Luxury Brand Marketing 101: 6 Strategies to Boost Your Brand Value and Sales online
Luxury brands have a unique challenge when it comes to marketing themselves online. They have to balance the need to reach a wider audience with the need to maintain their exclusivity and prestige. They have to adapt to the changing preferences and behaviours of their customers, who are increasingly influenced by digital channels and platforms. They have to stand out from the competition and create a strong and consistent brand identity across all touchpoints.
How can luxury brands overcome these challenges and succeed in the digital era? In this blog post, we will share six tips and tricks that can help you craft a successful luxury brand marketing strategy. These tips and tricks are based on the best practices and examples of some of the most successful luxury brands in the world. Whether you are a luxury fashion brand, a luxury car brand, or a luxury jewellery brand, you can apply these tips and tricks to your own marketing strategy and achieve better results. Let’s get started!
01. Use visual social networks to showcase your products and lifestyle
Visual social networks like Pinterest and Instagram are ideal platforms for luxury brands to showcase their products and lifestyle. They allow you to create stunning images and videos that evoke the aspirational emotions that consumers associate with luxury. You can also use these networks to engage with your fans, influencers, and potential customers, and drive traffic to your website or online store.
For example, Chanel is one of the most pinned brands on Pinterest, with over 1,244 pins of Chanel products pinned on the social network per day on average. This is impressive considering that Chanel does not even have an official account on Pinterest; it’s all driven by their advocates. According to Statista, Pinterest had 478 million monthly active users worldwide as of the first quarter of 2021, making it a huge opportunity for luxury brands to reach a global audience.
02. Build a website that combines style, user experience, and functionality
Your website is your online flagship store. It should reflect your brand identity, values, and personality. It should also be easy to navigate, fast to load, and secure to use. You want to create a seamless and enjoyable online shopping experience for your customers, while also providing them with relevant information, content, and services.
For example, 77 Diamonds is a luxury jewellery brand that has an exceptional website that is aspirational, educational, and user-friendly. Their website features high-quality images, videos, and stories of their products, as well as helpful guides, tools, and reviews. They also offer free shipping, returns, resizing, and lifetime warranty for their customers. According to SimilarWeb, their website had over 300 thousand visits in November 2021, with an average visit duration of over six minutes.
03. Provide personalized and exceptional customer service
Customer service is a key factor in building loyalty and retention for luxury brands. You should provide personalized and exceptional customer service to your customers before, during, and after their purchase. You should also anticipate their needs, preferences, and feedback. You should make them feel valued, appreciated, and special.
For example, Dom Perignon is a luxury champagne brand that provides personalized and exceptional customer service to its customers. They offer a concierge service that helps customers find the perfect bottle for their occasion, taste, and budget. They also send personalized thank-you notes, gifts, and invitations to their customers. According to Trustpilot, Dom Perignon has a 4.8 out of 5 rating based on over 1,000 reviews from verified buyers.
04. Leverage your brand elements to create value and differentiation
Luxury brands have unique brand elements that set them apart from their competitors. These include heritage, country of origin, craftsmanship, scarcity, and prestigious clients. You should leverage these elements to create value and differentiation for your brand in the market. You should also communicate these elements clearly and consistently across all your marketing channels.
For example, Rolex is a luxury watch brand that has a strong heritage of innovation, quality, and performance. It is also associated with Switzerland, which is known for its excellence in watchmaking. Rolex also has a limited production of its watches, which creates scarcity and exclusivity. Moreover, Rolex has a loyal clientele of celebrities, athletes, and leaders who endorse its brand. According to BrandZ, Rolex was ranked as the most valuable luxury watch brand in the world in 2021, with a brand value of over $8 billion.
05. Create engaging content that educates and entertains your audience
Content marketing is a powerful way to attract, engage, and retain your audience. You can create content that educates and entertains your audience about your brand story, products, values, and lifestyle. You can also use content to showcase your expertise, authority, and thought leadership in your industry.
For example, Gucci is a luxury fashion brand that has a rich content strategy that includes blogs, magazines, podcasts, videos, and social media posts. Their content covers topics such as fashion trends, culture, art, music, and sustainability. They also feature stories of their collaborators, influencers, and customers who share their passion for Gucci. According to Talkwalker, Gucci was the most mentioned luxury fashion brand on social media in 2020, with over 40 million mentions across various platforms.
06. Partner with relevant influencers who share your brand vision
Influencer marketing is a great way to reach new audiences, build trust, and generate word-of-mouth for your brand. You can partner with relevant influencers who share your brand vision, values, and aesthetic. You can also collaborate with them to create authentic and engaging content that showcases your products and lifestyle.
For example, Ferrari is a luxury car brand that partners with influencers who are passionate about cars, speed, and adventure. They work with influencers who have large and loyal followings on platforms like YouTube, Instagram, and TikTok. They also invite influencers to exclusive events, test drives, and tours of their factory. According to Influencer Marketing Hub, Ferrari has over 1,300 influencers on Instagram alone, with a total reach of over 500 million followers.
Luxury brand marketing strategy is not about selling products; it’s about selling experiences, emotions, and values. By following these six tips and tricks, you can create a luxury brand marketing strategy that delivers results and builds a loyal and engaged customer base.
Sources Linked: Chanel, Gucci, Dom Perignon, 77Diamonds, Rolex, Ferrari
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