When we refer to luxury brands, products and even services, you might wonder exactly what sets them apart. Simply put, luxury within e-commerce refers to something that is considered an indulgence rather than a necessity for the everyday shopper. Often, those in search of the latest clothing, styles, decorations or experiences will spend a significant amount of money to do so. Every year in the UK, 10.7 billion pounds is spent online on fashion alone. A huge proportion of this goes on luxury fashion.
If your brand sits within the luxury bracket, you probably already know the following information, but we’ll go over it just in case. Typically, your customers will likely earn less than you think. They are super savvy and shopping online by males is booming. Furthermore, 1 in 5 luxury purchases happen online, with 100% of shoppers browsing luxury brands owning a mobile. But that’s not all, 85% of luxury consumers use social media.
Based on these stats alone, there’s a solid argument for affiliate marketing for luxury brands. You might have ruled out affiliate marketing until now, particularly if you don’t want to offer discounts on any of your products. But what you might not have considered is that affiliate marketing goes far beyond discount codes and special offers. Affiliate marketing can work wonders for your brand positioning, particularly within the luxury e-commerce market.
Here are a few more stats that might just convince you:
- 2/3 social media users within the luxury market generate content at least once per month (think lavish holiday pictures and showcasing new purchases).
- For every brand post, you’ll find on average 10,000 consumer posts.
Now, you’re probably wondering exactly how affiliate marketing will work for your brand and we’re about to tell you.
- Magazines such as Vogue and Elle that appeal directly to your target market offering affiliate opportunities.
- a rise in loyalty sites and shoppers becoming savvier than ever.
- the pursuit for a luxury lifestyle favoured by many.
There’s never been a better time to get on board with affiliate marketing.
We understand that you likely have some concerns when it comes to affiliate marketing. With common fears including loss of control over your brand and discounts cheapening brands, it’s only natural to be apprehensive. The key to getting not only luxury affiliate marketing spot on but any affiliate strategy is to understand that content is king. If you want to achieve better brand positioning to eventually drive traffic and sales, you’ve got to nail your content. Allow the content to become an extension of your brand and its very values and that’s the hard part covered. Beyond content, you should consider where your content is based place for results, which is where we come in.
How can I offer value without discounts?
At Converzion Digital, we understand that every brand is different. We will create a tailored strategy which will dictate how we work with each type of affiliate in a way that best suits your brand. It may be that we choose not to work with any discount or incentive publishers at all. Or following a competitor analysis, we might determine that it is necessary. To position brand alongside competitors, an offer as simple as free delivery on orders over £100 rather than X% off will be more than enough to rival competitors and drive sales.
Granted there might have been a time where the typical luxury customer didn’t care about deal. Today, you can rest assured even those with high disposable income are looking to make their money go further. As for those that are stretching their budgets to achieve a luxury lifestyle, you can guarantee that want to achieve it in the most affordable way.
In a nutshell, affiliate marketing within luxury brands is on the rise: if you’re not doing it, then you’re already missing out. Today, luxury consumers are savvy, in search of a particular lifestyle and sometimes impulsive. So, take advantage of their behaviours through carefully thought out positioning that will drive results. There is a huge audience out there offering untapped potential. It’s time to get involved. If you’d like to discuss an affiliate marketing strategy for your brand that will ensure your reputation and values are intact, get in touch. When done correctly, the benefits of affiliate marketing are endless. Trust us to help you to share your visions and appeal to your audiences like never before.