Digital Marketing For Luxury Brands – Is Your Strategy Working?
Sophistication, opulence, timeless: these words are the cornerstones of luxury brands. But how, in fact, does a brand remain timeless in the digital age?
It evolves its marketing strategy to meet the changing emotional and physical landscape of its consumers, and it uses modern technology to conquer new platforms and expand brand narrative along the way.
According to McKinsey, 40% of all luxury goods purchase decisions are influenced by what consumers see and hear online. That means, in an industry with more than $280 billion in sales last year, online-influenced purchases accounted for more than $100 billion in revenue.
Top brands like Burberry, Tiffany, and Louis Vuitton are all tapping into expanding markets, including ecommerce and social media shoppers, and they’re using compelling digital media strategies to do it. Here, we take a look at some of the most important factors to ensure that your high-end brand’s marketing strategy is going to thrive in the digital landscape.