The last decade has brought a distinct rise in ultra-high net worth population, increasing demand for luxury products and services. In 2018 alone, the luxury market grew by 5 percent, to an estimated $1.3trillion globally. As technology continues to evolve, the battle for luxury brands is moving online. Yet, each day seems to bring with it more, competitive entrants to the market. This can only mean one thing to brands eyeing the luxury market; the need to deliver an exceptional white glove service has never been higher. But how do you beat out the competition in this rapidly changing tech age? Here’s how creating a marketing strategy can make your luxury brand successful.
Creating a Marketing Strategy: Luxury Is a Personal Affair
Consumers believe that customer experience is a representation of how much a business values them. For many, personalized services are enough for them to choose one brand over the other. After all, they have unlimited choices. Some of which are way bigger or even offer better prices than you. You can’t control any of that. But, you can personalize your services to make your customers feel appreciated.
For instance, featuring a customer each month on social media or website or rewarding them for valuable feedback can sway their decision to always shop with you. A personalized service (during or after purchase) is the reason many customers pay more for a product.
One thing we know for sure is that every client is unique. Whether you are in real estate or transportation industry, your customers need to feel a standard of care with every service you offer. For that reason, it’s vital that you dive deeper into understanding their needs, abilities, preferences, and expectations.
That way, you’ll be able to give them a white glove service that is tailored to their individual needs. Even better, exceed their expectations. Caring about customer needs through attention to detail and value addition will play a significant role in setting your business apart from the competition.
Luxury Consumers Want Experts
Today, technology has made it possible for prospective buyers to carry out extensive research online before making purchasing decisions. They value the assurance that comes from a seasoned expert. That’s why you need to establish yourself as an industry expert through a solid online marketing strategy. This may include using your website and social media channels to share helpful, customer-oriented content. Newsletters and email campaigns may also work to your advantage.
Time is Everything
To any ultra-high net worth consumer, time is everything. It is the single most valuable thing they have. Why take it away? Instead, focus on creating a marketing strategy that gives them back their precious time. Be fast and decisive in your actions. Create a work environment and services that treat the consumer with the utmost respect. More importantly, ensure that less (or no) time is wasted finding a solution.
Excellence Is a Way of Life
With technology changing virtually everything so rapidly, you are never done being better. Where you are may seem okay, but where you are headed matters the most. Therefore, make excellence a journey – a guiding light to where you want to take relationships with customers, the quality services you offer as well as your online marketing strategies.
We Are Here to Help You Thrive
Does offering an exceptional white glove service in the highly competitive tech age seem like too much for you? You are in luck because the team at V12 is here for you. We can help you with everything, from analyzing your current strategies to creating a marketing strategy that will help you thrive. Contact us today to discuss your business needs.