Premium VS. Luxury Brands – What You Need to Know

Premium VS. Luxury Brands – What You Need to Know

Premium or Luxury?

From 13 to 15 May, Sofia was а host to WebIt Festival.Europe and our team again did not miss the opportunity to be part of the event.

 

There were many interesting topics related to hot topics such as:

• Digital economy
• Digital marketing
• Blockchain technologies
• Cyber protection
• Digital entertainment and media
And much more

One of them was the topic of Premium vs. Luxury brands.

If you wonder what’s the difference between luxury and premium brands, keep on reading 🙂

For many consumers, the distinction between premium and luxury goods is unclear, but there are clear differences for branding purposes. A common misconception is that luxury goods are more expensive than premium ones, but the price does not determine luxury. It is true that in most cases luxury goods are more expensive, but luxury is determined by the history of the brand, the scarcity of the goods and the prestige of the brand.

On the other hand, first-class (premium) goods are determined by the price-quality ratio. The consumer thinks it is worth paying a premium for a premium brand because of the quality of the product, while the luxury brands usually have a price that far exceeds their actual value.

The difference in building a brand strategy between the two types of goods is quite large. It would be a mistake for any type of brand to simulate the marketing and brand strategy of the other – premium brands can`t become luxury brands simply by raising their commodity prices. And luxury brands should not try to expand their attractiveness into a premium market or they risk losing their exclusivity, which makes them more attractive.

Do you have a favorite brand?

Dimitar
Digital Marketing Specialist
ExpandX Marketing & Web

 

By the way, did you DOWNLOAD our

FREE Marketing Strategies Booklet?

Download HERE

ExpandX | Marketing & Web

 

 

Do you have questions or you want to learn more about the topic ?

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5 Key Elements of Digital Marketing

5 Key Elements of Digital Marketing

HEY!

Are you aware of the most important trends and elements in Digital Marketing?

Today, more and more businesses recognize the power and effect of digital marketing, and that it has long outpaced traditional marketing strategies and tools.

In order to achieve good business results, it is important not only to keep up with digital marketing trends but also to create an effective, structured and well-thought-out strategy based on a pre-market analysis, audiences, competition in the sector in which your business operates.

Here are the 5 key elements that are important to your business and which will help and navigate your business on the road to success.

 

1. BUILDING A WEBSITE

 

Creating a website for your business (which engages, informs, gives value, and generates sales) is the first important step to put your brand online, as this is where the traffic from all marketing campaigns leads to.

It has to be well-designed, user-friendly, optimized from UX, UI, and quality content and be a mirror of your brand and the message you want to convey through it and especially to add value for the users.

 

2. BUILDING A STRONG BRAND

 

As we have repeatedly said – the brand is recognition, trust and can change the way people perceive your business. That is why it is very important what brand strategy and messages you choose for your business.

If you want to know more about brand strategy in business, read our article on the topic.

 

3. BUILDING AN ONLINE PRESENCE

 

The growing influence of social networks is of great importance, so the presence of your business there is a must. Here, however, it is important for every business to analyze and recognize which are the most appropriate channels and platforms for advertising your business. The presence on Facebook and Google will help you reach the right people and expand your business. Instagram is gaining momentum in online marketing, and social networks such as LinkedIn and Xing are very relevant if your business is B2C or B2B oriented and looking for business contacts.

4. BUILDING A MARKETING STRATEGY

 

Marketing strategy or, in other words, this is the plan designed to achieve the core business and marketing goals and the tools for achieving them.

The main idea of ​​the marketing strategy is to put ourselves in the shoes of the people we want to reach. Moreover, to analyze each stage of the buyer’s journey, so that we will engage him the most, so that he asks for more information and eventually lead us, as a business, to the ultimate goal we have set.

 

Here, it is important to determine the overall marketing goal of your campaign(s), build your Buyer Personas accounts and overall marketing funnel management. If all these elements are built, applied, managed, analyzed and developed properly, they will bring the desired results. Setting a timeframe for realizing and measuring results is also very important.

 

5. UNDERSTANDING THE POWER OF SEO

 

How often when you need information about something the first thing to do is search on Google?

This is exactly what consumers do when they try to find information about a particular product or service they need.

 

That’s why it’s very important to analyze and know the 5 most-used keywords your business searches for in search engines. This will allow you to optimize the content you create on your website and on all social networks, platforms, and directories your business is present on.

 

Plus, to target the audience that is most likely to be interested in your business by using the right set of Google Keywords.

 

In conclusion, in our agency, we always recommend to our clients, regardless of what channels and tools they use in their digital strategy, to always follow the fundamental rules, steps, and strategies that are part of the marketing mix and marketing as a whole.

And of course, above all, strive to create and deliver messages, emotions, and feelings that will not only create a strong brand and value for the client but will also make the magic called digital marketing successful and profitable for your business!

Share your ideas and experience in the comments below!

  

 

Darina
Digital Marketing Specialist
ExpandX Marketing

 

 

By the way, did you DOWNLOAD our

FREE Marketing Strategies Booklet?

Download HERE

ExpandX | Marketing & Web

 

 

HAVE QUESTIONS OR WANT TO KNOW MORE?

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ExpandX Marketing & Web is a Clutch-Verified Digital Marketing Agency in Bulgaria

ExpandX Marketing & Web is a Clutch-Verified Digital Marketing Agency in Bulgaria

Since 2015, we’ve used a wide array of evolving marketing techniques to develop quality brand campaigns for our clients. We’re enthusiastic about our work, and we want you to be enthusiastic about our work, too. That’s why we joined Clutch, a B2B ratings and reviews program—so you can be confident in the quality of our digital marketing expertise.

Based in Washington, D.C., Clutch is an information platform that gathers research of service providers across numerous industries. Their site is designed to help prospective buyers choose their next business partner. Clutch conducts a multifaceted evaluation: they account for each company’s industry expertise, social media presence, and former client projects when compiling their lists of the best companies worldwide. We’re proud to announce that our company’s excellence shines brightly under Clutch’s analytical lens. We’ve ranked upon their list of top digital marketing and social media marketing agencies in Bulgaria in 2019.

The most impressive part of Clutch’s evaluation is former client reviews. Clutch’s analysts contacted our former clients and interviewed them to hear about the quality of our work. See what our former clients have said so far:

 

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We, of course, want to thank our former clients for graciously providing reviews of our work and for being such supportive business partners over the years. To hear their positive feedback motivates us to continue doing what we love.

In addition, we’ve achieved a place on Clutch’s two sister websites: The Manifest and Visual Objects. On the Manifest, we’re featured on their list of the best advertising agencies in Bulgaria in 2019. The Manifest is a guide for business buyers that lists top companies using information from Clutch, providing another way for prospective clients to reach us. On Visual Objects, visual examples of our development work is displayed on their list of digital marketing firms worldwide. Visual Objects allows business buyers to view service providers’ work portfolios and visualize past projects.

With these three resources at your disposal, we hope you can be confident about relying on us for your digital marketing needs. Reach out to us to start your next successful project.

 

 

THE X TEAM 
ExpandX Marketing & Web

 

 

By the way, did you DOWNLOAD our

FREE Marketing Strategies Booklet?

Download HERE

ExpandX | Marketing & Web

 

 

HAVE QUESTIONS OR WANT TO KNOW MORE?

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The Secret of User-generated Content

The Secret of User-generated Content

Have you ever wondered how big companies plan and create their marketing content?

Today, I will show you why a brand such as Doritos is more successful than other brands in the same industry. You will discover how user-generated content could play the role of a huge engagement booster. And how listening to your audience can bring your brand a number of benefits.

As an illustration, I`ll analyze Doritos` marketing strategy using the AIDA model which stands for Awareness / Interest / Desire / Action. I`ll show you how the brand applies its strategy through the different stages of the model.

In fact, ‘Crash the Super Bowl’ campaign launched by Doritos was perhaps their most successful marketing campaign as it reached millions of people. But how did they do that?

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For this purpose, Doritos makes something really simple and completely free. The brand asks its users to submit their own interpretation of what the products and the brand mean to them in a 30-second video. Ten ads make it to the final where the fans have the chance to vote for their winner in the social channels where usually an incredible reward awaits. For instance, the 2015 winner got a job at Universal Studios, $1 million dollars and his commercial shown during the Super Bowl.

In other words, Doritos gets a unique look over their customers` language, preferences, personalities, pain points, wants and needs.

 

1. AWARENESS STAGE

 

Indeed, Doritos has increased its popularity through the social media channels (Twitter, Instagram, Facebook, YouTube, Website) generating thousands of likes, comments and shares. The brand managed to attract millions of people through such a simple campaign.

 

2. INTEREST STAGE

 

Do you know how Doritos encourage its fans to start researching further? Simply, by offering them the above-mentioned benefits. It`s quite easy, isn`t it? And the outcome of this strategy is marvellous. This co-creation content strategy has really worked for the brand creating brand value and positive reputation for them.

3. DESIRE STAGE

 

In fact, the brand uses customer-generated content marketing which is totally organic. Rather than paying to an agency, Doritos chose their fans as a source of advertising. The brand doesn`t just create the next boring ad. It uses their customers building an emotional connection with them and making this challenge personal. This is the phase where the fans move from ‘I like it’ to ‘I want it’.

4. ACTION STAGE

 

During this last stage, users are actively engaging with the brand. They are involved in promoting Doritos by sharing their videos on YouTube and the other Social Media channels.

 

The lifecycle of their video campaign continues before and after the event. Doritos builds a relationship in a communicative human way. Thus, they build trust and loyalty in their customers, which are 2 very must have goals in your digital marketing strategy.

So, by using a diversity of social media channels and user-generated content, Doritos managed to create a community of followers building a strong relationship with them. In their Inbound Marketing strategy, the brand shows that the customers are highly valuable for them.

How do you build relations with the clients in your business?

  

 

Dimitar
Digital Marketing Specialist
ExpandX Marketing

 

 

By the way, did you DOWNLOAD our

FREE Marketing Strategies Booklet?

Download HERE

ExpandX | Marketing & Web

 

 

HAVE QUESTIONS OR WANT TO KNOW MORE?

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The 5 Ultimate Steps to Create a Successful Brand

The 5 Ultimate Steps to Create a Successful Brand

HEY!

Currently at the office we’ve been loving to sip on a cup of hot and delicious tea to warm us up during the winter time.

Especially, one particular brand you may or may not have heard of – Pukka Herbs tea ! It’s a UK-based organic herbal tea and supplement company and it is a great example of how a smart branding strategy will help you market your product or service.

So, make a cup of tea and see which are the 5 crucial points to follow when creating and marketing your brand.

ENJOY !

 

1. BRANDING

 

As we already discussed in our previous blog post, brand identity is absolutely critical to a business. It’s the bundle of thoughts, feelings, actions and impulses that people have when they hear about your brand.

And Pukka is absolutely aware of that as it manages to position on the market as a premium tea brand striving through the incredible power of plants to inspire you to live a more conscious life.

 

2. STORYTELLING

 

Emotional branding and storytelling in marketing are a powerful way to breathe life into your brand. By giving your products and services an identity, by capturing and sharing different stories aligned with your products, you can take your target audience on a journey not only use your product but rather experience it.

Which brings us again to the point that good branding is all about forming a personal connection with your customers. And don’t forget that company stories must be authentic, creative and inspirational.

Pukka Herbs has managed to incorporate this tactics in their brand and mission statement by saying that every cup of their tea has its own story and that it is a whole journey to create their delicious teas.

 

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3.LIFESTYLE MARKETING

 

The brand has successfully jumped on the bandwagon during the last few years for a healthier lifestyle. People are becoming more aware of what they eat and drink, so through people’s emotions and impulses the tea brand has positioned itself as a sustainable brand using only organic ingredients to reduce carbon footprint – one cup of tea at a time.

  

4. DIMENSIONAL MARKETING: NEW RULES IN THE DIGITAL ERA

 

In simpler times, the four Ps—product, price, promotion, and place—served us well as the fundamental elements of marketing. Today, many companies are adding a whole new set of dimensions—engagement, connectivity, data, and technology or in other words to market to the individual instead of the masses and to create personalized experiences.

Together, these new dimensions lead us to the era of dimensional marketing.

Pukka is a great example of how dimensional marketing works by creating a personal connection with its customers and leaving a positive attitude and thoughts within them.

That’s how I learned about Pukka and that’s how you now know about the brand !
  

 

 

5. EMOTIONS AND FEELINGS

 

The bottom line of all this is how the superstar in this whole marketing story, his Majesty the Client, will get his emotions and feelings engaged in a long-lasting, positive and unique experience around the sublime privilege and satisfaction to have had the opportunity of sipping Pukka sips.

Can you say the same for your business ?

 

Darina
Digital Marketing Specialist
ExpandX Marketing

 

 

By the way did you DOWNLOAD our

FREE Marketing Strategies Booklet ?

Download HERE

ExpandX | Marketing & Web

 

 

HAVE QUESTIONS OR WANT TO KNOW MORE?

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