Neiman Marcus marketing strategy breakdown

About Neiman Marcus

Neiman Marcus, founded in 1907 by Herbert Marcus, Carrie Marcus Neiman, and Abraham Lincoln Neiman, is a luxury department store known for its high-end fashion and designer goods. The company has grown from a small storefront in Dallas, Texas, to multiple locations across the United States. Neiman Marcus has had a significant impact on the retail industry, setting trends and standards for luxury shopping experiences. Today, the company continues to uphold its reputation for offering exclusive and upscale products to its discerning clientele.

Neiman Marcus marketing strategy

Neiman Marcus utilizes targeted promotions and a strong omnichannel presence to reach luxury consumers looking for high-end fashion and accessories. By creating personalized offers and engaging customers across multiple platforms, the company aims to drive sales and increase brand loyalty. The focus on exclusivity and quality in their marketing tactics helps Neiman Marcus stand out in a competitive market, attracting discerning shoppers seeking luxury experiences. Through these strategies, Neiman Marcus aims to solidify its position as a top destination for luxury retail, catering to a sophisticated and affluent customer base.

General Info

Neiman Marcus marketing mix

Neiman Marcus, like many other companies, relies on the classic 4Ps marketing mix framework to shape its marketing strategy. This framework comprises four essential elements:

Product

Neiman Marcus focuses on offering high-end, luxury products as part of their marketing mix. By carefully curating their product selection to appeal to affluent customers, they are able to position themselves as a premier retailer in the luxury market. This strategy helps Neiman Marcus attract their target audience of upscale shoppers looking for exclusive and high-quality items. The intended outcome of this approach is to drive sales and establish the brand as a top choice for luxury shopping.

Price

Neiman Marcus strategically utilizes the price component of the marketing mix by offering luxury products at premium prices to target high-end consumers. By positioning themselves as a high-end retailer with exclusive products, they create a sense of exclusivity and luxury among their target audience. This pricing strategy helps Neiman Marcus maintain a strong brand image and attract affluent customers seeking luxury goods. The intended outcome of these pricing strategies is to drive sales and increase brand loyalty among their target audience.

Place

Neiman Marcus strategically utilizes the "Place" aspect of the marketing mix by carefully selecting high-end locations for their stores, ensuring they are easily accessible to their target audience of affluent consumers. By positioning their stores in upscale shopping districts and luxury malls, Neiman Marcus aims to create a premium shopping experience that aligns with their brand image. The intended outcome of this strategy is to attract and retain high-spending customers who value luxury and exclusivity.

Promotion

Neiman Marcus utilizes various promotional tactics such as social media campaigns, influencer partnerships, and exclusive events to reach their target audience of luxury shoppers. These strategies aim to create buzz around their high-end products, drive traffic to their stores and website, and ultimately increase sales.

By strategically managing these four elements, Neiman Marcus can develop marketing strategies tailored for customer needs, enhance brand value, and drive business growth.

Search engine traffic

Neiman Marcus places a strong emphasis on generating organic traffic, which makes up a significant portion of its overall web traffic. This strategic focus on organic search helps Neiman Marcus attract a vast audience without relying heavily on paid advertisements.

Neiman Marcus receives a 9.7m visitors per month from organic search and 2.8k per month from paid search. A substantial number of visitors each month are from organic search, demonstrating the effectiveness of its SEO efforts.

Neiman Marcus domain authority is 82. A high domain authority indicates that the website is well-regarded by search engines, making it easier to rank for relevant keywords and attract organic traffic.

By maintaining a strong focus on organic traffic, Neiman Marcus exemplifies how businesses can build an impactful online presence. This strategy not only enhances visibility and brand reputation but also paves the way for growth and success in the digital marketplace.

Neiman Marcus Youtube marketing strategy

Neiman Marcus has an active Youtube Channel with over 21.1k subscribers. Their whole channel has 32m views. They posted 252 videos, which means that every video got them 126.9k views for the channel and 83.7 subscribers

R.O.I. of marketing channels

Even though online marketing channels are found to be more effective than offline marketing channels, not all are created the same. If you think of just running banner ads, you need to rethink your marketing strategy.

At the front of online marketing strategies sits email marketing, boasting high reach and engagement. Following after that is SEO, a cornerstone of any successful digital campaign. What makes this duo truly formidable is their synergy, working hand in hand to fuel an efficient online marketing engine.

SEO is our cup of tea, so if you want to start or improve your marketing strategy, feel free to book a call with us.

* According to Data & Marketing Association (DMA)

Author

Alexandru Totolici

Alex is the founder of Gliesess. With a foundation built on 7 years of experience, technical expertise is not a lack of his. After discovering SEO accidentally, he fell in love with it.