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Watch fairs in Geneva showcase popular brands from Audemars Piguet to Cartier, where the brands display their products for the press and buyers. Print and digital media have been using different strategies to tell about different types of time machines to the buyers, mainly to educate watch enthusiasts who are new and cannot identify the categories or lifestyle appeal of these pieces.
Earlier collectors were given information about each timepiece through jewellers or retailers who had the skills to provide comprehensive information, which led to intelligent valuable purchases. But some new digital guides can lead to deception and loss in such investments.
Watchmakers are eager to capture growth and gain positive sentiments from buyers, and they are using unconventional methods in public relations and advertising. Luxury watch brands are endorsing celebrities as it can increase sales by over 4 per cent but working with the wrong celebrity can lead to inappropriate opinions and criminal activities.
One of the strongest endorsements has been made with tennis champion Roger Federer who remained on top of the ATP ranking for 310 weeks. The endorsement was given 92 percentile in terms of public recognition and trustworthiness. The Rolex endorsement of Jordan Spieth was given 86 percentile.
Celebrity influencers marketing strategies are widely used on social media, where celebrities showcase their collections. Recently, the Richard Mille showcased the Bonbon collection, which comprised 10 models, where only 30 pieces of each model have been produced.
These models are made in a spectrum of colours, and constant improvement has been introduced with gemstones, unique shapes and fancy colours.
Using influencer marketing where paid personalities endorse to promote products allows the celebrities to give a paid opinion, which may or may not be authentic. These days the violation of rules related to influencer marketing is leading to unfair practices in this sector.
Some influencers are not aware of the difference between honest editorial opinions and unfair messaging. Sometimes, users are convinced to invest in a product on reading the influencer review or report on the product, but after identifying that it was a paid message, they regret their decisions.
Such strategies led to controversy at Geneva high-end luxury watch and jewellery conference, where a few customers showed disagreement towards the strategies used for a product by a popular luxury brand watchmaker.
Social media marketing platforms provide unregulated marketing space where the influencer personalities can try to show themselves as transaction provider or the ones related to the product directly.
If they are not giving real messages and only giving paid to deceive views, which are posted to gain more buyers for such timepieces, it can cause loss and frustrations where the entry-level price of Audemars Piguet Code 11.59 watch is $25,000, and it goes over $100,000 for higher brands.
To avoid it, companies with a long history of reliable business should be trusted, and buyers should try to avoid the ones who adopt unethical ways only to gain brand positioning.
To find out more about timepiece investment, check 99 Alternatives at (http://www.99alternatives.com).
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