Social media celebrities are very new to the digital world, yet they’re taking it by storm, quickly becoming the juries on various brands, products, lifestyles, and industries as a whole. Although most companies are leveraging this new method of marketing, some have proven to be slower than others.

Luxury brands have been one step behind, with more than 70% adopting this form of marketing in the past 6 to 12 months. Influencer marketing is partially designed to make products and services accessible, but is luxury meant to be accessible in the first place?

Many believe luxury was designed for the elite, the rich, the famous. With this in mind, the majority of luxury brands that have implemented influencer marketing in their promotional structures have found it hard to maintain a level of exclusivity and aspiration. To top it off, influencer prices have risen and luxury brands are prime targets for increased fees.

Despite the above, major luxury brands are catching up and looking for new ways to reach and engage their consumers. They’re also starting to recognize that despite their high-end consumers wanting to be exclusive, they’re also more likely to own the most powerful smartphones and mobile devices on the market, meaning they want to interact digitally and are also easier to reach.

However, luxury brands aren’t just working with influencers because they know their audience has a fancy smartphone. The reasons go much deeper than this and I’m going to share some of the most prominent and important ones.

It Refuels The Dream Value Of A Brand

Despite many saying they find it hard to maintain a level of exclusivity through influencer marketing, others have developed techniques to make it more so. The combination of the right influencer with select, organized, and engaging content can actually make a brand more luxurious.

Luxury brands are something consumers are in awe of, as they dream of owning these products. In order to keep the value of this dream alive, brands constantly have to remind consumers of their existence in new and creative ways.

With the majority of people across the world using social media, it seems obvious that the best way to refuel this dream is through content, and what better way to share this content than through an influential figure, right?

It Makes Luxury More Accessible

The question still stands: Should luxury be accessible to the masses in the first place? After all, isn’t the whole point of being a luxury brand is that you’re only available to a very specific audience?

Although many still refuse to succumb to these new forms of advertising, others are branching out, making their products accessible to consumers that have the means to buy them and don’t necessarily want to do so in-store.

Not only this, the majority of luxury brands are finding that working with the right influencer promotes the lifestyle that their brand encompasses, allowing them to reach the correct consumers. With this, they’re able to maintain a level of exclusivity whether their products are being promoted on Instagram, Facebook, or any other social channel.

It Creates Active And Engaged Communities Of Followers

Influencer marketing is a much more authentic way for brands to reach their audiences. That said, because it has grown at such an astronomical rate over the past year, consumers are becoming leery of which celebrity figure is pushing what product.

Research has now shown that the social influencers with the largest followings do not necessarily offer brands the best results. It could even be said that as a celebrity’s following grows, the engagement they have with their audience can decrease.

There is now a solution to this problem and it comes in the form of micro- and mid-tier influencers who have the ability to reach a much more specific and localized audience. These types of influencers are especially relevant to luxury brands, as they are focused on creating active and engaged communities of followers who respect, trust, and believe in them.

It Pushes Millennials Through The Sales Funnel More Quickly

Studies show that older generations rely much more heavily on traditional forms of advertising, such as television ads. On the other hand, millennials are more likely to rely on blogs and social media posts from “experts” or their peers, as they believe these are more authentic and trustworthy sources of information.

For luxury brands, it can be difficult to push consumers through the sales funnel because the purchasing decision is greater; that is, products are more expensive, resulting in more thought about whether or not to buy them.

If you can leverage an influencer who is trusted and respected among a predominantly millennial audience while encouraging user participation as a form of marketing, you’ll find it a lot easier to lead your audience to the path of purchase.

Taking it a step further, luxury brands are not only using influencers to push their audiences through their sales funnel but taking them directly to check out by using affiliate links. These links are the perfect way to link an image or blog post with specific items described to those products’ landing page, making a more seamless shift from an interested customer to an active buyer.

It Builds Global Appeal

Influencer marketing is not just about increasing sales, although that is often the end goal. Before that can happen, you have to build brand awareness, and influencers are able to stretch social media reach beyond a single marketing team’s abilities, no matter how hard they try.

As a luxury brand, using influencers can help build appeal on a global scale thanks to the likes of online fashion publications and bloggers. Influencer marketing campaigns that incorporate content writers, industry leaders, and thought provokers with video, user-generated content and contests are now among the most prominent in the industry.

It Has A Larger Focus On Revenue Generation

As we mentioned before, it can be more expensive for luxury brands to find the right influencers at the right price. As a result, it’s no surprise these brands are looking for a specific way to measure the return on their investment, something difficult to come by due to the sheer volume of different data now available from social platforms.

In lieu of this difficulty, luxury brands of all kinds are giving it their best shot, with the majority of them stating that revenue generation is one of the most important factors of success. This is expected to grow as social media channels become more trackable.

Finally…

Despite many finding it difficult to maintain their exclusive image, luxury brands worldwide are expected to continue to leverage influencer marketing in a variety of ways. With younger generations relying less and less on traditional advertising to make their buying decisions and more access to valuable data coming from social media platforms, this space is expected to continue to grow in the coming years.