Premium and luxury brands depend on irrational consumer behaviour. Emotional desire outstrips any logical calculation of value – and the potential for profit is enormous. But you’ll never realise that potential if you shirk a crucial responsibility: to invest in delivering the emotional connection that desire is based on. Take your eye off the ball – in branding, product development or service – and the penalty will be swift.
It’s easy to get drawn into the optimisation and rationalisation debate. The growth of big data, analytics and predictive modelling have, without a doubt, delivered a step change in the marketing community. But when it comes to selling the products and services of premium and luxury brands data and logic is not enough; emotion needs to win through.
We all know that the most human of feelings: happiness. Prompted by an unexpected phone call from an old friend, or a surprise breakfast in bed from a child with a hand-drawn card is emotional gold. Of course that phone call or breakfast could have been on an arguably better day, or at a better time or even in a better place… But its spontaneity is at the root of the positive emotion.
The Journal of Neuroscience published a report in April 2015 that confirmed the human brain is wired to appreciate surprise. And premium and luxury brands are afforded the greatest privilege of any marketing-led organisation – an almost open invitation to enter the lives of their customers.
Coupled with millennials’ expectations for brands to host some form of entertainment*, it offers a rich territory to foster this most basic of human desires. Brands that create communications and experiences that light up consumers’ faces. Those that deliver clear messages, with a relevant narrative, are destined for success.
So when Bentley’s future male customers or existing customers pop into Pankhurst Barbers in London, their surprise at being sat in a barber’s chair hand crafted by Bentley Motors and being served a drink by Johnnie Walker always gets them talking. Read more here.
*Source Stylus Report Retail Beyond the Algorithm, 18th September 2015, Katie Baron