Luxury items though a dream for many are not in everybody’s possession. It hardly happens that we see an advertisement for luxury items on television or social media. Why is it so?? Just try to think about the reason behind it?
It is because luxury items cannot be treated like other products because the customers buying these products are of different segment of the society and needs to be approached differently. But it does not mean that they cannot use the digital platform for marketing their brands and products.
Let us go through some marketing tips for luxury brands online:
Which products can be named as luxury Brand?
When we speak about luxury items, the brands which come to mind is BMW, Mercedes, Gucci, Rolex, Ferrari etc. But what are the features or qualities needed to be named as a luxury brand? As per me, it can be summarised in 3 E’s….Excellent, Expensive and Exclusive.
But the most common thought which comes to mind when we talk about luxury items is a high price, but it is misleading many times as one cannot predict every expensive thing to be termed as a luxury item.
It is rightly said that the luxury item cannot be named as a luxury; if it is a common item possessed by many. The products need to be exclusive either in features, looks and tagged with a brand name, and this exclusivity comes with a price.
Luxury timepieces are designed by best designer, luxury cars by best well-paid engineers and luxury fashion by designers creating exclusive clothes.
Trends in luxury marketing
Research says that it is expected that the sales of luxury items will get doubled by 2025. Thanks to the pandemic where even luxury items have reached way to the digital platform as the stores were closed, and people who were used to using luxury items had to choose the online forum to order. Likewise, the stores had to make way too from store shelves to online.
The coming era will be of the digital market with more and more companies entering the platform.
Marketing strategies for luxury brands
Still, the time hasn’t come where we can say luxury marketing is a synonym to digital marketing. Till date, the advertisements for these products were seen on luxury magazines covering full pages, on television, duty-free stores, expensive resorts or restaurants. But soon it will be said goes are the days where luxury is not everyone’s eye to see.
Competition is increasing by all the businesses, and service providers and luxury items are no exception. To survive and to meet the sales target, the industry has to make way to the digital platform, keeping in mind the requirements and preferences of their customers.
Understand the customer
Since the digital market is still new for these items, the Companies need to enter into the buyer’s persona. A luxury customer of today is a sophisticated, techno-savvy and more selective about the brand to buy and the money to spend. The digital marketers will have to include personalisation, authenticity and latest technology with the motive to maintain the traditional expectations of the audience. To keep them engaged, the marketing team will have to use Omni channel strategies to figure out customer buying temperament and how he/she covets the products they are looking for. While studying the buying persona check on which website the customer mostly prefers to buy, what is the terms of the customer mainly used while doing the shopping? Try and categorise the shopping into different items like handbags, footwear, accessories apparels, etc.
Customers are of different categories, and we cannot apply one buyer persona to every customer. It is very much essential for you to understand and analyse each buyer precisely so that the right product reaches the right customer as the right time.
Marketing strategy for luxury products
Now if you are new to the digital marketing world for marketing your luxury products, do not start with selling all the products on all the platforms together. Instead, try to focus on one word or two social media platforms. Since you have studied the customer’s temperament and the brand and the product you want to pitch them, you will be able to develop a good marketing strategy to drive profitable results.
Now the next step is to define the goals. Let us start with increasing brand awareness, which will ultimately lead to an increase in sales. Once your market digital marketing plan is set up, then the final step is to figure out how to measure your success. If the marketing strategy which you are going to apply is SEO based on increasing the revenue find out how much revenue Google and Bing are responsible for you to generate. If you already have a Google Analytics tracking account but have never set up to track your success, then now is the right time to do it.
Traditional marketing vs the Experimental
Traditional marketing techniques are excellent and useful for marketing luxury items are considered to be having their limitations now in this digital marketing. Apart from that, it is a costly medium for the marketer as full-page ads in premium magazines, or hoarding at an expensive resort increases the cost. On the other hand, the results are not satisfactory.
One of the excellent option suggested is a brand app apps which offer to speak to the customers directly through their smartphones. Apps can be made in a way that it is as responsive as a chatbot option on your website.
Loyalty and its role in the success:
It is a perception that most of the luxury items have loyal customers, the more reliable the customer, the less marketing efforts you need to do. It is often said that loyalty cannot be created; it has to be earned.
Do not worry friends, here I am not recommending to create a Loyalty program for customers neither do we intend to under value your luxury brand, which is anyways having good sales. What we mean to say here is to turn your consumers into fiercely loyal brand ambassadors. The best way to get loyalty is through the quality of your products and the second-best way to do is through the quality of your marketing.
Using influencer marketing works wonders for luxury items. It is a very cost-effective method and gives good results. Check if the influencer you have chosen anyways has followers and who already use luxury products. There are full chances of a half match already won.
The Content :
Being in this business, you are well aware that buying a luxury item is a tough decision. Every consumer purchasing doesn’t swipe his card directly. Many will be studying your product and feature before clicking the BUY NOW button. You need to tell your brand story to your customers and the craftsmanship involved in making a particular item.
Your content adds value to your product. Many luxury items once purchased requires utmost care and maintenance. Blogs, posts and mailers to your existing customer will add value to your brand and create an impression in the mind that you are a Company which is not interested only in SALES but also AFTER-SALES services and guide.
Use the keywords in your content effectively. There is some form of content for every key term. Research and time to time analysis will help you master this.
SEO results :
Search engines are underutilised tools for marketing luxury products. It has been noticed that the website of these products lack content and are not attractively designed for a visitor to crawl around the website. Search engines are massive traffic drivers for your brands and should not be ignored. They have an impact both on the purchase and research phase of your marketing journey. The time and money invested in SEO are bound to give you excellent results.
Luxury marketing is at a stage of up-gradation and is not confined to TV channels. Magazines and billboards. Now it is taking the next step and is investing in digital marketing its tools and techniques. However, success depends on your marketing team and their flexibility to adapt to the changing needs and trend in the market.
Innovation is creative ideas rule this class of products. If you succeed in offering something exclusive from time to time, you will sustain in the business for decades to come.
Digital marketing is a mix of many tools and techniques, and if one option doesn’t work, there are many more to opt for. You need to be ready to accept and implement the change as today’s world is the world of the digital market, and no business can sustain in this competition without entering it.
Hope you got a clearer picture on the topic and the post will be helpful to the people in similar fields. Do contact back to us for any queries and concerns we will be more than happy to assist and serve you.
Happy Selling !!!!