Luxury Brand Strategy - Elements to Consider in a New Luxury Economy
Designing an effective luxury brand strategy can be a challenge; the idea of a luxury commodity is a double standard, in short, you are aiming to persuade people to invest in something they don’t really need, and that takes creativity, curation of identity, and apt communication to make it possible. With an effective luxury brand strategy you have the chance of making history, think of those exclusive names that paved the way for the elite market.
Rolex, Hermes, Louis Vuitton, Ferrari – these are a few of the brands that have emerged as leaders in luxury, and it was their luxury brand stories and strategies that helped to make them successful. Familiarizing yourself with the major components of a traditional luxury brand strategy can help you to start weaving your tale, to inspire you to plant your own seeds, and to tend to your garden so that it can flourish and grow.
brand personality
Personality is the hallmark of a strong luxury brand strategy because in the luxury niche you are gifting experiences rather than selling a product. Consumers aren’t inspired by the dull and emotionless exchange of paper for a product, it is tasteless, it is boring, and it is an everyday chore that leaves them listless. They want to be wooed, they want to hear stories, they want myths and magic to come alive, and they want to hold something in their hands that actually means something. You can paint a picture with words, history, art, and imagination, something that lingers like an echo in the mind of the consumer.
Think about La Prairie and you will see hear the whisper of stardust and see the spa nestled beneath the snowcapped Swiss Alps, think about Chanel and you hear the throaty feminine allure, you see the black and white purr of Paris and the flash of pearls against a little black dress. These are the elements of a great luxury brand personality; these are the stories that make you famous.
To learn more about luxury branding or to perfect your own brand personality, consider sign-up for our Luxury Branding & The Art of Luxury Storytelling online course.
influencer & celebrity endorsement
Remember when Nicole Kidman spritzed herself with Chanel Number 5, when Natalie Portman captured the red carpet essence of Dior and when David Beckham sported Armani. We are a culture of celebrity and influencers and for luxury brands to seek recognition and inspire awe sometimes it helps to cast a figure of well-known prestige to help boost your brand. People look up to celebrities and influencers as these can be the physical embodiment of individuals living the good life.
Those who have succeeded in their chosen field inspire others to follow in their footsteps, encourage ambition, and the want for emulation. Having a celebrity or influencer endorse your product can work wonders for brand recognition and bringing a trustworthy glow to your name, something that is indeed worth its weight in gold.
To learn more about the importance of celebrity and influencer endorsement in a luxury brand strategy, sign-up for our Luxury Touchpoints & The Experience of Luxury online course.
public relations
Perfect PR can be as smooth and beautiful as a glassy lake on a summer’s day, a stone can cast a ripple but in moments everything returns to a picture of pure class, tranquility, and seamless beauty. There is no place in the world where PR matters most than in the world of luxury. The whole deciding, purchasing and owning experience should be a ritual and one that makes the consumer feel as though they are the only person in the world.
Successful luxury brands will go beyond that extra mile; they will take their elite loyal customers to the moon and back. From something as simple as offering champagne and petit fours in store to calling your top clients personally to offer them a first look at the seasonal new range before it hits the shelves, these are things to keep consumers feeling drawn into the inner circle, a place that encourages belief and sales.
To learn more about the importance of public relations consider taking our Luxury Touchpoints & The Experience of Luxury online course.
premium pricing
The mantra behind luxury pricing is always a twofold discussion; there is the real price and there is a perceived price. An exceptional luxury brand strategy will be the driving force that glides the real price out of sight and replaces it with something that exudes a higher premium value. After all what is a Rolex other than cogs and springs? What is a Louis Vuitton other than leather and seams? These items are thousands of dollars all because of their name, history, and heritage.
If you want to turn heads when it comes to your luxury brand you need to first lay the foundations, then you build up the hype, then you lay out the price –a price that speaks volumes, that doesn’t bow down to the need to shift a product and make sales, a price that clings to its worth and doesn’t let go.
To learn more about the importance of premium pricing in a luxury brand strategy, take our New Luxury & The Values Redefining Luxury online course.
uniqueness & scarcity
An arctic fox tumbling in the blushing pink snow, a scrap of parchment paper said to be the dead sea scrolls, an antique diadem dull in gold but with rubies that glitter the darkest blood red – these are all things of mystery, things that arouse our curiosity and things of rarity. Premier luxury branding follows in the footsteps of rarity and tiptoes far from the beaten track.
Elite consumers’ desire things that are scarce in this world, things that make them feel unique, things that are one of a kind. If you want your product to be worth its weight in gold then you need to build a mystery around it, cloak it in rarity, and let the whispers build to create a buzz.
To learn more about the importance of uniqueness & scarcity, sign up for our New Luxury & The Values Redefining Luxury online course.
selective distribution
Selective distribution can save a brand, remember when Burberry nearly went down to the pan thanks to fake design items being passed out left, right and center? The brand was in a dire state, stumbling on broken hind legs, but it was the ability to reign back and make the scare and selective again that saved it from titanic disaster. The underscored truth is; that if everyone has your brand, then no one will want it.
In effect luxury branding goes against the grain, usual sales techniques is to make everyone hold your product in their hand; luxury branding is about making everyone want to hold your product in their hand, but only letting an elite few have the pleasure.
To learn more about the importance of selective distribution in a luxury brand strategy, sign up for our New Luxury & The Values Redefining Luxury online course.
pedigree & heritage
The sooner you understand the significance of heritage, the sooner your brand will succeed. Pedigree and heritage are the divine forces that will separate you from thousands of other companies competing on the modern day market. Use legends to inspire myth, fables to fascinate, and storytelling to build a history behind your name takes you out of the plastic consumer world and makes your product something that lives and breathes.
Many elite consumers would rather own a tea chest that traveled on a camel’s back along the silk route, or a broach that once belonged to their great-grandmother than a brand new designer piece without a story attached to its threads. Building brand heritage means tying the story of something with the exclusive appeal. Myths feed a brand, they are the pure spring water to a parched flower, something that will make it bloom in its beauty.
To learn more about the importance of pedigree & heritage, enroll in our New Luxury & The Values Redefining Luxury online course.
performance
The previous factors are all elements of building an innovative and inspiring strategy to help elevate your brand, but that doesn’t mean that performance should be overlooked. From the speed of a Ferrari to the silent gliding hand of a Rolex, the alluring feel of soft leather between your fingers, or the touch of cashmere. It’s not just the myth of these products, but it is the magic too.
If you build something beautiful, create something that shines, and deliver something that stands up true to its name and surpasses expectation, then that is already half the battle won. The rest is using the threads of storytelling, trust, awareness, market understanding, and public relations to weave a tapestry of sheer wonder.
To learn more about the importance of performance in a luxury brand strategy, sign up for our New Luxury & The Values Redefining Luxury online course.
Luxury Marketing – Focus Must be on Cities
Where would the luxury world be without the glittering glass-fronted stores on Paris’s Champs Elysees, the gold signs over New York’s prestigious Fifth Avenue and the Rolex and Christian Louboutin boutiques on Milan’s Via Monte Napoleone?
There seems to be no doubt that when it comes to making the luxury world work for your product the focus has to start in the cities.
The fast facts and figures are already scrawled across the internet telling us that no less than a staggering 85% of the luxury market growth will come from the world’s top 600 cities.
We all know the sprawling luxury metropolis names of London, New York, Paris, and Milan but some other major players will be emerging from the shadows and accounting for much of the growth before the calendar ticks over to 2025.
Unsurprisingly many of these cities can be found on the far eastern shores of China with Beijing, Hong Kong, Guangzhou, and Shenzhen leading the parade.
China is growing to become one of the leading consumers of luxury with a penchant for authentic brands and designer goods. According to Bain & Company, Chinese consumers spend over three times the amount abroad then they would spend at home.
China is set to drive half the growth in the luxury industry which is why it’s essential for brands to turn their eyes to the east.
The affluent Chinese market doesn’t only hold power over retail, sure elite Chinese travelers will love to swipe their platinum cards in the stores of Prada and Chanel but tastes are changing and they will want exclusive experiences outside of the shopping environment.
Wealthy Chinese households aren’t succumbing to our idea of a recession, in fact, they are only getting wealthier and the more they accumulate, the more they are looking to travel and the more they are looking to spend.
Yet even closer to western shores the dizzying height of spending seems to be led by countries like the USA, Italy, and France with tourist luxury spending adding its weight to the bulk of the figures.
One quick glimpse at the leading locations where tourists like to splurge takes us back to the cities.
From chic weekend shopping trips in New York to European jaunts to Paris, Milan, and London there’s no doubt that affluent visitors love to splash the cash in the major city hubs.
It’s also essential to note that many of the world’s billionaires are also entrepreneurs who globetrot for business.
The major financial haunts are often to be found in bustling cities and when these affluent city slickers step off their private jet they will be seeking high-end retail for spending within the city limits.
Different cities have different draws and this will impact a luxury brands choice when it comes to which city is the best to focus on.
The fashion capitals of New York, Paris and Milan clearly put their best foot forward when it comes to apparel yet skincare hits the top of the charts when it comes to Asia.
Investors should note that the mature cities of our present luxury scope aren’t slowing down, only there seem to be more emerging cities joining the trend.
Forbes has noted that there seems to be a stronger affiliation to keep strength and investment in more western cities from many luxury brands, yet the resources need to follow the growth.
Companies must be willing and ready to send the best of their best to the places where the growth patterns are emerging.
It also helps to have a firm footing with a good local partner or affiliate in the far-flung cities so that you don’t go charging in without understanding the hurdles of how to conduct business on foreign shores.
Megacities are the future of luxury and no longer is this limited to old-world Europe and the billion dollar mansions of the United States. China, the Middle East, Brazil, India all these places are on the rise and if luxury brands are successfully able to sweep their marketing towards these shores then we can all ride on the crest of this new world wave.
If you are interested in more details, download the McKinsey & Company report at http://mckinseyonmarketingandsales.com/sites/default/files/pdf/LuxuryScope.pdf
Naming a New Luxury Brand
One of the first things that comes to mind when creating a new luxury brand is "What's in the name?" Some brands opt to create a new word such as RueLaLa, use the founder's name such as Chanel or pick a combination of words that is SEO ready, such as Agence Luxury.
Since we are currently in the process of picking the name for a new luxury brand, we stumbled upon this great infographic and we simply wanted to share.
Naming a new luxury brand requires a lot of brainstorming sessions but one thing is for sure, it can not be taken lightly. The name is often the first impression, and often the last thing seen by a potential new client. If you want a few more heads to help you throughout your brainstorm sessions, give us a shout.
Affluent Luxury Consumer Segmentation
Not all affluent consumers are the same, but finding common characteristics that defines segments in this market can help us understand and better target this high value consumer base. Focusing on smaller homogeneous groups that think and behave in a similar fashion allows a brand to customize its offering, making them more relevant to the consumer. Nowadays, luxury is about providing a personable, customization experience to the end user.
Our friends at Agility Research and their team of data scientists and methodologists propose a new insightful segmentation solution - the Affluent Luxury Consumer Segmentation. Using data from syndicated studies conducted every quarter, they have identified four distinct affluent consumer profiles based on behaviour and psychographic attitudes in relation to purchasing luxury products from different categories.
The Affluent consumer audience can, therefore, be segmented as such:
“Exclusivity is a luxury only a premium brand can deliver.”
The Exclusivity Seeker
is a key segment for many high-end brands as they have considerable disposable income and spend liberally across multiple luxury categories. These consumers spend on luxury cosmetics and fashion and are especially likely to spend on travel. For this segment exclusivity is a luxury a premium brand can deliver. They are likely to be female, 40-49 years old, a Manager, Director, or VP in a public or private company.
“Luxury products that I buy on my travels elevate my social status.”
The Indulgent Traveler
buys luxury predominantly at airports or in cities they travel to. The travel indulger is also something of a socialite who is looking to elevate his social status by buying luxury products. He is likely to be a professional (e.g., doctor, lawyer, engineer), male , and 30-49 years of age. The Travel Indulger spends money on high-end accessories such as premium/ luxury watches and jewellery.
“ Online luxury does not phase me; I research and buy virtually.”
The Virtual Shopper
does not have an issue with luxury converging with the online world. She both researches and makes luxury purchases online. She values luxury goods for their higher quality and uniqueness. The virtual Citizen is predominantly a female professional who is 20-29 years old. Her wardrobe is likely to displays fashion pieces from Calvin Klein, Gucci, Coach, and/or Chanel.
“Luxury is great, but only at the right price online and tax-free.”
The Luxury Bargain Hunter
sees luxury goods desirable, but only at the right price. This segment goes online to search for luxury products and prefers to buy products tax free. The Luxury Bargain Hunter is likely to be a female aged 50-59, a professional, or a mid to high level manager. While they have the least spending power out of all the segments, the Luxury Bargain Hunters spend more than others on electronic gadgets and on their vehicle.
Seek a consultant at www.affluential.com to get a more comprehensive profile of each segment or to apply their unique segmentation solution to your projects.
10 Tools to Help With Creativity
These days there are many online tools that are designed to help you channel your creativity. The bonus is that these web-based services are easy to use and don’t require knowledge of complicated graphics programs. It couldn’t be simpler to design and create aesthetically beautiful images, products and design schemes. Here are 10 tools to help with creativity
1. Wordoid
Wordoid is an innovative site that helps you develop a catchy name for your new product, service, business enterprise or domain. All you do is enter in your specifications and Wordoid will generate several relevant names and their domain availability.
2. Tagul
Tagul enables you to create eye-catching word clouds. This service also enables you to print these word clouds on a range of products including postcards, mugs and clothing.
Color Scheme Designer does exactly what the name suggests: it helps you develop an effective color scheme based on any color that you select. There are a range of possible options, from complementary to analogic schemes.
4. Patternizer
Patternizer is a web tool that helps you to create colorful effective patterns with ease. The easy to use slide bars and menus enable you to design custom patterns to suit your preferences.
5. PicMonkey
PicMonkey provides fun and funky ways to edit your favorite photographs. Whether you want to touch up, edit, create a photo montage, or design an incredible image, this is the tool to use.
6. Easel.ly
Easel ly is a great way to design and create effective visual ideas which you can then share. From posters to charts and diagrams, this is a great way to give your ideas a visual format.
7. Piktochart
PiktoChart enables you to create eye-catching infographics. You can select from the wide range of available themes, and then edit any or all of the elements to customize your infographic.
8. ReciteThis
Recite This takes any quote and turns it into a visual creation. Simple type in the wording of your choice and select a wide range of backgrounds and formats.
9. PinWords
Pin Words helps you to pin words to your favorite images. It’s the simplest way to effectively add your personal stamp to photos and images to create something striking and beautiful.
10. Designspiration
Designspiration is a great way to share all visual sources of inspiration that lead to great design. You can search, save and organize an endless array of photographs, typography, illustrations and images.
Meet Katrina James: A Photographer with an Artistic Flair
Meet Katrina James, an expert par excellence with 12 years of experience in the field she loves – photography. A wish to change the world led her to take up environmental science but soon she understood that it was through the lens that she can really initiate a change – a change in the way people perceive the world. Be it product photography or portraits, nature or events, her works stand apart due to the sheer happiness they exude. Having worked with the big names in the luxury world, she shares her insight into what she loves the most – photography!
As a woman who grew up in Australia, where should our readers make sure to visit?
Australia is full of stunning scenery, the most memorable holiday till this day is when my parents took me out of school for a month and we took a trip through the outback, it was life changing to me and I think that’s where my curiosity for travel started, the landscape was breath taking. I would highly recommend a visit.
You are currently shooting events and music festivals around the world. Where are you off to next?
Next stop is Bali to photograph (and participate in) a yoga and meditation retreat in Ubud.
There are stunning portraits on your webpage. What do you do to help your subjects relax?
Thank you. I treat my portrait sessions as if I was going to meet a friend for coffee sometimes it can be 30 minutes before I even bring out my camera, I love people and hearing their stories is such a treat for me so I try and create a feeling where my subjects feel like they matter to me, which they very much do.
What photo shoot have you been most nervous for? What did you do to relax?
I was pretty nervous to photograph the Australian foreign minister Bob Carr when he visited Berlin, I got to spend the day following him around Berlin as he met with German politicians, it was a really fascinating experience for me as politics is very far away from my world and there was a lot of protocol I didn’t know anything about. To be honest I don’t think I relaxed until the day was over.
What is the most important question to ask a photographer that you are thinking of hiring?
I can’t think of one specific question, however I do think it is important to really brief your photographer and give them as much information as possible about what you are expecting of their photography.
What things should the photographer you hired be doing?
Before the event they should be talking to you, asking questions about what is important to you, is there a particular detail that means something to you? How do you plan to use the photographs?
At the event they should be enjoying themselves, they should be making sure they get all the required shots as well as shooting some creative or interesting shots.
What is the best way for a client to help you understand their brand?
It’s really important to talk to your photographer about where you have come from and your future goals, how you see the photos being used and who your audience are.
What makes marketing photography different from other photography that you have done?
Marketing photography is a little different because you need to capture a product or service in its best light. You need to use images to tell a clients story and to make a viewer want to be part of that story.
Can you give an example of how you can use photography to tell a story?
My imagery is all about stories and I hope that each image creates its own story. I recently shot a job for a jewellery designer where I captured images that told the story of her work day, from meeting with her team to spending the afternoon cruising on her boat, the images really help people to connect to you and your brand.
Since we love travel here, can you tell us about your favorite place to take pictures?
For the pure beauty of it Cape Town is a wonderful place to take photos, the light there is incredible it’s the kind of light that moves me to tears, the landscapes are such a contrast from beautiful beaches to dry sand plains and the people are just wonderful.
Get in touch with Katrina James via email at katrina@katrina-james.com or connect with her on Facebook or Twitter. Or, we could introduce you, just reach out to us!
Defining The Characteristics of Luxury Products
Branding a luxury product and creating an effective marketing strategy for a luxury brand, involves a unique type of strategy; one that begins with an in-depth understanding of the characteristics of luxury products. The luxury goods industry is significant and not only has substantial market value, but is also an industry that has experienced significant growth over the last 10 years. Typically, there are four main categories within the luxury market: fashion, perfumes and cosmetics, wines and spirits and watches and jewelry; however, other categories, such as automobiles, have also recently found their way into this industry.
Characterizing Luxury Products
Defining what makes a product a ‘luxury product’ can sometimes be difficult, but there are a few key characteristics that can help give a brand or product a luxury label. When it comes to the physical, or functional, components of luxury products, typically these items or brands, can be identified by certain associations tied to the product’s characteristics. The average luxury brand is associated with three characteristics: high price tag, high quality and aesthetics. Typically, luxury brands or products will attempt to associate their brand name with these three associations and to show their target consumers that their brand encompasses these three features. The average luxury brand also has a clear brand identity and signature, places emphasis on product integrity, and offers their products at a premium price.
Criteria and Specifications of Luxury Brands
When it comes to defining a line or a brand as a ‘luxury brand,’ it needs to meet certain specifications. Typically a brand can only be defined as ‘luxury,’ within the market, if it evokes the three aforementioned associations within the mind of consumers. Most experts will also define a luxury brand as one that is not distorted by other external influences. This includes the marketing efforts of competitors. When a brand is truly a luxury brand, its image cannot be tarnished by others.
When a brand has emerged as a true luxury brand, it will be a true master of influencing the perceptions of consumers. For example, a Rolex watch will not suddenly stop being defined as a luxury watch brand, because of a marketing effort by Citizen, as Rolex is a true luxury brand. This is why no other luxury watch brands even attempt to discredit the quality of Rolex watches in their marketing campaigns.
Building The Luxury Brand Image
It is important to remember that not all luxury products are created equal, there are different levels of luxury brands, ranging from entry level to elite level niche brands. Different types or levels of luxury brand items need to be communicated in different manners. Typically, well crafted marketing communications are considered to be the key to building the image of a luxury brand. When it comes to creating communications for luxury brands, as opposed to standard or premium brands, different types of communications are needed. This typically includes celebrity endorsements, positive public relations and promotional events. By highlighting the main defining characteristics of the luxury brand during these promotional communications, a positive luxury image can be crafted and a strong brand identity can be promoted.
The Difference Between Basic And Luxury Goods
Creating an effective branding strategy for luxury items presents a unique challenge. There is an inherent difference between the way experts promote a basic item and the way they promote luxury goods, and understanding this basic difference is essential to the success of any branding effort. The average luxury brand is timeless, offers selective ownership opportunities, and comes with high price, which can be difficult in terms of branding. No matter what the specific product may be, promoting a luxury brand over a basic brand typically involves a completely different approach to creating a strong brand reputation or personality.
Branding Towards the Right Target Audience
One of the first and most significant differences between basic and luxury goods in terms of branding, lies in the target audience the effort is being directed at. With basic goods, the target audience of consumers tends to be broad and the goods can be marketed to a larger array of potential buyers. Many times, with basic goods, a key branding approach lies in convincing audiences that anyone and everyone can and should be able to buy the product. However, with luxury brands, the approach is quite different, as exclusivity comes into play when establishing the target market of consumers. Instead of focusing on a broad group of potential buyers, luxury brands focus on marketing to the narrow percentage on individuals that can actually afford the product.
A Focus on Price
No matter what the item or the cost, price is an important defining feature when it comes to branding a product. With basic goods, typically lower prices are emphasized while higher price tags are justified with added features and benefits. However, with luxury brands, price takes on a different meaning, as it typically acts as a tool that once agains adds exclusivity to the product, or limits the access to the brand. A high price tag on a luxury item is seen as a positive instead of a potential deterrer, and many times is used when it comes to developing a memorable brand personality.
Product Communication and Distribution
The way in which messages are distributed and communicated differ when it comes to branding basic goods rather than promoting luxury goods. When branding a basic item, mass communication is often used to inform the public about the brand. A variety of channels are used to distribute the message as well, as the goal is to create widespread appeal. Typically messages that promote basic brands appeal both to the rational side of consumers as well as their emotions. However, with luxury brands, more selective communication methods are typically used.
Ultimately, the goal with communicating the benefits of a luxury brand lies in the desire to educate consumers, instead of informing them about the existence of the brand. The distribution of these messages is also more selective, as they are typically only sent out through exclusive channels.
Those who in charge of brand management for a luxury brand know that while every brand is different, branding a luxury product is all about creating the right story and capturing the essence of the product in a way that appeals to today’s luxury shopper.
Registering Dot Luxury Domains
The .Luxury is an all new generic domain extension which aims to speak directly with luxury buyers who are looking for high-end and ultra luxurious products. The new .luxury domain aims to help luxury brands further their status as luxury brands but we sincerely doubt it will make a difference.
Recent reports suggest that the ‘who’s-who’ of the luxury industry such as Gucci, Chanel, Bulgari and more are registering a dot luxury domains. This new .Luxury domain can, perhaps, bring the luxury industry’s fragmented online presence together and give it a common name and a centralized presence.
The organization responsible for the domain name launched a system that allowed generic top-level domain names in 2012. Initially, most top-level domains had only .com at the end of their URL. Now in the initial sunrise period of the .luxury registration, more than 500 luxury brands have already registered and secured their .luxury domain name. Presently, in the rush hour period, non-trademarked brands have applied for registration – for a premium price. If the domain name gets more than a single entry, it will be auctioned to the highest bidder. From September 19th, the .Luxury domain will be available to general public on a first-come-first-served basis.
The .Luxury Company is offering a dedicated platform for all luxury brands to collaborate and interact with one another. It has also laid down certain strict rules and regulations that prohibit and penalize counterfeiting and cyber squatting.
Regardless of the luxury product you deal in – haute couture clothes, exotic cars, superyachts, or stylish home furnishings – does a .Luxury website tell your consumers that you are the best at what you do? We don't think so. Luxury is about experience, customization and above all relationships. Having a .luxury at the end of your name does not make you luxury. But, like all other luxury brands out there, we might have to get on board with this new trend and secure our domain. It would be terrible for someone else to manage luxeinacity.luxury. I would simply have nightmares...
If you want to learn more in order to make up your own mind, visit http://www.dotluxury.com/.
Ten Reasons To Brand Your Superyacht
Your superyacht is the apogee of perfection, but then again, so are all the others luxury yachts of this world. So much care is given to a superyacht's design, amenities and layout that, although different in style, they tend to be somewhat flawless. We know; we have worked on several superyachts as crew. Therefore, we understand yachting from the inside out.
If you seek to generate revenue from your superyacht by chartering it a few times a year, you might consider hiring a charter management company to do all the legwork. This is great but don't forget to brand your superyacht in order to stand out from the fleet.
Just for fun, we have looked up hundreds of superyachts, ranging from 120' to 220' and up, and noticed one alarming fact: less than 10% of charter yachts have websites! Also, it seems like the average superyacht with a website hasn't updated it in many years, making their digital presence old school. Most luxury yachts don't use social media, and most don't do any type of digital marketing at all.
So, in case we have picked your curiosity and you want to learn more about branding your superyacht, read on.
Branding is what takes your superyacht from a stand-alone boat and turns it into a living entity. It gives your superyacht its unique personality, a personality with a compelling story. Branding also gives your superyacht a meaning, unifies its existence and creates an overall effect on your desired market, the Ultra-High-Net-Worth-Individual.
As a general rule, your brand is what everyone else says it is. By giving it a storyline, you help everyone understand that your superyacht is a lot more than its jet skis and sun beds.
To help you understand the reasons you need to brand you luxury yacht, here is our Top Ten Reasons to Brand Your Superyacht.
1.Tell a Story: There’s a great story behind every superyacht.
A superyacht is nothing without its crew and captain. They live, breathe & love every inch of “their” superyacht. You must, therefore, tell the story of your yacht through the eyes of its crew.
2. Evoke Emotions: Build the dream by showcasing the lifestyle.
As the saying goes, pictures are worth a thousand words, but what can be said about a video? Wouldn’t it be worth a million words? Get creative with your branding and engage potential guests from every angle. Don't focus so much on your superyacht's characteristics, put the emphasis on the overall charter experience.
3. Promise Service: The crew is a superyacht’s finest asset.
It’s not all about the number of jet skis, sun beds, or staterooms. A superyacht is the apogee of luxury living yet little is known about its impeccable service. Showcase the crew and you showcase the yacht.
4. Tailor Bespoke Retreats: Every yacht offers a unique escape.
A superyacht is the ultimate gateway to the finest destinations. Create itineraries that inspire action and stand out from the rest. No one wants to be given a "time to wake up". Engage your fans with your luxury living expertise.
5. Create Preference: Build loyalty and keep them coming back.
Provide key emotional experiences that patrons will want to enjoy time and again. Don’t just drop them off at the airport and forget them, keep them engaged for years to come.
6. Express Luxury: Verbalize the distinct style of your superyacht.
Family, Adults, Business; American, European or Asian. Your crew can do it all, but what is your superyacht's personality. Verbalize the tangible differences to attract the desired clientele.
7. Delight the Senses: Your chef is your secret ingredient.
Make them salivate and drool over your chef’s tantalizing dishes. Pair it with a delightful wine to enhance the overall effect. Get your chef active on land to introduce the yacht. Win them over with your delectable offering.
8. Entice Summertime Fun: Show your water sport skills to get them excited.
Nothing beats a day playing in the sun with the deck crew. They are experts in water sports and able teachers. Let them showcase their talent to inspire adventure.
9. Offer Uniqueness: It’s all in the details.
Now, let’s talk about the yacht’s unique offering. Its beach BBQs, its Jacuzzi and pool, its steam room and gym. Its staterooms and dining options. Remember, it’s not all about facts and numbers. It’s all in the packaging.
10. Building an Identity: One Yacht, One identity. No mistake should be made.
Potential patrons are exposed to a hundred or more superyachts before making their final chartering choice. The question is, how will they recall yours?
If you are considering branding your superyacht, don't hesitate to reach out to us for a one-on-one consultation. In the meantime, check MY Starfire's website and social media channels to see our expertise first hand.