Luxury brands are founded on exclusivity, rarity, and quality. To effectively advertise a luxury brand, you need to keep these values top-of-mind, crafting messages and visuals that appeal to your target consumers’ desire for craftmanship, sophistication, and status.
Here are 5 luxury brand marketing strategies you can leverage:
Alex Colley, the founder of ikon and a luxury consultant, has worked with leading global brands like Porsche and Cartier to improve their brand image and attract more customers. Contact Alex today for a free brand discovery call.
The key to succeeding in luxury marketing is to focus on creating an emotional connection with your target consumers. And what better way to do that than to use social media influencers who are trusted by their followers and can generate word-of-mouth marketing for your brand?
Influencer marketing is one of the most efficient and cost-effective ways to reach out to affluent customers, and for a good reason. It allows you to tap into the social circles of high-net-worth individuals and position your brand as a desirable status symbol. It also allows you to generate earned media and create influential brand ambassadors.
When working with social media influencers, it’s important to select those who align with your brand values and have a genuine interest in your products or services. Remember that influencers with a large following are not necessarily more effective than those with a smaller, more engaged audience. Micro-influencers (those with between 1,000 and 100,000 followers) tend to be more effective in luxury marketing campaigns because their followers see them as more relatable and trustworthy.
Rolex is a great example of a luxury brand that has successfully used influencer marketing to reach its target audience. The Swiss watchmaker has previously partnered with Gavin Linde, a Rolex Collector and a massive fan of the brand, to create photo and video content showcasing its timepieces' beauty and craftsmanship. Gavin only has about 125,000 Instagram followers, but his genuine passion for Rolex and attention to detail make him an ideal ambassador for the brand.
When done right, influencer and social media marketing can help you increase brand awareness, build brand equity, and drive online luxury sales. So if you’re looking to reach high-net-worth individuals, include it in your digital marketing strategies.
Luxury brands are often defined by their opulence and exclusivity, two qualities that can be difficult to communicate through marketing. But one way to do it is by creating aspirational content highlighting your brand’s unique position in the market.
Aspirational content evokes desire and inspires people to pursue a certain lifestyle. It gives consumers a glimpse into the exclusive world they could be a part of if they purchase your products, allowing you to communicate your brand's value effectively.
Consider, for example, Louis Vuitton. The French fashion house is well known for its beautiful, aspirational advertising campaigns, which feature high-end fashion and lifestyle products set against stunning backdrops. These ads increase brand recognition and make people want to be associated with the Louis Vuitton lifestyle – precisely what the brand wants.
Another luxury brand that does this exceptionally well is Bentley. The British automaker’s Instagram account is filled with beautiful photos and videos that showcase the luxurious lifestyle that its customers can enjoy. From pictures of Bentley cars driving through scenic mountain roads to videos of customers enjoying a night out on the town, the content is designed to fuel people’s desire for luxury and inspire them to aspire to a certain lifestyle.
Experiential marketing is a form of marketing that focuses on creating unique, memorable experiences for consumers. It’s an effective way to personally connect with potential customers and give them a taste of what your brand offers.
For most luxury brands, experiential marketing can take the following forms:
• Organizing a private event for VIP customers and influencers
• Creating a pop-up shop or experience in a high-end mall or location
• Partnering with another luxury brand to co-host an event or activation
• Offering exclusive experiences, such as behind-the-scenes tours or private meet-and-greets with designers or celebrities
• Playing on trends that resonate with luxury consumers, such as sustainability or wellness
• Using AR and VR technology to give consumers a unique, immersive experience of your luxury goods
Louis Vuitton, for instance, is one of the many luxury brands that have taken advantage of this marketing strategy. In 2020, Louis Vuitton partnered with Riot Games’ League of Legends World Championship. The partnership included designing in-game outfits and a trophy carrying case, giving fans of the game a taste of the high-end fashion that Louis Vuitton has to offer.
To the casual eye, the pairing might seem odd. After all, video games and high-end fashion are two very different worlds. But Louis Vuitton had a clear goal in mind: to dip their toes into the billion-dollar world of esports, reach new audiences, and shift consumer perception. And by aligning their brand with one of the biggest events in the gaming calendar, they succeeded on all three fronts.
Of course, experiential marketing activations don’t need to be quite so over-the-top. They can also take the form of more intimate events or gatherings, such as private dinners or parties.
In the luxury space, personalization is key to driving sales.
Luxury consumers are used to receiving a high level of service, so they expect brands to be able to cater to their individual needs. This is why personalisation is such a critical luxury marketing strategy for high-end brands.
Personalisation allows you to build customer relationships and show them that you understand their unique needs. It also helps foster brand loyalty, as customers are more likely to continue doing business with a brand they feel connected to.
One way to personalise the customer experience is by offering made-to-order products. This is something that luxury brands have been doing for years, and it’s a great way to show customers that you’re willing to go the extra mile to meet their needs. A made-to-order product is a unique product that is created specifically for a customer based on their individual specifications.
Another way to personalise your marketing is to segment your audience and create targeted content for each group. For example, if you’re selling luxury watches, you might segment your audience by gender, age, or lifestyle. This way, you can ensure that each group receives content that is relevant to them.
Lastly, you can use data collected from your customers to personalise the customer experience. This could include using customer purchase history to make recommendations or using location data to provide personalised offers.
Branding is probably the most important aspect of marketing a luxury brand. After all, your brand is what sets you apart from the competition and defines how consumers perceive your business. It is the foundation upon which all your marketing efforts will be built and should, therefore, be carefully considered.
Recommended reading: 6 Of The Best Luxury Branding Examples To Inspire You
Your brand identity should be unique and reflective of the luxury positioning that you’re aiming for. It should be timeless, classic, and elegant. And most importantly, it should be reflected in everything you do, from your marketing channels and advertising to the way you design your products.
A few things to keep in mind when crafting your brand identity and strategy include:
• Your target audience: who are you trying to reach?
• Your brand values: what do you stand for?
• Your brand message: what is the story you want to tell?
• Your visual identity: what does your brand look like?
• Your tone of voice: how do you want to communicate with your consumers?
Tiffany & Co. and Rolls-Royce are great examples of luxury businesses that have managed to create a strong, cohesive brand identity across all touchpoints. Rolls-Royce, for instance, is known for its understated luxury and elegance. Their logo, a simple pair of intertwined R’s, is elegant and classic. And their print ads are always minimalistic, featuring a close-up of the car with very little text.
Tiffany & Co., on the other hand, has built its brand around the idea of love and romance. Its branding is thus softer and more feminine, relying heavily on the baby blue color that has become synonymous with the brand. And it's messaging tends to be emotional and focuses on the sentimental value of its jewelry and luxury products.
You can clearly tell – just by looking at these brands’ logos, visual identities, and advertising – what each brand represents. Your brand needs to be just as easily recognizable if you want to be successful in the luxury market.
That said, ikon is a luxury branding and creative agency that can help you communicate your brand value, positioning, and message across all touchpoints. We have extensive experience working with luxury businesses and can help you craft a strong, cohesive brand identity that will resonate with your target customers. We understand the nuances of luxury branding, having worked with some of the world's most iconic brands such as F1, Cartier, and Porsche.
Schedule a free discovery call today if you’re interested in learning more about how we can help you with your luxury branding.