We know that digital marketing is an essential area to include in a brand’s marketing strategy, and it seems that luxury brands are realizing it too. According to a new study by Martini Media, luxury brands plan to spend more on digital in the future. Half believe that growth will be greater than 10%. “Luxury marketers want much better ways to reach affluent consumers on the go,” said Martini Media CEO, Skip Brand.
The study found that rich media, social, mobile and video are the biggest digital growth areas for luxury brands. It also discovered that marketers are looking to spend more on digital, because it’s effective at driving favorability and online and in-store purchases.
How effective is it? Of those surveyed, 80% believe that digital is as effective or more effective at driving brand favorability, and 60% believe it is as effective at building brand awareness.
So, who do they think does the best job at digital marketing? BMW, Burberry, Chanel and Lexus topped the list, with Apple, Coach and Gucci also making the cut.