Influencer marketing strategies aren’t particularly new, but they are new for the vast majority of luxury brands.The success of influencer marketing has been well documented, so what has kept luxury brands from getting on-board?
We discuss essential tips that will enhance your strategy.
The Luxury Brand & Influencer Marketing Relationship
Until recently, there has always been a strain on the luxury brand relationship with influencer marketing.
By design the traditional influencer marketing strategies were intended to access and connect people with businesses. In many cases it was even aimed to homogenize a product or service with the daily lives of its customers.That, by the very nature and exclusivity of the luxury brands, was not good.
How the influencer marketing strategy is implemented was the answer and has proven effective, but the damage had already been done. By the time the term influencer marketing was gaining real momentum and showing real results, how it was being used and discerned in addition to how it was promoted had likely scared off any serious luxury brands.
| “…balancing exclusivity and aspiration on social media…is the biggest challenge.”
That is how one recent article described that strained relationship.
It appears that this initial trepidation has passed—and the luxury brands are positioning themselves to make some noise. In fact, that may already be happening…
A Move to Utilize Luxury Influencer Marketing
Based on another report, luxury brands are already outpacing non-luxury brands 73% to 54%.
Those may be some shocking numbers for many, but there is a reason why you might not have known this. According to the article nearly half of those 73 percent have been engaged in influencer marketing for less than a year.
This is a new movement for luxury brands.
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 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 influencer marketing right. That leads to the one aspect of 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.
Helping Luxury Brands Expand
This is somewhat ironic but the very fear of “watering down” luxury brands by opening up to the entire marketplace is actually the very move that could pay dividends in the end.
What a good influencer will do is maintain the integrity and message of the company while upholding the status of the company name—and do this while using social media forums to reach the world. What luxury brands are discovering is that allowing anyone access does not require using low-rent facilities or lessening their brand or standards.
When done properly it merely affords others outside of their traditional luxury brands customer base an opportunity to join them.
Just One More Resource
Luxury influencer marketing is essentially just one more tactic, one more resource that professional marketers can use to effectively engage customers and get results. Part of being successful in marketing requires reaching the people and meeting them where they are.
Where people are at today is online.
Increasing web traffic is another benefit of luxury brand influencer marketing and one of the primary indicators that your message is getting out there and reaching customers. Influencer marketing for your luxury brand will help you get your message to more people, reach more of the right people and will make your brand stronger.
What we all are learning through this process is that it isn’t about the marketing strategy or the marketing tools—it’s all about how we use them.