There are challenges and silver linings in the luxury market. We wanted to share some insights and how we combine classic methods without losing the luxury brand perception:
When you run a luxury brand, you never want to sacrifice your brand image through failed marketing attempts. Mostly, we discuss with our clients to find out correct strategy without losing their brand identity.
Well.. How does it work? It’s a seemingly simple question with an exceedingly complex answer.
We usually focus on company’s revenue stage before creating any strategy. Because there are big difference between start-up, scaled business and enterprise company’s marketing tactic and placements. Let’s talk about startups and growth stage companies today:
Millennials and Generation Z consumers drive 85% of luxury growth
Millennials and Gen Z are driving the majority of luxury sales. These new generations of younger (but certainly not less demanding) affluent consumers will continue to rewrite the rulebook of the once bulletproof luxury industry; with new needs, new behaviors, and digital-infused lifestyles.
As younger consumers become the largest segment of luxury buyers, it is a necessity for luxury brands to understand how to relate to and win over these young generations.
They are digital natives: they continuously engage with online content and are expecting highly sophisticated digital experiences. Think of brands such as Apple that spend millions on user experience and design.
For luxury brands to remain in sync with younger global luxury consumers, they will need to adapt their approach to speaking their language and deliver digital experiences that are superior to what’s already available. We’re still a long way from that (for now).
The end of COVID-19 will most likely rebalance the scale in favor of offline purchases. We expect, however, the pandemic to leave long-lasting consumer shifts with more people willing to buy online, including high-ticket items such as luxury watches, jewelry, and designer furniture.
What does the future hold for the luxury market this year and into 2021? Why is it important to go beyond Social Media and embrace PPC and SEO?
If your company is a start up, you will need to create online PR strategy as well. Integrated marketing strategy is the most important part for luxury brands. If you focus on paid marketing, it will take time to reach your goals.
Source: Search Engine Journal
- Successful website SEO optimization does and will come down to a few basic tenets: effective keyword research, quality content, and some technical on- and off-site optimizations.
- Building Video Content: Video might just be your most powerful storytelling outlet. It helps you convey the emotions and feelings necessary to convince potential consumers that yours is the right brand for them. But it can only do so if your content is authentic.
- Tiktok, Pinterest, Instagram: When you look luxury brands purchase behavior, they are using those platforms.
- Create blog content once a week
The subject is too deep to share everything. If you have any question and learn about luxury brands marketing we will be happy to help.