Barbara Jarabik talking about luxury brands advertising solutions after Covid-19 pandemic: Focus on quality, not quantity. It’s better to have a small number of high-quality leads than a large number of low-quality ones. When luxury brands mass market, they risk diluting their message and appeal. Create a Unique Selling Proposition. The best way to give your brand a competitive advantage is to create a unique selling proposition (USP). This is a statement that explains what makes your brand a unique product and why customers should buy from you instead of your competitors. Your USP should be based on your brand’s unique strengths and how those strengths can benefit the customer. For example, you could focus on luxury, quality, or customer service. Make sure that your USP is memorable and easy to understand.
Use influencers to make products go viral: Did you know that 39% of brands plan to increase their budget for influencer marketing? You should, too. Influencer marketing is one of the most cost-effective advertising strategies you can invest in. You can pay a social media influencer or another brand with a large loyal audience to promote your product. This can easily have a much better ROI and cost-effectiveness than PPC or many other approaches to marketing a luxury business. The key is to find influencers who share similar values and target audiences. Otherwise, you will be advertising to the wrong group of people and won’t see much results from your campaign.
For luxury brands, the Internet does not represent wider distribution of actual products. It’s a wider distribution of the content that evokes the desire to buy luxury products. Translated to the offline world, effective digital marketing is like running more advertisements on buses, or more TV ads, or having more stores in Central London. Exclusivity can be created online through private member groups, concierge services, or digitally-delivered loyalty perks that are reserved specifically for previous customers.
You’ve written ads to catch the eyes of affluent searchers. You’ve negated keyword modifiers that imply discounted pricing. Now let’s dive into income-based geo targeting. This is another truly phenomenal way to cut wasted spend and ensure the ads you’re paying for end up in front of the right people. How do you make that happen? Simple. According to Google, income-based location targeting is “based on publicly available data from the US Internal Revenue Service (IRS), advertisers are able to target ads to certain areas according to their average household income.” When you created a customer profile, detailing your ideal consumer, average household income was probably something you considered. It’s part of how you determine what you sell and how you sell it. Now you can leverage IRS data to help you to discover and advertise to these fine folks. And the best part? You can layer income-based targeting with your other location targeting for maximal effect. This means you don’t have to wholly exclude areas that fall outside of those designated as having higher household incomes; you can create separate campaigns (ensuring your budget is skewed towards geos in which the likelihood of your ideal prospects living there is greater) or just use bid adjustments.
In fact, Chanel are one of the most ‘pinned’ brands on the social network, with over 1,244 pins of Chanel products pinned on the social network per day on average. This is made even more impressive when you consider that Chanel do not even have an account on Pinterest (it’s all driven by their advocates). A luxury brand that I came across who do an exceptional job of marketing themselves on Pinterest is 77 Diamonds in London. Their Pinterest profile is aspirational, educational, and strikes a great balance between not being too promotional, yet still raising awareness of 77 Diamond’s products. Read additional details on Barbara Jarabik.
Digital signage mirrors are another way for luxury brands to advertise efficiently : The entire digital signage mirrors market was estimated at USD 780 million in 2021. The global market is expected to grow at a CAGR of 12.21% to hit USD 910 million by 2023. Digital signage mirrors can vastly increase individual efficiency by choosing outfits as per weather updates while also offering bus and train schedules (including traffic updates). Digital signage mirrors in smart homes, planes, commercial spaces, hotels, etc. are designed to be connected to users as well as with different devices around. Energy efficiency is one of the major advantages that will drive the adoption of digital signage mirrors.