from Luxury Daily
Out-of-home advertising – Luxury Memo special report
October 5, 2017
The traditional meaning of out-of-home advertising has significantly evolved, with luxury brands now creating unique high-end real-world experiences that draw in affluent consumers.
Experiential marketing is growing beyond just an interesting selling point to a vital component in connecting with an audience, as consumers value experience over everything. This need for unique experiences is being fostered by digital technology that allows for a multilayered adventure which spills into the physical world.
“Historically out-of-home and luxury was long considered a four-letter word,” said Fred Reffsin, President of brandGrowth, New York, a luxury brand-consultancy. “Too mass, poorly targeted, expensive with a low ROI and, most common, ‘it cheapens the brand.’
“These perceptions are outdated, naïve, shortsighted and indicate that some brands continue to fight retail’s challenges with obsolete thinking,” he said. “Out-of-home should be thought of as part of the luxury ecosystem and brands would be better served being media agnostic.
“Luxury has long been associated with the most glamorous places in the world, so why not use these places as a branding canvas. It allows brands to interact with its customers when, where and how they are engaged in the shopping experience. Think of London, Hong Kong, Dubai, United Arab Emirates and New York.”