Marketing strategy: Creating luxury on a budget

Your business may offer luxury products or services, but that doesn’t necessarily mean you have a massive budget - not every luxury brand is going to have the budget of Chanel, Chrome Hearts, and other popular luxury brands. 

Firstly, two of the most important things you need to understand before any marketing is what your value is and who your customer is. You need to know who your customers are (ie. age, location, occupation, gender, income, etc.) as well as their aspirations and needs.

Once you know the ins and outs of those, here are some ways you can create luxury on a budget.

Refine your website

Your business should offer a luxury experience in every facet of your business, from customer experience, to craftsmanship, and more. So your website should be reflective of that as well. This means it should be easy to use, mobile friendly, and the visuals and copy should be top notch. 

SEO

88% of consumers use a search engine to find answers, so visibility on search engines such as Google is important for any brand, not just luxury ones. For this reason, SEO or Search Engine Optimization is important. In basic terms, SEO helps you improve the visibility of your website on search engines such as Google through the use of things such as keywords.

You may have also heard about Social Media SEO. Again, keywords play an important role. Using the right keywords in your captions and your bio, and using alt-text as well as captions, can all help improve your visibility on social media.

Strategic partnerships/collaborations

Partnering or collaborating with another brand or an influencer/expert can also be a valuable way to create luxury on a budget. The key is to choose brands and influencers who complement your brand, who share your target audience (and help grow it), and whose values align with your own.

Aligning yourself with the right brands and people can help you expand your reach, can help you build credibility, and can lead to positive association. 

We talk a little bit more about influencer marketing and offer up some additional blogs and guides in our recent blog, Luxury in the Age of Social Media: Navigating the Digital Landscape

Prioritze quality over quantity when it comes to content 

Visuals are so important because they are one of the first things that grabs people’s attention. From your website to your social media, and more, you should be making sure that your visuals are reflective of luxury. With that said, we suggest investing in high quality visuals - hire the photographer and/or videographer, purchase the equipment (ring lights, light boxes, etc).

Beyond the visuals, you also need to carefully craft your captions and marketing copy as well. More on that to come…

Quality over quantity also applies to how often you post as well. It’s important to remember that you don’t have to post on every platform and everyday, but you should be consistent.

Focus on product quality and value

We mentioned above that you should craft your social media captions and marketing copy with care, but your website, your social media content, and everything in between should focus on product quality and value. Use content in all forms to highlight craftsmanship, legacy, and more, this is how you’ll portray luxury, without having to say you're a luxury brand.

Host exclusive events

Hosting exclusive events is a great way to market luxury products on a budget because it offers a unique and special experience for consumers and allows you to engage directly with them. It also creates a sense of FOMO, remember, luxury is all about exclusivity. 

So let’s illustrate what that may look like through an example. Years ago, I worked at a high end retailer who sold luxury products and throughout the year they would have several “trunk shows” featuring various brands we carried. To attend these shows, clients would need to schedule an appointment, we would have a charcuterie board, would offer clients a beverage such as champagne, sparkling/flat water, or an espresso - whatever they prefer, and we would give clients a peek at the collection, including products that were new launches or not in store. In one case, we were able to work with the brand representative to also have custom treats (decadent chocolates that were shaped like a symbol of the brand used).

This is certainly something that anyone can do with some planning and budgeting! The above was just an example, not a guide, so remember to make it your own and have a little fun with it! You can have a virtual or in person event, you can feature products, a how to, you can preview seasonal collections, and so much more. 

Are you creating a luxury brand? Check out our latest blogs:

Luxury in the Age of Social Media: Navigating the Digital Landscape

The Art of Luxury Branding: Creating an Irresistible Image