Lifestyle Isn’t Everything, it is the Only Thing
Living wages have not increased in proportion to the discretionary income consumers have today. Yet another trend supporting the buying power of Millennials that are often waiting longer to start families. Whether you are living an independent lifestyle or coupled up, when you follow the dollar, we see that consumers are creating the lifestyle they want to live a priority. Brands must equally make their customer experience a priority, as each and every micro-moment can enhance (or jeopardize) their perception of the brand.
Whether a first impression comes from a friend or a tag on social media, knowing how to navigate the customer experience and positioning of the brand past the transaction is critical. Customers have a large reach, and if not carefully managed, their words can carry further than those you crafted. Feedback loops, scraping brand mentions for contextual data, and reputation management are just a few great tools to maintain a real-time pulse on what your customers are saying, providing some pretty insightful information.
The brands that continue to emerge and stay at the forefront are investing in their whole marketing stack and integrating it to be seamless for their customers. Retargeting customers with the same product they just purchased is not acceptable. With the use of resources and partners in the space, though, SoCap navigates its brands to be steps ahead of their customer’s experience, keeping them satisfied and loyal.
Meet Clients Where They’re At. Go to Them!
Right Place, Right Time – Marketing is all about intersecting your prospects at the right place and right time. For luxury brands, this could mean the right platform, too. From Houzz to Instagram, private online communities to strategic collaboration, understanding how to position the brand to naturally fit into and enhance customers’ reputation is all about lifestyle marketing. Ironically that is our surname.
Maxing Out Market Value – Positioned correctly and with enough social validation, luxury brands across industries are able to ask above-market demand. Only the consumer can define what exactly that cap is. Building the value, perceived or strategic, to validate your price is the essence of social capital – and we know a thing or two about that.
Reducing Acquisition Costs – With a finite group of customers who can afford your products, luxury brands historically spend a healthy margin on client acquisition. Bridging traditional tactics, online and data-driven insights, with human psychology, our team has exciting and progressive ways to lower your cost per prospect. With online outlets for collaboration and cross-marketing to other strategic partners, we can drive consumers more efficiently.
Reputation Drives Social and Financial Capital
Tag Heuer is one of our favorite examples of a brand that adapted to, and benefits from, elevating their social capital. They’ve sold more than ever in doing so. Having made only a few adjustments to their hardware and a massive facelift to their branding and positioning, the brand was able to sell their watches for well over 300% more than they were as a commodity. Translating the same concepts with brands that have the foundation, the people, and the target market is an exciting and rewarding project for us to co-create. Consumers want an experience that is memorable. Are you ready to give them one?