Luxury watch brands ranking

Introduction Methodology Top Performers Top Influencers Influencer Mix Voice Split Download

Introduction

In this report, we reveal the trends and changes in MIV® levels for many brands as they continuously reevaluate their marketing strategies to better connect with consumers.

The global luxury watch market is valued at more than USD 23 billion. To maintain that value, brands need to focus on some key elements, such as collaborating with ambassadors that speak to their audience, pushing the right price points, and utilizing key opinion leaders to raise awareness.

We have discovered common themes such as the continued importance of Media in generating long-term value for brands, but also the increase in the effectiveness of Celebrities and All-Star Influencers in this particular space. You can download our monthly ranking of Watch brands based on MIV® at the bottom of this page.

luxury watch brands ranking

Long-term partnerships are key

Because items in the luxury watch space are sold at such a high price point, it only makes sense that brand partnerships are long-term rather than short-term. Not only does this reflect the longevity of the product but also the audience who look to purchase a luxury or affordable luxury watch.

Regionalized strategies are more effective

Most successful brands in the luxury watch space implement effective regional strategies, with media placements in location-based outlets rather than global publications. This helps diversify the types of content they are putting in front of their target markets and their varying demands.

Methodology

The data in this report is gathered with the use of Launchmentrics' proprietary Media Impact Value™ algorithm (MIV®) to analyze the Voices and impact generated around luxury and affordable luxury watches based on the following:

Scope: The top luxury and affordable luxury watch brands of the quarter by MIV®.
Channels: Media (print and online), social (Instagram, YouTube, Facebook and Twitter) - this does not include advertisements.

This array of information is sourced from our technology, which uses Launchmetrics methodologies and data generation to produce a comprehensive data analysis and Monthly Ranking that you can download HERE. 

Definitions

  • Media Impact Value™: Launchmetrics’ proprietary Machine Learning algorithm provides brands with a unified currency to measure the value of all marketing activities across Voices, Channels, and Markets by assigning a monetary amount to every post, interaction, and article. It analyzes more than 100 quantitative and qualitative attributes including audience engagement, industry relevance, source authority, and content quality, to create a highly accurate method of measurement. MIV® offers a unified way to calculate how brand equity is being created and which strategies create the most ROI.
  • Voices: Launchmetrics’ Voice-Centric approach highlights the Voices creating value today to provide a holistic view of marketing performance and cross-compare the impact various activities have on the customer lifecycle. From Media, Celebrities, Influencers, Partners and Owned Media, this methodology gives brands a unique framework to understand the ROI of these activities as well as the Voices that influence the customer buying journey from awareness and consideration to conversion and retention.
  • Share of Voice: Most of the figures represented in this report appear in percentages format. The concept of Share of Voice offers us a percentage view of the value – based on the MIV® – generated by a brand, a segment of brands or an influencer, over a certain period of time, while the Share of Voice represents the percentage of mentions generated.
  • Influencer: An influencer is considered anyone with the capacity to attract audiences and generate reactions within them. According to this definition, they are categorized into four groups based on the volume of their community:
    - Micro Influencer (10K-100K)
    - Mid-Tier Influencer (100K-500K)
    - Mega Influencer (500K-2M)
    - All-Star Influencer (+2M)

Top Performers

Most luxury watch brands have seen a recovery in their MIV® since the impact of the first global lockdown, with the industry finding out just how to adjust to new consumer demands and priorities. Top brands continue to have a number of placements across Media, Influencers, Celebrities, Owned Media, and their Partners. Top watch brands continue to develop unique strategies that heavily implement the use of Celebrities and Influencers, who, for them, are incredibly efficient, and accumulate high levels of MIV® across fewer posts.

Top luxury watch brands continue to update their versions of a classic timepiece, resulting in an array of options for a lavish accessory for both men and women. These brands understand that buying a luxury watch is a key purchase that some would consider an investment, and thus their product should be marketed using the right ambassador, across the right channels with a clear message to achieve the best results.

Top affordable luxury watch brands know their consumers and offer a product that still has a high-end style and masterful craftsmanship, but retails at a lower price. Affordable watches can be worn by many, and good marketing partnerships are key to draw in a loyal audience through a range of advertising mediums.

In the affordable space, there tends to be more varied results in terms of MIV® growth or decline. There is quite a mix of the Voices that activate the most value in this space, and successful strategies tend to change quarter-on-quarter. The most successful sustained strategies can be seen from brands that activate a somewhat balanced mix across all key Voices.

Top Influencers for luxury watch brands according to MIV®

When it comes to the names that watch brands activate, larger Celebrities, Influencers, and sports stars have always been the favorite. Likely because the entry price point is quite high, brands opt to forge and maintain longer-term, meaningful partnerships rather than multiple, frequent influencer campaigns with a broad range of creators. This makes sense, as it is easier for consumers to buy into the lifestyle of a product if they frequently see the same ambassadors fronting the company or brand. It's unlikely that the majority of consumers can frequently buy luxury watches, so this should be reflected in the influencer marketing campaigns and advertisements that they see.

This isn't necessarily a new strategy for brands, as watch ambassadors in the entertainment space have always existed, and the value that Celebrities, as well as Key Opinion Leaders, bring to brands cannot be underestimated. Generating a high level of MIV® through multiple placements across an array of channels is crucial for a targeted marketing strategy, supported by an appropriate ambassador.

KENNY LAI

$1.32M MIV®

In the third quarter of 2021, Kenny Lai took the top spot, accumulating a total of $1.32M in MIV® across more than 20 posts mentioning TAG Heuer. Kenny is a pro big wave surfer, windsurfer, kitesurfer, as well as a TAG Heuer ambassador.

JAIME LORENTE

$1.15M MIV®

Most famously known from the series Casa De Papel, Jaime Lorente López is a Spanish actor and model. Through three posts on Instagram for Bulgari sporting the brand’s watch, he garnered an impressive total of $1.15M in MIV®.

CONOR MCGREGOR

$958K MIV®

UFC superstar Conor McGregor showed off his Rolex watches in three posts between July and September, generating $958K in MIV® for the brand. The top fighter is known for his flashy taste, sporting the make of the largest gold Rolex in one of his posts.

 LIZ SOBERANO

$868K MIV®

Superstar Hope “Liza” Soberano is a Filipina-American actress, model, and singer. Her latest endorsement for Omega raised an impressive $868K in MIV® through two Instagram posts in the third quarter of 2021.

Influencer Mix

Luxury watch brands generally rely quite heavily on Celebrities and All-Star Influencers to generate value - specifically on networks of set brand ambassadors, that extend across the entertainment industry. However, some brands utilize a more even split across the Influencer Tiers, activating mostly Mid-Tier and Mega Influencers. This structure allows a brand to extend its reach across more niche, targeted audiences, even if it means fewer Impressions. For luxury watch brands, how they utilize Influencers all depends on their Marketing goals and resources available to implement their strategies. All-Star Influencers are the highest-ranking, and most costly, social media Influencer, typically with millions of followers. Their connections with individual followers tend to be more distant, but do they provide a lot of reach in just one hit, generating an immediate impact and high engagement rates.

While Mid-Tier and Micro-Influencers tend to focus on a specific niche or area and can be considered a topic specialist, often forming closer relationships with their smaller followings, which can result in a more profound marketing impact that generates more leads. It is common to see some high-performing brands in terms of MIV® being mainly supported by All-Star Influencer Voices. Other brands can rely heavily on Mid-Tier Influencers who post more often to generate their value. For some marketing strategies operating in a space where the price-point is slightly lower and more affordable, there is often more flexibility for working with a multitude of different influencers in regionalized strategies.

Make sure to closely monitor your Influencer campaigns, and be prepared to make adjustments to maximize performance, as online social climates are often subject to unexpected changes.

Maintaining close communication with ambassadors throughout campaign cycles is key to ensure alignment on how your brand messaging will be promoted.

There is particular value in working with Mid-Tier Influencers, who can deliver better value for your marketing strategies through their perception as an opinion leader, as opposed to a celebrity, with a loyal following.

Voice Split

In order to truly compare performance across different strategies and initiatives, brands need to analyze their ideal Voice Mix to help optimize efforts. This can include reach and media rates along with content and media quality metrics – all of which vary slightly by channel.

The goals of a specific brand, such as awareness, consideration, or retention, will determine which formulas for Voice mix need to be considered. Not all luxury watch brands have the same objectives, so for those trying to increase customer loyalty and retention, invest in owned media strategies and creating authentic content for your audience can help grab their attention.

Media is often considered the top Voice for brands in the luxury and affordable luxury watch spaces. As traditional Media sources try to maintain their audience connections, the value of mentions for brands is worth pursuing. The benefits of an editorial spread in a traditional media source could be very high depending on the target audience within the luxury watch sphere. 

Luxury watch brands usually see a sizeable portion of their MIV® come from Celebrities, a significantly popular strategy for top watch brands in general. Picking specific ambassadors to consistently represent the brand is key for the industry because these watches are considered high ticket items that most consumers take time to consider purchasing, and often keep for an extended time, unlike fast fashion items. Having this affinity between Celebrities, Key Opinion Leaders, and brands allows marketing communications to be more authentic and meaningful as the partnership is long-lasting - much like the product.

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