For a long time, Luxury brands have been defined by their exclusivity and high price tags. But in the age of social media, luxury brands face a new challenge: how to stay exclusive when everyone has access to the same platforms and influencers.
One of the ways Luxury brands maintain their exclusivity is by partnering with niche influencers with smaller but more engaged followings. These influencers are often more expensive to work with, but they can be more effective in reaching and converting luxury buyers.
Another way luxury brands are keeping their exclusivity is by controlling the narrative around their products. They do this by investing in quality content and working with experienced creatives who understand their brand identity. It allows them to tell a cohesive story that resonates with their target audience and reinforces their position as a premium brand.
The rise of luxury influencers
As social media use has grown in recent years, a new breed of internet user has emerged: the luxury influencer. These users have large followings on platforms like Instagram and Snapchat, and they use their influence to promote high-end products and services.
While some luxury brands have been hesitant to embrace this new trend, others have seen the potential in partnering with luxury influencers. After all, these influencers already have an audience of people who are interested in luxury goods and services. By working with them, brands can reach a wider audience without compromising their exclusivity.
There are a few things to keep in mind when working with luxury influencers.
First, it’s important to make sure that the influencer’s aesthetic is a good fit for your brand. You also want to be sure that their audience is aligned with your target market. It’s also important to work with influencers with an established following, as you don’t want to give away free products in exchange for a small number of followers. Remember that the value of influencers lies in their ability to provide a creative platform for luxury brands.
What makes luxury retail so unique?
Luxury brands have long been associated with celebrity endorsements and using influencers to market their products. In recent years, however, luxury brands have been increasing their use of influencer marketing due to the rise of social media. Influencer marketing allows luxury brands to target a specific audience and create more relatable and authentic content than traditional advertising.
Luxury retailers are turning to influencer marketing because it is an efficient way to reach consumers interested in high-end products.
The success of luxury brands today depends on more than just their products and in-store service. On the contrary, they need to prioritize developing a digital customer experience that will help them become a household name among millennials and Generation Z. That’s because influencers in the luxury market do just that: they advocate brands in a genuine way that resonates with their target audiences. Unfortunately, this connection has seen many setbacks.
How luxury brands are using social media
Luxury brands have long been known for their exclusivity and high prices. But in recent years, they have been turning to social media to reach a wider audience.
By partnering with luxury influencers on platforms like Instagram, these brands can tap into a new market of potential customers. While some may worry that this will lead to the dilution of their brand, luxury brands are careful to work with influencers who share their values and maintain a high level of quality.
As social media continues to grow in popularity, luxury brands are finding new and innovative ways to use it to reach more people without sacrificing what makes them special.
What are the main benefits of collaborating with luxury influencers?
Luxury influencers are a powerful tool for luxury brands looking to reach new audiences and promote their products. Here are some of the main benefits of collaborating with luxury influencers:
- They have a large and engaged following. Luxury influencers typically have a large social media following, allowing brands to reach new audiences.
- Their followers trust them. Because luxury influencers are seen as experts in their field, their endorsements carry much weight with consumers.
- They can help increase brand awareness. When luxury influencers promote a product, they can help increase brand awareness and drive sales.
- They can help drive traffic to your website. Luxury influencers often have links to their websites on their social media profiles, allowing brands to drive traffic to their website. Influencers help luxury brands reach new audiences and drive sales.
From the brand’s perspective, below are the benefits of collaboration.
Make your brand seem desirable and attainable; on social media, customers are led to hope and then enticed to spend money.
Having influential people wear your products increases their desirability.
To maintain its relevance in the modern market, your brand must actively participate in the discussions taking place in digital media.
Advertisements in just the most influential journals, such as Vogue and Harpar’s Baazar, will reach only a select audience with the disposable income to buy your product.
They also appeal to a younger, hipper demographic that will continue to drive the market for the foreseeable future, thanks to the influencers’ efforts.
Greater visibility and name recognition can be yours thanks to the power of social media (and the influencers who populate it).
Using an influencer marketing strategy in this way guarantees exposure to untapped markets and increased conversion rates.
Increased revenue is the direct result of a well-developed influencer marketing campaign.
One way to do this is to have influential people (influencers) promote your products to their followers, and another is to work with influencers to design limited-edition capsule collections that are sure to be a hit with shoppers.
How to find the right luxury influencer for your brand
As a brand, it’s important to find an influencer who is the right match for you. Here are some tips on how to find the right luxury influencer for your brand:
- Do your research. Look at the different options and compare them side-by-side. Consider factors such as their reach, engagement, and aesthetics.
- Consider your budget. Luxury influencers can be expensive, so be sure to consider your budget when making your choice.
- Pick an influencer who aligns with your brand values. It is someone who will be representing your brand, so their values must align with yours.
- Make sure there is chemistry. In addition to being a good fit for your brand, it’s also important that you get along well with the influencer you choose.
- Do your research on the influencer’s content and audience. This is important to ensure that their content aligns with your brand and that they have an engaged audience.
- Be open to trial and error. While choosing an influencer who is a good fit for your brand is important, sometimes the best influencers aren’t available when you want them. So, if you can’t find someone available when you want them, try again later. You may be surprised that they have become available.
- Know what you want from the influencer, and then give them the freedom to create. If you’re working with an influencer who has a specific audience in mind, don’t tell them how to reach that audience (e. g. don’t tell them that you want the video to be funny). Let them do what they do best, and then put their video on your social media channels.
- Collaboration: Be open to collaborating with other brands that are aligned with yours. It can help you find influencers with audiences that are a good fit for your brand.
- Quality Content: Make sure your brand produces high-quality content regularly. Influencers are less likely to collaborate with brands that don’t have a consistent and high-quality content stream.
- Fund the influencer’s work: Be prepared to fund the influencer’s work to ensure they keep your brand in mind when creating content.
Best ways to put your luxury influencer marketing plan into action
- Keep an eye on the hashtags and mentions of your brand on social media: You can find potential business influencers by keeping an eye on what your audience says.For instance, you might not have known that a certain influencer used one of your luxury items over and over again until the account of the influencer was mentioned alongside yours. The same thing could happen to a well-known person.
- Don’t pass up these chances to get your brand in front of the right people. Don’t just think about your post: Many influencers are already changing how they work with brands.It’s much more profitable to make long-term partnerships than to post on just one social network at a time. It happens because the audience sees that the influencer really uses the brand and starts to feel more and more motivated to buy it.
- Think about how each social network is different: To find the best influencers, you need to know which social network you want to be more present on (YouTube, Twitter, Pinterest, TikTok or Instagram). Even though Instagram gets 70% of influencer marketing budgets, some brands may see more value in travel content on TikTok (for reaching a younger audience) or YouTube.
- Let your influencers do what they want: Once you’ve found an influencer whose style, reach, editorial line, engagement, and audience are a good fit for your brand, also it’s important to learn how to check them out. You can give them information about your product and what’s important for a particular campaign, but remember that they know their audience much better than anyone else.
So, they know how their followers want them to talk.
If the content is too “out of the box,” it won’t feel real, and people won’t care as much about it.
- Pick an omnichannel strategy: If you want a marketing plan with a lot of reach and impact, you must use influencers and ambassadors on social media.
You must have a structure in place to assist users who are sent to you by influencers.
It includes interesting social networking sites, integrations between various service channels to make communication easy and smooth, and a robust omnichannel strategy to engage and keep users who found your brand in these ways.
The challenges of social media for luxury brands
Luxury brands have long been defined by their exclusivity and premium pricing. But in the age of social media, luxury brands are finding it increasingly difficult to maintain that air of exclusivity while also trying to leverage the power of social media.
One of the biggest challenges for luxury brands is managing their online presence in a way that doesn’t dilute their brand or make them seem too accessible. After all, what makes a luxury brand so special is its unattainability.
But at the same time, luxury brands must be active on social media to stay relevant and top-of-mind with consumers. They need to find a way to create interesting and engaging content without coming across as try-hard or desperate.
It’s a delicate balance that can be achieved with careful planning and execution.
Assessing luxury influencer’s engagement and reach
As the luxury market continues to grow, so does the number of luxury influencers. With so many choices, choosing the right one for your brand can be difficult. Here are some tips for assessing an influencer’s engagement and reach:
- Look at the overall engagement rate. It is the number of people interacting with a post divided by the total number of followers. A high engagement rate shows that people are interested in what the influencer has to say and are more likely to take action after seeing a post.
- Check out the quality of the comments. Are people leaving thoughtful, insightful comments or just generic emojis? The former indicates that they’re really engaged with the content and are more likely to remember your brand after seeing it mentioned on an influencer’s page.
- Look at the number of posts per day. If an influencer only posts one photo or video a week, they’re probably not going to have a ton of reach. On the other hand, if they post constantly, you don’t want to be the tenth brand mentioned in their feed.
- Look at the diversity. Look at how many different types of posts they make and what topics they cover. If they only post about fitness, your brand might not want to work with them.
- Check out their followers’ demographics. If the followers seem like they would be interested in your product or service, you’ll want to work with this influencer.
- Make sure the influencer is active on social media. If they are active on social media, that’s a good indication that they will be responsive to your brand’s messages.
- Evaluate their engagement rate. If the influencer has a low engagement rate, you might want to think twice about working with them.
- Look at the influencer’s follower-to-following ratio. If they have a high follower-to-following ratio, that means their followers are actively interested in what they have to say.
- Check out the influencer’s level of engagement with other brands. If they are engaged with other brands, that’s a good indication that they will respond to your brand.
- Check out the influencer’s engagement rate on Instagram Stories. If they have low engagement on Instagram stories, it might be a sign that they only pay attention to their own messages.
As the world of social media continues to evolve, so too must the way luxury brands approach it. While social media can be a great way to connect with potential customers and create a more personal connection, it’s important not to lose sight of what makes your brand unique and exclusive.It is also important to take help from an influencer marketing agency.
The key is to strike a balance between maintaining your brand’s exclusivity and using social media to its full potential. For example, you might consider using influencers to promote your brand on social media. But make sure you choose influencers who align with your brand values and who will help you reach your target audience without alienating your existing customer base.
About the Author:
Vishaka works in the digital marketing team of Kalakar House. She likes to write about topics related to digital and influencer marketing.