Where others have shrunk back, luxury brand marketers are capitalising on a buyers' market to move beyond the tried and tested mediums.
While keeping the overall environment and premium placement of the chosen medium in mind, luxury advertisers are making new rules. And they're maximising impact by integrating campaigns in as seamless a way as possible. All this has been made possible by the advertising slump, which has prodded media owners to devise more creative out-of-book ideas to enable a brand to immerse consumers in its communications.
Take Ferragamo as an example. A brand known for its almost evangelistic approach to premium positioning, recently sponsored a fashion show with Time Asia as part of an ad package. "Both Time and Fortune in Asia have seen a marked rise in interest and bookings from the luxury category as marketers increasingly realise that our readership comprise their target consumers, says London-based Philip Whitney, executive vice-president and global marketing officer, Time and Fortune Group International.
According to CMR International, adspend for the watch and luxury goods category in Asia had increased by about 10 per cent from about US$21.85 million in 2000 to US$24.1 million in 2001, presenting an opportunity to media owners across all sectors. Time Asia uses its Style Watch section to draw in the dollars, while Dow Jones' title The Asian Wall Street Journal has introduced the Personal Journal, which reports on personal finance, careers, travel and well-being. The AWSJ has seen revenue from the jewellery and watch category more than double over the last six years to US$1.72 million in 2001.
Sydney-based MindShare media manager, Jeynelle McLachlan, argues that news analysis and feature magazines and newspapers have an increasingly important role to play in the media mix for high-end fashion brands.
"This is for two reasons: firstly to provide reach among a broader group as the brand portfolio increases. For example a fashion brand may launch a timepiece or eyewear range that appeals to a broader market, she says.
"To reach this extended audience, there is a need for a broader selection of magazines that can provide a high-quality environment.
"Secondly, media habits are diversifying, hence the need to include non-fashion titles within the mix; rather than moving away from fashion titles it's more about inclusion of non-fashion titles."
However, the pressure is on media buyers to not only maintain and grow the impact of their client's product, but to do so in more cost effective ways. Hence today's buzzword is integration.
MindShare's buy for Land Rover's campaign in Australia consisted of sponsorship of Sex and the City, running 10-second billboards and 30-second spots to encourage viewers to buy the latest issue of Harpers Bazaar and enter the 'Win a Land Rover Freelander' competition. Freelander is positioned as the ultimate four-wheel drive for the stylish, 30-plus urban female - consistent with Harpers' target audience. In luxury brand marketing, it's the weight given to the different marketing activities that ultimately ensure the scale of a campaign's success - or failure.
Zenith Media Asia's CEO, Antony Young, notes: "Advertising is only one part of the mix and leveraging and integrating each channel is critical particularly in the current environment."
