Luxury purchases account for close to 67 million adults in the US, according to a recent study published by Shullman Research Center. According to Mediaboom, 64 percent of all luxury shoppers are between the ages of 25 to 44. Almost 88% of these sales take place in store, and 78% of such purchases start online, either through social media buzz or online research. But, marketing to the uber affluent luxury consumer requires a delicate balance between consumer insights, product placement, public relations, sophisticated promotions, and creative messaging. Sounds a lot like the four P’s of traditional marketing, but for uber luxury affluent messaging, they can take on new meaning.
To be noticed by this discerning and elusive consumer, luxury marketing goes beyond the assembly of vocabulary and visuals and extends into the orchestration of being seen in the right places and being used, worn, or driven by the right people. Marketing to upscale sophisticates is not about price but rather about the emotion a campaign evokes and the call to action that naturally evolves from it. Any exposure can deliver an impression, but experiential marketing can better captivate consumers and burn a memorable impression in their minds. Leveraging consumers’ seven senses with your brand literally activates their brain chemistry, lifting the endorphins and dopamine to improve the chance a message is remembered longer and with greater accuracy. A luxury consumer responds to a campaign through adoption of the brand position, creating loyalty, and recognition that transcends time.
Luxe marketing is a strategic balance of staying true to its authenticity and exclusivity. To elevate reach and maintain a position above the mainstream and mundane, luxury brands must be creative in their approach and innovative in their creativity. The kiss of death is trying to be something to everyone. Success can be accomplished through the clever art of messaging, understanding the affluent mindset, and being brave enough to not deviate too far from the path of luxury momentum.
Smart marketers in the A-List category step outside their traditional marketing toolbox and open to include non-traditional media, public relations, celebrity marketing, product sampling, and sensory marketing. According to a new Pew Research study, 78% of all Millennials are more inclined to become part of a brand if they have face-to-face interaction with sensory surround (music, action, product sampling), with more than 86% of them sharing their experience through social media. And, since Lexington Law reports that Millennials account for $600 billion in spending power every year, marketers need to recognize the importance of this trend and embed it into their marketing strategy.
But how do you create the same sensory experience from a distance? Some luxe companies are turning to virtual tours or product sampling, live streaming events, and virtual reality. This will change sensory marketing and the luxury game for good. That’s why lifestyle and sensory marketing is a specialty of The Point Group.
Let us help you take your brand to the next level on the luxury tier while staying six feet apart.