Luxury Brands, Social Networks and Building Communities «FMM. Luxury Brands and their adoption of social media is the topic du jour. The conversations are noisy, speculative and highly theoretical. Every self-proclaimed social media expert seems to have the answer, but their strategies have massive disconnects. Why? Because they’re not working in luxury. Thankfully, as the fashion industry adopts new methods of marketing online, seasoned luxury marketers are speaking out and becoming voices of reason. At the heart of luxury branding conversations are questions related to community. No, not if implemented correctly. The words Exclusivity and Luxury have always been synonymous. A great example of a luxury brand building and developing its own community is Burberry.
Burberry, in launching ArtOfTheTrench, wants to create an experience outside the environment of mass market social communities. “If Art of the Trench focuses on pictures of customers in Burberry coats, one might then ask, “What’s the sustaining attraction?” Articles Referenced: Understanding Luxury Brands and Social Media. Samir Balwani is an emerging technology strategist at Morpheus Media, a firm specializing in Social Marketing, SEM, and SEO. You can follow him on Twitter @samirbalwani and get his newsletter. One of the biggest misconceptions by brand managers is that the web is not a luxury market. The truth is that people are spending more money online and it's a place luxury brands must build a presence.
However, most have a nagging fear of ruining their brand reputation. So, how can luxury brands engage in social media? The Luxury Market Online Before we answer the previous question, let's define the luxury market. "...within the scope of socio-psychology as a result of its connection to a culture, state of being and lifestyle, whether it is personal or collective. So, brands with scarce products and high prices must find a way to find consumers online. In November 2007, eMarketer published a report titled "Affluent Internet Users: How the Rich Live Online. " Problems With Luxury Brands Online 1. Publications Mercedes-Benz Gives Lesson In Auto-Speak 11/30/2009. Luxury Lab The Art and Science of Luxury. Fashion Brands, Social Media and Real Time Live Streaming «FMM. Alexander McQueen A few announcements in the past couple of weeks have made me ponder the place that real-time social media plays in fashion events.
During Toronto Fashion Week, all social media was forbidden during events and shows; organizers blamed weak ticket sales for this shortsighted decision. The media (traditional and “new”) and readers agreed that wasn’t the way to go and some critics even went as far as to say it set the industry back several years. As we discussed in “Fashionably Late to the Party“, it’s only to a brand’s, retailer’s or event’s advantage to leverage the power and the speed with which information is spread across social networks. The fear of relinquishing control of the brand message is what continues to fuel rejection of social mediums.
What fashion industry professionals don’t understand is that by empowering and joining social communities, they are actually gaining back some of that control by being able to respond in real time to criticism or critiques. 1. Luxury Brands Using Social Media Marketing Online «FMM. Louis Vuitton - Ad Campaign How Should Luxury Brands Engage in Social Media? This past week, Women’s Wear Daily released an extensive recap of the WWD Luxury Forum. The consensus among luxury professionals is that luxury brands and retailers need to build solid marketing foundations online and those foundations (based off of social media) should focus on building communities and keeping audiences engaged. Ogilvy Digital 360′s Rohit Bhargava and Forrester Research Analyst Jeremiah Owyang recently compiled better practice recommendations for luxury brands venturing into the social media arena.
Bhargava’s and Owyang’s practices are starting points for luxury retailers who are contemplating a venture into social marketing. Can luxury retailers venture into social marketing without losing their prestige, aspirational values and sophistication? In order for luxury brands to distinguish themselves diluting their brand, Owyang suggests that luxury brands: 1. 2. 3. Fashism.com 4. 5. Luxury car brand embraces social networking - Social Marketing -
By all accounts, Generation Benz has proved a success for the luxury car brand. So much so that another site, this time aimed at Boomers, is planned for next year, reports AdWeek. Generation Benz, launched in May this year, is an invitation-only online community which currently boasts around 800 members of which around a third are Mercedes-Benz owners. The rest, says Stephen Canon, VP of marketing for the luxury car brand, are interested in the brand and are potential future owners. Generation-Benz provides an environment in which Gen Y customers can share their enthusiasm for the brand and marketers can form virtual focus groups around hot topics. Questionnaires, forums and live chat sessions are also utilized by marketers to help develop advertising strategies or even future car design. "When our customers join the brand, they tend to stay. Tags: Boomers, focus group, forums, Gen Y, live chat, Mercedes-Benz, online community, Passenger inShare.
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