10 marketing strategies for luxury brands that deliver results

Start using digital marketing for your luxury brand with these three effective strategies: 1. We found this with Qosy when we created our guide to the best scotch. Their Pinterest profile is aspirational, educational, and strikes a great balance between not being too promotional, yet still raising awareness of 77 Diamond’s products. Gucci, Rolex, Ferrari. Despite what you might think, online sales of personal luxury goods are growing, too. 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. of all online experiences begin with a search engine. DKNY’s recent addition to the perfume market is DKNY Pure. Now you understand who your customers are and what they want from your brand, you can build a marketing strategy that will drive results. Supply content that appeals to people’s desire to display their status. In order to recreate the recommendation strategy, you may want to work with a luxury brand … Start by targeting high-conversion keywords. We want to create a plan that works within your budget 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. The Wall Street Journal calls him a top influencer on the web, Forbes says he is one of the top 10 marketers, and Entrepreneur Magazine says he created one of the 100 most brilliant companies. Yet, with print and display advertising returns decreasing, and luxury shoppers spending more time online and on mobile devices, luxury brands need to not only adapt to survive in the digital universe, but to thrive also. Enter buyer personas. But for the sake of your ROI, you’re going to want to target consumers who are ready to purchase. As such, ensure that you're focused on marketing the visual appeal of your product through channels like Instagram, Snapchat, and Pinterest. Well, apart from telling your brand story, I recommend using long-form content to help consumers find the right product for them. 10 Marketing Strategies For Luxury Brands That Deliver Results. Take Dom Perignon’s website for example. 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. Exclusivity can be accomplished in several ways such as developing limited edition products, making select products only available at certain stores, or developing a waiting list for a newly released item. What's your phone number? Here’s how to add negative keywords to your ads. Today, I’m going to show you exactly how to take your luxury brand online with the best luxury marketing strategies. Me neither. It will include their age, demographic, job, hobbies, salary, and anything else relevant. Finally, luxury products have to be exclusive. Your app could be as simple as a mobile responsive version of your website. Luckily for you, we set aside quite a bit of time to analyze the marketing strategies of … A ten thousand dollar handbag is well out of reach of the majority of consumers. 7. 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. Users of Microsoft’s search engine tend to be more affluent, with 25% of users having an income in the top 25%. Finally, work out how you’re going to measure your success. As 2016 comes upon us, the new year is a great time to take a fresh look at your PR and marketing plans. For the most part, you know luxury brands when you hear them. The Chanel website is all about storytelling. In the near future, talking about online and offline will be like talking about the benefits of our left leg vs. our right leg. Luxury products are synonymous with high price tags. They sell luxury goods. Given the Internet’s accessibility and autonomy, many luxury brands worry about losing their sense of exclusivity when it comes to going online. 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. Building an effective content marketing strategy for a luxury retail brand is not always easy. This is a strategy my team at NP Digital adopted for a prominent jewelry retailer that wanted to increase online sales. The company has con… Search engine optimization (SEO) When most consumers want to research their buying options, they start with a search engine like Google. The last thing you want is for ads for your luxury brand to start showing up in searches containing “discount,” “sale,” or “free.”. Luxury marketing can no longer be confined to TV channels, billboards, and glossy magazines. Charities, for example, are one of the most liked categorises of pages on Facebook. Facebook Ads are one of the most effective forms of online advertising, thanks to the high level of segmentation and targeting that you can do. Here’s the thing, luxury marketing isn’t synonymous with digital marketing…yet. That’s because luxury marketing strategies don’t follow the same rules as mass-market brands. Generally speaking, this is a bad idea. Buying guides put your brand front and center for consideration while providing value and establishing a relationship even before the purchase has been made. I've always found the luxury industry to be absolutely fascinating as a copywriter and marketer. What can we learn from these brands? Sign up to our newsletter. I believe it's one of the best examples of how proper branding, targeting, and marketing can generate incredible revenue. Today’s high-end luxury brands know that there’s only one Paul McCartney, one LeBron James, and one Beyoncé. 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. 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. But what does it take for a brand to qualify as a luxury? All that’s to say: digital marketing must be a key part of a luxury brand’s strategy going forward. 3 Marketing Strategies for Luxury Brands That Deliver Results. You're moments away from growing your traffic The CPCs of luxury marketing terms can be expensive, given the competition and the price of products. If you don’t already have Google Analytics tracking in place, now’s the time to set it up. We just happen to make great computers (What Apple do).”. Or you could take things even further by integrating augmented reality features. Your content can continue to add value for customers after purchase. Sure, attracting consumers in the research phase of their journey is important. Let's have an one-on-one conversation But those strategies won’t cut it in an increasingly digital world. Influencer marketing is incredibly cost-effective and, if done well, can put your brand in front of the right kind of consumers. Or $50 to advertise as one of the best luxury compact cars. I'm determined to make a business grow. How can we get in touch with you? 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. Some luxury brands had the same knee-jerk reaction: reduce expenses, reign in spending, and reduce expansion. Innovation and adaptation to an evolving customer base have allowed the top 10 luxury brands to continue their dominance in the market. Take Apple for example. If you want to see a return on your investment, focusing on high-intent keywords is essential. That’s a five-fold increase from 2009. This is a staggering figure, and clearly highlights the important role digital marketing now plays within a luxury purchase. As such, visual social networks like Pinterest represent a huge opportunity for luxury brands to raise brand awareness and advocacy. 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). 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 What's your marketing budget? Because marketing to Millennials requires luxury brands to adapt their strategy, we look at the top 4 pillars that drive Millennials purchase behaviour. Luxury Marketing Trends. Exclusivity can be created online through private member groups, concierge services, or digitally-delivered loyalty perks that are reserved specifically for previous customers. 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. 10 Marketing Strategies For Luxury Brands That Deliver Results By Marcus Taylor August 12th, 2020 3 Comments Disclosure: We sometimes use affiliate links which means we may earn a commission if you buy something through our links. I hope you enjoy reading this blog post. My only question is, will it be yours? Targeting new, high-intent keywords is also important. With a brand value of $7.2 Billion in 2016, Chanel is one of the World’s most valuable luxury brands. Don’t worry; I’m not recommending creating a loyalty program. Revenue$0 to $3 million$3 to $10 million$10 million to $50 million$50 million to $100 millionAbove $100 million Use the keywords you’ve discovered above to guide your content creation process. If your site isn’t SEO-friendly, you’re likely to be leaving a lot of potential traffic and revenue on the table. From SEO to PPC, apps to AR, there are loads of marketing strategies to explore. McKinsey estimates 8% of all luxury sales are made online or around €20 billion. 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. Whether it’s the history of your brand or the craftsmanship of your products, you probably have a lot to say. Hence we present you with 10 tips and tactics of marketing a luxury brand. As I said above, creating new content is critical for luxury brands who want to succeed online. The quality has to match the price tag. A huge part of luxury marketing revolves around storytelling. A buyer persona is a detailed description of your ideal consumer. Luxury brands can increase revenue by as much as 40 percent by using these strategies, but putting their luxury spin on each, for the most effective results. One way to do that is through the quality of your products. 3 digital marketing strategies for luxury brands. BCG predicts the e-commerce boom will continue in the future both for inspiration and for transactions. Luxury brands are on a much higher playing field that consumer brands, and a solid SEO strategy can increase your revenue exponentially. But brands can also achieve exclusivity by selling a limited number of products. You could, for example, target ads specifically to married 35 year old males from Paris who like the brands Prada, Gucci, and Versace. Incorporating data about your market potential, as noted in this marketing plan example, is a key part of a luxury marketing strategy. Luxury Brand Strategy: 5 Things That Really Matter to Luxury Consumers 1. Chanel has combined offline marketing with digital marketing in a holiday popup event at The Standard in New York. Unsurprisingly, most of those websites also have extremely bad SEO, making it difficult for their websites to rank well in Google for search terms that would otherwise capture potential customers. What should you write about exactly? Whether you’re running an SEO campaign or a PPC campaign (or both), I recommend developing a highly targeted luxury marketing keyword strategy. What do all of these brands have in common? Many brands consider digital marketing experimental in itself. But I urge luxury brands to go beyond standard digital marketing tactics and explore more experimental channels. 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