Truly high-end products and services are marketed differently than their lower quality alternatives. As a result, certain unwritten rules have developed surrounding the ways in which true luxury is marketed to the public. The following is a breakdown of five unique traits of luxury brand marketing worth taking into consideration:
Ultra-luxury brands like Rolex or Ferrari take very researched and specific approaches to their advertising in order to find their target market. For example, have you ever seen a Rolex ad in the classifieds of the newspaper? Beyond print and television advertising is the digital space, where you can be far more researched and targeted with your approach. A sophisticated digital marketing company can not only build a luxurious looking website, but it can also manage ad campaigns on social media and other platforms to put any luxury brand in front of high-spending consumers around the world.
The price of a product or service is a big sticking point for most consumers, whether you are buying back to school sneakers for the kids or investing in commodities like gold. It’s no surprise pricing is commonly featured in advertising. The only exception tends to be luxury products, which rarely if ever have their prices made easily available. This is because price is considered something those in the market for luxury goods are not overly concerned with from the start. While the price will eventually come into play for buying luxury items, making the price a centerpiece of the marketing only cheapens the brand.
Many brands have a broad approach to celebrity endorsement, wherein the ultimate goal is to find someone famous, likable, and trustworthy. Whether or not the individual speaks to the essence of the brand is a bit of an afterthought, if one at all. The same can’t be said for luxury brand endorsements, which tend to put a greater emphasis on the quality of the endorsement by virtue of the endorser’s achievements. Luxury brands wish to be associated with world-class entities – the best of the best – not just those who managed to become popular.
Many brands have established a unique and fascinating culture for their consumers to appreciate and be a part of. What separates luxury brand culture from the rest is the way in which it invites the consumer into the ownership club. This can most notably be seen with luxury automobiles like area clubs for Ferrari or Bugatti owners only. The same can be said for some other niches like luxury real estate, jewelry, or even fashion. Owning the brand provides exclusivity while using or wearing it, so brands want to bring those passionate consumers together.
The distinction between luxury products and services and more standard versions goes beyond their quality and cost. It includes the ways in which these products and services are marketed. Marketing luxury brands call for following certain rules which were unwritten until now.
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