All I Really Need to Know I Learned Marketing Luxury
by Kassie Kemp on 08/24/2009 at 12:59 pm in Brand Ownership, Online Strategies, Within Range
Luxury brands really do have it all. They have prestige, glamour, and style. They’re every girl’s dream, right?
In the world of online, luxury brands often get a reputation as late adopters. Here goes the stereotype: They were cautious to launch ecommerce websites. Then, they were cautious to market them and let everyone know the site exists. However, with every stereotype, there are exceptions.
What intrigues me most about luxury brands is how brands have longevity at such an elite status. Most brands have been around for several decades if not longer. They have evolved with changes in media and survived tough economic times. All of this tells me that they must be doing something right.
How these brands approach their brand equity and image is applicable on many levels….which brings me to my personal variation on Robert Fulghum’s All I Really Need to Know I Learned in Kindergarten:
All I Really Need to Know I Learned Marketing Luxury:
- Be True to Yourself. Luxury marketers are the best at staying true to their brand. They are very cautious in their marketing strategy to ensure brand image.
- Respect Your Friends. Luxury buyers are loyal. As brands are expanding into new channels, they are very conscientious of their customer base. They respect their friends (read: customers) by developing “insider” groups and lists to keep the most loyal “in the know.”
- It’s About Who You Know. We’ve all heard this one before, and it’s no different with prestigious brands that revel when a celebrity name-drops their brand. They take the buzz and make it work for them in their marketing strategies.
- “Don’t Be Evil” says Google. Luxury brands fight evil everyday by policing their brands to maintain their quality online through trademark infringements and gray marketers.
- Enjoy Quality, Not Quantity. Marketing strategies for prestigious brands involve quality placements for quality products.
- Balance Is Key. Luxury brands continue to implement strategy that includes a cross- channel, diverse media mix. They understand the need to reach consumers at all steps of the buying process.
