In the July/August issue of the AMA’s Marketing Management magazine there is an interesting article, “Wooing Luxury Customers,” by Suzanne Hader (Principal, 400twin). Suzanne covers a lot of great points such as what is luxury, what defines wealth, and what shapes luxury habits and how luxury brand customers look for a rich, emotional experience and great service rather than being ‘sold’ to.Not being a luxury brand marketer, I went on the hunt for other articles about luxury brand marketing and came across a few older items such as an article in Chief Marketer, a keynote on Luxury Branding Marketing and a scholarly article.
In reading all of these pieces, the one thing I consistently noticed is that the luxury brand marketing advice, for the most part, focuses on traditional marketing and branding—talking to the customer and creating an experience for the customer.
- The BMW Forum
(Members: 183,864, Threads: 978,328, Posts: 13,296,986)
- The Fashion Spot
(Members: 66,746, Threads: 45,987, Posts: 4,529,436)
- The Mercedes Forum
(Members: 33,931 , Posts: 105,042, Topics: 31,073)
- The Purse Forum
(Members: 128,573, Threads: 299,826, Posts: 7,153,120)
- The Rolex Forum
(Members: 14,970, Threads: 44,550, Posts: 685,615)
- influential and persuasive
- passionate and loyal
- purchasers that range from extremely wealthy to average income
- brand experts that help to educate non-experts
- developing on-line friendships that lead to off-line meetings
- vocal about price, features and quality
- discussing off-line sales/service experiences and are relaying them on-line
If I were a luxury brand manager, the first thing I would do is tap into these forums and “listen” to what customers and potential customers are saying about my brand. The second thing I would do is determine who the loyal and influential brand experts are and engage them in meaningful conversation on- and off-line. The third thing I would do is implement their feedback. And finally, I would offer brand experts preliminary showings of all new product offerings and enlist them in word of mouth marketing via the forums or their blogs to create buzz prior to the products being released.