When we talk about luxury brand marketing strategies, we notice that premier brands acquire customer loyalty by using digital marketing techniques like mass brands do. However, they also put a luxury spin on it for optimal results.
It results in up to 40% higher revenue on these brands. In this post, we look at the marketing strategies that can usher luxury brands into a digital environment and how their peers are managing to succeed using similar techniques.
From perfume to private jets and vintage cars, luxury brands need different strategies to market their brands. There is a risk of a strategy backfiring and the luxury product getting devalued if the strategy isn’t implemented correctly.
Luxury Marketing Strategies to Boost High-End Sales
If you look at any luxury brand and how it is being marketed, you will see similarities with the techniques used for mass brands. However, the approach is slightly different, as you will see in these 5 high-end luxury marketing strategies:
The Power of Negative Keywords
You can apply negative keywords in your Google Ads platform to your advantage. You can add them in a comma-separated values (CSV) file and spread the keywords across your account.
Once you have uploaded the file, these search terms will get dis-included from the search engine results. You will not have to pay for these keywords, and it drastically reduces the costs.
Although it will weed out visitors who are not in the least bit interested in buying your product, the real reason will be to weed out unqualified traffic. Using negative keywords has brought in several other benefits from the SEO point of view.
Exclusiveness Through Perks
Luxury brands also need to create their mailing lists the way others do. Keeping email contact details of your customers gives you access to them. If you are taking their email addresses from opt-in data, then they have already expressed interest in your brand.
Being a luxury brand, you can use this channel to communicate with your customers and offer them exclusive rewards and perks in exchange for their brand loyalty. There are several ways that you can implement these incentives.
You can arrange for digital perks in the way of loyalty points once a customer’s spending exceeds a particular amount or buys a specific category of luxury products. Or, you can create exclusive clubs for an elite circle of customers.
You can provide customers advanced access to unique products before their launch or give them invitations to celebrity events. Once your marketing department gets the idea, they are bound to develop some great strategies of their own.
Get Digital Help to Tell Your Story
There is always a certain level of awe concerning a luxury brand, which sets them apart from mass brands. The story usually emanates from the founder of the business and how the brand came into existence.
In the digital age, a luxury brand has even more support to tell their story. You can use powerful videos to bring to life the brand’s power and the legend behind it. If you cannot create compelling videos, platforms like InVideo can help you.
You can share your videos on social media channels. Get high-profile influencers to visit your premises and tell your story in their promotional and glamorous way, which is bound to boost your following digitally.
Digitally engaging your followers can lead to sales conversions in the long run if you have your calls to action (CTAs) in place. A good example is Glenfiddich’s YouTube channel, which offers behind-the-scenes glimpses of their distillery.
Use social media to promote your brand. Posting videos of luxury goods on Instagram and Twitter can have a considerable impact on your online conversions.
Visual platforms like Instagram can be a powerful source for you to share images and videos. You can showcase your affluent brand ambassadors’ lifestyle while using the luxury items of your brand.
A good example is Chanel’s Instagram page. Following Chanel’s model, you can create pages on various social media channels and post ads. For instance, you can use Facebook ad templates to create attractive ads on Facebook.
We tend to consider Bing as a failed search engine. It hardly exists anymore, and no one uses it. But you may be surprised that very wealthy people use Bing. Recently a survey revealed that up to 30% of Bing users’ annual income is at least $100,000.
Considering that Bing is cheaper than Google, you’ve got to consider investing in Bing for promoting your brand. It is something missed by many luxury brands. Advertising on Bing is far cheaper than Google.
Here are a few hard facts about Bing. It has recorded 160 million unique searchers. Every month, 5 billion searches are done. Bing has an estimated 118 million people, and you most likely won’t reach them on Google.
Although Bing Ads may not be as cheap as Facebook Ads, they are less expensive than Google Ads. You are getting an additional 118 million eyeballs and high-profile eyeballs at that, who will look at your luxury goods with interest in the long run.
Touch Base with Your Best Customers
Adding a personal touch to your sales process is the key to acceptable business practices. It is even more critical while driving high-end sales. There are ways and means of charming customers who have bought and will continue to buy your products.
To personally cater to some of your best customers, you need to use internal analytics to track down customers’ spending habits. Once you identify your best customers, give them preferential treatment, and make them feel special.
For instance, if you are running a limited exclusive, ensure that you keep your priority customers informed. Let them know that they are special without telling them directly. Before you know it, they will start bringing family and friends to your store.
You Need Multilayered Strategies to Drive High-End Sales
As we have seen here, these 5 points are critical to creating luxury marketing strategies. You need to address the issue on different levels. Dealing with high-profile customers is not much different than dealing with those of mass brands.
However, there are some special considerations. These 5 luxury marketing strategies will help any luxury brand to boost sales exponentially.