Posted at Apr 26, 2019 10:35:00 AM by thatagency | Share
In some regards, marketing luxury products is not different than marketing other goods. You must know your audience and craft a compelling story that resonates with them to stimulate demand. But unlike everyday brands, you are delivering more than a product. You are selling the fantasy of a lifestyle, and your techniques must reflect this.
Here are five secrets for marketing effectively to luxury clients:
1. Don’t Sell Products
If you’re spending $50,000 on a watch or $40,000 for a pair of diamond drop earrings, it is not a practical decision. It is not a functional decision. It is an emotional one.
Luxury is not about practicality; it’s about perception. People want to buy into the lifestyle; they want to feel as if they are a member of an exclusive, extraordinary, group. You make exceptional products - but what you are selling is the promise, the self-image, and the story behind them.
2. Prioritize Quality over Quantity
Simply raising prices does not a luxury brand make. You are selling the promise of superiority - and you must deliver. When products are viewed as both exceptionally crafted and scarce, they become more sought-after. Anyone can purchase mass-produced goods at department or box stores. You set your business apart by focusing on a smaller range of items with uncommon quality. This creates a sense of urgency: they must own it because there are not many, if any, like it. And this, in turn, justifies a higher price point.
3. Say More with Less
When it comes to marketing luxury products, best practice is to let the product sell itself. Focus on simplicity and utilize highly visual imagery to connect with customers on an emotional - even visceral - level. You’re selling the lifestyle, and there is no better salesperson than your product. Here’s an example from K. Rosengart:
A simple color palette with the industrial juxtaposition against an opulent platinum and rose gold wedding band set are all that are needed for an effective product presentation.
Luxury marketing is simplicity at its finest. Once you capture customers’ attention with stunning imagery and visuals, you can discuss the story behind each product - the materials, the quality, the craftsmanship, the creative process - on your website, in high end marketing materials (like exclusive guides), and in person.
4. Focus on Experiences
Luxury clients expect - demand - more. It is not enough to offer gorgeous products in a purely transactional relationship. You must offer a personalized experience that is catered to this audience. Individualize the browsing and purchase processes; treat them as guests, rather than as mere customers, and they will know you value them. This fosters long-term relationships; they will choose you when they need another gift, another self-gift, or another reason to celebrate!
5. Create a Community
When you tell your brand narrative consistently and convey your values, beliefs, and differentiators, you build a community of clients who engage with you and taut your products to their friends. Influencers also create an enthusiastic audience of their own who dream of the lifestyle that you deliver.
Marketing luxury products is not about the products themselves: it goes beyond that. You are promising a lifestyle, a prestige, an identity. Using the techniques above, you can reach the clients who will help elevate your brand. For strategic guidance and implementation expertise, contact the team at THAT Agency.