Barbara Jarabik discussing about luxury brands advertising changes after pandemic: What Are Luxury Brands? A luxury brand is a label or trademark associated with high-end, expensive products. Luxury goods and services are often perceived as exclusive, and they command a premium price point. Although the definition of luxury varies from person to person, luxury brands are generally associated with a certain lifestyle or set of values. For example, a luxury car might be seen as a status symbol, while a luxury watch might be seen as a sign of success. After all, their customers expect nothing but the best, and they’re not afraid to spend money to get it. So what’s the key to a successful luxury marketing strategy? We’ll take a look at some of the most important factors here.
If Ferrari’s sold for $15,000, they wouldn’t appear very luxurious. Everyone would have them which would negatively affect the exclusivity as I spoke about earlier and it would make them appear less special. Don’t get me wrong. I love supercars and I’m sure a Ferrari is worth every penny it’s sold for, but I don’t doubt it’s marked up to hundreds of thousands of dollars on purpose. The price positions it as top-of-the-line and miraculous. This is why one of the smartest strategies luxury brands can use to increase revenue is simply increasing how much they sell products for. Imagine that you received 1,000 orders every month at an average value of $300.
Facebook Ads are one of the most effective forms of online advertising, thanks to the high level of segmentation and targeting that you can do. You could, for example, target ads specifically to married 35 year old males from Paris who like the brands Prada, Gucci, and Versace. You can even go one step further and target people by what college they attend, where they work, what their job title is, what music they listen to, and much much more.
You’ve written ads to catch the eyes of affluent searchers. You’ve negated keyword modifiers that imply discounted pricing. Now let’s dive into income-based geo targeting. This is another truly phenomenal way to cut wasted spend and ensure the ads you’re paying for end up in front of the right people. How do you make that happen? Simple. According to Google, income-based location targeting is “based on publicly available data from the US Internal Revenue Service (IRS), advertisers are able to target ads to certain areas according to their average household income.” When you created a customer profile, detailing your ideal consumer, average household income was probably something you considered. It’s part of how you determine what you sell and how you sell it. Now you can leverage IRS data to help you to discover and advertise to these fine folks. And the best part? You can layer income-based targeting with your other location targeting for maximal effect. This means you don’t have to wholly exclude areas that fall outside of those designated as having higher household incomes; you can create separate campaigns (ensuring your budget is skewed towards geos in which the likelihood of your ideal prospects living there is greater) or just use bid adjustments.
With a solid system for managing your marketing plan and allocation of budget and focus, we can now dive into some of the specific channels and experiments you might want to test. When marketing luxury products, photographs are one of the best mediums for evoking the aspirational emotions that we connect with driving a luxury vehicle, wearing designer clothing, or experiencing something exclusive. As such, visual social networks like Pinterest represent a huge opportunity for luxury brands to raise brand awareness and advocacy. Discover even more details on http://barbarajarabik.com/.
Digital signage mirrors are another way for luxury brands to advertise efficiently : The world digital signage mirrors market was estimated at USD 780 million in 2021. The world market is expected to grow steady at a CAGR of 12.21% to hit USD 910 million by 2023. Digital signage mirrors can vastly increase individual efficiency by choosing outfits as per weather updates while also offering bus and train schedules (including traffic updates). Digital signage mirrors in smart homes, planes, commercial spaces, hotels, etc. are designed to be connected to users as well as with different devices around. Energy efficiency is one of the major advantages that will drive the adoption of digital signage mirrors.
