While the Inbound Methodology is invaluable for many products and services at just about every potential price point, Inbound marketing for luxury products definitely calls for a different frame of mind.
Luxury isn't required for meeting your basic needs. It's more of an investment in a person's lifestyle and happiness. Think of the difference between your average little charcoal grill and a fully-equipped outdoor kitchen. You might not require that outdoor kitchen area, but it allows you to entertain effortlessly in comfort and style.
While only 15% of customers would describe themselves as loyal to a specific brand or company, that small percentage of potential customers could be responsible for up to as much as 70% of your sales. When thinking about how to sell a luxury product through Inbound Marketing, there are a few facts you might find surprising:
1. They're Talking About You on Facebook (and Instagram, and Twitter, and...)
Luxury Daily found that nearly 60% of shoppers in the market for luxury products asked for advice from friends and family on Facebook before making a purchase, with another 30% making a point to voice their own opinions on luxury products using social media like Twitter or Instagram.
Half of all luxury brands don't even include social media marketing in their digital marketing strategy, and that is a big mistake. Without utilizing a social media team dedicated to making that personal connection with your prospects, you're missing out on a huge opportunity to meet your prospective clients right where they are.
This is especially important for luxury brands that tend to trade in products or services designed to suit an aesthetic as well as a personal need. Social media platforms like Instagram can help your prospects to better visualize how your product or service will fit seamlessly into their lives.
Today's buyers of luxury products want to be involved in a conversation, not a hard-sell that ignores their personalities, wishes, and lifestyles.
2. Luxury Buyers Are More Interested in Value than Price.
When a prospect is deliberately seeking out a product or service that is considered a luxury, they're probably expecting to spend a bit more than the absolute minimum. They'll also be on the lookout for being "overcharged" — that is, paying for value they do not feel they received.
In order to provide the ideal exchange of cost for value that luxury buyers are searching for, you'll need to put your focus on three essential things: quality, customer service, and an authentic personal connection.
Emphasize the ways in which your product or service is superior in quality. For luxury brands that tend to charge more for products and services, it's essential to explain your brand's value right from the start. Are you a clothing brand dedicated to totally Made-in-the-USA basics manufactured from 100% American-grown cotton? Make that the cornerstone of your digital marketing strategy! Do your contractors have a reputation for finishing backyard pool installations on time and using quality materials? Emphasize that reputation, how you earned it, and consider utilizing testimonials from happy former customers.
Utilize an instant chat-service on your website. This helps to provide the "in-store" customer service experience to prospects, even when they're just sitting on the couch with a phone or laptop. Have a customer service representative available to answer their important questions, even before they've taken one step into your store or office location. All your employees should be focused on finding out what the prospect is searching for and ensuring your product or service is already there with the answer.
(Note for small luxury brands: We've seen a resistance to the use of live chat by smaller businesses concerned that there simply won't be someone available to man the chat service all-day, every day. No problem! You can set up your chat service to let customers know that someone will get back to them shortly and to send an email notification to employees to follow up with the customer right away. You can also consider investing in a chatbot for automated responses!)
Finally, be sure to follow up after the Zero Moment of Truth has passed and the purchase was made — especially if the luxury buyer chose your company. A loyal, happy client is someone who will sing your praises to friends and family — plus, as we saw during point number one, they're likely to sing your praises all over social media, too.
A good review or two, photos of your product or the result of your hard work, stories about your kind and friendly customer service representatives who went above and beyond to delight your customer... we can't overstate the value of having happy customers engaged in boosting your good reputation.
If you center the core of your digital marketing strategy on showing that you stand head and shoulders above your competitors when it comes to quality, customer service, and personal connections that go on long after the initial purchase, you'll be the brand everyone is talking about — in a good way, of course.
3. Mobile Experience Can Drive In-Person Engagement
News articles love to talk about "in-store" vs. "online shopping," but the truth is that the line between the two is increasingly blurred.
A study by Forrester Research showed that 66% of luxury consumers are often browsing inventory, looking for deals, and searching out information about your business on their mobile phones even while they are physically in your store or office.
The Forrester Research study also showed that consumers were more interested in speaking with a sales associate with a mobile device in-hand that gives them instant access to inventory numbers, customization options, and other answers to the prospect's questions. In a world where answers are usually just a Google search away, streamlining the shopping process is increasingly essential.
Crafting a user-focused experience on your website doesn't stop when a prospect walks in your front door — that's only the beginning of an ongoing journey. Your site can't rely on simply being mobile responsive. You'll need to embrace the use of smartphones in the overall Inbound Methodology experience from initial Attraction through Conversion and beyond.
Marketing Luxury Products Can Seem Like Selling "the American Dream".
The American Dream — that hope for a car in every garage and a chicken in every pot — has been built into marketing right from the early years of the 20th century. When it comes to the modern American Dream, it's less a hope for a chicken in every pot and a little bit more of a dream of a pool in every backyard.
If you're interested in learning more about how to sell a luxury product through Inbound Marketing, Waypost Marketing is here to show you the way. Just click the banner below to get started: