Many retail brands have become very savvy with digital marketing tools to retain existing clients and capture new customers. In recent years, many luxury brands, led by a few such as Burberry, have started their digital marketing journeys as well.
Based on a blog/report SAP Business Innovation published, there are a few strategies luxury brands could leverage for their digital marketing efforts.
1. Boosting the signal. most brands have been increasing spending on their digital marketing strategies. As information starts to overflow for customers, it is important to continue bringing out smarter and more innovative ways to market digitally.
2. From signal to signifier. Different from other retail brands, luxury brands attract customers in different ways. Luxury fashion brands could be signifiers of ideas, life styles and experiences that transcend the products they represent. Therefore, when designing digital marketing strategies, each luxury brand should think about what their brand stands for - whether craftsmanship, or life style, or exclusivity - and try reflecting these attributes in their strategies. Specifically, SAP recommends that luxury fashion brands take the following three key actions:
a) Offer exclusivity. The sense of private/exclusive services and products really attract luxury fashion shoppers. Brands can leverage digital marketing and create such environment for their clientele.
b) Personalize. Burberry is one great example. The brand started offering personalized trench coats a few years back, and this year they also started offering monogram personalization services for their color block ponchos.
c) Cultivate advocates. Social media could be used to engage clients and make them become the brands' advocates. Advocates could also include influencers such as bloggers and celebrities. Tiffany had a "true love" campaign that encouraged all clients to share photos of love. This was a great way to attract customers and get free publicity and advocacy from them.
Source: SAP
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