Excerpt from Google
In his role as founder of digital marketing agency Jadewolf, David Nickel, helps luxury travel brands generate qualified leads and direct bookings. His secret: A scalable luxury persona.
The average consumer seeks out the best deal possible. The premium consumer is willing to pay a little bit more for extra value — but there is a limit where higher prices result in diminishing returns. Luxury is about a personalised one-of-a-kind experience where monetary value is priceless.
So when price and value are no object, what do marketers have left to “sell”? It’s all about inspiration.
Like with any demographic, luxury shoppers require a dedicated approach to drive the consumer from consideration to purchase.
Luxury purchases are rooted in emotion. For some, it’s about having time to spend with their loved ones. For others, it’s about pursuing a lifelong passion. Two travel companies may have the same offering, but the one that can make the luxury consumer feel something beyond the offer is likely to win the sale.
The way to go about this is to apply the luxury consumer persona to everything they do. Like with any demographic, luxury shoppers require a dedicated approach to drive the consumer from consideration to purchase. A good place to start is to get a solid understanding of the customer from key decision-makers within the brand. Work with sales, marketing, and management teams to develop the brand’s unique luxury persona.
This persona includes a number of things:
- Demographics: age, place of residence, gender, family status, net worth, source of income
- Media consumption preferences: typically used devices, apps, social media networks, sources of news and inspiration
- Psychographics: emotional motivators and blockers
- Nuances: cultural and traditional identifiers
The data for these personas is created with a combination of client first-party data, our own agency’s data, and market research. Once you have a persona set up for a particular market, it’s time to scale.
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