Whether you’ve been hesitant to discount products or jump into a brand collaboration, we understand your doubts. Will it obscure my brand reputation? How the heck does collabing with another brand help ours? Don’t fret. If done cleverly and correctly, you can reach new audiences and gain new long-term customers.
You’ve heard us shout about this a lot, but it’s because we believe in it. Don’t be afraid to pivot your marketing strategies — especially in today’s ever-changing consumer world. Word of mouth, customer experience, and exclusive offers are just as important as advertising. If you’re hesitant on slashing product prices, these factors are a must-have to test out first.
Cosmetic retail giant, Keihl’s, relied on a no-advertising strategy for decades. HOW you ask? They created an unforgettable customer experience by offering extensive samples to customers, which gives way to lower-pressure sales. The skin and hair care company built a brand name for itself by offering a 100% money-back guarantee, staffing more than twice the industry average, and offering free consultations.
Giving attention to your customer’s experience is what helps build your brand and reputation. Offer something more than just a discount, such as a customer loyalty programme, interactive brand story, free samples, giveaways, a physical in-store experience, will always benefit you in the long run — get creative!
If you’re a high end or luxury retailer, and you’re eager to reach new audiences, try introducing a lower price point product or collection to capture more people into your brand’s ecosystem. You’ve likely already built up the brand reputation, so now it’s time to grow. Attracting this new customer will expand your brand’s audiences, and with the correct customer-first marketing tactics, you will build up the relationship, in hopes that this new audience will buy more from you in the future.
Start by setting aside a few new product ideas, at a lower price point to reel in new customers to your brand. Smaller items such as accessories with a lower price point can also attract admired customers who are interested in your brand, such as headwear, phone cases, wallets, jewellery, and so on. If you don’t already have an “accessories” style collection, now could be the time to start brainstorming.
Luxury jewellery brand, Swarovski, does an excellent job when it comes expanding beyond the norm of their customers. With their prestigious long-term history in the crystal and glass business, their customers range from top-end celebrities to the average hard-working consumer. From dazzling figurines and sculptures worth over £15,000, to jewellery just under £100, almost anyone can feel luxurious when buying a Swarovski item — and that’s the goal here, making it possible for everyone to feel a little taste of luxury.
The hottest thing to hit the consumer world in the past few years has been brand collaborations. Whether it’s with the iconic luxury-streetwear pairings, or celebrities boasting an army of fans, today’s collabs keep getting more innovatively creative by the drop.
More often we see a high end designer or brand collaborate with another popular brand that has a lower price point and totally different audience. From Adidas by Prada, Polaroid x Lacoste, to Karl Lagerfeld + Vans, brand collabs have skyrocketed over the past few years. By combining existing brand visions, collaborations have sought to offer fresh perspectives for brand supporters as well as evoke a sense of curiosity and uncertainty of what’s to come.
The viral TikTok trainspotter star, Francis Bourgeois, recently starred in Highsnobiety’s Gucci and The North Face’s latest collaboration video campaign, playing the role of a cheerful train conductor who leads a trainload of fashionably dressed holiday goers. His wholesome, enthusiastic attitude and smile when he’s watching a Class 43 HST train zoom by brings joy to anyone’s heart — 2.3 million hearts of TikTok followers.
Bourgeois is everything that Gucci is not. Some may say it’s off-brand – but that’s the whole point. It caught a lot of people’s attention and brought a special ambience to the campaign.
Will more brands follow in Highsnobiety’s footsteps and incorporate trending influencers from socials in their collaboration campaigns? Brand collabs are a lot of hard work, but if done right, can be a huge success.
That’s a wrap on our end — if you’re curious on expanding your potential new audiences in a creative way, feel free to give us a shout!