7 Premium Footwear Digital Marketing Strategies to Boost Your Brand Value
You'd have to be living under a rock to not know that the luxury footwear market is booming. This is because more people have more disposable income available.
In 2019, the market was valued at USD 31.61 billion. The compound annual growth rate between 2020 and 2027 is expected to be 5.6%. Now, if that doesn't give you an idea of what is going on in the world, then I don't know what will...
According to CNBC LLC, there were 618,000 millennial millionaires in 2019 in the US. Within this group, close to 93% held a net wealth between USD 1 million to USD 2.5 million. This is why the demand for luxury footwear has been rising among millennials.
But what exactly is luxury footwear?
This footwear is known for its unique and enhanced qualities that include material, durability, and comfort, which is a major factor driving the growth of the market. Growing preference for attractive luxury footwear as a status symbol as well as the inclination of consumers towards flaunting various international brands are driving the product demand.
So, how do you promote high end footwear
Why Do Premium Footwear Brands Need Marketing?
To understand why marketing is important for such a niche market, let's start from the beginning.
In simple terms, “the marketing of luxury products is luxury marketing”, and luxury products are those which are desirable, and unique and help in building the social rapport of the consumer.
Luxury products were designed to stand out, and as a result, they also make you stand out. So, when it comes to luxury footwear, the need for this is rather obvious.
With so many different luxury brands available, you need to ensure that your bespoke product stands out. Your audience needs to know about your brand and what you stand for, a reputation needs to be built. From there, your products will become synonymous with the name, and the rest will fall into place. Asking yourself: How can I promote my shoe brand?”? Keep reading to find out.
7 Marketing Strategies for Premium Footwear Brands
While the strategies we share can be a great source of inspiration, it’s worth pointing out that the best strategies will always come from clarifying your goal, breaking it down, and brainstorming brand-specific solutions with your team.
1. Tell your brand story
Communicating the story behind your footwear range and explaining the values that define it is a fundamental part of effective luxury footwear marketing. By explaining what your brand represents or whatever value you stand by, you will find it more straightforward to develop advocacy for your brand.
2. Take advantage of visual social networks
When marketing luxury footwear, photographs are one of the best ways to evoke emotions that we connect with experiencing something exclusive. As such, visual social networks like Pinterest provide an opportunity for luxury brands to raise brand awareness and advocacy.
3. Use Facebook Ads to reach luxury shoppers
Facebook Ads are one of the most useful forms of digital advertising, due to the high level of segmentation and targeting that you can do.
4. Don’t underestimate the value of good SEO
Google is one of the most effective channels when it comes to helping luxury shoppers find products, learn more about brands, and make their purchases. If your site isn’t SEO-friendly, you’re letting a lot of potential traffic and revenue slip through your fingers.
5. Create aspirational content to educate customers
One of the most compelling ways to generate traffic and engagement is to create highly visual and aspirational content. While typical in many other niches, content marketing is massively underused even though it is particularly effective for luxury brands.
6. Create a feeling of exclusivity
Exclusivity is essential to luxury brand marketing as it maintains consumer desire through scarcity and rarity. If anyone could walk into Louis Vuitton and buy a handbag, Louis Vuitton would lose their appeal to those who wish to have something that others can’t get access to.
Exclusivity can be created online through private member groups, concierge services, or digitally delivered loyalty perks that are reserved specifically for previous customers.
7. Use the Metaverse
The world has gone digital and so has the shopping experience. By making use of the fashion metaverse, you customers can experience your products in larger than life glory without having to leave their homes.
Footwear Brands with Successful Marketing Strategies
When it comes to luxury footwear, especially in the world of marketing, two brands stand out: Adidas and Nike.
What is Nike's marketing strategy?
The Nike strategy is pretty simple but can become complex in its intricacies. They invest in developing the brand through emotional marketing and celebrity endorsements. They also create footwear featuring high-quality, market-leading technology and even go as far as to buy out competing sports brands.
What is Adidas ‘marketing strategy?
The brand focuses on designing, producing, and selling the best sports goods in the world. They spend 90% of their marketing budget on social media and digital campaigns. Adidas has also digitized the production process with 3D printing technology and robotics. They even curate personalized experiences for their consumers to build a long-term connection with them.
It’s Time to Put Your Best Foot Forward
When it comes to marketing luxury footwear or creating marketing plan for shoes bands, it’s all about focusing on the unique experience offered. Showcase what makes your brand different and why customers need to be interested in upgrading their lifestyle.
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