see 6 fundamental characteristics! – WAU
Luxury Marketing brings together a series of strategies and tactics used to add exquisite values to the shopping experience, create competitive differentials for brands and give a unique image to customers.
Get ready to enter a text full of wealth, gala and pure refinement. Let’s talk about luxury marketing!
But rest assured, as we will not over-sophisticated the language for this. The text will be accessible even to those who do not consume the offers in this segment.
That is one type of marketing practiced by high-end brands and aimed at the public with very high purchasing power.
Its focus is on a market that is hardly in crisis and that requires marketing actions and differentiated shopping experiences.
In this post, we will better understand what luxury marketing is all about and highlight 6 traits that characterize this strategy. Check out!
What is luxury marketing
Luxury marketing brings together a series of strategies and tactics used to add exquisite values to the shopping experience, create competitive differentials for brands and give a unique image to customers.
It is a marketing that will not talk about prices, convenience, comparisons or any other more popular value.
On the contrary, its actions are characterized by:
- refined knowledge;
- social status;
- personal appreciation.
Luxury marketing aims to increase the perceived value of a brand and takes advantage of pricing to value the intangible elements of the product or service.
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The characteristics of luxury marketing
To better understand this somewhat sophisticated approach, we selected 6 attributes that make it unique. Follow!
1. Strong connection with the brand identity
Mass or premium brands usually convey their positioning in your products, services and other points of contact with the customer, right?
In the luxury market, the work of branding is more focused on brand identity. After all, identity is what makes something unique and authentic before others.
And this is it singularity that luxury marketing preaches.
Positioning, in turn, is a concept that addresses values that can be shared with other brands, that is, there is no longer that thing of being unique.
Luxury brands cannot be compared with others. They are true to their identities, which are indivisible and non-negotiable.
For example: anyone who purchases a Ferrari is not concerned with the technical characteristics of the vehicle. If so, he would fall under the rule of comparison and would inevitably buy a sports car 10 times cheaper.
The Ferrari customer is after high performance and being associated with a prestigious team. It is the identity of that brand that makes him pay R $ 2 million in a luxury car.
2. Focus on the consumer experience
In the promotion and sale of luxury goods, the experience delivered to the customer must be up to that purchase.
Therefore, the main characteristic of the consumer experience in luxury marketing is the exclusivity.
Exclusivity comes from the fact that brands do not have to please everyone, but rather a very select target audience: consumers who identify with their beliefs.
This is easier to notice, as these brands rarely use mass media to promote themselves and their points of sale are not located on popular trade routes.
But this unique experience can extend at the time of purchase. For example: anyone who wants to be a Hermés customer needs to create an intimate and lasting bond with the brand.
It is necessary to create a connection, a sense of belonging to that circle so that the consumer has the opportunity to purchase one of their bags. Anyway, it’s not just coming and buying.
Another cool example is that of Porsche. Instead of providing a sale similar to what other companies do, which a dealer could remember, the brand innovated in the delivery process.
It has now allowed its customers to take the car directly off the company’s assembly line in Germany. This creates a highly competitive differential, as it delivers a personal and personalized experience for the consumer.
3. Production of less appealing and open content
Who said the content marketing is not present in luxury marketing? The 2 strategies can also be understood very well and generate great results.
If we take the example that we used from Hermés in the previous topic, we can get an idea of how this integration is done.
You saw that the brand values creating a closer relationship with that potential customer and then making it part of your world, right?
This is something that happens with several luxury brands. After all, they don’t want any kind of customer associated with your brand.
So, from that goal of attracting only the right customers, content marketing can be quite useful.
Brands can attract and educate these consumers with content that talks about their history, their identity, their beliefs, their events and, from time to time, to address customers’ problems and needs.
Thus, greater involvement is created with those who really have the potential to purchase products and be part of that universe.
Detail: this more narcissistic footprint is characteristic of the contents of the luxury market because it does not go after customers. The process is reversed: it is the public that wants to rise and be part of that medium.
4. Support in social references of that niche
A common feature of luxury brands is the use of celebrities to star in their campaigns and promote their beliefs and products.
But then you can question and say that even the most popular brands do that. That’s right, but it’s all about how these personalities are used.
It is one thing to use Gisele Bündchen to sell cable TV operators and broadcast her image in commercials on open TV.
Another thing is to use Gisele Bündchen, hypothetically, in a Prada campaign done at a luxury hotel in New York.
The audience and the approach are completely different. In luxury marketing, the idea is not to sell an imitation, but to testify to someone who is a reference for that niche.
5. Creating needs
When we talk about this more narcissistic approach to luxury marketing, you may have been surprised. After all, how can a brand not be guided by customer demands?
In the luxury market, companies, of course, listen to their customers and their needs. However, this factor is not the preponderant when developing content, campaigns and even products.
Luxury brands do not answer problems, they create dreams. Its products and beliefs educate customers’ tastes – and that may explain why this market is so close to the arts market.
Luxury explores novelties, creativity and new territories. Your role is not to reduce risk or discomfort. Anyway, here, are the brands that create the demand.
6. Communication with non-target audiences
In the luxury market, sales must be focused on a public with high purchasing power, but part of their communication can be directed to the masses.
After all, how could we associate brands like Gucci and Dolce & Gabbana with this very exclusive segment?
These brands need to present themselves to the general market as luxury, because there are consumers who are not yet in the target, but you can enter. But how do they do it?
One of the ways most used by these companies is to participate in social networks. As they are extremely popular tools, luxury brands can communicate with the masses by disseminating content, campaigns and events.
This is still a way to approach and raise awareness of the brand with other types of public.
Anyway, we ended this tour of this glamorous world of luxury marketing with some impressions that set it apart from other types of marketing.
The main ones are the valorization of the brand identity, the unique consumer experience, a more self-promotional content and an orientation that imposes a demand instead of responding to one.
Another methodology that is very connected and even present in luxury marketing is experience marketing.
Its strategies are responsible for attracting, enchanting and retaining customers by creating positive feelings, perceptions and emotions in the purchase process.
To learn more, check out the post: “What is experience marketing, after all?”.