Designer brands in the luxury division of the fashion industry have always prided themselves on ability to create and drive trends, as well as the inaccessibility of their products to the average consumer.
This is the mentality with protecting these luxury brands and confining them to beautifully-glossed pages in traditional media. However, with the latest data showing half of all America adults are using social media, and 96 percent of “Generation Y”, it seems that the old system for marketing will need to change.
In addition to the statistics, brands—elite or not— need loyalty. Luxury brands are known to have extreme fans with passion for their favorite designers. The Web builds a haven for this.
The article also argues that if these companies do not make their own image online, someone will make it for them. “Brand makers that don't create their own conversation with their most passionate customers through social networks risk having a passionate consumer create that presence instead.”
The article also highlights steps for luxury brands to form a social media strategy. This addresses finding the online “voice” for the brand and allowing criticism and adoration.
It goes on to push for “consistent communication” and original content different from the company Web site. However, there is also a caution to follow the 80-20 rule and use the forum for social engagement—not pushing ads in people’s faces.
http://www.forbes.com/2009/10/14/social-media-luxury-brands-cmo-network-gers.html
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2 comments:
I never realized that luxury brands don't really use social media. It's usually big brands like Coca-Cola and smaller brands and businesses. Luxury brands are missing the mark by not having social media as a PR tool. It's free, easy, and reaches millions each day.
I second that Roxanne. Social networking sites are a great way to get involved with consumers. And let's face it, they love the interactivity the Web gives them.
Also, after watching Mass Comm Week speaker, Gary Vaynerchuk, building and maintaining a brand is what it's all about. It doesn't matter what it, the brand should speak for you and companies should be listening to consumers more than ever now. With an unstable economy, if a company isn't flexible enough to do things differently, they will die, period. Luxury brands shouldn't be afraid to lower the threshold, but should be embracing it instead if they want to be around next year.
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