One of the key focus for luxury brands is customer satisfaction. Luxury brands focus on providing amazing in-store customer service to boost sales. Predictions say, by 2025, about 40% of the luxury brand products will be represented by these two succeeding alpha groups. For comparison, they already bargained a huge share of 30% luxury goods in 2016. They claim social media, intense reality, and advanced technologies are their thing. Even though 92% millennials purchased directly by mail and 82% of them still trusts printed mail postcards more than digital advertising.
These changes upgrade luxury brand marketing and become a competition in the market. These expensive brands should also focus on improving the online marketing experience to match with the outlet experience. Despite switching to the online websites, these upscale customers still want the warm cooperation. About 64% of the customers prefer in-store service experience through all the online purchases. In fact 33% of the customers are willing to spend more money online for better cooperative communication. Gathering a wide range of marketing mediums will help a brand build a powerful strategy. These strategies should be included in a marketing message to attract customers.
AR, digital marketing, Inbound marketing and mail campaigns are a great combination to inspire a luxury brand to have a dominant marketing. This cross-channel strategy can lead the brands to the customers with an exclusive requirement.
Luxury Brand Strategy: 5 Priorities Of Luxury Consumers
1. Exclusivity And Details:
Skipping Analytics Homework could be a mistake. Luxury brands target a mini group of potential customers. Affording a Rolls-Royce or an expensive dress from Louis Vuitton isn’t everyone’s cup of tea. However, the affording customers contribute a lot to the luxury brand’s success.
Collecting necessary data based on potential customers’ tastes is important before launching the marketing strategies. It’s more than just name and contact information. You need to study their demands and preferences. It’ll work like a tracker of which products the potential millennials are eyeing for. These details are gonna set a profile for your luxury affording customer.
You need to highlight the product’s quality and the reason these stand out to promote them better.
Luxury consumers fancy the exclusivity of the product’s limited availability.Don’t forget to hand them the reason for your product’s crowd puller.
2. Let the affluents gnaw on your success story
People love a brand with a story. Top brands like Prada, Hermès, Bugatti, Rolex, were established years ago and have had their fair share of problems. After struggling for years and improving their quality and service, they finally hit the success bar. Be more revealing about your story and let them connect their own success to yours. Having a strong motto message that customers can relate to, helps a lot with the marketing strategy. Using the message in online platforms, social media, and direct mail postcards will be a marketing booster.
3. Sufficient assistance
87% of the customers nowadays rely on online mediums to look for products. Checking the product’s availability online is preferable to them before going to an outlet. The priority of online advantages is here to stay due to the modernistic trends and the millennial’s financial clout. So luxury brand marketing should use just enough online tools and continuously upgrade customer experience for betterments. Follow these steps to build a better luxury brand marketing strategy:
- Website With Easy Navigation
It’s believed that all luxury brands are supposed to have a website, but that’s not quite true. A lot of brands prefer putting their in-store service up before websites. They consider their brand reputation to be good enough to cover up for the website. This is a great opportunity to compete against these luxury brands. Keep your website relevant to the service or product, sophisticated, and catchy. Make sure to keep your products exclusive, self-evident, and consistency must pop up through your website. All the sections should have simple navigation and be easy to access any product. Having SEO would be convenient as well. Even you can buy website traffic from a good source. It’s a good way to reach more online customers and showing up first in the list of search results will give the customer a reason to purchase from your website. Engaging landing pages are essential to all sorts of businesses entering the luxury brand marketing area.
- Appealing Social Media Approach
Create verified pages on social media with attracting traffic and spend a generous amount in Quality SMM marketing. Online contents manipulate about 40% people to make luxury purchases. Such e-commerce can introduce a new trend and even hold the power to boost sales substantially. Leveraging few social media is enough. Choose the ones with the most users. A study says, 63% of the Americans use Facebook, 73% of them use YouTube, although 71% of the young adults prefer using Instagram and 78% of them find Snapchat more interesting.
After having reputed social media accounts and a top-notch website, keep putting out content on a daily basis. All the content in social media should be detailed and finely put. The followers will get all the updates and important information through the content. Consumers should get excellent and skilful customer service anytime, anywhere.
4. Send Direct Mails
Direct mail is your trump card to raise digital marketing. The household response rate of direct mail is 5.1% or more, which is clearly more than 0.4% social media and 0.6% email response rates leaving more room for you to be noticed. Studies show that comparatively educated people with better income receive direct mails 4 times more than others. These people still find direct mails useful and informative.
Luxury brand marketing needs something more elegant than just plain direct mails, postcards or leaflets. High-quality material, remarkable patterns, and a reprint of a famous exquisite art-work relevant to your brand’s products, or a sweet thank you note personally written by the designer upon buying a haute couture dress, will nudge their emotions than just conveying a message. Direct mails must be tailor-made and fully customized depending on each person’s profile. Use high tech features to reach the appropriate customization standard. Inkit’s tool supports changeable information printing and provides customized postcard producers to generate uncommon direct mails. The CRM helps you to send the appropriate direct mail at the right time.
You’ll find some proven direct mail marketing preferences here:
- Customized Catalogs
Tiffany sends catalogs to their customer with every purchase. Sending different catalog to each customer can really step up the game. A group of massive earning people are the main contributors of the luxury brand market. So, any creative approach has a good chance to be successful. Track the products your current/regular customers pinned or purchased and present a similar collection to them. Your clients will admire the sense of details and thoughts.
- Event invitations
Direct mails are the best way to invite members-only for closed events. Invest in a good direct mail company to get a posh designer invitation. Combination of brand colours, balanced white space, and add an appropriate logo which would work as a marketing strategy booster.
- Appreciation Notes
Send a pleasant thank you card with every delivery. It’s a low cost shot with a great way to increase luxury brand marketing. These notes create a trusty relationship with the customers.
5. Use The Latest Tech Novelties
Besides social media and websites, there are other useful mediums to gather information from. Top brands like Burberry or Farfetch have launched their applications with an advanced machine learning and AR functionality. LVMH introduced a virtual advisor in 2017 to help the US customers with common inquiries and maintenance recommendations.
Investing in modern technologies would be a good choice to take the marketing to a whole new level. AR facilities will improve both physical store and online service for customers. Utilize softwares to visualize and to check product quality. It’s going to provide a flawless service and accelerate the buying process. This will help get a better grasp of the customer’s requirements to improve the efforts for better luxury brand marketing in the long run.