ESSENTIAL FUTURE MARKETING TIPS FOR LUXURY BRANDS
Luxury brand marketing must tap every aspect of modern communication methods. From print to digital to social.
But the essence of all good marketing is the brand narrative. As human beings, we are immensely susceptible to the power of stories. Stories are the single most powerful influence on our actions.
The stories we believe and identify with, direct the largest part of our behaviour. Any psychologist will confirm this. Get the narrative right and you connect deeply with your audience.
The most successful brands win hearts and minds.
Luxury brands have to work smarter than ever to benefit from the increase in communication channels, keeping up with trends, building strong identities and maintaining close contact with clients through multiple platforms.
There have never been so many different contact points between brands and their clients. All of these need to be employed to reach a wider audience, with constant monitoring to measure the most effective at any given time. Not so long ago a brand would not change its marketing direction for a decade. Heritage often meant maintaining a single campaign for years.
Now with so many upheavals in the world, brands must follow and understand client perceptions in real-time.
Every pillar of a luxury brand should be solid and consistent with the ethos and value of the brand. A luxury audience identifies with brands that reflect them, which is core to long term success.
We list the methods and pillars that are now essential for marketing and PR in a post-Covid digital world.
The brand narrative is all-important in luxury marketing and PR. Get the brand story right for your target audience. Be relevant and adapt content swiftly.
An essential part of the narrative. Listen to your audience and learn from them, find out what they care about and adopt their concerns as your own. Take the best and worst of their responses to improve your products, services and communication.
Quality brands look to the future and directly address the fears of their audience, who demand a better attitude towards the planet and its resources. A vital aspect of any luxury brand's future planning.
Young consumers expect diversity from a brand and its ambassadors. Marketing and promotion will need to reflect this as people identify a brand by its values. A luxury brand must visibly recognise the diversity of its audience and include this in its narrative.
Retaining an air of exclusivity whilst promoting inclusivity is a balancing act. Brands must show sincerity and treat everyone equally. Exclusive does not mean excluding, it simply means that the brand is special, not every day, whilst appealing to all. A luxury treat.
Reuse and Refashion
Many new companies in the last few years have started offering to refashion, repair and rent luxury products that were once considered lifetime items. This is both ecologically sound as well as financially savvy. It gives luxury access to a wider audience and brings in new fans.
Luxury has always been about the bespoke or personalised. Technology has made it easier to personalise products and experiences at a lower cost. Brands who offer that extra level of service will stand out and conquer.
More e-commerce sites, apps and platforms will either link directly to products or offer in-app purchases directly, including through gaming platforms, which are already collaborating with luxury brands. Gaming audiences are huge and offer immersive experiences that engender extremely loyal followers. New Social Retail shops are opening up that offer exclusive products to buyers, as well as interactive social media purchases.
Heritage is an important part of the narrative and should reflect the company’s ability to predict future trends and stay abreast, building trust in its ability to stay the course and indeed maintain quality and trust for generations to come. But heritage alone is no longer enough, brands must also mature with the times.
Trying on clothes, watches, even yachts and cars, virtually will become commonplace. Try before you buy, in the comfort of your own home. Bespoke fitting through technology is set to become a very effective way of selling and reducing costly returns.
To stay relevant and present themselves to a wider audience, luxury brands are partnering up with artists, influencers, DJ's as well as other luxury brands and innovators. A very cost-effective way of reaching passionate, new fans.
The last frontier. So much packaging is wasteful and creates huge environmental problems. Modern luxury brands can make their mark by offering luxury boxing that does not destroy the planet. An area that is ripe for creative brands to distinguish themselves.
The luxury environment of the brand needs to be constantly updated to meet and exceed UHNW expectations, whether it is physical stores or digital representations, including the digital footprint that is now the basis of client trust and wider presentation of the brand online.
Sentiment analysis automatically gathers information on audience and client perception of the brand. Companies are able to swiftly respond to any negative events and capitalise on positive feedback. Immensely useful for measuring brand value over large and small amounts of data in many different formats.
Luxury has always been about unique experiences and sensations, the “money can’t buy” VIP events and status enhancers. Ensuring that these continue safely is paramount. Luxury buyers still want hands-on, direct interaction, but it must be seen to be super safe. Brands must visibly place customer safety before anything else. Covid preparations should be cast iron and evident to customers, ensuring they are free to enjoy the luxury without even a hint of stress.
Like all disasters when they occur, the lockdown pushed people to be more creative and consider how they could improve what they were doing. Burberry got this absolutely right with their fashion campaign using Burberry staff wearing the latest collection, photographed outside their own homes. Burberry normally spend huge sums on models and celebrity photographers, so this was an extremely cost-effective and successful promotion.