Both are integral to the other. Use the keywords you’ve discovered above to guide your content creation process. Hence we present you with 10 tips and tactics of marketing a luxury brand. Having created our own luxury online platform (Qosy) at Venture Harbour, which has led to helping luxury brands such as Johnnie Walker, McLaren, and Marriott with their digital presence, I’ve learnt a lot over the past twelve months around the do’s and don’ts of luxury online marketing. If you don’t already have Google Analytics tracking in place, now’s the time to set it up. One of the fundamental principles of effective branding is for brands to diligently select a lucrative segment that they can then target through an enticing positioning. For the majority of search marketers, Google advertising is the be-all-end-all. Data from the Deloitte Global Powers of Luxury Report tells us that the top ten luxury power player brands make up 48.2% of luxury sales of the top 100 luxury brands. Luxury Marketing Strategy #2: Make Bing a Priority. Try to advertise as the “top watch maker” on Google, and you’ll pay $80 per click. Me neither. 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. Because one of the primary motivations for buying luxury goods is to display status, brands can take advantage of this by creating and publishing content that, when others share, will make them look stylish, smart, or cool to their friends. An AR app, which could be accessed on the Chanel website or via Snapchat, brought the popup to life. 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). 10 Strategies for Marketing Luxury Brands Online Visual Appeal Translates to Sales: A photo is going to inspire many brand buyers far more than any other medium. The best engineers create luxury cars. Or you could take things even further by integrating augmented reality features. What’s your email address? Selling to high-end consumers requires a different approach. But what does it take for a brand to qualify as a luxury? How can we get in touch with you? Bing and other networks (Yahoo Gemini among them) tend to exist in their arsenal complementarity, if at all. Now you understand who your customers are and what they want from your brand, you can build a marketing strategy that will drive results. As we’ve already alluded to, most luxury brands have pretty poor websites. Luxury fashion is created by the best designers in the world. 2. A luxury strategy Users of Microsoft’s search engine tend to be more affluent, with 25% of users having an income in the top 25%. Despite this, the majority of brands still market their products by explaining what they do. The company has con… A luxury brand that I came across who do an exceptional job of marketing themselves on Pinterest is 77 Diamonds in London. ... and poor on-site structure), but the results also look messy and untargeted. Their websites are visually stunning, while very easy to use, and highly functional. What will be the first digital channel you use to promote your luxury brand? That’s why luxury products also need to be excellent. 919 720 0995.. Well, apart from telling your brand story, I recommend using long-form content to help consumers find the right product for them. Targeting new, high-intent keywords is also important. Take advantage of visual social networks. Luckily for you, we set aside quite a bit of time to analyze the marketing strategies of … We want to create that works for you business size This makes content marketing campaigns a must for luxury brands. To survive in the increasingly competitive luxury space and attract new customers, luxury brands must understand what the luxury consumer wants from a brand and how digital can help them get there. Here’s how to add negative keywords to your ads. Aston Martin and Versace are both great examples of what luxury brands should be doing with their websites. 93 percent. Some luxury brands had the same knee-jerk reaction: reduce expenses, reign in spending, and reduce expansion. It will include their age, demographic, job, hobbies, salary, and anything else relevant. Global Marketing Strategies  Think globally, act locally is a popular strategy that is becoming more and more relevant in a globalized world where there are no boundaries when it comes to movement of goods and global marketing services. I hope you enjoy reading this blog post. Data show that high-end brands who embrace digital are winning market shares among the affluent Millennials and Generation Z consumers in Asia. What's your yearly revenue? If you’re going to use SEO to increase revenue, for instance, find out how much revenue Google and Bing are responsible for right now. Which marketing strategies can help bring luxury brands into the digital age, and where can premium brands find inspiration from their peers? Focus on one or two to start with, particularly if your luxury brand is new to digital marketing. Monthly Marketing BudgetUnder $750$750 to $1,500$1,500 to $5,000$5,000 to $10,000$10,000 to $25,000$25,000 to $50,000$50,000 to $100,000Above $100,000 Exclusivity can be created online through private member groups, concierge services, or digitally-delivered loyalty perks that are reserved specifically for previous customers. Gucci, Rolex, Ferrari. If you’re still around, you reach a website that’s very difficult and confusing to navigate. Once those customers are in the stores, they’re encouraged to take pictures, share content, watch live streams, and use in-store iPads. We found this with Qosy when we created our guide to the best scotch. Developing a marketing strategy to compete in the ever-changing fashion industry can be quite a challenge. Luxury brands have loyal consumers. Take Prada for instance. The conversation is free, and we can explore if working together makes sense. For luxury brands, the Internet does not represent wider distribution of actual products. This could be a social media platform you want to pay particular attention to; it could be Google; it could even be a custom app. Example: www.neilpatel.com. I've always found the luxury industry to be absolutely fascinating as a copywriter and marketer. A buyer persona is a detailed description of your ideal consumer. But that doesn’t mean popular digital channels are off-limits. Exclusivity & Attention to Details: Don’t Skip your Analytics Homework. Your app could be as simple as a mobile responsive version of your website. Digital channels will be essential for luxury brands going forward. 3 digital marketing strategies for luxury brands. Within 48 hours of publishing the guide, over 4,000 people had shared it – many of whom were using the guide to show off their own scotch knowledge. Luxury Brand Strategy: 5 Things That Really Matter to Luxury Consumers 1. Discover the key trends to build up hype among the much coveted young affluent high-end consumers. Luxury was once hand-made by craftsmen to the customer’s specifications, and was so expensive it was the preserve of only the super-wealthy. Influencer marketing is incredibly cost-effective and, if done well, can put your brand in front of the right kind of consumers. This is important because the more loyal your customers, the less marketing you have to do. Given the Internet’s accessibility and autonomy, many luxury brands worry about losing their sense of exclusivity when it comes to going online. It is a content marketing spectacle that takes viewers into the world of Chanel through distinct chapters. Posted On October 3, 2019 CPP-LUXURY 0 Luxury brand marketing requires special skills. Check out Pam’s new book called Meet the HENRYs: The Millennials that Matter Most For Luxury Brands.To connect with Pam, check out her website.. You can set up a time to chat with me about your marketing challenges using my calendar.Email me jeffslater@themarketingsage.com Call me. Strategies included hiring freezes, reducing the number and the size of the collections, rationalizing media spending, and reducing head-counts: Dolce & Gabana slashed prices. It’s not a luxury product if everyone has one. But you shouldn’t forget about the more technical aspects of SEO, like optimizing category pages. Finally, work out how you’re going to measure your success. The luxury brand is untouched by competition. The kind of consumer that clicks on those ads won’t match your buyer persona. BCG predicts the e-commerce boom will continue in the future both for inspiration and for transactions. Your competition is doing SEO, so don’t get left behind on the search engine results, and start focusing on more digital marketing strategies. While some of this can be explained by altruism, it’s been found that the main driver for liking a charity on Facebook is to show others that you’re charitable. Today, I’m going to show you exactly how to take your luxury brand online with the best luxury marketing strategies. This, however, is flawed logic. Often, exclusivity is achieved by price. Luxury products are synonymous with high price tags. Reading Time: 4 minutes As a luxury or fashion brand you need to take action to stand out in a crowded and competitive market. By focusing on long-form visual content, we’ve generated 10,000’s of social shares, and a huge amount of SEO traffic. 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. The Chanel website is all about storytelling. Or an Instagram ad for Lamborghini? Luxury brands have traditionally relied on reputation and word-of-mouth to spread brand awareness. Now is the time to take your luxury brand digital and invest in SEO, PPC, and whatever social media your consumers use. As I said above, creating new content is critical for luxury brands who want to succeed online. But those strategies won’t cut it in an increasingly digital world. In his book ‘Start With Why’, Simon Sinek explains how great marketing starts by explaining why they exist. In recent research on digital marketing trends on Luxury brands by McKinsey reported that 80% of luxury sales are now influenced by online. But I urge luxury brands to go beyond standard digital marketing tactics and explore more experimental channels. What can we learn from these brands? Louis Vuitton, Gucci, and BMW. Don’t worry; I’m not recommending creating a loyalty program. A ten thousand dollar handbag is well out of reach of the majority of consumers. Your content can continue to add value for customers after purchase. Or $50 to advertise as one of the best luxury compact cars. Luxury brands are built on the premise of offering high symbolic value to a very selective segment of consumers that are more focused on high status association… Thus Hermés customers must have a long buying history before they are offered the opportunity to buy one of the company’s “it” bags.. Luxury brand strategies and insights – short cuts to articles and case studies on luxury, super-premium, ultra-premium and high-end brands Have you ever seen a Facebook ad for Chanel? Luxury brands are starting 2018 afresh by updating their digital luxury marketing strategy. Just make sure to find influencers who already operate in the luxury space and whose audience buys the products they promote. All that’s to say: digital marketing must be a key part of a luxury brand’s strategy going forward. Putting effort into your marketing strategy and thinking of creative ways to increase your sales, providing excellent customer experience at the same time, is a challenge for any brand on the market. What's your phone number? Start by targeting high-conversion keywords. That’s because luxury marketing strategies don’t follow the same rules as mass-market brands. Apps offer brands a way to speak to users directly through their smartphones. Burberry ended its Thomas Burberry collection. When I search for Prada handbags, not only do I not receive a link to Prada’s handbag page (due to their poor keyword targeting, slow site, and poor on-site structure), but the results also look messy and untargeted. Luxury Goods Market Study Revenue from the US luxury goods market is estimated to be between $85 and $100 billion annually, according to Euromonitor . Search engines are massive traffic drivers for luxury brands and play an important role in both the research and purchase phase of the consumer journey. Don’t underestimate the value of good SEO. In the near future, talking about online and offline will be like talking about the benefits of our left leg vs. our right leg. If your site isn’t SEO-friendly, you’re likely to be leaving a lot of potential traffic and revenue on the table. From Supreme collaboration to … Sign up to our newsletter. One way to accomplish this is by working closely with Alibaba, JD/Tencent and Little Red Book… to be present in all of their habitats (marketplaces, brick & mortar footprints, social commerce apps, cross border). The quality has to match the price tag. For instance, we increase the revenue of our luxury jewelry client by 21% through SEO. I believe it's one of the best examples of how proper branding, targeting, and marketing can generate incredible revenue. Keep in mind; you may not have just one buyer persona. Exclusivity is fundamental to luxury brand marketing as it maintains consumer desire through scarcity and rarity. Or they can do both, like Supreme. 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. TOP 5 LUXURY BRAND MARKETING STRATEGIES 1. Many brands consider digital marketing experimental in itself. 4. Take Apple for example. Revenue$0 to $3 million$3 to $10 million$10 million to $50 million$50 million to $100 millionAbove $100 million Rather, you need to turn consumers into fiercely loyal brand advocates. As such, ensure that you're focused on marketing the visual appeal of your product through channels like Instagram, Snapchat, and Pinterest. Use brand heritage to tell the stories behind products. As such, visual social networks like Pinterest represent a huge opportunity for luxury brands to raise brand awareness and advocacy. You want to work with the few who have the audience to back it up. One of the most effective ways we’ve found to generate traffic and engagement for Qosy is create highly visual and aspirational content, such as our guide to kitchen islands. Luxury brands need to fully integrate online, offline, technology, and logistics to deliver the 4 C’s: consumer centricity, convenience, customization and consumer contribution. That could devalue your luxury brand. You're moments away from growing your traffic Such a cross-channel marketing strategy is a great way to reach luxury consumers that require special treatment. Yet, they are consistently undertilized by luxury brands. You’ll also need to make careful use of your negative keyword list. Neil is a New York Times bestselling author and was recognized as a top 100 entrepreneur under the age of 30 by President Obama and a top 100 entrepreneur under the age of 35 by the United Nations. Stay up-to-date with our news & updates. Luxury Marketing Trends. Google is one of the most influential channels when it comes to helping luxury shoppers find products, learn more about brands, and make their purchase. Luxury brand marketing is focused on a small share of the overall population. What’s your name? Generally speaking, luxury brand websites are very stylish, but perform poorly when it comes to user experience and functionality. McKinsey estimates 8% of all luxury sales are made online or around €20 billion.That’s a five-fold increase from 2009. Today’s high-end luxury brands know that there’s only one Paul McCartney, one LeBron James, and one Beyoncé. They sell luxury goods. That’s a five-fold increase from 2009. 10 Marketing Strategies For Luxury Brands That Deliver Results, https://www.ventureharbour.com/luxury-brand-digital-marketing/, Few Interesting Facts and Statistics about the Blockchain Technology, CIO says Digital Transformation Challenges Centered on Data. Performance refers to the delivery of superior experience of a luxury brandat two levels – first, at a product level and, second, at an experiential level. You’ll want to make sure there’s some form of content for every key term, whether that’s a category page, a blog post, or something else entirely. A huge part of luxury marketing revolves around storytelling. Millennials, who are entering their peak earning years, and Gen Z, many of whom are just entering the workforce, have grown up in the digital era and expect brands to have an online presence as high-quality as their products. SEO, PPC, even some social media sites can drive online sales for your luxury brand. As 2016 comes upon us, the new year is a great time to take a fresh look at your PR and marketing plans. While common in many other niches, content marketing is massively underused and enormously effective for luxury brands. Detailed guides on using and caring for luxury products make for excellent blog posts that can increase brand loyalty while attracting even more consumers. Incorporating data about your market potential, as noted in this marketing plan example, is a key part of a luxury marketing strategy. DKNY’s recent addition to the perfume market is DKNY Pure. It seems that every few months Burberry are running a new online brand-awareness campaign, driving luxury shoppers into their stores. New products are continuously launched into the luxury perfume market each year. According to Statista, the global luxury goods market will increase from $285.1 billion in 2020 to $388 billion in 2025.. Supply content that appeals to people’s desire to display their status. 3. You can also partner with influencers on social media channels. But for the sake of your ROI, you’re going to want to target consumers who are ready to purchase. In order to recreate the recommendation strategy, you may want to work with a luxury brand … It’s understandable why luxury brands have been hesitant to move online. What do all of these brands have in common? If you want my team to just do your marketing for you, You're moments away from growing your traffic, We want to create a plan that works within your budget, We want to create that works for you business size, digital marketing in a holiday popup event, 25% of users having an income in the top 25%. With a brand value of $7.2 Billion in 2016, Chanel is one of the World’s most valuable luxury brands. What website should we analyze? One luxury brand who are leading the way in combining the in-store and online experience is Burberry. Take Dom Perignon’s website for example. Luxury brands are on a much higher playing field that consumer brands, and a solid SEO strategy can increase your revenue exponentially. Ditto for timepieces. This is a strategy my team at NP Digital adopted for a prominent jewelry retailer that wanted to increase online sales. There are 25 ways Luxury brands can make some immense profits and generate sales using Digital Marketing Strategies: Take Advantage Of Social Media Networks Using Visual Media: Photographs become one of the best ways to trigger a lot of aspirational emotions in the user’s mind when marketing luxury … The pandemic hit department stores hard and forced luxury consumers to buy online more than before. In 2014, McKinsey published a report suggesting that digital now influences at least 45% of all luxury sales. It doesn’t help that luxury brands tend to have poorly designed (but very good looking) websites and a lack of content for Google to crawl. One option is a brand app. The luxury strategy, invented by the brands that constitute the sector, turns classical marketing rules, as established by FMCG brands to create mass markets, on their head. For the most part, you know luxury brands when you hear them. The CPCs of luxury marketing terms can be expensive, given the competition and the price of products. Although this general principle is universally applicable, luxury brands are substantively different from other brands. For luxury brands, it’s a cardinal sin. Stella McCartney closed its boutique in Moscow just 18 months after opening. Burberry, for instance, has launched an AR shopping tool that lets consumers see Burberry products in their surrounding environment. You can even go one step further and target people by what college they attend, where they work, what their job title is, what music they listen to, and much much more. SEO is an untapped goldmine for luxury brands. Use Facebook Ads to reach luxury shoppers. This is a staggering figure, and clearly highlights the important role digital marketing now plays within a luxury purchase. One of the key components to successful luxury brand strategy is creating desire via exclusivity. Until now, luxury brands have been able to rely on full-page ads in premium magazines, billboards in duty-free stores, and high-end, high budget TV ads. We wrote a comprehensive piece of content about finding the perfect engagement ring that helped traffic from search engines to grow from 20% of all traffic to 30% of all traffic in the first six months of our partnership. For these tactics to work, a brand must be deemed worthy enough to ‘beg for’. 1: Get a Website Women’s Wear Daily reported that more than 1,875 fashion stores closed last year, yet according to Statista , revenue in the fashion segment is expected to increase from £360.7B in 2018 to £534.5B in 2022. Or off-page factors, like building links. Communicating the story behind your products, and explaining the values that define a luxury brand, is fundamental to effective luxury marketing. A luxury brand must perform at a… Generally speaking, this is a bad idea. I'm determined to make a business grow. Here are 10 tips to help you create a successful fashion marketing strategy for clothing businesses and brands. By explaining that your brand represents an assurance of luxury, quality, performance, style, or whatever value you stand by, you will find it easier generating advocacy for your brand online. From SEO to PPC, apps to AR, there are loads of marketing strategies to explore. 4 Strategies for Marketing Luxury Brand Products Featured columnists Executive Education October 12, 2017 October 22, 2019 The marketplace for luxury items has never been more crowded, and the average consumer is increasingly finding that what were previously unattainable luxuries are now much more widely available for consumers. Harrods do an exceptional job with their email marketing campaigns, and are well worth subscribing to for email campaign inspiration. Search engine optimization (SEO) When most consumers want to research their buying options, they start with a search engine like Google. Unless you’re using negative keywords, you aren’t really in control over what terms your brand will appear. Enter buyer personas. Those shopping for luxury goods are looking for attention to detail and a story for how this product will fit into their lifestyle. Chanel has combined offline marketing with digital marketing in a holiday popup event at The Standard in New York. In Jonah Berger’s book, Contagious, he explains that one of the main reasons why people talk about things, and spread word of mouth (online or offline) is to display the traits that they want others to see in them. 6. Let's have an one-on-one conversation At a product level, fundamentally it must satisfy the functional and utilitarian characteristic as well as deliver on its practical physical attributes – a recipe of quality or design excellence ingredients such as craftsmanship, precision, materials, high quality, unique design, extraordinary product capabilities, technology, and innovation. In this post, I want to touch on 10 tips and lessons to help luxury brands use digital marketing effectively. Seeing as the luxury industry has seen continual growth in the past decade, The more detail you can include, the better. This may be increasing brand awareness, but a better and more measurable goal is an increase in sales. If your site isn’t SEO-friendly, you’re likely to be leaving a lot of potential traffic and revenue on the table. Naturally, if you want to reach such a position, you have to you use tactics which are far beyond normal. We believe in thinking differently (why Apple exists). 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