At the heart of every luxury brand is a story of prestige and quality and even, for many brands, history. It’s what that influences people to purchase or aspire to purchase the goods. And, it—not just your product du jour—should also influence your marketing.
Luxury marketing needs a strong branded component that touches on these three tenets:
01 Quality & Prestige
In the luxury market, price alone doesn’t bring you prestige. The prestige of the brand comes from the quality of the product. And, there’s something more. The experience of the brand. The brand and product visuals, the product functionality, the way the brand is woven into people’s lives and into our culture. It’s about the lifestyle and ideals the brand represents.
02 History & Relevance
A brand going back decades or even centuries, as some luxury brands do, naturally has a rich story to tell, possibly of the company’s founder. People with purchasing power seek to align themselves with these captivating characters, but they aren’t necessarily looking for a relic from the past. Luxury marketing has to position the brand as relevant to today’s market and lives.
If everyone has it, it’s no longer a luxury. Hence, exclusivity is one of the most important aspects of a luxury brand—or at least the perception of exclusivity. Products that are only available at a branded store, for example, have a built-in exclusivity. Customers sense it just walking in the store—even the most distinguished department stores don’t carry these items.
The importance of brand in luxury marketing can’t be overstated. Think quality and prestige so you distinguish the brand and justify the price. Think history and relevance in order to position the brand as alluring and fresh. And, finally, think exclusivity to appeal to people’s desire for status.
By weaving these three tenets of luxury brands into your marketing approach, you’ll have a more compelling story and experience to share with your customers.
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