2018_11_28_CS_utrera
Pedro J. Utrera, director of speech of Louis Vuitton: "What sets us apart is 'making people fall in love' with us, not buying them".
The manager of Communication of Louis Vuitton Moët Hennessy (LVMH) explains to students of the University of Navarra what are the keys to the success of the luxury brand.
What determines that we buy one product and not another? What do brands convey to us, and are they seen in the same way by different generations? Pedro J. Utrera, director Communications at LVMH (Louis Vuitton Moët Hennessy), addressed these and other questions in a session of the 'Skill Training Program' organized by Career Services at the School Economics of the University of Navarra.
The traditional way of communicating from the world of luxury, based on storytelling and storytelling and emotional connection, is increasingly being transferred to the mass market. This is partly due to the demand of new generations of customers.
However, Spanish brands have focused for decades on three "mantras": product, price and advertising. "If you stood out in these three aspects everything was going to work. But that is not the case today. The product has to have quality, but it is no longer a differentiating factor, because as soon as you launch something innovative your competitors take five minutes to copy you and even improve on you. To be like everyone else is to be nobody," says Pedro J. Utrera.
So what is the factor that differentiates one brand from another today? Communication. "It is what allows you to express your brand attributes, create a positioning, create an image in the consumer's mind and connect emotionally with them," he adds. Brands seek to make their customers fall in love and turn them into fans and, to achieve this, they work to ensure that the heart takes precedence over the brain in their decisions. "People want to feel special, they want to feel the magic of life. When you use your heart, you are willing to buy things that you would not buy if you went through a rational filter", says director of Communication.
In this challenge of differentiation in a very competitive landscape, the new generations have a lot to say. Luxury brands have more experience in storytelling, but this way of communicating is also becoming increasingly popular in the mass market. "Millennials and young people in general are the public that is most in love with storytelling. According to the latest programs of study , 86% want to hear brand stories, not facts. They want to discover the personality behind a brand. The new generations demand and demand this change in the way we communicate," says Pedro J. Utrera.