Designer brands use luxury goods selling techniques that drive engagement and boost the brand's popularity among consumers to increase sales. By showcasing their premium product value based on consumer perspectives, brands can boost sales.
Learn from high-end luxury brands such as Louis Vuitton, Net-a-Porter, and Burberry by using their luxury goods selling techniques. Let's review how these brands convert leads to sales.
Are you looking for tips for boosting profits? Check out these luxury goods selling techniques you can use to increase brand awareness and traffic to your site.
The rise of online shopping and digital channels are contributing factors to the disruption of brick-and-mortar sales. To thrive, luxury brands need to enrich the buyers’ experience and transform their operations in the digital age.
According to McKinsey, nearly one-fifth of luxury product sales will be online. That's why luxury brands like Louis Vuitton focus on unifying their online and in-store experiences.
While many luxury brands' selling techniques require elements of in-person service they cannot replicate online, they are finding ways around these hurdles. For example, tailoring services, custom measurements, and fittings were only available for in-store customers.
Today, technology allows customers to get a tailored fit using AI and augmented reality (AR), among other technologies, to offer personalized products tailored to fit perfectly without leaving home.
One luxury goods selling technique is offering EIP memberships. EIP stands for Extremely Important Person, and this membership unlocks special privileges such as (but not limited to):
Some brands have even partnered with companies like Uber, which will pick up customers and drive them to the brand's nearest brick-and-mortar or resale shop.
To become a member, brands will usually require that a customer reaches a specific threshold, like specific amounts spent in a certain timeframe or the number of purchases accrued.
Net-a-Porter's EIP program is a prime example of how high-end brands can take advantage of a consumer's desire to be seen as a valued customer.
Segment your audience by lifetime consumer value and advertise special sales or early shopping events to the highest-ranked customers. Encourage other shoppers to make similar purchases to unlock the same benefits.
Consumers automatically regard luxury brands from high-end retailers as high-quality and worth every dollar spent due to the designer connotations associated with the brand.
For example, Louis Vuitton handbags' fabric, thread, and craftsmanship are made from the highest-grade materials. It adds value to the perception consumers buy into when purchasing high-end luxury goods.
Dior instills value in their brand by showcasing the unique manufacturing process that goes into making its designer handbags, clutches, and purses. It is how they measure product value.
Much like how storytelling is essential to any marketing strategy, brands built on a particular history or heritage tell their own story. They do this by prominently displaying insignia and value signals throughout their online experience.
Social media plays a critical role in assisting luxury brands in converting visitors into customers. One example of a successful social media marketing campaign is Burberry's video, Tale of Thomas Burberry, shot by Asif Kapadia, an Oscar Award-winning filmmaker.
The video featured actors Domhnall Gleeson and Lily James, depicting the life and entrepreneurship of the brand founder and the struggle Burberry faced getting his luxury brand off the ground.
They first published the story on their Facebook page, where it went viral. They then shared the video on other social sites, like Twitter, Instagram, TikTok, and YouTube.
When your brand advertises the story behind the production of your luxury goods, visitors are more likely to visit your website to learn more about the products you're marketing.
If you use advertising channels like Google Ads, Facebook, or YouTube to drive traffic to your site, you must be careful when targeting your audience.
For example, in Google Ads, you want to avoid overspending, as pay-per-click ad costs add up quickly, and there is no guarantee of conversion.
Likewise, to effectively build an audience on social media for your luxury brand, focus on high-income individuals when targeting your ads at customers.
In Deloitte's Global Powers of Luxury Goods research, experts reported that the availability of digital channels available to luxury brands and the rise of ecommerce create a consumer need for both large-scale and high-quality product personalization. People want to be seen as individuals who showcase their personal and unique style. These feelings intensify with high-value purchases.
All consumers want high-quality customer service, which is amplified in luxury goods purchases. If they're willing to spend money on premium products, they have the right to expect premium customer service.
You can offer exceptional customer experiences online and in-store. For example, live chat features allow your brand to engage with buyers at any stage of the buying journey, from information on a product to shipping times and assistance with returns.
High-quality content marketing strategies offer luxury brands the ability to convey the elevated level of the brand's quality and aesthetics to their target audience through its appearance and brand voice. Content can be:
For premium brands looking to increase loyalty and margins, ConfigureID is the product personalization platform that delivers an intuitive interface, photorealistic visualization, and sophisticated configuration logic to drive ecommerce conversion and product value.
Whether you own a brick-and-mortar or an ecommerce store (or both), your high-end luxury brand can increase brand awareness with luxury goods selling techniques available with our product personalization tools. With ConfigureID, give your customers the power to customize every order.
Contact us today to speak to one of our knowledgeable staff who can answer your questions. Or request a free demo and see firsthand how ConfigureID will improve your selling techniques.
