Currently, age demographics for shoppers who indulge in purchasing from luxury brands show that the people with the highest purchase intent are in the 30-39 age bracket, with 18-29 coming in at a very close second. With this comes a need to explore different ways of marketing these brands so they still appeal to older demographics but continue to capture the minds of younger cohorts, too. One way of doing this is by branching out into the realm of podcasting. Could it work well enough to catch on?
Luxury brand storytelling traditions – When we think of luxury brands, the images they conjure up are of heritage products with rich histories and traditions, and often, they have a natural aptitude for storytelling and presenting their ethos as it moves with the times. Think about the fashion couture house with decades of experience creating luxury items; it automatically engages with trust and authenticity. From this, there’s an organic crossover, which taps into consumers’ aspirations and feelings. Luxury brands will have the right blend of imagery, narratives, and immersive media campaigns to draw people in. However, the mediums used are very visual, beautifully crafted photographs, visual ad campaigns, etc. Podcasting can’t work for these brands, can it?
When podcasts and luxury brands collide – Of course, podcasts aren’t exactly new – coming out of the radio era, they’re a massive entertainment and marketing tool for businesses and audiences. To give some idea of how many people tune in currently, here’s an interesting stat: more than 144 million Americans listen to podcasts regularly, meaning they can’t be ignored, especially not by luxury brands. It’s how best they can utilize the medium that is the chief conundrum, as they’re so focused and reliant on information rather than exciting visuals. Many non-luxury brands have used podcasts to market their products over the years, but it’s only in the last twelve months that luxury brands have tapped into this form of media to reach new customers. It’s nothing if not adventurous from an industry that prides itself on strong visuals, intricate craftsmanship, and storytelling rather than snappy, instant audio (and the ubiquitous podcast dudebros). With its focus on audio, the luxury brand has to step away from its comfort zone and expand its marketing horizons to capture new ways to communicate about its products.
Luxury brand podcasting is still in its infancy – The industry appears to want to step on board and get involved in podcasting, but it faces challenges. The first of these is that the format can sometimes be repetitive and monotonous. It’s a medium with limits and little room for luxury brands to be creative and arty. There’s little artistic control apart from music and narration, and this means the format is often limited to one-person monologuing or panel discussions (with the dudebros, as mentioned earlier), which aren’t very useful for brand promotion. One way around this is to embrace what some podcasts already do: film the recording and bring out a video and audio format, which can be hosted on the brand’s website and other streaming video platforms. With this, there’s the added benefit of promoting the broadcast with film clips and interview snippets that showcase visual elements of luxury brands, too. One key factor is how luxury brands can get away from the monotony of the discussion format and use sounds to develop interest. Utilizing Autonomous Sensory Meridian Response (ASMR) is one way around this.
Luxury brands are already adept at doing this in their visual ad campaigns, but it’s defined as the state in which a subject gets pleasure from audio or visual stimuli. If you’ve seen those videos on YouTube of roaring log fires or the sound of rainfall, you’ll know what this is. Luxury brands can play with sound effects to enhance the interview format and make listeners feel more relaxed. For instance, if there was a podcast featuring a luxury brand, such as a vineyard, to create an atmosphere of friendliness and joy, sound effects might include the gentle hum of chatter around a table, food being served, and wine being poured into glasses.
Whilst podcast marketing in the luxury industry is still in its early stages, a lot can be done with the medium to make it more of a home for well-known luxury brands. There’s no denying that it’s a bit of a restrictive formula in some ways, but it can be overcome with the proper adaptation and development of different storytelling styles. In the long term, seeing how many within the industry think it’s worth investing in will be interesting.
Article edited by Alexander Elisab