Luxury marketing has gone through significant changes over the past couple of decades. The power balance is shifting from luxury companies to luxury consumers, who are now at the centre of marketing strategies. The new challenges in global markets have ignited a growing interest by companies and brands in content marketing and in the metrics to measure its impact in the luxury industry.
In luxury brand management, most companies have come to realize that experiences represent a deciding factor. One obstacle luxury brands were faced with is that designing customer experiences mainly originates from mass brands. Luxury brands have an entirely different value proposition and require a specific approach to brand management and marketing. Here are tips luxury brands need to consider in order to design and market a true luxury customer experience.
Luxury brands should advocate beliefs to their consumers rather than relying on brand values. Beliefs are generally more specific and define more strictly the luxury brand. Unlike mass commercial brands, luxury brands should not aim to appeal to everyone, but only those consumers whose beliefs align with their own.
Beyond the Logo
Luxury brands should have a set of images associated with them, rather than a single logo. Use brand symbols, monograms, patterns and images, so consumers have a comprehensive, but distinct brand image perception.
Create a Customer Experience Ritual
Luxury brands can extend their customer experience with unique services and rituals. This can start with something simple like highly trained sales assistants and exquisite customer service. However it should go beyond that to create a luxurious consumption process that allows customers to experience the brand.
Luxury Brand Stores
Luxury companies must be extremely considerate of the way they sell and interact at the point of sale. While before, it was enough for luxury brands to use brick and mortar stores to sell their products, now they must exceed expectations by designing multifunctional, controlled spaces that create a luxury brand experience. Luxury types of stores function almost like a temple for avid consumers.
Mass brands constantly have to compete with other brands and adopt the strategy of highlighting their advantages over their competitors. Luxury brands, on the other hand, attach their brand value to unique specifics that establish a myth around the brand. This brand and lifestyle uniqueness has to be reflected in communications with consumers. For example, Rolls Royce invites a select few of their customers to manufacturing facilities to see and experience the company’s production process in person.