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Luxury Brands Fail To Segment And Target Customers Strategically In Email Marketing, Study Finds

Most luxury brands are not recognising the potential for effective email marketing, according to a new study produced by customer engagement specialist ContactLab in conjunction with Exane BNP Paribas .

The Dawn of Luxury CRM: Email do’s and don’ts study reveals how luxury brands can better engage with their customers through email.

It found Cartier and Burberry overall lead the field in terms of email marketing in both email proficiency and strategy (see figure below).

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Read more: http://www.forbes.com/sites/fionabriggs/2016/04/20/luxury-brands-fail-to-segment-and-target-customers-strategically-in-email-marketing-study-finds/#79588b527ddb

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Exclusive Evening with Esperanza

It’s our pleasure to invite you to meet “Esperanza” – the most valuable American diamond. This D color, Internally Flawless diamonds weighs 4.62 carats and was discovered in Crater of Diamonds State Park in Arkansas. Please log in for more details and to RSVP for this event on Thursday, January 14.

 

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Crystal Esprit’s Collection of Water Toys Means ‘Crystal Adventures’ No Longer Refer to Just Shore Excursions

When Crystal’s ultra-luxury yacht, Crystal Esprit, embarks on her maiden voyage next week, guests will be ushered into the new era of Crystal Cruises: one of new destinations and new ways to get there, one that caters to those passionately curious about the world and actively seeking adventure. While the yacht will sail to destinations throughout the Seychelles, Cosmopolitan Emirates, and Mediterranean that are most coveted for their outdoor opportunities and appeal to explorers of all persuasions, the vessel itself is outfitted for adventure, so luxury travelers need not limit themselves to what’s available shore-side.

Visit the Crystal Blog for a deeper dive into Crystal Esprit’s water toys

 

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What Financial Services can learn from Luxury Marketers

For an industry that targets the wealthy, Marketing in Financial Services, while well-crafted and professional, does not always connect with the target demographic.

This could be corrected if Financial Services studied the lessons learned by another group that successfully target the affluent: Luxury.

Much of financial marketing is very rational (performance rankings) and transactional (theme of the month) with a dollop of fear mixed in for good measure (Will you have enough to retire?).

Conversely, luxury marketing is invariably aspirational, positive and emotional.

How is it that two different industries can take such a diametric approach when speaking to the same target?

Here are five lessons we’ve learned from the Luxury category and how they apply to Financial Services.Continue reading

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“Integrated commerce” is retail’s newest buzz term — and Ralph Lauren is diving right in.

The brand will today unveil the Oak Fitting Room at its flagship on Fifth Avenue here, an interactive touchable mirror created by six-month-old tech startup Oak Labs that delivers advanced yet unobtrusive technology to the offline retail world. Shoppers can tap on the mirror to request a different size, corresponding items or to seek assistance from an associate.

“Omnichannel” is already antiquated, Healey Cypher, cofounder and chief executive officer of Oak Labs, said Tuesday morning before heading to the Polo store in Midtown to demo the smart fitting room. He prefers to use the words “integrated commerce” to describe the way Oak uses technology to enhance the in-store experience.Continue reading

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Can luxury brands hack their own growth?

When Olivier Rousteing of Balmain opened his Instagram account in 2012, he was among the first creative directors in luxury fashion to do so.

Rousteing’s “Balmain army” – a group of his personal friends who also happen to define the cultural zeitgeist of today – has become as known as his designs. This army includes, among others, Kanye West, Kim Kardashian, Gigi Hadid, Kendall Jenner, Rihanna and Justin Bieber. Their combined Instagram footprint: upward of 170 million, Chanel’s is 7.5 million.

But the who has the most Instagram followers game isn’t interesting in itself. What makes it interesting is that Balmain’s reach, cultural relevance and sales all kept consistently increasing since 2012 – all with a little traditional marketing investment. This is what makes Rousteing a growth hacker.

Growth hacking in luxury fashion refers to using data, content, customer relationship management (CRM), product development and existing social networks for growth. Smart brands in luxury also piggyback on models’ social graphs, booking for the runway shows those with a social followings of more than 1 million.Continue reading

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Burberry to Unify Brands Under One Label in Bid to Boost Appeal

“We believe this will make it simpler and more intuitive for our customer,” Bailey said. “This is certainly not cosmetic. It is a huge change.”

Bailey also unveiled plans to build a new manufacturing and weaving facility in Leeds, England. Work on the new site is due to begin next year and be completed by 2019 at an initial cost of 50 million pounds ($77 million). The facility, which will produce Burberry’s trenchcoats, will employ more than a thousand people, said Bailey, who is also chief creative officer.Continue reading