Jul 07, 2017 - 02:01 PM
Jul 10, 2017 - 07:47 PM
- 1.Maserati: Is 102 years old
- 2.Hermes: The 175-Year Old French Fashion Empire
- 3.Rolex founded in 1905, 112 years old
- The history of Rolex is inextricably linked to the visionary spirit of Hans Wilsdorf, its founder
For any brand to be successfully & sustainable over time, in particular with regards to your question regarding luxury brands vs new startups, you need these 4 pillars to communicate the value of your brand or product with your audience-
- Proceed with purpose
- Differentiate your company from others
- Be memorable
- Make it personal
Let’s take a look at each of the above 4 pillars with regards to each of the three brands you referenced. Each brand or product have distinct purpose or positioning, i.e. each is elevating your lifestyle. When you wear a Rolex or Hermes or drive a Maserati, what you are saying to the world is “I have arrived” or “my family can afford this item”.
The brands are able to distinguish themselves from commoditized products by producing creating a sense of exclusivity.
They are memorable of course
And finally, they make it personal and personable.
It is not that they do not advertise. The fact is they do advertise in media/environments where their potential customers and fans are likely to aggregate. They sponsor events where those fans will attend. Golf tournaments, horse races, car shows, etc. These the events where the rich and famous aggregate.
Then question is how do they do it?
There are subtle attributes to reaching these audience. The brands you mentioned have the following attributes –
- They have carefully built trust with their customers over the 100+years of doing business.
- People want to trust in brands that will be around for a long time and because of that, new customers to the brand have confidence that the brand is likely to be around for another 100+ years. So there is a built in confidence to adopt the brand
- It is generational. Kids want to adopt the same brands as their parents. If you wear a Rolex, chances are that your succeeding generations will also want to wear Rolex because they have confidence and trust in your choice of brands.
- At a certain level, these brands or products become an investment. Classic cars have proven that over the years. Hermes now have bags that increase in value over the years.
- Your question was- advertising luxury brands vs new startups. The answer is that new startups and young brands do not yet have the trust, longevity, generational engagement, and the confidence necessary. It is not that they will not get there. They may, given time and adoption. So new and startup brands have to advertise where they “fit in”. Where their audience it likely to be and specially given their budget.
Sep 28, 2017 - 02:29 PM
You might see them in luxury magazines, or you may be targeted with display ads based on your income.
As advertisers, their biggest concern is appearing next to something that could be considered "cheap" so they're very selective about their ad spend.