What is lifestyle marketing?
Lifestyle marketing is a type of marketing where a product is marketed in such a way that it is perceived to capture the ideals, aspirations and aesthetics with which the targeted audience identifies, and which revolves around a particular meaning, purpose, and ideology t.
The goal of integrating products into a client-targeted lifestyle is to sell the lifestyle that goes along with the product. A brand which uses lifestyle content as a marketing method has a deep understanding of its consumer’s views on life When a consumer feels that a brand marshals their lifestyle, they feel proud to be associated with it and support it. Then comes spreading the word to their friends and family so they support the brand too.
There are quite a few brands that have gone from selling products to lifestyles . Everybody knows Nike, the biggest brand in sports apparel. Nike is not just a pair of shoes, it’s a lifestyle brand. It’s more than the swoosh, it’s the connection with the superstar athletes one sees on television. Any person who wears Nike, ‘just does it’, whether he is winning Grand Slam Singles or going for a brisk walk. Nike also uses digital platforms to give support to all types of athletes, with apps that keep track of workouts and share progress with friends. The technical tools that Nike uses, and the community that it has built, shows why the company dominates as a lifestyle brand.
Storytelling plays an important role in lifestyle marketing and branding. A business needs to do more than market products and services. It needs to form a connection with customers.
Ikea, for instance, is not just a regular furniture store. Ikea has transformed the way a customer shop for furniture. It has a showroom, a warehouse, an assembly team and even a cafeteria. This Swedish lifestyle brand has become an integral part of popular culture. It sells affordable furniture and also provides a means by which individuals can express their taste.
How to create a lifestyle brand
An easy way to create a lifestyle brand is to look at existing concepts and transform them so that they form an emotional connection with an audience. In other words, create a culture using new ideas, and put emphasis on experience.
The success of WeWork is a noteworthy example of a lifestyle brand. WeWork is a co-working space that caters to startup brands and small companies. The company makes money by renting office space or a couple of floors in an office building that are converted into smaller offices and common areas. WeWork has not invented office space and wifi. Rather it portrays itself as the creator of a community of like-minded people working in a shared space.
To create a lifestyle brand, a business has to notice what customers want and rely on. Then the product or service has to be transformed so that the brand effectively aligns with customer values, culture, and aspirations. A customer will buy a brand mainly for what it means to them.