I was recently asked by Marketing Magazine Australia to write about the new codes of luxury marketing. Here’s my viewpoint on how luxury brands need to think about engaging the neo luxury consumer.
How do you be exclusive, sell the dream, retain the magic and mystique, craft the message in an area of transparency, open access and democratic sharing? These are the fundamental issues facing luxury marketers today.
The next generation of younger multi-channel luxury consumers are rising in influence, seeking demonstrations of discernment rather than badges of bling. Luxury is no longer about outward displays of wealth, it’s a state of mind, with self-fulfillment trumping traditional status symbols. Here are my emerging codes of luxury marketing worth thinking about:
- Provocation over poise
Whilst superlative storytelling has always been the bread and butter to create desire for luxury goods, brands now need to look to new more provocative brand archetype to cut through and engage. Jaguar’s latest ‘Villains’ #GoodToBeBad campaign has successfully positioned Jaguar as an alternative Anti Hero in a stuffy luxury car world.
- Timely beats timeless
Luxury brands need to think about how they are offering cultural value in real time. Thomas Pink in the UK recently launched their ’90 minute service delivery in London’ to fix dressing woes.
- Making exclusive inclusive
More than ever, people want to help craft the narrative of a luxury brand. Brands need to think about hey they involve people in interactive stories at all stages of the product and marketing process. Burberry’s famous Art of the Trench project and Mont Blanc’s Beauty of a Second are best practice here.
- Living is more than owning
The era of Experiential Luxury means status and social currency is derived through engaging in unique and rare experiences often powered my immersive technology. Innovative examples include the Mercedes Benz Travel program in China and our Johnnie Walker Blue Label Gallery .
- Personalisation over conformity
Luxury consumers are craving hyper personalisation at every touch point, so luxury brands need to think about how their products and experiences are delivering more personal moments for people.
So luxury marketers need to tear up the traditional marketing toolkit, cleverly leveraging the myriad of digital channels and tools at their disposal to demonstrate discernment rather than blast them with bling.