- Soared up the reach of campaign to 2X from initial plan and brought down the CPV by 50% of Industry Benchmark while achieving 130% higher views than expected!
Here are some insights on the Luxury industry, how luxury brands can overcome the industry’s biggest challenges with influencer marketing, measuring ROI impact, and Kofluence’s experience working with pioneers in the industry.
Luxury Brands Working to Scale campaigns with influencer marketing
Increased brand awareness
Influencer marketing can help luxury brands increase their brand awareness and reach a wider audience. By partnering with influencers who have a large following, luxury brands can increase visibility for their products and services.
Influencer marketing allows luxury brands to target specific demographics of consumers who are more likely to be interested in their products or services. This can be especially valuable for luxury brands that have a specific target market.
Building trust and credibility
Influencers are considered experts in their field and have built trust and credibility with their followers. By partnering with them, luxury brands can leverage this trust and credibility to increase consumer trust in their brand.
Social media influencers can help luxury brands increase engagement with their target audience through two-way communication and customer feedback.
By regularly working with influencers, luxury brands can build relationships with potential customers and show them what their brand is all about.
Influencers can help luxury brands to communicate their brand message in an authentic way that resonates with their target audience.
Here’s how luxury brands can scale campaigns with influencer marketing management
Develop a clear campaign plan
Before reaching out to influencers, develop a clear campaign plan that outlines your goals, budget, and expected outcomes. This will help ensure that your influencer marketing efforts are aligned with your overall business strategy.
Use Influencer marketing platform
Utilize influencer marketing platforms to streamline the process of identifying, reaching out to, and managing relationships with influencers.
Measure and analyze
Use tools to measure the performance of your influencer marketing campaign and analyze the data to see what's working and what's not. Use the information to improve your strategy and continue to focus on the influencers that bring the most value to your brand.
Continuously monitor the trends
Keep an eye on the trends in the influencer marketing landscape, and adapt your strategy accordingly.
How Luxury Brands Can Overcome The Industry’s Biggest Challenges with Influencer Marketing
Luxury industry faces several challenges but influencer marketing can be an effective tool for luxury brands to overcome these challenges
Changing consumer preferences
Luxury consumers are increasingly looking for unique and personalized experiences, rather than just owning luxury products. By partnering with influencers who align with their brand values and targeting, luxury brands can create a strong emotional connection with their target audience, and showcase their brand as a lifestyle, not just a product.
The luxury market is becoming increasingly crowded, with many new players entering the industry. Influencer marketing can help luxury brands stand out by creating unique and authentic content that resonates with their target audience.
The rise of E-Commerce
The increasing popularity of e-commerce has led to increased competition and price pressure for luxury brands. By using influencer marketing, luxury brands can create a sense of exclusivity and rarity that cannot be replicated by e-commerce platforms, and reach their target audience in a more personal way.
Luxury consumers are increasingly skeptical of traditional advertising and are looking for authenticity. Influencer marketing can help luxury brands build trust and credibility with their target audience by providing authentic and relatable content.
Measure the ROI Impact of Your Influencer Marketing in Luxury Brands
Effectiveness of an influence marketing campaign can help make data-driven decisions. Here are a few ways to measure the ROI impact of your influencer marketing campaigns:
Track website traffic
Use tools such as Google Analytics to track website traffic from influencer-generated content. This will help you determine how many people are visiting your site as a result of the influencer's content, and whether this traffic is leading to conversions.
Use tracking links to monitor the number of conversions (sales, sign-ups, etc.) that are generated from influencer-generated content. This will help you understand the direct impact of the campaign on your business.
Monitor social media metrics
Use tools such as Instagram Insights or Facebook Insights to monitor metrics such as engagement rates, reach, and click-through rates. This will help you understand the impact of the influencer's content on your social media presence.
Track brand mentions
Use tools such as Brand24 or Mention to track mentions of your brand across social media and the web. This will help you understand the impact of the influencer's content on your brand's visibility and reputation.
Use surveys to gather feedback from customers on their experiences with the influencer-generated content. This will help you understand the impact of the campaign on customer perceptions of your brand.
Identify the cost-per-acquisition (CPA)
CPA is a metric that calculates the cost of acquiring a new customer through a specific marketing channel. By measuring the CPA of influencer marketing campaigns, luxury brands can understand the cost-effectiveness of the campaign and make data-driven decisions.
How does our platform help in Luxury Brand Marketing?
Kofluence closely worked with India’s leading luxury brands
- Ultraviolette took the internet by storm by launching the F77 Space Edition with limited units that were sold out in less than 2 minutes while the Twitter campaign garnered over 4M impressions in just 4 hours!
- This Twitter campaign was Trending at #1 with hashtags #SpaceBoundF77 and #F77SpaceEdition, even beating the Asia Cup India team squad announcement with 3500+ influencer retweet amplification.
- By collaborating with 5000+ nano influencers, we not only generated engaging content around Dabur’s jingle but also achieved an impressive 123% higher CPM than the industry benchmark, effectively promoting not one, but two Dabur products : Dabur Vedic Tea and Dabur Honey!
- Through an iconic revival of Sunny Deol’s & popular late actor, Puneeth Raj Kumar, Kofluence helped Dunzo launched an ad campaign #TareekhPeTareekhChallenge garnering millions of views.
- We went live with 1000+ content and garnered a remarkable 9.3% engagement and 10M impressions.
- Kofluence and Flipkart came together to create #The25thHour campaign which generated intrigue with the question “What would you do if you had an extra hour in a day?”
- We divided the campaign over two phases, one intended to increase intrigue and the other to focus on the ‘Galanz’ product launch
- Unique UGC style content coupled with celeb involvement propelled the campaign, garnering over 15M Impressions.
- PharmEasy, India’s growing online pharmaceutical and healthcare service provider trusted Kofluence to amplify their marketing message of “Quick delivery made easy with PharmEasy”.
- We leveraged a winning combo of 30+ handpicked YouTube & Instagram content creators for this campaign.
- Our campaign catered to a high number of organic app installs for the brand.
Mirae Asset joined hands with Kofluence to amplify the newest addition to their product portfolio – mStock, with the aim of driving brand awareness and account openings on their platform
- To begin with, we leveraged core finance channels active on YouTube with a subscriber base of 100k+, to talk about the product features.
- We then activated Twitter Influencers, with an average follower base of 50k+, to throw light on their personal experience with the platform
- The campaign helped mStock gain significant traction among target audiences, resulting in a 10X increase in their overall app downloads
- Star Health Insurance seeked our infleuncer expertise in running their campaign #GiftStarHealth keeping reach and awareness as their objectives.
- The campaign was run during Diwali and New Year season and garnered a total of 14.5 million views which is 100% more than the proposed view count.
- This Kofluence facilitated campaign pulled in great traction while providing 2X ROI for the brand through better reach.
- One of India’s top luxury ethnic wear brands, Koskii partnered with Kofluence for increasing brand awareness over social media.
- We went live with 60 creators uploading reels doing the hookstep of a trending reel audio wearing iconic outfits from Koskii.
- The campaign garnered 6% engagement and 75% positive comments.
- Kofluence teamed up with Games24x7 and helped RummyCircle establish influencer marketing as an integral part of their marketing strategy towards both brand awareness and lead generation.
- With the help of the onboarded content creators, the team was able to get a significant amount of acquisitions and reduce the CPA considerably.
- The content went live across 18 states with 1000 creators.
- Hero MotoCorp wanted to explore influencer collaborations with Kofluence for better marketing penetration and signups.
- We crafted launch campaigns and test ride events to provide potential customers with an opportunity to experience the brand’s products in person.
- Successfully ran campaigns like #DirtBikeChallenge and #BoomWaliFeeling which generated over 45M reach.
- We deployed every category of creators from Nano to Mega, and drove maximum engagement both online and offline for Experience centre Test Drive events.
- Sugar Cosmetics wanted to launch their first-ever product collaboration with an exclusive Wonder Women range for women’s day campaign #EveryWomanIsAWonderWoman
- We activated 7,000+ Influencers for SUGAR Cosmetics with each of them spreading the message of women empowerment.
- The campaign’s contents achieved a great Comment to Like ratio of 8%
- Every creator shared inspiring stories & tagged 3 wonder women in their life to support the campaign’s messaging.
- Revital H partnered with Kofluence for Medtech influencer marketing aiming at creating brand awareness and driving conversion.
- Their multivitamin product was promoted by 28 influencers across YouTube
- Creators went live across 12 states with 7 content formats and generated good reach for the product impacting positIvely on sales.
INDmoney sought influencer expertise, tasking the team with maximizing their app install volumes, promoting users to log in as the 1st touchpoint and ultimately acquiring quality customers to invest in US stocks through their platform.
- The influencer marketing campaign activated 100+ creators across several tier 1 and metro cities, with a mix of different regional languages for a diversified impact.
- The outcome of the influencer marketing approach was that INDmoney could scale up their app registrations from 5% in month 1 to 30% in month 4. With 38M views on the 180+ content that went live, the brand could successfully bag 100K+ registrations through the campaign.