What makes a brand luxury?
Your idea of luxury and someone else’s idea of luxury may be wildly different.
That’s because the definition of luxury is becoming harder to define. Many high-end brands have lost their appeal. For many consumers, especially younger ones, the appeal of luxury brands has faded.
If a luxury brand wants to find its way back into the public’s consciousness, it needs to change its marketing strategy.
One way of doing that is with experiential marketing, which allows a brand to highlight luxury values such as craftsmanship and innovation.
Why should your luxury brand consider experiential marketing campaigns? Here’s why.
Experiential Marketing and Luxury Brands
Experiential marketing (also known as event or engagement marketing) is all about the interactions between the customer and the brand. This happens via a live or in-person event. An experiential event is interactive, fun, and exciting.
While the interactive often happens offline, it can be paired with a digital element. One example is a branded hashtag, which can help build awareness and group conversations around a specific topic.
This kind of marketing can let your team’s creativity shine, as they create unique and memorable experiences. It can also be a great way to capitalize on audience trends.
Experiential Marketing Ideas
What kind of experiences can high-end brands offer via experiential marketing?
One idea is having a dedicated pop-up shop, especially for a new product. High-end pop-up shops may not be common, but they are a great way to connect with consumers in person. Yes, an event like this requires some dedicated staffing, but if done correctly, it can be a retail experience unlike any other.
Visitors to your shop can experience a white glove treatment. They can see and experience your products for themselves. You can give them the “luxe” treatment, and show them the value of your brand in-person.
Immersive experiences are also very popular, as evidenced by The Stranger Things experience. This marketing strategy recreates iconic locations from the hugely popular Netflix series, allowing visitors to experience the lifestyle of the series’ characters for themselves.
For many event marketing productions, it helps to partner with someone who has previous experience producing such events or who can connect you with experts. Look for a partner with a strategy to help you succeed.
Grow Your Luxury Brand
Using experiential marketing can drive traffic to your stores, create long-term brand advocates, and change the perception of your brand.
However, sometimes you need additional resources to create a memorable event or reach new markets. That is where Auctus can help.
Auctus Capital Partners is an independent investment company, comprised of experienced investment managers. Auctus looks for companies with strong potential, actively supporting them and their growth. Auctus has completed over 400 investments since our inception in 2001.
For more information on Auctus, our investment solutions, and how we can help your luxury brand, contact us.