Now that digital marketing has gone mainstream, luxury brands have started looking for new ways to engage with customers. The luxury industry must adapt or die. Whether we like it or not, print as a marketing medium is no longer influential; and top-tier luxury brands must find a way to preserve engagement without losing their core values.
Print remains in the lead, but not in the world of luxury brands
Print may still be extremely valuable in many sectors. However, people have stopped reading physical letters that get straight to their mail boxes; whether that letter is from D&G or Groupon. Before the advent of technology (about 15 years ago), there was a lot of skepticism surrounding the digital marketing environment. But over the years, increasingly more companies realized that it’s not merely a strategy to convince people to buy. It’s actually an attempt to change mindsets. Rather than focus on return on investment, brands should channel their marketing efforts on return on interaction.
The more interaction you have with prospects and customers, the better chances you have to increase return on investment, too. But engagement should come first. Digital marketing is all about instilling curiosity, and since whatever you have to sell is online, it can make people curious to know because that something can’t be touched yet.
Digital marketing – a valuable data generator
With digital marketing, brands can build better relationships. The interactions we have now through social streams (attained via the digital) have a lot of potential and can be extremely valuable when used properly. One of the key benefits of digital marketing campaigns is that they help gather measurable data. It does not boil down to reaching a specific metric number because it focuses instead on engaging an audience and keeping that audience around for as long as possible with relevant content.
A lot of marketers today make a huge mistake when advertising online: they assume social media is just another advertising platform. It’s not. In fact, a social media channel is a way to begin a conversation. If you put pressure on your audience to buy your product, they’ll step aside and might even leave negative comments.
As opposed to conveniently-priced brands, luxury brands have a different marketing approach online. Since not that many people buy very expensive cars and jewelry from the web, the smartest entrepreneurs have ditched bulk emails. Exclusive brands have a narrow but qualitative audience. Their aim is to make their customers and prospects feel special, meaning that a personalized email or message is much more effective.
Creativity & innovation – the secret recipe to a killer digital marketing campaign
Both creativity and innovation matter a lot when crafting a digital marketing campaign. If you choose to invest in content, you should include all media forms, not just one. For an exclusive brand, creative content is king. It has to be exquisite! If the CIO doesn’t have the right amount of time to devote to creating the best content, you should hire a specialist to do it. It has to be someone responsible, skilled, and ultimately, bold. Famous people love bold!
Mobile – fundamental to marketing luxury products
Mobile is vital to marketing luxury products, however brands shouldn’t just focus on social media campaigns and apps. Retailers are now preoccupied with boosting interaction via a smartphone when customers visit physical stores, too. The tactic is based on the beacon technology, and it involved embedding displays or signs that send information to smartphones in close proximity.
It may look like digital marketing is all about advanced technology. However it works only when companies learn how to interact with their customers. Luxury brands, in particular, shouldn’t focus on spreading the word and appealing to as many people as possible. That’s not the case since the majority of the people are not rich, and can’t afford to buy. Their purpose is to create emotion. Less communication but more qualitative communication is what truly matters.
Bottom line is, brands must adapt and embrace technology. But they have to do it smoothly, and without losing the essence, which is the exclusivity of what they have to offer. Bulk mailing services won’t work because they look intrusive to the wealthy individual concerned about his level of privacy. Incorporating digital technology into a marketing campaign is recommended, but brands must find a way to do it without compromising the fundamental values that make them luxurious.
Author Bio:Peter Smith is a guest blogger who most often writes for http://romax.co.uk/ who provide bulk mailing services in the UK.