Launching a luxury brand seems like it can be a prohibitively expensive and challenging thing to do. However, there have been many companies that started as small artisan operations and grew into large international luxury brands. Having a humble starting point doesn’t mean you can’t launch your own luxury brand out of nowhere. In fact, you could be reasonably successful within just 3 months to a year with the right game plan. The question is, how do you get people to trust that your brand is worth the premium it’s charging? To help you help you solve the problem, here are four of the most essential marketing tips for new luxury brands:
1. Use the Right Email Marketing Software
New brands need to be aggressive and proactive about building a client base. While having a presence on third-party platforms like YouTube is certainly important, having a person’s email address gives you the ability to send marketing content and promotions directly to their inbox. However, managing a large list of email contacts, sending out mass emails, and adjusting autoresponder settings is much easier when you’re using the right email software. Check out this GetResponse review by Sendinblue to learn a lot about what you should be looking for in an email marketing tool.
2. Leverage Social Media
New luxury brands build much of their momentum on social media sites like Facebook and Instagram. If you’re planning on having a successful brand quickly, it’s absolutely imperative for you to sign up for all of the major social media sites and actively post high-quality, share-worthy content. People buy luxury items primarily because other people have validated the idea that the product is worth its high asking price. Social media gives you an outlet where you can start to generate some of that social engineering that is needed to build hype around a luxury brand.
3. Don’t Compete on Price
It may seem counterintuitive to purposefully make your products more expensive than your competitors, but in the luxury sector, the proven strategy of never competing on price might actually work out. Now, there may be a barrier beyond which no reasonable consumer will be to afford your product, but as long as you’re not going above that, then you could still see significant sales even after positioning yourself as one of the most expensive options in your industry.
4. Seek Endorsements
Once you’ve started to leverage social media as mentioned in tip #2 above, it would be beneficial to start seeking endorsements from celebrities and influencers that can propel your products into the spotlight almost overnight. A single Instagram post can get millions of views and thousands of comments in just a few days’ time.
It All Starts with the Name
While the steps above will help, the core of your company’s branding will start with its name, logo, slogan, website, and overall design. Starting with a fancy, catchy, exotic, and eloquent name can go a long way in making your brand seem expensive. Luxury brands are often able to command the highest profit margins just by standing behind the power of an established name and logo.