3 Channels Where Luxury Buyers Expect Marketers to Wow Them
Luxury buyers are a special breed, so their marketing must be, too. Specialized print, websites and influencers they admire all speak to them in ways that, as a new case study on Brand United puts it, display ads can’t do.
While digital display was part of resort community Kukui’ula’s marketing mix, what turned 16 percent of its digital print marketing campaign’s audience into sales prospects for homes was a print channel content marketing effort. For six consecutive issues, Kukui’ula told its story via four-page cover wraps in Travel + Leisure magazine.
The case study finds that even overall consumers engage better with print marketing:
“Among those readers who have seen a print ad, 64 percent say they have been inspired to take action, a level often much better than the engagement inspired by digital ads. And while the cost per thousand views (CPM) for a print ad — given its smaller scale — can be higher than digital, the average return on advertising spend for magazine ads is considerably higher than for digital display.”
Brand United’s case study shows the kind of marketing luxury buyers expect. Simply Written says in July 2018 that they expect personalized marketing via high-end materials. They’ll know if you skimp. And what’s more is Boston-based consulting firm Bain and Company predicts there will be 400 million luxury consumers worldwide by 2020, says The New York Times in 2014. Bain says in June 2018 that in the Americas alone, the luxury market will grow 3 to 5 percent by the end of the year.
Content Marketing Via Magazine Cover Wraps
“Upscale” was definitely the guiding principle for Kukui’ula’s new home-sales initiative. The razor focus was on an elite audience, with messages tailored to the lives these prospects actually live and aspire to have. Luxury buyers tend to respond best to “a physical manifestation of luxury;” for Kukui’ula’s campaign, that manifestation comprised 91 percent of its target audience who regularly read one or more magazines devoted to travel, business and finance. And because print magazines have been found to be the best at reaching affluent consumers in more categories than all other media combined, including Internet and TV, this lined up nicely.
“We wanted the campaign to be awareness-focused, to get people intrigued about continuing to hear our story,” says Kelsey Schneider, media director at agency Greenhaus, which created the campaign on behalf of Kukui’ula. “Our custom research indicated that the ultra-high-income audience still reads magazines.”
Luxury Buyers Like Websites Catering to Their Desires
David Kindervater states on Simply Written that marketers must do the due diligence they would with any consumer in order to reach luxury buyers. Marketers need to know where those consumers are, what marketing they prefer and what engagement efforts make them purchase from you. Agility PR states in April 2018 that luxury buyers love online reviews and brand/shopping websites.
“You need to reach them where they already are. Luxury magazines and websites might be a good place to start, where you can consider placing sponsored posts or paid ads.”
Burberry one-upped that, the Times writes, by letting customers see themselves in its marketing:
[Burberry’s marketing includes] “The Art of the Trench,” a long-running blog that invites people to upload photos of themselves wearing the brand’s signature coat. Last month, Burberry took over the holiday window displays of the Printemps flagship store in Paris and added a playful digital twist: After logging into a dedicated Wi-Fi hotspot, visitors can control some of the windows’ figurines or snap shareable digital ‘postcards’ from cameras embedded in the display.”
Luxury Buyers Have Influencers
“According to Statista, over 70 percent of luxury brands use influencer marketing to reach high-end consumers. Identify the individuals who have influence over potential customers, and get them to use or endorse your product. This will immediately give your brand's image a boost.”
The main influencer who could kill a brand with one post is The Rock, states Digital Third Coast in our July 2018 article. But he also has a softer side: “Dwayne Johnson holds a warm spot in his heart for Ford, Apple and Under Armour.”
But how about luxury brands? Rihanna likes Dior, Lady Gaga is fond of MAC and Leonardo DiCaprio finds that Giorgio Armani appeals.
There may be an influencer out there who can help you find your luxury buyers.
What do you think, marketers?
Please respond in the comments section below.
Related story: 24 Influencers Who Can End a Brand With 1 Post