Luxury Brand Study: 2 Common Denominators for Success

sample of a few luxury brands for study

If perception defines reality and we "are" the stories we've told ourselves, a good marketing plan understands the "stories" of the consumers whom they are targeting.   And no one understands the "stories" that luxury consumers believe about themselves better than some of the world's most successful luxury brands with their marketing strategies.  

Brands such as Four Seasons Hotels and Resorts, Chanel, Ferrari, Virgin, Dom Perignon, Ritz Carlton and more have a formula that they have proven successful and stood the test of time.  

Many people think of branding as a one-time event - you do one thing and you're "branded".  Leading luxury brands have mastered the fact that you don't stay iconic if you are not managing the brand and making it relevant day-to-day, moment-by-moment.  And this especially includes how it translates to service on the product, too (those who are responsible for interacting and serving the consumer who invests in the luxury brand item).  This is why our consultancy is so big on training for businesses.  It's one thing to have a theory about your brand and good product, but unless those delivering the success of that product are on board with the same standards, expectations and vision, the brand will go extinct. 

While our in-person workshop delves into detailed definitions and "secrets" used for marketing and PR by luxury brands, we thought we'd share 3 common denominators used by many luxury brands when it comes to making them who they are, and in particular for their marketing and presence in the world.

 1.  Innovative Leadership with Trailblazing Concepts:   No luxury brand would be what it was if it didn't start from the inside out with exceptional leadership on creating the very "je ne sais quoi" that makes the item what it is.  Very often these concepts blindside the competition with something new and fresh that has never been done before.  It also goes without saying that branding and innovation for a successful brand must permeate every aspect of the product, especially those who service it and interact with the consumer who engages with and purchases the product.  It takes innovative leadership balanced with a keenly brilliant and talented collaboration team to make - and keep - luxury brands going.  It is always from the inside out, in that order. 

2.   Creating Brand Connection & Strategic Narrative (story-telling):  using emotion and psychology to help move consumers to achieve the brand's purpose. This is the essential element of everything Engaging Inspiration does with its clientele.  Strategic narrative finds an essential element or character that is instantly recognizable, emotionally meaningful and then translates this to every aspect of marketing and PR. 

According to Andy Wright,  “An iconic brand plays a valued role in a consumer’s life. It delivers a feeling that the consumer just can’t get from any other brand. That feeling may be security, safety, familiarity, excitement, satisfaction, indulgence or many others.”

The base for all luxury marketing is a full realization that one does not need to market to and gain the business of every single person out there. It's determining your niche and playing to that consumer need exclusively and not worrying about trying to be everything to everyone.  

Our Luxury Brand Study Workshop takes a look in more depth at these and many other items and then gives attendees actual take-home steps they can implement immediately.  Contact us for further details.
 
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Engaging Inspiration provides marketing, PR, strategy and service training for the thinking special event and hospitality professional.