Online Marketing For Luxury Brands. Did you know...66% of affluent internet users gather information online before making a purchase?

Luxury brands have thrived in the past ten years and purchasing a luxury item has often been considered as an investment.

Subsequently, high-end manufacturers take great pride in every phase of the product development process, from design to production. Still, as time has progressed, elite brands must recognise that exclusivity isn’t what it once was. Extravagant goods, or very worthy substitutes, are available widely and with varying price points. Researchers are predicting 2016 will be another tough year for the premium industry and are calling for luxury brands to embrace digital marketing and improve their communications strategy if they are to stay at the top of the ladder.

Affordable Luxury

Luxury brands have always distinguished themselves with their superior quality, but middle-class brands and retailers are now experimenting with new products in an attempt to encourage aspirational middle-class shoppers. Of course, the idea that deluxe brands cannot compete with mass brands is irrational; it’s just a case of reaching that target audience. Luxury is a state of mind, not a brand or price point. Wealthy customers will prefer to spend their money where they receive the utmost profit on the investment as measured by improvements in their superiority of life, or on goods that promise to hold their worth in the long run.

Quality over quantity

Premium brands need to consider their product offerings in terms of the meaningful and measurable improvements they deliver to those living an affluent, luxury lifestyle. They have to bring the meaning to the customer, which, today in 2016, is measured by the quality of lifestyle experiences they offer. No matter what the market, digital is at the centre of the decision-making process.  To successfully entice a wealthier audience, the winning brands will need to address all factors of marketing through developing truly bespoke content, high-quality imagery and aspirational story telling that taps into primitive impulses and desires, converting connotations into a sale.

Why adopt an online strategy?

66% of affluent internet users gather information online before making a purchase.

Social shopping

Social media monitoring has found that luxury brands Tweet and post to Facebook less than two times on each platform every day compared to most beverage and food businesses, who have been seen to post roughly 27 times on an average day.

Prestigious brands have been reluctant to adapt to the popularity of social media; this may be to do with the culture of high-end brands. There’s a massive focus on quality, heritage, and a certain level of exclusivity that the brands want to keep private for exclusive customers. However, social media is no longer a merely a passing consideration; brands need to extend their experience online to continue their success.

During peak sociable audience times, usually between 9 pm and 11 pm, luxury brands are often nowhere to be seen, missing out on key interactions to build relationships with their potential customers. Wealthier audiences have fully embraced online resources for communication and e-commerce; luxurious brands would be foolish not to do the same.

Uploading relevant content keeps a brand in the public eye. Affluent audiences will be browsing the internet for the latest must-have products, so blogging about key trends will set you aside from the rest. Marketing for high-value brands can be slightly different to mainstream brands. The middle-class market are a completely different audience, usually running competitions, or advertising deals. Creating contests or offering deals on social media will open the door to bargain hunters, who don’t necessarily shop in the higher end market. It degrades the luxury companies unique positioning and takes away the exclusivity of their brand. The luxury market really needs to consider the difference in each audience and what works best for both. Although their goals have not changed, the most efficient way of achieving them has, dramatically. Creating and monitoring social media campaigns to reach and target a particular audience and using in-depth digital audience research will see luxury brands increase their audience range and sales profits throughout the next few years.

Marketing for high-value brands can be slightly different to mainstream brands. The middle-class market are a completely different audience, usually running competitions, or advertising deals. Creating contests or offering deals on social media will open the door to bargain hunters, who don’t necessarily shop in the higher end market. It degrades the luxury companies unique positioning and takes away the exclusivity of their brand. The luxury market really needs to consider the difference in each audience and what works best for both.

Although their goals have not changed, the most efficient way of achieving them has, dramatically. Creating and monitoring social media campaigns to reach and target a particular audience and using in-depth digital audience research will see luxury brands increase their audience range and sales profits throughout the next few years.

To find out more about content strategy and how it can help your luxury brand please get in touch on 01256 614 921 or email hello@thetypefacegroup.co.uk.

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