10 Marketing Strategies For Luxury Brands That Deliver Results
In 2014, McKinsey published a report suggesting that digital now influences at least 45% of all luxury sales.
It’s understandable why luxury brands have been hesitant to move online. Yet, with print and display advertising returns decreasing, and luxury shoppers spending more time online and on mobile devices, luxury brands need to not only adapt to survive in the digital universe, but to thrive also.
Having created our own luxury online platform (Qosy) at Venture Harbour, which has led to helping luxury brands such as Johnnie Walker, McLaren, and Marriott with their digital presence, I’ve learnt a lot over the past twelve months around the do’s and don’ts of luxury online marketing.
In this post, I want to touch on 10 tips and lessons to help luxury brands use digital marketing effectively.
1. Take advantage of visual social networks
When marketing luxury products, photographs are one of the best mediums for evoking the aspirational emotions that we connect with driving a luxury vehicle, wearing designer clothing, or experiencing something exclusive.
As such, visual social networks like Pinterest represent a huge opportunity for luxury brands to raise brand awareness and advocacy.
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).
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