If I read about one more R.I.P luxury store closing I will scream. Okay, yes we are in a recession this is not new news but the media can’t seem to report on anything else but that. This is a major problem and something has to be done. Economic conditions will never improve when every single report is doom and gloom from the media.
The luxury industry has focused on glossy magazine sales to reach target audiences for many years. I guess for magazines life was just too easy or easy to take luxury perks in exchange for covering fluff stories. Yep, luxury industry you too are very much to blame for feeding fake stories to the press to pass along to target audiences. Somewhere in between the fluff and fake promotions dressed up as real stories you lost your target audience.
So just how do we recover? Today when I read top luxury blogs ALL I hear about and see are luxury store closings. The luxury magazines still are simply not getting it, the fake fluff storylines is not going to make a magazine sale. The average consumer is just too savvy and demands much more to want to purchase magazines.
The luxury industry needs substance to sustain the economic recession. Consumers who buy luxury generally do so because of the experience. Luxury is a perception and it is up to luxury brands to communicate what they want that perception to be.
If I send a pitch about a luxury brand closing, the media is all over that one. Let me send a pitch about how a luxury brand is unique and even surviving the recession, they will hold that one to use at a later time.
There are some key strategies that can really help to brand luxury. These are the storylines the media for some recession reason will not cover because they are not R.I.P luxury stories. However, you can still use them to help gain brand awareness exposure to add some profits to your bottom line.
Luxury Recession Branding Dos:
1. V.I.P Honors – Sales are for discount stores and luxury brands should communicate that pricing is not a factor to make luxury purchases. To recognize economic conditions honor luxury consumers with V.I.P specials not a sale, bad four letter word for luxury.
2. PR Campaigns – Create a strong brand presence that will let luxury consumers know that you are going to be around. Brand exposure through media outlets such as newspapers, magazines, radio, television, blogs, etc helps to build creditability over advertising.
3. Social Media Buzz – Start announcing news and happenings on Twitter, Facebook, MySpace, etc. You just may be surprised by the attraction your luxury brand can receive on social media sites.
If you need help with branding luxury please contact me in confidence firstname.lastname@example.org .