Luxury Marketing Strategies
When it comes to marketing luxury products and services, there are certain “anti-laws” that should be considered. These so called anti-laws go against conventional marketing wisdom, and require a unique approach to attract and retain high-end clients. In this article, we’ll explore a few anti-laws of luxury marketing.
Luxury is not comparative, forget about ‘positioning’
When it comes to luxury, being unique is what counts. Luxury brands do not compare themselves with a competitor.
Luxury is the expression of a taste. Luxury items are aloof – they have a unique identity (“this is what I am”). Luxury brands have an indifference to comparison (“this is how I compare to others” is regarded as vulgar). In essence they lead with integrity.
Contrast this with mass market brands which messaging focuses on comparison to others. Mass market brands seek to establish a unique selling proposition, and communicate a competitive advantage associated with their brand, products, or services. Mass market brands attempt to offer a unique selling proposition by positioning its brand against others: (it is the most popular, it is the fastest, it is made locally, etc.).
Seek a small clientele
Mass marketing brands focus on the number of customers they have, and pay less attention to the quality of customers. Luxury brands strive for the exact opposite: less customers but the highest quality.
Luxury brands do not attempt to satisfy the common customer. Luxury brands prefer to keep individuals that are not qualified to own the brand at a distance.
Protect clients from non-clients
Luxury brands work on the open–close principle. Too much ‘open’ is harmful to the brand’s social function.