Ten golden rules to get luxe aura right

The billion-dollar question that worries brand custodians is, what is the right strategy to brand a luxury product or service? Let us see how luxury branding is different and take you through ten golden rules that need to be followed to make a luxury product or service withstand the test of time.

These tenets are - selling legacy; creating aspiration; creating exclusivity; customisation; understanding the history and culture of target geograph; EMOD - Every point of contact needs to be trained well to handle customers; keeping brand promise; making the ‘haves’ feel special; never forgetting the have-nots; targeted marketing and communicating of luxe stories.

When a Rolex advertisement showcases that JFK used to sport the watch, it sends a message to the target customers – you are a part of a legacy. It is this lure of legacy that brands like Louis Vuitton, Rolex, IWC and Montblanc have been successfully harnessing to get more and more customers. These watches or writing instruments or luggage charge a premium because of the legacy, which you can’t just buy. You have to be worth it. It is a very smart strategy to establish aspiration, which creates a pull towards a product or service - something that’s beyond the price tag and dazzles you. A brand needs to evoke aspiration, which, like legacy, gives a sense of exclusivity. A brand custodian needs to keep this key element in mind while crafting the brand story. It is the sense of being a part of an elite group that lures customers in hoards and helps them loosen their purse strings. If by buying a luxury product or service a customer gets a feeling that only money is the differential factor, then he or she will feel insecure that anyone will be allowed in this so-called ‘exclusive club’ if they have the moolah. This creates loyalty. 

In this global village every brand is looking at new and potent geographies like India or China. So it is imperative to start customising their offerings for these financially-significant markets. As I have said in my earlier columns, while ad-hoc efforts are made, there is no structured strategy in place to effectively tap these markets. So the debacle of Dolce & Gabbana in China will surely be repeated by other brands. The need of the hour is to develop a deeper understanding of the history and culture of these geographies. 

Another key element that makes a luxury brand click is EMOD or every moment of discipline. Every touch-point needs to be properly trained to handle clients. Customer experience is a key element that generates loyalty. A call centre executive or a store attendant can significantly contribute towards gaining a customer or losing him or her for good, generating good or bad publicity in the process. This is a critical area, especially in the age of social media. 

From a brand’s perspective, the most important golden rule is to keep your promise made to the customer. It is sacrosanct and under no circumstance can it be compromised, otherwise the integrity of the brand comes into question. 

While luxury brands need to make their Richie Rich customers or “haves” feel exclusive and pampered, a close eye must be kept on the masses that keep the coffers filled. The sheer volume of masstige sale helps every luxury brand worth its salt show the rosy numbers. While the big-ticket purchases are very important, the smaller-ticket buys make magic. So maintain a fine balance between these two groups of customers.

Finally, luxury branding is all about how the stories are told and to whom. The right mix of targeted marketing and communication of these brand stories that create aspiration, be it of legacy or of exclusivity, makes all the difference in the eyes of the customers. 

Let your quest for luxury continue. 

The writer is a luxury commentator and author of Dark Luxe and Decoding Luxe