You could sell luxury automobiles or ice cream cones it wouldn't matter, today's market is brutally competitive. That, of course is in great part due to the internet and platforms like social media. The internet and the cyber-marketplace have given more power to consumers and a voice that can't be ignored.
That collective voice with 92% in unison said that they trusted influencer marketing more than celebrity endorsements. That voice combined with the competition to gain more of the market share, grow customer bases and increase revenues demands attention.
Luxury brands have apparently recognized this and in order to keep up they have responded. Half of those 73% have made the move to employ influencer marketing within the past year. That isn't a company response, that is an industry response. Like any business in any industry you either keep up or get left behind. The question is this though, is keeping up enough?
Using the basic principle of practice makes perfect, the more often you do something the better at it you are most likely to become. Marketing professionals who have been in the industry for any length of time have learned better, more creative and more effective marketing strategies. This is evidenced by the industry trends and even by this newer strategy of luxury brand influencer marketing.
That being said, the advantage will go to those who begin exploring and using this strategy now. Getting ahead of the pack is often a matter of getting there first. In this specific scenario those getting there now will also be better and more effective than those who are late to the game. Perhaps this is why we are seeing so many luxury brands racing to get there now.
Getting It Right
Keep up, get ahead and stay there by getting the art of luxury brand influencer marketing right. That leads to the one aspect of luxury brand influencer marketing that hasn't yet been discussed, namely the influencer. Getting it right means getting the right influencer. This is more important for luxury brands than most others.
Your success will be intimately tied to how well your influencers communicate your brand. The more authentic and credible the influencer the more credible your brand will become. That means marketing in ways that doesn't resemble advertisements and logo-driven banners. Creativity and originality that equates to your brand translating naturally into the world of the consumer is effective influencing.
What many luxury brands may experience if they successfully engage in influencer marketing is a new audience and buyers they haven't yet recognized.