Top 5 Trends Digital Marketing Luxury Brands in 2022Apr 11, 2022
Marketing is an ever-changing landscape with challenges that transformed over the ages. Especially for Digital Marketing Luxury Brands. The changing wealth distribution of the population shifted the size and aim of the luxury niche. In this blogpost, I will discuss the 5 top trends to market you product or service effectively.
1. Offer Unique and Tailored Experiences
In the age or personalization and the experience economy, unique and tailored experiences are all the rage. Creating the feeling of a sense of potential loss or missing out can drive the desire to take action. Combining this with personalization causes your target group to identify more with the experience, driving the FOMO even more. Once at the event, the personalization will help the target group to bond with your brand, therefore creating a broad basis for future customer loyalty. If you can create special memories for your audience that will last in the back of the minds of your clients and resurface when they see your brand, you can create long term customer loyalty.
2. Prioritise Value over Quick Profit
When creating an online marketing campaign for a luxury brand, you should aim to reach high-value customers rather than low-value customers who will make a purchase faster. Even though it might be tempting to opt for short term profits to quickly meet targets, it could be a flawed long term strategy. Marketing materials that target lower-value customers might deter high-value customers. If you manage to build customer relations with long term high value clients, you will generate repeat clients that will spend more. Therefore increasing your long term profits.
3. Ensure your Brand appeals to UHNW Audience
Ultra-High-Net-Worth (UHNW) individuals are people with a net worth of over $30 million. This is the second-highest wealth tier group on the planet just behind Billionaires. There are about 300,000 UHNW individuals on the planet, 90% of which are men. These wealthy people are mostly based in Hong Kong, New York City and Tokyo. To turn them into big spenders, the best way to reach them is by hyper-targeting, custom or bespoke audiences and digital entourage targeting. This can be achieved by getting access to closed contact groups of UHNW and partnering with UNHW focused companies.
4. Prioritise quality content over quantity
When it comes to luxury brands it is important to focus on the brand image. As your product reflects luxury and exclusivity, that should be represented in your marketing materials. You will benefit from spending the marketing budget on fewer, high-end commercials or campaigns. If you would focus on quantity to be able to be more frequently present in the mind of your customers by means of exposure theory, you might become too commonplace rather than rare. Focusing on fewer high-end campaigns will also create another dimension of exclusivity. Your high-end customers will be full of anticipation of what you and your brand will come up with next.
5. Develop Stand Out Content that Attracts your Ideal Client
It sounds simple, stand out and don’t be like the rest. That is easier said than done. To be able to be unique in the eyes of your ideal client you have to do your due diligence. Conduct thorough market research on your nice, try to get direct information from your target customer and turn your data into marketing materials that directly target your ideal client. Keep the level of service, quality of product and style of communication in mind when creating the marketing materials so it is in line with the requirements and style of the client.
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