Every industry has been disrupted by technology and pushed to evolve their marketing strategy to accommodate digital channels. And the luxury industry is no exception. For many years, the luxury market has dominated more traditional media types like glossy magazines, large billboards and in-store events. However, in recent years, studies from Google and McKinsey have shown that people spend a good amount of time researching luxury or high cost goods online before making their purchase.
There’s a ton of useful data and new creative options available to luxury brands that can make digital a viable channel for them to reach and engage prospects and customers. Take advantage of demographic, brand affinities, search intent, and past purchase data to find ideal customers and delight them with relevant, high-impact experiences that influence their purchases and drive up brand affinity and loyalty. The right platforms for luxury brands include a sleek, easy to use website, email and social marketing, and innovative digital advertising that span mobile and desktop.
A recent article in Luxury Daily written by Magnetic’s CEO James Green dives even deeper into how and why luxury brands need to focus on digital channels. Check it out to learn more.
Magnetic is an artificial intelligence company that uses machine learning to deliver smarter, faster, and more effective advertising. Our powerful AI platform continuously analyzes the attributes of over 350 million live user profiles alongside real-time inventory supply and bid opportunities to deliver highly performant audiences and profitable campaigns for our clients.