Luxury brands with significant budgets are constantly keeping track of their various marketing campaigns and assessing which ones bring the best ROI, (Return on Investment of time and money.) As a luxury real estate marketing professional, there are lessons to learn from these savvy brand managers.
In the past few years, many of the top brands have engaged award winning videographers, writers and directors to produce videos about their latest offering, and also their heritage in order to engage their target market. Their goal is to increase brand recognition, brand loyalty and brand retention. These videos were distributed on many social media with high hopes. These efforts and many more fall into the category of what we call “hope marketing”.
What has become clear to the luxury industry is that face-to-face experience including live events is what drives the ROI in the right direction. For instance, artisans of high-end jewelry brands attended some of these events to demonstrate the intricacies of how to choose the right gem and how to set it. This type of experiences is educational and interesting. It creates a connection with the brand and the people behind it. It engenders loyalty and word of mouth referrals,
According to a survey by Wealth X, over 84% of the top 1000 luxury brands hosted events that focused on making a connection with their market. 62% of those who kept statistics found significant increase in the ROI.
How can you increase your face-to-face marketing and decrease your hope marketing?
ABOUT: Napa Consultants, International is the leader in brand strategy for the luxury real estate industry. They work exclusively with professionals who are passionate about gaining or sustaining market leadership. With an expertise in personal branding, company branding, luxury real estate website design and social media marketing they help their clients become the breakaway brand in their marketplace.
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