If you want to realise the true value of your luxury brand, it's time to embrace high net worth marketing.
In the words of Coco Chanel: “People think luxury is the opposite of poverty. It is actually the opposite of vulgarity." With this in mind, take a few minutes to think about your buying experience.
Are you providing customers with a sublime service? Do people love their experience and show loyalty to your brand? If a friend asked for recommendations, would you get a glowing review every time? Done right, high net worth marketing can nurture customer loyalty and produce passionate brand advocates.
Consider the many touchpoints between a consumer and your brand. These can be any interaction, ranging from a website visit or a blog post view, to engagement with a marketing email or sales call.
Each touchpoint allows an individual to learn a little more about you. Consumer engagement, loyalty and advocacy is therefore a reflection of how your brand communicates each and every step of the buyer's journey.
So how can high net worth marketing improve the customer experience and make your brand more lovable? It's all about making people feel special. Personalised marketing, actionable content, thoughtful sales aftercare and random acts of kindness can exude lovability and keep your customers coming back.
In short, going above and beyond really can make all the difference.
Inbound marketing can take time to work. We use biddable media to speed up the process, adapting high net worth campaigns to meet client needs and budgets.
We work with high net worth clients to pinpoint exactly who their target personas are. Using structures like MBTI, we can then deliver content that really resonates.
It's not often you find a high net worth marketing agency in the UK that can help you develop your site on the HubSpot CMS. We're one of those select few.
We believe in content - it can have a massive impact on your bottom line. But this can include so much more than blogging. Video, animation, interactive, we use it all.
High net worth brands rely on a polished image. For this reason, everything we do is tested, improved and tested again. This is how we, and our clients, grow.
Visual online platforms such as Instagram are invaluable to any business hoping to engage with the social media ecosystem. This virtual showroom provides brands with a global reach and constant presence, and more consumers than ever are making it their first port of call when it comes to discovering new products and exploring the marketplace.
The purpose of a showroom is to display works without distractions, allowing viewers to engage and experience. High net worth marketing should emulate this experience across all platforms, creating a seamless effect that highlights, reveres and celebrates offerings.
In social terms, we speak in two metrics - reach and depth. Reach refers to the number of people who see a post, and depth is the degree to which people engage with a post. The main purpose of organic social should always be to increase the depth of engagement, ensuring brand followers are continuously interacting with social content.
We helped one luxury brand to create an Instagram and grow their followers organically from 0 to 60k. No influencers, no paid activity, just great content delivered effectively to an engaged high net worth audience. It took hard work and careful thinking, but paid off both in terms of direct revenue and broader metrics such as brand reputation.
Nobody needs a Rolex to tell the time (especially now we have phones for that!) Why carry a Louis Vuitton clutch rather than a Tesco carrier bag?
High net worth marketing is different from other sectors in the sense that it often doesn't cater to practical consumer needs. Luxury products or services are not essential to an individual's existence, but instead appeal to their personal tastes, social status or desire for exclusivity.
Your luxury brand does not need to be admired by all. Quite the opposite in fact, high net worth marketing is all about identifying and approaching niche audiences, and associating your offering with their personal identity.
Unlike the fast moving consumer goods (FMCG) sector, luxury products are also often a considered purchase, entailing a lengthy buyer's journey. Though quality and social status are seen as major buying motivations for the luxury consumer, experience has also become a vital purchase factor. It's crucial that your business can stand out in the market and compete for the attention of discerning high-end consumers.
Most people know what a Ferrari is and what one looks like. However, not everyone can afford the hefty price tag that comes with such a purchase.
Exclusivity is fundamental to high net worth marketing, with scarcity and rarity contributing as significant factors within consumer desire. If anyone could walk into Louis Vuitton and buy a handbag, Louis Vuitton would lose its luxury appeal.
Some luxury brands therefore worry about losing their sense of exclusivity when it comes to going online. This, however, is flawed logic. Digital presence doesn't represent the distribution of actual products - only the distribution of content that evokes the desire to buy luxury products.
Effective high net worth marketing increases a brand's visibility, engagement and scope, not its exclusivity. By creating a luxury customer-centric experience for customers and patrons alike, businesses can engage with audiences and spread their knowledge without diluting their reputation.