Today, luxury brand management is about experience. Without offering your client specific experiences, your brand will fail to impress its specific niche market. Luxury brands therefore need to take a very specific approach when it comes to successfully marketing and branding themselves.
If you are a luxury brand trying to appeal to a specific niche market, read on for our top tips on how to market yourself as a truly luxurious brand:
Advocate beliefs
Many luxury brands take a specific focus on advocating beliefs instead of simply relying on brand values. This is because they want to appeal to a refined, niche target market instead of a mass audience.
For instance, Ferrari has a strong belief in high performance and focuses heavily on Formula 1 events to market itself in locations that mirror its focus on high performance. Likewise, Louis Vuitton has a belief in art and recently collaborated with Japanese artist Yayoi Kusama to create a limited edition line of Japanese-inspired products. To contrast, mass brands tend to focus their attentions on a number of areas in order to reach out to as wide a market as possible.
Create a Temple for your Clients
As previously mentioned, luxury brand management is all about experience. As such, luxury brands now pay a close attention to the entire shopping experience, ensuring that the client is fully immersed in the brand from start to finish.
For instance, BMW World in Munich is far more than just a showroom. It offers clients an immersive experience where they can fully experience the brand in a temple-like setting, rather than simply buying the product. BMW also offers a BMW On Demand service, where potential clients can book a driving experience with the model of the choice for up to 6 hours.
Involve the Client in the Buying Process
Many luxury brands deeply immerse the client in the buying process. For instance, Porsche has introduced an innovative delivery experience whereby the customer can collect their new purchase directly from the assembly line in Germany. Perfume brand, Le Labo, custom makes its perfumes in front of the customer, labelling and dating the bottle and truly creating a personal shopping experience.
Be more than a Logo
When you think of a luxury brand the chances are that you think of an entire set of visual icons, rather than a simple logo. These can include a range of colours, patterns, symbols, images and concepts. For instance, many people might associate Chanel with pearls, Audrey Hepburn, the number 5 and even a little black dress.
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