Elevate Your Luxury Brand Advertising on Facebook
Luxury brand advertising can be challenging, particularly if you want to stand out from lower-level brands seeking your audience’s attention. Social media, for instance, has rapidly ascended to the top of the food chain for advertisers looking to effectively reach their digital audience. But should you really promote your luxury product or brand in the same environment that department stores vie for clicks and conversions?
As it relates to Facebook, the answer is a definite yes. The world’s largest social media network allows you to not just effectively highlight your brand, but target narrowly enough to reach only audiences interested in your exclusive brand. Finally, luxury brand advertising on Facebook can benefit from the significant influencer marketing opportunities on the network.
Facebook’s Efforts to Attract Luxury Brands
On the surface, Facebook seems to have an exclusivity problem. How can your luxury brand stand out, and reach the right audience in an environment that has more than 2 billion users every day? To answer that question, the network has made significant efforts designed specifically to help top brands succeed.
The key to success, as indicated at Facebook’s inaugural luxury forum earlier this year, is a tactic of digital support. Most customers for luxury brands continue to expect and rely on a personal experience for the final conversion. Facebook cannot replace that experience; it can, however, enhance it.
Most customers in this price segment won’t use a Facebook ad as their motivating factor to buy your product, but that doesn’t mean they don’t use the network. In fact, 80 percent of luxury shoppers use social media on a daily basis, and 58 percent of them acknowledge that digital exposure influences their buying decisions.
Targeting Opportunities that Match Your Audience
What makes Facebook so unique are the targeting options that make it an ideal fit for luxury brand advertising. Unlike most other digital channels, advertisers can choose exactly what type of audience will see their content.
For instance, thanks to a variety of third-party data partnerships, brands can target their potential customers using income levels, recent travel destinations, and recent purchases. Building a persona based on these variables allows you to set a target that remains exclusive and narrow enough for your luxury brand, focusing in on a niche portion of the network’s vast overall audiences.
And the possibilities don’t end there. Facebook also offers lookalike targeting, matching the demographics of an uploaded list of your current customers to users on the network who share similar characteristics. The result is an audience likely to be as invested in your product and content offerings as your current customers are.
The Power of Facebook Influencer Marketing
Facebook and its close cousin Instagram are in many ways ideally suited to put that power into action for your brand. The concept of working with popular figures in your audience’s sphere of influence is absolutely crucial in enhancing your brand’s credibility, while at the same time adding to the air of exclusivity that is so vital for successful advertising in this field.
Building Your Facebook Luxury Brand Advertising Campaign
All of the above is theoretical. But of course, as is the case in all marketing and advertising, the execution of a plan matters significantly. When building your Facebook campaign, you have to make sure that you get a number of variables just right, including:
- • Understanding exactly who your audience is, and building a targeting strategy specifically to reach only that segment.
- • Choosing from the variety of ad types (from VR video to canvas ads) that match your brand image and audience expectations.
- • Developing copy and visuals that pops immediately in your audience’s newsfeed, standing out from the hundreds of posts they read each day.
- • Understanding the metrics you have to use for the success of your strategy, and make adjustments as needed.
Don’t be discouraged by the broad reach of Facebook, which seems to act counter to the exclusivity you want to communicate. Instead, take advantage of the network’s advanced features, and maximize your marketing and advertising potential as a result. Used correctly, Facebook can be a major part in advertising your luxury brand.
Marketing luxury real estate is complicated and forming strategies that are unique to each project requires extensive research and planning. It is worth establishing benchmarks and metrics for both online and offline marketing, in order to understand which is more effective overall. Having these metrics will help drive long-term marketing strategy, and will provide a good blueprint of where resources need to be directed in order to gain maximum return on investment.