Understanding luxury PR branding can be a very complex product and service to explain. Can you still find consumers who actually want to purchase million dollar goods today? The answer to that question is YES, in fact there are more consumers who want million dollar goods than the luxury industry is servicing right now.
Lately, we see a lot of exposure for mega million dollar properties. This is partly because of the interest in how young real estate professionals market and sale luxurious homes on reality television shows. The demand to spend millions for luxury goods exceeds being only properties. Super rich individuals are still looking to buy and spend on just about anything with a million dollar price tag. I know this because luxury brands wanting to market and promote million dollar goods, seek us out to help make it possible.
The point of action is to attract ultra wealthy luxury consumers to million dollar goods. There are missed opportunities for luxury PR branding to win this niche target audience. For example when we work with a luxury real estate developer our approach is very different from the agent who will be marketing and selling the project.
It is our job to create a luxury PR branding strategy that engages and creates brand awareness for credibility. These are the elements to attract ultra wealthy consumers by creating a demand for the project. Luxury is a perception and credibility of a brand is what makes it a must have.
Beyond properties, ultra wealthy consumers are willing to spend million dollar price tags on lifestyle enhancements more than anything. The problem is that luxury goods offered in the marketplace simply don’t solve the solution to meet the demand to enhance lifestyle public relations. Luxury is a perception and every luxury brand should think of themselves as a lifestyle brand through engagement.
I don’t feel as if ultra wealthy consumers will only spend millions on certain products. Because lifestyle enhancement is a growing demand, we can further expect to see more non-traditional services and offerings for this industry. Those luxury brands who create a consistency in their communications and planning approach will sustain to capture this niche target audience.
What needs to happen is that luxury brands must generate more luxury PR branding. This is the best method to increase credible brand awareness, as an alternative to paid advertising. It must be about engagement targeting and strategic focus group research implementation.
If you would like help with luxury PR branding, for a confidential complimentary consultation please contact firstname.lastname@example.org or contact 1 (404) 416- 6009.