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Why Video Is The Future Of Luxury Brand Marketing

YEC
POST WRITTEN BY
Chris Quiocho

Video has become the future of luxury brand marketing, thanks to the growing ecosystem of online influencers and the highly portable, interactive and viral nature of video today. In this article, let’s take a look at these factors and why video is an effective medium for selling luxury brands.

How Online Influencers Drive Luxury Video Marketing Engagement

Anyone who guarantees they can create a viral video moment is kidding themselves. However, it’s worth noting that viral moments gain steam when influencers pick them up. Typically, just before a video goes viral, at least one influential account with a large follower base shares it. Most of the views and engagement come from this one high-visibility account.

Why does that matter? Because there are many influential accounts that are open to engaging in shoutout swaps or similar content deals. Videos are great content for influencers to star in and easy for them to share. It fills a need for both parties and gets your luxury brand in front of a cross-section of the population that has already expressed interest in the type of lifestyle on which an influencer has built their brand.

Catch an influencer's attention by acknowledging their lifestyle and aesthetic. I don't know the specifics of your luxury brand, but I'm sure you know the difference between Cardi B's audience and, say, that of a lesser known crypto millionaire. Once you know whose audience you want to engage, create a video that matches the type of content that influencer creates.

Make the terms of any partnership clear. Beyond casual shoutouts, working with influencers requires you to treat it as a traditional "face of the brand" contract. Don't think of it as any different from getting a celebrity or athlete to represent your brand. It's just a smaller, more targeted version of an opportunity that was once only available to a select group of people.

Digital Video: More Portable, Interactive And Measurable Than Ever Before

Digital video offers several advantages as a medium for luxury branding over TV. To start, TV commercials run in their airtime slots no matter what. However, digital tools and analytics give you more control over your luxury branding by displaying your product to audiences at certain income levels or those who have expressed interest in similar goods.

As well, digital video is interactive. It can encourage people to follow links to purchasing pages and websites. This lets you track the success of a creative strategy. To create interactive videos, experiment with these tips:

1. Connect the video to a giveaway. For example, sharing the video automatically enters the viewer in a raffle.

2. Pose a question of some kind that viewers can respond to in the comments, such as "In which private jet would you fly?"

3. Focus on any custom work you do, whether it's custom 3D-printed latte foam or holographic luxury car wraps.

4. Share a limited-time offer in a video link, along with a visible end date.

Digital videos published on social platforms can be structured to give you the best chance of seeing a return on investment. Social platforms tend to have an incredible cost-to-reach ratio. That means you can create a budget equal to the average amount that one customer spends and reach a large number of potential customers for the price of one. The numbers work out that even if only a couple of people buy your luxury product through social media promotions, you make your money back and then some.

Each platform gives you incredible targeting data. The beauty of social platforms is their massive audiences and sophisticated targeting programs. You can publish your video to a segment of the population that is appropriate for your brand. That means you can narrow your audience down by factors luxury brands want to know for marketing purposes, such as income, interests and occupation.

Why Video Sells Luxury Brands: The Psychology Of Selling A Want Versus A Need

Goods and services are a combination of wants and needs. Luxury brands, by definition, often fall into wants. So, how do you sell wants? You convey more than just what a product is. You convey its entire experience through your target client base, from what they wear, where they visit and what they do for fun.

Because VR, AR and whatever is next in media isn’t readily available yet, video remains the best immersive experience you can distribute en masse. Video is where people see how the people who use your luxury brand dress. How they walk. What they do for fun. What they drive. How they live. Luxury branding is about all of the above.

Remember to use your intuition about the appeal of your luxury brand. The price tag is often the last priority of your customers, so simply focus on the big picture lifestyle your brand provides.