Here’s how luxury brands are hacking growth in a new customer era

Like all living beings, growth occurs in all facets of human activity. This growth is the result of changes in systems and sectors. The marketing mix that worked for luxury brands in the past is certainly not the same for today’s consumer era.

In short, the nature of consumer needs has changed. In response to this, marketing efforts are increasingly geared towards meeting the real needs of the target audience. The focus shifted from product features to how those features meet the needs of the target audience. In doing so, luxury brands like Gucci and Chanel are able to appeal to the emotions and desires of the public, especially on the luxury side of things.

Specifically, luxury brands aim to use available media and new methods to reach their audience. I researched new opportunities in luxury marketing at the Fashion Institute of Technology. I can assure you that a day is long, that the success of a luxury brand relies on new marketing platforms to achieve goals and overall brand success. In fact, the new marketing buzzword for driving business success is growth hack. The term itself is said to have been coined by Sean Ellis in 2010 when he was trying to come up with a new job title that best described his role in the companies he had worked with – growth.

The birth of a new customer era

Today’s customer era is unique, characterized by a heavy reliance on digital media, short attention spans, and other complexities that are apparent in today’s marketplace.

To reach and stay in touch with their target audience, luxury brands are taking advantage of messaging and marketing automation tools. These tools allow them to break down complex messages into small, easily absorbable pieces. These messaging elements easily translate into the need for more time and resources to execute marketing communication needs. But with the automation option, less time and resources can be spent on achieving the desired results. Entire messaging for a period or business/promotion process can be configured at once and allowed to run on autopilot.

By breaking down complex messages into easily digestible pieces, luxury brands allow their audiences to grasp their messages on the go. It also saves them valuable time for other vital production and customer management efforts.

In this new era, the concept of remote working has gained greater acceptance and adoption. Luxury brands have quickly adapted to the reality this presents. Brands take advantage of services like Nextiva and their NextOS platform, which has all communication channels connected to apps and business intelligence.

One of the keys to growth in the new customer era is developing a culture that easily embraces the changes needed and the realities that come with them.

The new customer era and bulk messaging

The truth of the modern customer era is that people are very busy, which makes it hard to connect with them. At the same time, they are always on their mobile devices for various reasons. This makes SMS marketing a viable way for luxury brands to connect with their audience.

Group messaging is an easy and convenient way for brands to post updates on new products and offers, offer prompts, and additional information. Intis Telecom has powerful and stable mass messaging software with direct connection to GSM and CDMA mobile operators, which provides exceptional mass messaging solutions for brands looking to grow and stay in touch with their customers. With Intis Telecom’s messaging solution, luxury brands can send messages about products, events and other company news to increase brand awareness and drive patronage.

“After some of our luxury segment customers started using short links with the product image inserted into the SMS, they reported a 270% growth in the conversion rate of sent messages into new orders,” said said Andrey Insarov, founder and CEO of Intis Telecom. .

According to a report, it is expected that 48.7 million consumers will choose to receive business text messages by 2020. The report also states that 79% of smartphone users make their purchasing decisions based on SMS activation or similar mobile device services, while the average open rate for SMS marketing campaigns is 98%.

It’s a new era, and the more personal the communication, the easier it is for people to connect with the message and take the desired action. Bulk messaging allows luxury brands to hack growth, and you can do the same too.

The New Era of the Customer and Email Marketing Automation

Email marketing is one of the easiest ways for luxury brands to reach millennials with their brand message to entice them to make a purchase or convert them into repeat customers. According to a report by Fortune, a survey of more than 3,000 consumers in China, Europe and the United States by UBS Group AG found that millennials contributed 85% to the growth of the luxury market in 2017 and will account for 45% of total high-end spending. by 2025.

The survey reported by Fortune also revealed that luxury brands like Gucci and Louis Vuitton are millennial favourites. This is largely due to their social media exploits, which have allowed them to reach more people and create more loyal customers.

What many luxury brands have also realized is the power of email marketing in today’s age of customers. Today’s customers may be busy, but nothing piques their curiosity quite like an email from a brand they know or respect.

To help these luxury brands drive growth through email marketing and automation, Maropost as a digital platform enables brands to achieve greater audience engagement, acquisition of customers and sales growth by offering industry-leading inbox deliverability, advanced reporting, sophisticated segmentation, list management, template management, A/B testing, and email automation.

According to their CEO, Ross Andrew Paquette, “We know people are buying experiences today, not just products. And this is even truer when it comes to luxury. With our marketing automation platform, these brands are able to easily create tailored experiences. for their customers based on what they like and want, which results in engagement, satisfaction, and ultimately more purchases.

With simplified marketing automation, luxury brands can drive consistent growth, achieve priority awareness, and stay ahead of the competition. Awareness is key, which is why Rolex easily comes to mind when you think of luxury wristwatches and Louis Vuitton when you think of luxury bags and fashion accessories.

Blockchain heralds the new era of education

It is impossible to execute a marketing effort or a growth plan without funding. Mismanagement of funds can easily lead to the collapse of the most successful luxury brand. Using blockchain to achieve financial education is one approach taken by one brand.

“We needed a token that could be fully functional, a vital component to benefit students, universities and the community at large, with all the technology of the last century the world has become a smaller place,” says Luke Arliss, the key founder of Edgecoin Pay. He has worked in the cryptocurrency space since 2015, where he used quantitative and algorithmic trading methods to reduce risk and maximize returns.

Luke, however, admits that there is still a lot to do in the financial market with blockchain technology.

“We have literally scratched the surface, Blockchain technology is well and truly becoming one of the most important technologies of our time, much like the internet was two decades ago. It will fundamentally change the world as we know it. says Luke.

The idea of ​​Edgecoin was conceived a few years ago when Luke Arliss realized the difficulties faced by not only students, parents but also universities in supplying and providing this most valuable asset, education. . “Knowledge is power,” he said, stressing that universities have an important role to play.

In order to introduce a smart financial solution and ensure the convenience of payments, Edgecoin Pay, an educational Stable Coin digital token, allows online settlement of education-related transactions such as registration fees, accommodation , books, etc. take full advantage of the educational infrastructure, regulation and stability of traditional financial processes and systems.

Adapt to the new era

A big part of growth hacking is being able to identify what works and what doesn’t. This understanding helps brands focus their attention in the right places, make vital business decisions, and stay relevant in the face of increasingly changing times.

Brands that would stand the test of time must be able and willing to evolve in a way that allows them to adapt to the new era and prevailing reality in whatever area they are known for. Sometimes this adaptation can mean introducing a new product/service line, moving to a different industry, or a masterful combination of the two.

Growth is not always comfortable. It may require resources and time, but the benefits outweigh the cost.

Messaging and marketing automation tools are essential for any brand looking to see massive growth in this new customer era. For luxury brands, these tools allow them to build deeper and meaningful connections with their audience. Do you want growth for your brand? Get started with messaging and marketing automation today!