Luxury in a Digital Age: New Video Code of Conduct in Luxury Marketing
In recent years, big luxury brands have been shifting their ad spend to digital channels and we are now seeing print trends like the ‘September Issue’ emerge across social video. The insights were revealed today in the joint study, New Video Code of Conduct in Luxury Marketing, between OMD EMEA and Tubular Labs, uncovering social video insights across select sectors of the luxury industry.
“The exclusive and crafted nature of luxury brands meeting the open accessibility of online video was always going to be a challenge,” said Blake Cuthbert, Chief Digital Officer, OMD EMEA. “The most successful luxury brands have embraced the opportunity by allowing their followers to be truly immersed in their unique stories, building authenticity and equity in this redefined category.”
GETTING THE BACKSTAGE PASS – UNEDITED & UNFILTERED
Adverts and premium content currently deliver the lowest return in engagement compared to the volume uploaded. Mystery is no longer enough, consumers are craving more access into the world of luxury. It is the ‘real’ content – fashion shows, montages and behind the brand access – that is driving 74 per cent of all luxury video engagements. In response creative directors are taking the lead, opening up their world and sharing what’s happening behind the scenes in real-time.
THE NEW INFLUENCER AUTHORITY – AUTHENTICITY & ORIGINALITY
The rapid adoption of influencer strategies for categories from FMCG to luxury automobiles has also left consumers more sceptical of the true relationship between brands and influencers. As a result, only 16 luxury lifestyle influencers made The Sermo Digital Influencer Index cut. The balance brands need to strike is between humanising their influencers and still driving views and engagement with topical content, such as unboxing which accounted for 72 per cent of the luxury watch topics viewed in 2017.
PASSION HAS NO AGE – JUST COMMON GROUND
Nevertheless, how different audiences engage with luxury video content is unique. Looking specifically at the luxury watch category, as expected 73 per cent of YouTube engagement is driven by those under the age of 34. Perhaps surprising, luxury watch videos are also generating 18 per cent of their engagements from those over 55 years old, which is 14 times the YouTube average over the last 365 days.
THE COUTURE CONTENT SOLUTION – DYNAMICALLY SERVED BY AGE, INTEREST & BEHAVIOUR
Those under 35 years old focus on beauty and entertainment influencers, concentrating on how luxury brands make them look. While the older audience engages with influencers who concentrate on craftsmanship and in-depth luxury product reviews. There is an opportunity for luxury brands to deliver content solutions dynamically, serving more relevant videos based on data such as age, interest and behaviour.
“With the growth of online video, brands are increasingly leveraging video to create and distribute content online,” said Denis Crushell, VP of EMEA, Tubular Labs. “Results of the luxury industry and social video study confirm this with luxury brands accumulating over 500 million cross-platform views in Q4 2016 alone. It’s commendable when leading organisations like OMD recognise the importance of this transformation and take action to provide their clients with powerful actionable insights.”