Luxury marketing, an exclusive performance
When we think of “the best that money can buy”, our minds are automatically transported to the luxury imaginary. Luxury dates back to the times of the crown and the aristocracy and has since dictated a separation of status and societies that, while it has many supporters, also has many detractors because of the obvious aspect of social inequality and waste.
Luxury is a state of great comfort and extravagant living, which is very difficult for the vast majority of people to afford, as acquiring it exceeds normal means and its demand increases proportionally with increasing income.
Marketing for luxury brands – Luxury marketing
Luxury brands have different attributes and values than conventional ones, therefore the following are considered specific and vital aspects for when developing luxury brands marketing:
1.They are completely timeless: They define their own trend and are unlikely to go out of fashion. In fact, their value increases over the years and being vintage is a quality that takes the product to another level.
2. Unique and unrepeatable: Luxury brands do not compete one with each other, they are defined as unique, which makes them incomparable.
3.The sense of aesthetics is impeccable: All elements of the brand experience take special care of the details; from the quality of service and the exclusivity of the portfolios to the online interaction and the product packaging are taken care of in great detail.
4. They keep the emotional sense above the rational one. It’s about how aspirational the brand is and the connection it makes with the emotion. Rationality is not considered because it is not necessary to think about spending when you consider buying a luxury good.
A luxury brand conveys the emotion of its products or services through performance. Every detail counts and a special language must be dispensed with in order to tell its story, transmit its values, its attributes, but the most important thing is to offer it as a highly exclusive good.
- Exclusivity at all costs: This is inherent to the brand, luxury items can´t be easily obtained. Many designers and car manufacturers, produce a single model or a few that are highly demanded and there is no other series like it. Luxury brands are in some ways alienated from their customers, as the key is to create craving and inaccessibility around their products. Scarcity is one of the main luxury factors.
In the creation of luxury marketing strategies, the customer must be kept more than satisfied, and it is important to incorporate (customer-brand) relationships that last over time so that the brand is constantly remembered. A clear example of these strategies is to guarantee a lifetime service for buyers of certain brands such as Rolls Royce.
The appropriate channels for luxury marketing
The most appropriate digital channels to transmit luxury content are social media, but not all of them. Content is a mean of engagement with current and potential customers and is basically the voice of the luxury brand, so we must also be selective.
Instagram fully satisfies the expectations of digital communication and strategy for this type of brands. The platform allows a high-quality presentation exposing interaction through videos, images and highly aspirational collaborations.
The second channel is Pinterest, which stands out for being a network with a larger female audience and in which boards can be assembled with very good aesthetics that highlight the attributes of the product. This network has no limitations on the format of the images that are published, which allows a wide diversity of content.
Finally, having an aspirational and impeccable design website is also a “MUST” for luxury marketing. Brands share images of their detailed manufacturing processes and of famous people wearing their clothes and displaying their collaborations, and clearly in none of them you will find an online shopping cart because being accessible is of no interest to anyone.