5 Luxury Marketing Tactics on a Startup Budget
By Farlyn Lucas
Whether you’re a small business or a high scale luxury brand, advertising is essential to building brand awareness and increasing revenue. Just because designer brands have sizable budgets doesn’t mean they have to spend it all to effectively advertise their company. Here are our top tips on how to advertise your luxury brand without spending luxury budgets.
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1. Develop a sophisticated website
Building off of social media marketing, another digital way to advertise your luxury brand is through a professional and cutting-edge website. Web design is incredibly important in marketing your brand and reaching clientele. Invicta states that “75% of consumers say that they make snap judgments about a company’s credibility based on their web design,” highlighting the importance of maintaining a professional website in order to elevate your brand and strengthen your image. You want your website to be clean and informative while also impressing your clients. It’s a win-win; you need your website to drive online revenue, so why not make it cutting edge and eye-catching.
2. Build awareness on social media
Another affordable marketing option is social media. Creating a profile on various social media platforms is a great way to establish your company and create awareness for free! As people scroll or click through the app, they can easily see your brand and check out your profile before jumping over to your website. Want to take it a step further? Your luxury brand can pay for advertising on these platforms, targeting your ideal client and furthering your reach.
3. Advertise on local print magazines
Local print advertising is a great affordable way to promote your luxury brand. After identifying your target audience, you can run advertising in a number of luxury home magazines that reach people with similar demographics. These large publications often offer discounts for local advertising, making it an affordable marketing option. Additionally, the majority of magazine readers are paid subscribers, meaning that readers are more likely to see and engage with your advertisement. It’s a great cost-effective way to promote your brand.
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Local print advertising is a great affordable way to promote your luxury brand. After identifying your target audience, you can run advertising in a number of luxury home magazines that reach people with similar demographics. These large publications often offer discounts for local advertising, making it an affordable marketing option. Additionally, the majority of magazine readers are paid subscribers, meaning that readers are more likely to see and engage with your advertisement. It’s a great cost-effective way to promote your brand.
4. Create an experience
A great brand marketing strategy for luxury businesses is to create an experience around your company. Widen describes a brand experience as “the sum of all the sensations, thoughts, feelings, and reactions that individuals have in response to a brand” and the “lasting impression” a brand has on consumers. By creating a memorable and personable experience, customers are more likely to frequent your store and make a purchase. They feel special and associate your company with this constant feeling that creates “lasting customer relationships and [an] increase[d] brand recognition.” Capitalizing on this sensation is an effective way to market your luxury brand without spending too much money.
5. Don’t be afraid to stand out!
From high end designer fashion to luxury hotels, a cost-effective way to market your company is by capitalizing on your uniqueness. It’s crucial to identify what makes your brand special and what makes your company stand out from the rest. As you advertise via digital or print platforms, keep in mind the distinctive characteristics of your luxury brand. It could be anything from your attention to detail to your craftsmanship or personal customization. By highlighting what sets you apart, you draw buyers in; they want a part of what makes your brand special. It’s a strategy that you can utilize across all advertising mediums.
Farlyn Lucas is a freelance writer who specializes in marketing and business. She helps business owners create content that works for their audience, so that they can attract the best people. When she’s not working, she enjoys playing badminton and baking chocolate chip cookies.
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