Marketing luxury products can be difficult in a recession, but as economic circumstances begin to improve, you can once again begin to market to people’s wants, rather than their needs. The return of desire-based marketing is particularly good news for high-value goods manufacturers, such as those working in the technology sector, where many gadgets are about convenience, but are not necessarily essentials.
As technology marketing returns to its pre-recession formats, what can you focus on in order to make your brand and products really appeal to an ever-demanding consumer audience?
Although many technology products serve very specific functions, it is increasingly not their capabilities, but their appearance that really sells them to consumers.
Make sure your marketing message includes elements of style – whether your branding is the now-normal sleek black finish, high-gloss or more subtle matt effect, or a brightly coloured alternative which, setting stereotypes aside, is often used to market to the female audience.
Genuine innovations in style can also help you to win significant customer numbers; remember the first touchscreen smartphones, for instance, or the first portable electronic devices to automatically detect which way up they are facing, and rotate the screen to suit.
These are far from being essential components of the interface, but they have since made the shift from being perceived as gimmicks or luxuries, to being expected features in any new device.
Substance – or the lack of it – is still a major selling point, and the market is increasingly divided between those who want plenty of weight for their money, and those who want as little as possible.
If you’re in the ruggedised part of the market, make sure your advertising gets across to the customer just how tough your products are; how much shock they can withstand, how far you can drop them, how deep underwater they can go.
At the other end of the scale, manufacturers are continually looking for the thinnest, lightest products on the market, and if you believe your latest design sets a new precedent, it’s well worth shouting about.
From special offers to existing customer numbers, your sales figures make a compelling component in any future marketing campaign, so don’t be afraid to share them if you’re doing well.
Highlight how competitive your pricing is – or, if you’re the market leader, set your price point at an aspirational level in the knowledge that many early-adopters would willingly remortgage their house to buy your new gadget.
At the more budget end of the market, be careful not to price yourself out of making a sale by setting your RRP significantly above those of similar models.
Whichever end of the market you occupy, make the most of any special offers by extensively marketing your discount deals and upgrade options; even the most discerning of gadget gurus is likely to welcome a bargain, in the current climate of high-priced must-have models that come along at the rate of once or twice per year.