Luxury goods are a $285-billion industry and that number is expected to climb to $388B by 2025. There’s no shortage of interest in high-end, expensive products, services, and experiences. But how do luxe marketers stay ahead of their competitors to win the business of affluent customers? The answer: they use direct mail as their primary marketing tool. This tried-and-true (yet still evolving) industry is fit to win new customers with print marketing materials that make a strong statement coming out of the mailbox. Let’s learn how to sell expensive products quickly with direct mail.
How to Sell Expensive Products via Buyer Personas
Before you learn how to sell expensive products with direct mail as your main marketing tool, you need to know as much as possible about your audience. That means having a solid understanding of your buyer personas. This includes the basics, like demographics. But it also means knowing their pain points, goals, interests, and more. With precise buyer personas, you have clearly defined target customers. Why is it important? Over 70% of companies with well-documented buyer personas exceed revenue and lead generation goals.
Direct Mail as a Marketing Tool for Millennials, Gen Z, and Baby Boomers
Should you focus on one particular segment of the population, like millennials rather than baby boomers? The answer is a resounding maybe. Millennials and Generation Z do account for almost half the personal luxury goods market worldwide. And while that may very well direct your attention towards them, they shouldn’t be your only focus. Deloitte recently projected that there are 99-million millennials versus 77-million baby boomers in the luxury market. So don’t forget the boomers. Cultivate the millennials, but be aware that people in their late 50s to early 70s create more spending in the market right now. If you put all your focus on millennials, you’ll alienate your loyal, older buyers.
When you do spend your time marketing to millennials, pay attention to trends. The Deloitte Fashion and Luxury Report stated that “millennials were three times more likely to be driven by trend than older consumers.” They’re also more prone to purchasing services or immediate experiences over objects or goods.
Regardless of age, there’s one thing, in particular, to keep in mind about typical luxury buyers: their intentions are focused more on image and lifestyle than necessity. Sure, they may have a problem that your product can solve. But it’s more likely that they’re interested in your brand and what it represents—such as wealth, glamour, or power—than merely fixing a dilemma. By focusing on your ideal customers’ interests, you can adapt to their behaviors and serve their needs. The good news is that direct mail is ideally suited to serve luxe marketing strategies. Let’s start with the design of your mail piece.
How to Sell Expensive Products with Luxe Paper
Direct mail is a tactile experience—like opening a gift. It’s one of the reasons people perceive it as more personal than email. Plus, it’s also more memorable. According to a study by Canada Post, direct mail requires about 20% less cognitive effort to process than digital media. This indicates that it’s easier to understand and more memorable. Direct mail stimulates a sense of touch. So, based on your design strategy and the size dimensions of your mail piece, you have the ability to make your campaign stand out from not only digital channels, but also the rest of the envelopes and packages in people’s mailboxes.
Because your recipients can touch your mail, it gives you an additional method to appeal to them. It creates an emotional tone and inspires action, unlike many digital marketing channels.
Furthermore, a marketing tool like a piece of mail that looks good, is durable, and provides a strong offer, is more likely to remain on someone’s desk or kitchen counter for days or maybe even weeks. For example, a luxury car brand may send a sleek postcard with stunning images of its latest creation. But it’s the type of paper that’s used that makes all the difference. When it’s as beautiful as it is enticing, it creates a feeling of ambition or desire for potential customers. Just ask BMW. They know how to sell expensive products as well as any upscale brand.
BMW Touts the Ultimate Driving Experience with Luxe Postcard Campaign
BMW North America showcased its new 3 Series sedan with a direct mail campaign that featured beautiful images of the vehicle on a high-gloss, virtually indestructible postcard. The double-sided card was their marketing tool of choice—mailed in a plain white envelope with bold letters on the outside that stated:
You’re invited to the ultimate driving experience.
Inside, the printed mailer included a CTA that pushed traffic to local dealerships.
This is nothing new for BMW. They’ve issued successful direct mail campaigns in the past with a variety of products. For their 5 Series automobile, they took the postcard concept a step further and created a video mailer. Sure, it costs more to create a marketing tool like this, but when you’re creative with your campaigns, you’ll stand out from your competitors.
How to Sell Expensive Products Using Personalization
Another way to appeal to your luxe buyers is to personalize your direct mail campaigns. Approximately 80% of people are more likely to buy from a brand that provides a personalized experience. This strategy resonates with all consumers, not just upscale buyers. But it’s a strategy that bespoke businesses have used to appeal to their high-end audiences who are seeking more for their money.
Personalization takes on several forms. Naturally, using a person’s name is one of the most basic methods of personalizing your direct mail campaigns. Knowing their purchase history and where they’re located also helps. But it’s in the more advanced uses where personalization really shows its strength. This is hyper-personalization. Here, you learn as much as possible about your buyers, including their specific interests and how much they’re able to or willing to spend. Then you send them direct mail campaigns based on those preferences.
Customize Your Marketing Message
If you want to speak to people’s individual values and beliefs, it’s important to make them feel special. When you hyper-personalize your direct mail marketing messages, you can communicate how you align your values. Acknowledge them, explain them, and show your customers how much you appreciate their point of view. Then you can determine the ways your brand can serve their needs.
Align Your Marketing Strategy with Your Mission
When you’re learning how to sell expensive products, it’s important to communicate your brand’s purpose. Tell consumers about your mission, what you support, and what the greater intentions are for your company. People support brands that match their beliefs and values. Luxe consumers want you to meet their needs, but they also want to know the truth behind your brand and why you do what you do as a company.
How to Sell Expensive Products with Multichannel Marketing
We talked about direct mail’s benefits over digital marketing channels, but the truth is, there’s no need to separate the two. In fact, they work well together. Multichannel marketing campaigns that include direct mail have an almost 20% higher ROI than single-channel digital campaigns alone. Both direct mail and digital marketing have their advantages. But rather than turning your marketing strategy into a direct mail vs. digital marketing competition, think of the two as teammates. Then you can enjoy the rewards of combining them into a multichannel marketing strategy.
We discussed the importance of knowing your target audience. Well, the data you’ve collected about them—if you’ve gathered enough of it—will also tell you how they like to interact with you. This, in turn, will uncover how you can combine marketing channels to effectively serve their needs. Here are several ways you can combine direct mail with digital marketing channels as you learn how to sell expensive products.
- QR Code. Strategically place a QR code on your mailer and link it to a landing page. The code is easy for consumers to quickly scan. Plus, you can track all the important user data, like where they’re located, when they scanned the code, and all the vitals of the campaign’s performance.
- pURL. For a more personalized effect, give each recipient their own personalized URL. They’ll feel special and you’ll get the real-time results of their actions.
- Coupon code. Give each campaign its own coupon code so your support team can track the responses.
- Phone number. It may seem a bit old-school, but a lot of consumers still prefer to talk to a real person. Give them that opportunity with a dedicated phone number listed prominently on your mail piece.
Multichannel marketing gives consumers a variety of ways to make a purchase. When you combine direct mail campaigns with a physical store, website, social media accounts, etc., you’re maximizing your opportunities to connect with consumers.
How to Sell Expensive Products with MSP
If you want to learn how to sell expensive products fast, enlist the services of MSP as your marketing partner. MSP can help get your luxe direct mail campaigns moving quickly from start to finish. We’ll help you pick out the best quality paper and make sure your campaigns are printed and delivered quickly and efficiently. To speak with an MSP representative about direct mail as a luxury marketing tool, contact us and let’s get started.
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