5 Practical Strategies to Market Your Luxury Furniture Brand

In order to create a profitable luxury furniture marketing strategy, you need to think about the bigger picture. It’s about more than simply creating beautiful furniture; it’s about reaching your target audience and building relationships with them.

Most shoppers see furniture as a long-term involvement, and you need to ensure that your merchandise is in front of the right people as and when they are looking for it. Your products need to make a positive first impression that lasts which doesn’t just happen overnight. A luxury furniture marketing strategy is your key to making potential customers better understand your company and help them commit to the brand.

Luxury furniture marketing strategies have evolved rapidly in recent years, accounting for the new advertising channels created via social media. With the industry poised to grow at a compound annual growth rate (CAGR) of four per cent by 2027, now is the time to hone your strategy and ensure you capitalise on this growth.

How The Furniture Industry Has Grown

The global luxury furniture market is projected to reach USD 28 billion by 2022. This is based on the estimated CAGR of 3.7% between 2015 and 2022. The boom has been brought on as a result of rapid urbanisation as well as an increase in the need for home furnishings.

For brands to stand out during this time, they need to rethink marketing for luxury brands and tailor their approach to the high-end furniture target audience. One of the furniture brands that has gotten this right has to be the numerous IKEA marketing campaign over the years.

A Furniture Marketing Strategy Matters

The furniture market is evolving as demographics shift, and consumers’ shopping habits change. Having super products and stellar service isn’t sufficient to compete. You need to be the pinnacle of thought at the right time and provide a shopping experience that compels consumers to complete the sale.

Having a complete approach for your business will assist you in deciding who your target market of furniture business is, how to build the experiences they crave, and where they crave them. It’s about how to cultivate relationships that lead to long-term engagement, and how to do all of this while managing your business. We’ve got some tips to help get started.

One of the furniture brands that know how to do it is IKEA. They have developed an AR app to help customers choose furniture that fits with their homes. So, for example, if someone were looking at a couch, they could easily add it to their space virtually to see if it works. This campaign has been hugely successful as it gives customers the freedom to carefully select their furniture pieces with the help of a leading furniture brand.

The possibilities of reaching out to your audience are endless, so to help you out, we’ve got some tips to help get started.

Luxury Furniture Target Audience

Defining your target audience is critical when putting together a marketing strategy for a furniture business. After all, you need to understand where your target audience is online in terms of the platforms they use, what sort of content they consume, and how to connect with them.

Today’s luxury brand target audience is between 25 and 44 years old. They make up 64 per cent of the overall audience. While you will still want to put your marketing efforts into targeting consumers in their 40s with more disposable income to spend, Generation Z is proving to be an excellent market for luxury furniture brands. Only 14 per cent of Gen Z’ers state they would never purchase luxury products.

5 Practical Strategies to Market your Luxury Furniture Brand

There are so many ways to kickstart your furniture marketing strategy, however, we have a simple list to help you get started.

Step 1: Understand your buyers

How you choose to market to your clients relies on who they are. While you would be happy to sell to anyone, the truth is that certain individuals will love your products a lot more than others. You’ll be more successful in your marketing efforts if you can pick out who those humans are.

If you’re not certain how to describe your principal customers, ask them! Conduct in-store and online questionnaires to help build a better picture of your ideal shopper, which includes their age, gender, profession, income, hobbies, and preferences. These statistics will help you determine which television and radio stations they tune into, which newspapers and magazines they read, and which social media platforms they use. All of this will help you tailor your approach.

Using your research, decide which social platforms your target audience use. You want to reach your customers where they already spend time, not the place you decide on to spend yours. If your goal includes millennials, Instagram is the place you’ll find them. If your target audience is older, you’re likely to find them on Facebook. People who are interested in decorating spend a lot of their time on Pinterest.

Post likable images and shareable videos that apply to your brand. Social media advertising is all about building a relationship between your enterprise and humans who share your values. Your goal is to engage with your audience, not try to force a sale.

Step 2: Build an impressive website

Up to 87 percent of customers search online before entering a store. This is why your site should be a core pillar of your marketing strategy. As a furniture seller, you’re in the enterprise of making stunning things. Use your site to show off your products in a manner that does them justice.

Make your merchandise look its best. Give them the rockstar treatment with superb pics that will encourage your visitors to invest in your brand. Showcase pieces, rooms, or decor themes. Make your website a location that customers come to for ideas, even if they are not looking to buy.

Step 3: Make sales

You understand who your clients are, and you have selected the methods to showcase your products. How do you translate that into increased sales?

Use social structures to promote sales well as tell your customers about any specific payment options you offer. Incentives like convenient layaway plans, generous return policies, or distinct reductions (wouldn’t that couch appear better with these tables?) may seal the deal or be a deal-breaker.

Research shows that retaining the customers you have costs less and generates more profits than obtaining new ones. Once a customer has purchased from you, give them a reason to continue supporting you.

Step 4: Interact with your audience

While bombarding customers has always been a marketing norm, customers are looking for experiences more than anything else. The reason IKEA’s AR campaign was such a success was that it gave customers the opportunity to interact with the brand. It gave them something to talk about and something that they could encourage others to try.

Think of ways that you can get your audience involved with your brand. You could challenge them to create their own mood board or share their favourite pieces with you. Give them something to talk about, and you’ll be surprised by the results.

Step 5: Manage your business, not a database

Websites, social media, email lists—all promoting dozens or even lots of products and editions throughout multiple product lines. That’s a lot of information to process. To use these facts whilst managing your business you need to adopt a product information management (PIM) platform.

PIM software helps businesses manage the data, content, and different items that are needed to market and promote products. PIMs also ensure that statistics are created for use and multichannel distribution.

Innovative Ideas for Furniture Businesses

When marketing your furniture business, it is all about giving customers something they cannot refuse without diluting the strength or luxuriousness of your brand. Here are some furniture marketing ideas:

Influencer marketing

Luxury furniture brands have a strong brand identity, which is why influencer marketing is ideal. Partnering up with someone who represents your brand can really help to take your presence to new heights. You will partner up with someone who enables you to tap into a readymade audience filled with people who fit your ideal buyer persona.

Display retargeting

Did you know that the average shopping cart abandonment rate is 69.57 per cent? That’s a lot of products that are not purchased! With display retargeting, you can display ads to consumers on other sites, showing them the products they have left in their shopping cart on your website, giving them a subtle reminder to purchase.

Lead magnets

A lead magnet is something free and enticing that will tempt shoppers to come to your luxury furniture store over the competition. Examples include downloadable catalogues, a free item, or coupons. These sorts of offers bring value and can drive new customers to your high-end furniture brand.

Best Furniture Marketing Campaign Example

If you’re looking for some inspiration on how to get luxury furniture marketing right, the Conran Shop is one of the best furniture advertising examples. The leading luxury retailer wanted to reach a younger audience, boosting brand awareness amongst millennials. So, they teamed up with Pinterest, creating 15 boards and 300 Pins.

From using printed Pincodes to take people to specific boards to installing windows with replicas of their Pinterest boards at their Michelin House store in Chelsea, London, they used many strategies to grab the attention of millennials.

On Pinterest alone, they reached an audience of 1.2 million, with 54 per cent being millennials.

5 Digital Marketing Strategies For Luxury Furniture Brands

Digital marketing is progressing at a rapid pace, and there are some incredibly exciting trends in this area. The best furniture marketing campaigns have embraced these digital advances. Let’s take a look at five great digital marketing strategies to help you get started:

1. Augmented reality marketing – Take a leap out of IKEA’s book with augmented reality marketing. This enables you to “try” different pieces of furniture at once, so you can see how different items look together. Not only does this attract more customers, but it encourages upselling too.
2. Reach luxury shoppers with Facebook Ads – Facebook Ads represent one of the most successful online marketing methods because of the high level of targeting and segmentation you can do. This is ideal for luxury furniture brands with highly specific target audiences.
3. Deliver a flawless luxury digital marketing experience across every touchpoint – The Internet is not only about convenience but enjoyment. The shopping process should be just as luxurious as your brand is.
4. Offer unique and localised experiences – People with money in the bank tend to crave unique and localised experiences, choosing brand experience ahead of material consumerism. Provide carefully curated and immersive events with unique localised experiences, using technology to set your events (whether virtual or in-person) apart.
5. Leverage Pinterest – Pinterest represents an excellent opportunity for luxury furniture brands to raise brand awareness and advocacy. Chanel shows us all how to ace Pinterest. They do not even have a Pinterest account, but with more than 1,244 products pinned on Pinterest per day on average, Chanel is one of the most pinned brands. This is all driven by their advocates.

When it comes to understanding and answering the question “How do you market high-end furniture?”, there are so many things you need to consider. We believe in the power of understanding your customer and reaching them wherever they may be. It’s up to you to do your research and ensure that you know exactly what this entails.

If you are in the Luxury Furniture Market and want to create and execute result-driven digital marketing strategies for your luxury furniture brands, get in touch with Appnova, a luxury branding agency to talk about your project!