steps to build a PULL strategy for your luxury marketing:
1. Attention to details – the golden rule for luxury
One of the first quotes that you find when you google for “Luxury quotes” is a quote by Hubert De Givenchy. He simply states that “Luxury is in each detail”.
This simple yet profound 5 worded quote is literally a golden commandment for an established luxury brand or an aspiring luxury brand. Attention to each and every aspect of your luxury product / service and also to every aspect of marketing/presentation whether it is offline or online is absolutely critical. There is no scope of compromise when it comes to paying attention to each detail. All your focus, energy and passion has to be directed towards getting the micro things in complete order and the macro picture will take care of itself. It cannot work otherwise. In other words luxury as a concept is a holistic approach to your own work / product and that approach automatically permeates every aspect of your brand including marketing & communication.
2. Quality versus Quantity
To mass produce luxury is impossible. Luxury is luxury because it is limited in nature. If you look at the first commandment of luxury it would be absolutely clear. Luxury demands absolute focus, undivided attention and uncompromising commitment. Therefore luxury takes time. It evolves. It demands nurturing. It requires patience. The focus therefore has to be absolutely on quality and not quantity. Your digital luxury marketing strategy has to have this rule in mind to ensure that each piece of content going up on your luxury website, your social media handles and every piece of communication that your brand is associated with has quality of the highest possible degree. The amount of content could be on the lesser side but at any cost the quality of content has to be supreme, always.
3. Fact Check
Ensure that every blog that you post under your luxury brand or every news article that is shared is genuine and well researched. Verify facts before they get posted since there would be celebrities that are generally associated with luxury brands and any wrong communication from your end could end up harming your luxury brand’s reputation.
4. Do not overdo
Everything your brand does online creates a digital footprint and you want to leave behind good stuff. Remember that luxury does not overdo. Luxury is stylish, it is subtle, it is classy and it is graceful. You look at some of the some of the biggest icons of luxury and you will notice one common trait in all of them. They never seem to try too hard and yet they appeal to us. When you try too hard to impress, you fail to impress. Therefore get the best professional help that you can while designing your luxury logo, your creatives, your graphics, while writing luxury content, posting social media messages, etc. Do not compromise on quality, ever. (I know that’s repeated but trust me it’s worth repeating and remembering too)
5. Keep it simple
Over complicating things just to look the “luxury” part is not advisable. Keep things as simple as possible. These would include your messages, videos, images, creative, slogans, etc. Keep uniformity in terms of your brand logo, colours, patterns so that users can see and feel the same luxury brand across various online platforms. This will help them connect and reconnect to your brand throughout their online experiences.
A quick ready reckoner for digital luxury marketing:
- Find out the searches related to luxury digital marketing in your niche.
- Refer to case studies of advertising strategy of luxury brands online that have been successful.
- Research and find luxury marketing words and phrases applicable to your luxury business or category.
- Search, study and apply suitably ideas from the best digital luxury brand advertising campaigns.
- Apply a luxury strategy in every aspect of your luxury brand & online related activities.
- Remember always that the pull factor is the best while selling luxury digitally as well as otherwise.
- Seek digital luxury branding tips from luxury aficionados and apply them diligently to your online luxury marketing efforts.
- Refer to luxury brands' social media case studies and inculcate key findings in your own social media activities.
We will help you download the Luxury Abode luxury brand marketing strategy pdf by clicking here in some time to come.
You can browse through some of the best luxury brand digital marketing case studies here.
Now that you have covered the macro aspects of the luxury digital marketing game, let us now take a plunge into the micro details of an all rounded digital strategy including technical aspects to be followed diligently by your luxury brand.
The following are the 10 most essential and crucial luxury digital marketing mantras that one should follow for finding real success:
1. Become a luxury thought leader in your niche:
Everything that you do across all your digital presence should make people stop and notice. The best way to do this is to share new thoughts, unravel new ideas, discuss luxury stories, share your luxury brand’s philosophy and become a thought leader in your luxury space. So focus on content, experience, substance and the take away that a user will have after visiting your luxury website, social media handles or any other way that a user experiences your luxury brand. The finesse, sophistication, grace and savoir faire should reflect in every conversation that you have with your users and of course the luxury knowledge that you share with your audience should enrich them. Your target audience, peers and industry colleagues should look forward to your next announcement, upcoming story, next post or your next online update. If you can create a sense of purpose, a sense of excitement and a sense of fulfillment then your luxury brand will attract your target visitors because they will find value in everything that you do.
2. Formulate the Right Luxury Digital Strategy
With a solid foundation laid for your luxury foray, it is time to construct the right strategy with a clear road map and tangible set of goals.
A few important points could help you define a clear online marketing strategy for your luxury business:
- Based on the luxury product or service that you are offering, start with the simple task of identifying your audience and based on the same you can determine where you can find them.
- Once the overall audience mapping is in place you can start working towards a plan to reach this particular audience with the correct message to create the perfect impression.
- An extremely affluent audience has to be approached differently and treated differently to create a strong pull for them towards your luxury business. This will take creative thinking, attention to details and of course precise execution
- Set your brand guidelines in place and float all your communication materials around your luxury brand guidelines.
- Set your goals based on your specific luxury vertical, market niche, unique selling proposition and so on.
- Set measurable targets with regards to all your online and social media assets and work diligently towards achieving the same (for example x number of visitors in 3 months, x number of newsletter sign ups in a month, x amount of product queries in a span of 4 months, x number of Facebook posts, likes, etc.)
3. Understand your luxury business goal
Your business goals could vary based on the timing of your launch, the condition of the market, trends in place at that point in time and various other factors. With the help of a basic understanding of the metrics and the pulse in your luxury segment, you can plan and execute a dynamic online marketing campaign. With time your goals could and should change. For example in the initial stages the objective could be to create awareness about your luxury brand, gain traction among the right audience and once a certain number is reached, the goal could shift to effecting actual sales, converting potential buyers into actual buyers, etc. Your strategy would be hugely dictated by your immediate and long term purpose. Once you can define the purpose of luxury offering clearly, the digital marketing part would be much easier to execute.
The most crucial aspect to your luxury digital marketing strategy has to be a commitment for the long term. Your focus has to be to create a luxury brand that is organic, consistent and true to its customers. Sporadic bursts of digital pounding will not help your luxury brand in the true sense. Build it carefully, lovingly, passionately and for good.
4. Brand connection through brand story
You have heard this millions of times before but it definitely deserves repetition: Content is King. This is especially true when it comes to the luxury business because the quality expected from any aspect in this category is always very high. It is therefore imperative to develop good, meaningful, insightful content related to your luxury category. This can be done by in depth research, case studies and of course your own understanding of luxury.
Content could be the blogs that you publish, it could be the newsletter that you develop, it could be a creative that you share on social media, etc. Essentially any size or form of content has to be of supreme quality. Once a good content is in place, publish it on your luxury website and share across key online platforms so that it gets a good exposure. Share it with luxury thought leaders and with experts related to the luxury field. The best way is to reach out through social media handles. If there is enough juice in your luxury content and if you have made things interesting then nothing is going to stop your luxury bandwagon. Luxury content with a good narrative will always have the chance going viral and eliciting good response. The best way to connect to your luxury audience is through stories – written, visual, etc.
5. Outline a detailed digital marketing plan
Luxury is in the details and so does its marketing including digital. Since our topic is luxury digital marketing we are focusing on the same right now. However it would definitely be understood that luxury marketing has to be absolutely holistic in nature and should touch all aspects including digital, print, video, brand consistency, etc. A detailed, foussed and well written digital marketing plan should help save you time, money and energy while embarking on this journey.
Your plan should include the following:
- Objectives (measurable results expected)
- Materials required
- Team / specialists required
6. Share your brand philosophy
Your digital presence and your online marketing strategies are ultimately only as good as your luxury brand is. It is extremely crucial to let your users experience your brand in as much honesty as possible. If you are sincere about your luxury brand’s vision, mission, values, the essence of your luxury business will automatically permeate every aspect of your online as well as offline sojourn.
Everything has a reason to exist and so does your luxury brand. You have to set a very clear communication for your users to understand and appreciate the value that your luxury company, product, service brings to the table. It is therefore imperative to hire a good and professional luxury digital agency to co plan and execute every macro and micro level aspect of your digital luxury marketing.
Strong luxury marketing begins with a strong communication that explains the reason for your brand’s existence, the heritage behind the brand, the legacy, the purpose (ideally a higher purpose than to just make money), the morals, the current gaps in the market and how your luxury brand has managed to or will manage to fill the void. Albeit, the most indispensable quality of a luxury business and all communications related to it is grace. Ensure that your brand has grace as an inseparable quality ingrained in its soul.
7. Ensure good Search Engine Optimization for your luxury website
If your luxury website or luxury portal is not ranking high enough on Google search, you are losing a lot of quality business and a lot of good clients. Referred to as inbound traffic, inquiries originating through Google search or other search engines are invaluable when it comes to any online business and this is more applicable when it’s a luxury business. Remember the push vs pull strategy in the beginning of this article. Well, inbound traffic is part of the pull strategy and it will work only when your luxury website is highly optimized for Google search as well as for other search engines. It essentially means that a particular user was actually searching for the luxury service or luxury product that you are offering and then found you after doing the Google search. That translates into an “interested” prospect finding you when he or she wants to and that kind of lead or query is absolutely priceless. Therefore you need to ensure that your SEO fundamentals are in place with the prefect balance of relevant copy, strong backlinks, regular updates, good site architecture, on site optimization, regular updates and all other major and minor SEO essentials. A strong Google ranking for your luxury business related keywords and key phrases can work wonders for your business as it will increase quality traffic to your luxury website exponentially. Make a list of all possible luxury keywords that your target clients would possibly use to search for your business. You could actually get a proper analysis and research done for the same. If you own a property website, you can refer to this article where you can seek services like Real Estate digital marketing.
Ideally you should hire a highly professional luxury digital agency who understands digital marketing as well luxury business thoroughly. A good digital marketing company with an understanding of the luxury market can be highly instrumental in catapulting your luxury website from oblivion into Google stardom. However there are no shortcuts to Google search rankings and you have to work hand in hand with the agency to share quality content regularly and make sure that there are only white hat search engine optimization techniques being used. Once your website starts ranking high on Google search and with other search engines, you would be pleasantly surprised with the quality and quantity of inbound client inquiries that your luxury website will start generating regularly. It is at this point (and always) that you should keep improving & enriching your luxury site’s content diligently and on a regular basis so that all users can find value and attraction to keep coming back for more.
8. Social Media - go digital, visual & viral
Any good luxury digital marketing agency will suggest using social media marketing for your luxury brand strongly. Social media is definitely a part of the new age luxury selling techniques and a major part of the advertising strategy of luxury brands across the globe today. Almost all social media are hungry for good, interesting content, good images (visuals, photographs), good videos, animated clips, etc. By creating a good array of interesting images, messages, luxury content that resonate with the luxury connoisseurs as well as the young generation and the millennials, your luxury social media marketing can effectively reach the target audience for your luxury brand faster than you can blink your eyes.
From the smallest to the biggest social media marketing agency, everyone knows the power of quality photographs to flame emotions and elicit meaningful responses. Keeping your luxury product or service in the context, create images that kindle aspirations, stimulate passions, trigger excitement and you will see the magic. Your target audience will not only appreciate but also help spread your luxury message across the social network. This is exactly the single most power of social media – the power of any good, strong meaningful content (especially images or videos) to go viral in a jiffy.
The main attractive factor in any social media ecosystem in varying degrees is the “viral” factor. Any good, useful, inspirational, relevant, quality material that your luxury brand posts, can reach scores of your target audience immediately and convert them into your ‘followers”, “influencers” and your brand marketers for years to come. Isn’t that just simply awesome!! Click here for an in depth understanding about social media marketing for luxury brands.
Enlist major social media channels into your brand’s luxury digital marketing and promotional strategy. Pinterest, Facebook, Instagram, Twitter and YouTube are the must have social media channels in your luxury marketing mix and a proper understanding by going through some of the leading luxury brands’ social media case studies, you can fathom the way to use each one to your advantage. Of course it would be more prudent to take the help of a luxury creative agency to penetrate the online luxury market more effectively.
9. Luxury & Exclusivity are two sides of the same coin
As a luxury business owner and brand it definitely is worth reminding yourself, whether you are marketing offline or online, that luxury needs to feel exclusive. The very essence of luxury is its limited, exclusive and special nature. Therefore all your luxury digital marketing efforts have to ensure that the sense of luxury is maintained through all your communications. You should not try to market forcefully and desperate marketing for luxury is a big NO.
Luxury customers prefer to have an experience that is graceful and classy. The basic element among your online luxury selling techniques should include the overall experience that your brand creates with exclusivity being the underlining factor and this has to be the cornerstone of all your luxury advertising strategy.
The very expanse of the online world and the reach of online marketing can make it a daunting task to maintain an air of exclusivity while promoting your luxury brand. There is a common fear that one might lose the feeling of exclusiveness after joining the ‘crowd’ online. It is challenging but definitely possible as many digital luxury brand marketing case studies prove the same.
Let us have a look at Brand Gucci as an online luxury marketing case to discuss the exclusivity quotient more effectively.
When you search for Gucci on Google you end up getting https://www.gucci.com/int/en/ as the first result. This is obviously Gucci’s official website and its international page.
Before we dive in to the discussion about the Gucci website design let us first speak about the nice pop up that immediately shows up when this website renders.
Have a look at the image below:
‘Welcome to Gucci. You're entering our International site, which presents the Gucci collection available through our boutiques around the world.’
Gucci is making it clear to its legion of luxury audience and of course the aspiring new set of target luxury audience that this site is an international site and the collection represents the exclusive products through its ‘boutiques’ globally. The dictionary meaning of boutique is ‘a business or establishment that is small and sophisticated or fashionable.’ A giant luxury brand like Gucci is in that sense implying that its luxury clients can buy Gucci fashion through small & exclusive Gucci boutiques. The word boutique immediately arouses a sense of exclusivity, limited edition feeling and it delivers the perfect message that a discerning brand conscious luxury consumer wishes to hear.
There is also a sense of practicality in the next set of lines which reads as:
Online shopping is currently available in U.S., Canada, Europe, Middle East, Japan, Korea, China, Hong Kong (China), Australia and New Zealand. If you have a local residence in one of these markets for delivery and would like to shop online:
Change your country/region
Otherwise, continue using our International Site.
The important thing about the above information is clarity. At the outset even before its luxury clients start browsing the Gucci luxury merchandise, brand Gucci clearly communicates the online shopping and delivery options in certain regions and request patrons to choose any one region, if applicable to them. This clarity would definitely encourage online luxury buyers from these regions to shop online Gucci website and get their ‘luxury’ delivered easily. The moral of the story is that luxury brand communication has to be clean, crisp & clear.
Also the Gucci website page title reads as ‘Gucci Official site. Explore the world of Gucci online’. It does not say explore the world of luxury or explore the world of fashion online or explore the world of exclusive luxury, etc. Again the message in a very subtle manner suggests the luxury consumer to explore ‘the world of Gucci’ thereby implying that it is an absolutely exclusive world of luxury and fashion and that world is GUCCI. It is limited to brand Gucci and it therefore extremely exclusive for Gucci customers.
Of course the Gucci website is well laid out, clean, spaced out comfortably and all other User interface and User experience factors are well taken care of which you would expect from a luxury brand like Gucci. The major noteworthy factors, however, are the attention to details while communicating at the outset as well as throughout the website. It oozes exclusivity and luxury without shouting, in a very subtle and organic manner. This is exactly what a luxury customer is looking for – a classy experience, offline or online.
It is important to ensure that your online luxury marketing for your brand uses the right luxury words and the overall content creates an aura of an exclusive luxury experience that stimulates a desire to purchase in the target luxury audience. You need to work with the right luxury digital agency or luxury content writers & content creators to help you manifest the right online luxury presence for your brand.
Once the basic and fundamental background is in place, your luxury brand can work with a professional luxury marketing agency or you could think of various ‘exclusive’ perks that you could offer to clients visiting you online. These perks could be an entry to a ‘by invitation only’ club for handpicked members or offering an exclusive curated luxury experience for being a prime customer or anything that makes your luxury customer more special. Of course you need to be prudent about the compatibility and feasibility of each and every offer but the root message is that every online customer for your luxury brand has to be treated with velvet gloves and this luxury experience has to built-in in every micro and macro level of your communication. Attention to details as a luxury brand owner is therefore a must and this is truer when you go online.
As the great Hubert de Givenchy has rightly said
If a luxury brand were to follow this as their marketing mantra and their basic luxury marketing strategy across all platforms – online or offline, exclusivity will follow and so will luxury customers.
10. Start a conversation to understand
Francis Srun, the Founding Director of Retail Performance in his book ‘Luxury Selling’ has shared a wealth of knowledge with regards to selling luxury to affluent clients and one of the line that stood out for me among many other things was
This is such a profound observation by Francise Srun and it aptly sums up one of the most important luxury selling techniques that one can apply and incorporate offline or online to their luxury business. Luxury sellers need to appeal to their luxury clients’ aspirations, dreams, passion and feelings. It is a subtle process and to be very honest it is basically being absolutely understanding & humane. This has got nothing to do with salesmanship nor is it a ‘marketing tool’. Essentially it is being empathetic to your luxury client and this means that you should have the courage to even de-sell or not sell if you sincerely realize that your particular luxury product is not in sync with his or her aspiration.
Starting a conversation is part of this subtle luxury selling technique (I would also call it the ‘luxury understanding technique’) where you actually immerse yourself in your luxury customer’s shoes and genuinely understand his or her needs.
As your luxury selling training tip keep this as one your most valued luxury selling strategies and always remember to apply it whenever you come across a customer. Of course when you have a real customer in front of you (for example in a luxury retail store) then it would be relatively easier to speak, communicate and understand body language, to gauge the customer’s needs and then follow up accordingly. Applying the same luxury understanding technique online is a different challenge altogether.
Based on your customer’s topic of interest you can build a small online conversation module on your luxury website to actually understand his or her requirement in depth. You can service the requirement further accordingly. As an example, this brief ‘conversation’ would be based on certain pre designed questions that could serve vital information about your luxury customer’s like and dislikes. Of course you can customize the questions based on the specific luxury category or luxury topic that you deal in. Your recommendations or suggestions would automatically gain more relevance when they would be founded upon the clients’ specific needs or concerns or likes, etc. A live chat option tool that is not too intrusive, subtle yet “caring’ can make your online luxury customer feel special. A genuine client will surely share details if the luxury client executive on the other side can spark an interesting conversation and be ‘understanding’ in the whole process. The true art of luxury selling is in the authenticity and truth of your approach. There are some luxury websites that have also integrated AI enabled chat bots and apparently as the AI gets developed further and further they seem to be doing a pretty decent job. However, the real luxury would be the soul and instinct that a real human would provide to a discerning luxury visitor on your website, any day.
Whether you discuss luxury selling techniques for the retail luxury market or you discuss luxury selling ideas for the online world, the basic underlying principal remains the same – a sincere & bona fide intention. Rest is just incidental. Period.
11. Balancing revenues & grace
As of 2019, the digital marketing business is zooming at a break neck speed. With multiple online marketing options available it is very easy to get carried away in the digital hustle and bustle. Many luxury as well as other businesses have wasted a lot of money due to the 'digital marketing chaos' that is created due to an information overload. Not only marketing bucks many companies have compromised their reputations or their brand personalities by over online indulging or indulging incorrectly. Your online brand reputation will affect your brand as a whole and the repercussions will be felt across all channels. Hence it is extremely critical to understand the essential points to avoid wastage and to achieve healthy returns on your advertising investment. Along with marketing returns in terms of business, in the case of marketing for luxury brands it is also about protecting the brand values while trying to reach the target luxury audience. The grace and class that a luxury brand needs to carry cannot be compromised with and this is a very delicate balance that luxury businesses need to maintain while foraying into online marketing.
Therefore it is paramount to approach your luxury advertising strategy with a clear mind and create the right luxury digital experience for all your customers. A successful online luxury marketing strategy is always organic, planned and well crafted. Like in the offline world, you cannot rush digital luxury brand building as it is a gradual process and your presence and activities across the entire online landscape work in unison to help propel your brand forward.
12. Planning your luxury marketing budgets & being flexible
Like most of the things in life, not all luxury products are the same. In terms of their use, their prices, and their needs – of course they are as different as chalk and cheese. It is therefore almost impossible to have a blanket rule when it comes to deciding your luxury digital advertising spends.
Let us consider the following scenario:
- Considered among the 15 Most Luxurious Jewelry Brands in the World, Harry Winston which was founded in New York sells exquisite high end jewelry and luxury timepieces.
- Burgess Yachts is perched on the top when it comes to the luxury yacht industry globally. Being 44 years in the luxury yacht brokerage business it has 13 offices worldwide.
- Monaco based Boutsen Aviation is a ‘business aviation’ company founded by Thierry Boutsen, an ex-Formula One professional. It provides complete management of aircraft sales transactions from corporate jets to helicopters.
- Andamen is an Indian origin global luxury shirt brand that sells some of the most exclusive & exquisite luxury shirts online.
- Founded by Simon Dabadie, Dab Motors is a 2 year old company based in Bayonne, France. It manufactures and deals in an amazing range customized luxury motorcycles.
As is evident from the above examples all the mentioned luxury brands dabble in different luxuries that have completely different price tags and of course a wide range of customers that have one thing in common – good taste. The will to buy, the time to take a decision to buy and the actual action of buying would differ for each of these brands. Also the chances of all luxury products of these brands being bought online are definitely not equal. So although with all the online marketing spends and smart digital luxury strategies with a strong social media presence too, depending on the type of luxury business, one may or may not be able to sell luxury goods online.
Therefore the planning for each luxury brand has to be unique and based on the type of luxury that the brand is promoting.
For a high end jewellery company or a company that sells yachts or a company that sells jets the price range of the luxury products is such that targeting potential buyers through a social media campaign or other digital marketing channels might not seem the right thing to do. The target audience falls in the ultra-high net worth category and this category is believed to be not so active on social media or online, generally.
However many luxury branding experts do not view this in such a straightforward manner. Their logic is that brands catering to the ultra-niche category of clients need to invest in an Omni channel marketing exercise that helps them make the right impact online to actually intrigue customers to either inquire or visit their brick and mortal luxury set up or even visit your brand at one of the luxury expos or events. This size and kind of purchase mostly does not happen without the luxury connoisseur brooding over each and every aspect of the product in detail as per his or her time & convenience. The human element, the trust factor and the credibility of the luxury brand have to impeccable as the investment is herculean. It is almost impossible to push such kind of luxury sales.
Another interesting factor pointed out by luxury marketing gurus is that the millennial is the customer that brands have to start nurturing as we step into 2020 and beyond. And of course the millennial is absolutely tech savvy, digitally active, socially connected and therefore will respond far more effectively to your luxury brand’s digital overtures. By going deep digitally every luxury brand is investing in its customer base of tomorrow. Your online presence, your digital perception will help you from a stronger connection with your not-so-future customers and obviously give you the vital head start over other luxury brands that have failed to recognise and act on this opportunity.
Consider all online touch points and segregate them on basis of analytics, demographics and your potential target customer base. Whichever digital platforms including social media channels resonate with your luxury brand have to be invested in a calculative manner. Ideally some tangible form of metrics have to be designed with your digital luxury marketing agency or your in house team while starting and continuing with any online marketing activity.
The challenge is that since luxury buying is mostly done non-digitally, there would hardly be any tangible metric of online sales. Rather for such high end luxury brands, the more measurable metrics would be increase in brand awareness, change in offline footfalls, increase in the number of queries, social media response, etc. These metrics if gathered and responded to, appropriately, will become the cornerstone of your luxury brand marketing strategy.
The Omni channel aspect is also highly crucial for extremely high end luxury product selling businesses. Offline luxury marketing and word of mouth influencer campaigns need to carefully mingled into your luxury promotion scheme of things. Your luxury brand can benefit hugely by participating in real high net worth events, high end luxury shows, and by associating with compatible luxury activities. This will help your luxury brand get discovered, spoken about, respected and all the real people that happen to rub shoulders with your brand would in more ways than one become your luxury brand ambassadors in the real ‘offline’ world. That would definitely help as we discussed at the beginning of this section that the ultra-rich mostly like to deal with real and genuine people while buying ultra-expensive luxury things.
Founder and CEO of Realspace Assets LLP, a seasoned industry hand with hands on work experience of more than 15 years’ in real estate. He has also managed to put in place a highly organised core team consisting of deal makers, real estate marketing professionals, computer programmers, web .Read more..