Luxury brands will invest more in digital marketing to attract affluent audiences on the go, according to a survey of some 345 luxury goods marketers and their agencies conducted by Martini Media and Digiday. The findings suggest that “SiSoMo” (sight, sound, and motion) appeal of digital appears to be luring luxury dollars away from glossy print magazines and TV. More than two thirds of those polled said online video and mobile ad budgets will see increases in the coming year.
While luxury marketers currently devote less of their budgets to digital than do mass marketers (31% versus 37%), more than 40 percent of survey respondents say that luxury brands are accelerating faster into this realm. Rich media and social media also stand to benefit from estimated 10% digital budget increases.
Half of survey respondents think that online video advertising drives bricks-and-mortar purchases as well as TV does; 74% claim that online video is as effective as TV, if not more so, at enhancing brand favorability. Burberry, Chanel, Louis Vuitton, Jet Blue, Porsche, Rolex, and Tiffany were among brands cited as the luxury segment’s leaders in digital marketing.
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