What are the key factors for a consumer oriented and customer engaging Instagram strategy for a lean luxury fashion brand start-up
Entering the luxury fashion industry as a new luxury fashion brand start-up raises various challenges. Many new brands fail by not considering customer needs or ways of binding customers to the brand while creating their marketing strategy. How can these failures be removed by using social media?
Afrodita Abdili, 2019
Bachelor Thesis, Start-up company
Betreuende Dozierende: Barbara Eisenbart, Rolf Meyer
Keywords: luxury fashion, start-up, customer engagement, customer satisfaction, Instagram
The luxury fashion brand start-up is offering tailor-made suits to women. One can assume, that needs for female suits arised by an ongoing global female shift. Despite offerings of female suits by competitors, companies focusing on producing qualitative suits for women are missing in the market.
In order to attract customers to buy a suit from the start-up instead of an established luxury fashion brand, the company needs to establish itself in the market. As today's customers are informing themselves through different online channels to satisfy their needs, customers need to be analyzed and taken into consideration while setting up a marketing strategy. Especially luxury fashion customers do rather enjoy unique experiences with the brand than caring about the price of the product.
The analysis of social media as a potential marketing channel consisted of a literature review in specific topics, a qualitative survey and a conclusion of combining both parts to a new marketing strategy.
In a first step, marketing theories of attracting customers by their needs and creating customer loyalty have been researched by investigating two specific theories. The customer value-driven marketing and customer engagement marketing theory have been complemented with literature examining the luxury fashion industry and different social media platforms and their purposes. Due to the purpose of Instagram as the second most used social media channel and the advantage of working with visual media and different possible engagement tools, an Instagram stratey was created. Findings have been put together with answers of a qualitative survey, to find out what customer needs are and how customers can and want to be engaged. Findings are discussed and a conclusion is made to sum up the key factors leading to a new Instagram strategy.
Results of the paper show, that a luxury fashion brand should establish a specific strategy for each key social media channel and not only focus on Instagram. Customers are active on various social media platforms and are currently not that engaged with luxury fashion brands. In order to take advantage of each key social media platform, a specific strategy for each channel should be created in further investigations. However, customers do actively use Instagram to get in touch with luxury fashion brands and would like to share their experiences or act as an ambassador for the brand.
The start-up benefits from having a defined a Instagram strategy, which can be implemented immediately to promote their luxury suits. The strategy focuses on attracting customers, sharing customer experiences, engaging customers and creating sustainable customer relationships.
Studiengang: Business Administration International Management (Bachelor)
Fachbereich der Arbeit: Strategie, Marketing & Kommunikation