Luxury Paid Social
Social works, in the main, with the use of paid media support. This is due to the fact that today all platforms (apart from TikTok) are commercially driven. In order for you to reach your audience you need to pay for boosting to hit your followers.
A typical organic post (outside of TikTok) will get around 0.5-3% reach of your audience. So the only way to effectively communicate with your customers in social channels is through the use of paid social media.
We look at the different goals you might have from boosting particular well-performing organic posts, through to continued paid media strategies to help drive specific revenue objectives, through to embedding product feeds into your channels to drive harder value from your estate.
We also consider cross-sell opportunities and will find look-a-likes from your CRM data. We segment this and understand the needs of the different audiences, from a creative, product, and content perspective.
We always do this through the lens of understanding the luxury consumer. We are not looking to bombard them or push them until they become frustrated with the activity, even if this does increase short-term sales. For luxury brands we’re keen to build the right long-term relationships on social by helping them understand our brand, ethics, history, events, and stories. By doing this we ensure that we build a broader and deeper relationship.
This means not always pushing for sales, but thinking about promoting content and solutions that they will find interesting and help ingrain our relationship digitally – very similar to what happens in store. This can work well to push exclusivity with the brand and build a loyal following of premium customers.
Luxury paid social FAQs
What channels are most effective for reaching HNW audiences via paid social?
The answer is, it depends… It depends on your brand, your goals, and your audience makeup. However, we approach all our projects in a way that drives the best response for the wealth audience.
This starts with the creative. We love short, snackable, polished videos that tell a brand story. This is also true if we’re telling sequential stories across multiple channels. We always look at creative through a digital lens rather than shoehorning inappropriate traditional formats into social.
We then work on the message framework. This might be a new brand positioning or product focus, and sometimes we work with social influencers, helping them to tell the right story within their own creative sphere.
We then think about the channel. How can we reach our audience in the most effective and targeted manner? Do we need multiple creative messages for the different audience sets we want to engage?
Lastly, the final piece of the puzzle is identifying the action we want the audience to take, whether that be to sign up to a newsletter or make a purchase. This then allows us to track the interaction and feed this back into our email and wider marketing activity.
For us, selecting the right social channel is always about what drives the best results rather than choosing a specific format or platform.
How will AI impact paid social media?
AI continues to be a hot topic of conversation. We know that digital algorithms are using AI to target audiences and we expect this to become even more effective as AI is developed.
With this in mind, it’s so important the human element is not lost when dictating strategy, creative proposition, and ensuring all creative is on-brand. This is never more true than when accessing a HNW audience.
As far as supporting the execution side using AI, at this stage, we believe people are still more important in creating campaign copy, video, and images due to the high standards of the wealth audiences we are looking to engage with.
Is Giant Leap a specialised luxury paid social media agency?
We are a performance agency at heart, and with this, we have extensive experience in paid social. All our team have over ten years experience across both agency and brand projects within the luxury stable, having worked on some of the biggest luxury global brand campaigns in the world.
What should you consider when appointing a paid luxury social media agency?
We believe in building long-term relationships with our partners. We have senior, experienced teams that will dictate strategy and execute campaigns to the highest standard. Moreover, our experience in luxury means we are strong brand guardians and understand the creative challenges that can occur for luxury brands.
How does paid social media differ when targeting HNW luxury audiences?
As you can imagine, a lot of what we do to target HNW audiences involves data. We have an expert data team who is experienced at finding HNW audiences using first party data, lookalikes, and pixel technology to build highly relevant audiences. We then combine this with ‘in market’ signals, behaviour, geo locations, and interests to ensure our campaigns are highly-targeted and executed globally.