Putting the Luxury in Luxury Marketing
If your business revolves around a luxury brand, you are facing challenges far different from those associated with mass branded products.
In a recent article in The Guardian, Francine Espinoza Petersen explains “luxury brands are an entirely different proposition and require a very specific approach to brand management and marketing.”
What differentiates luxury brand marketing:
1. Luxury brands must align with customers based on common beliefs. Unlike mass brands, luxury brands should not strive to please everyone, but only those customers whose beliefs align with their own.
Ferrari believes in high performance. Its legendary successes in Formula 1 events demonstrate this far more convincingly to customers than any ad campaign. Louis Vuitton believes in art and reinforces this belief by collaborating with artists on limited edition products. Both of these companies create a unique experience for those customers who share their belief system.
2. Luxury brands must also offer unique service. Attentive sales people and prompt customer service are a given, but Espinoza Petersen believes that service should involve the customer in a “ritual” that allows customers to experience the brand.
Le Labo hand blends its perfume in front of the customer at the moment of purchase creating a unique buying experience. Rolls Royce invites a select few customers to manufacturing facilities to experience the company’s storied production process in person.
3. Luxury brands must deliver a brand message that is absolutely consistent through products, stores and marketing and must convince the customer that by associating with their brand they gain entrance to a unique and exclusive circle of consumers who share their beliefs.
To read the original article in its entirety please visit The Guardian.