Sala Privé Luxury Online

© 2009 Luxury Branding

Wednesday, 7 April 2010

Privé 2.0: Luxury Online


Direction brands have given
Many luxury
the cold shoulder to the web.
Vision
Purpose mantra of scarcity and
Their
mystery has, to date, provided
Values
Mission
relief from the tedious necessity
of understanding the digital
marketplace.
Professor Scott Galloway
NYU Stern &
Founder, LuxuryLab



nee d no
we don’t
wide web!
w orld



In 2009 that all changed. Why?



Richard Fuld, Lehman Brothers


5 Key Factors
1. Mythbusted: the affluent don’t use the Internet or spend online
2. Increasing broadband penetration enables richer web experiences
3. Credit crunch forces brands to reconsider their Distribution and Marketing
 Flagship stores, traditional PR, advertising, endorsements, sponsorships
 Costly and generic
 Leverage investment across multiple platforms
4. Customisation rules
5. Shift from “control” to “conversation”



Mythbusted
 The luxury consumer spends 13.5 hrs a week online (4.2 shopping!)
 94% of affluent Americans surveyed agreed that “making a luxury brand
available online does not cheapen” their opinion of the product or brand
 Respondents who shopped online spent 5 times more than those that
shopped in stores only ($114,632 vs. $22,813)
 78% of affluent consumers have a profile on a social networking site
 50% of affluents use social media to connect with brands

Source: “How the Affluent Luxury Consumer uses the Internet and Social Media” Feb 2010 by Unity Marketing
Base: 1,614 affluent consumers with an average income of $239,000



Mercedes: an exclusive Peer Network



Mercedes: an exclusive Peer Network

You saw the storyboards.
You gave us feedback.
You provided impact.
Now this is your exclusive
opportunity to see the final GLK
commercials before they air...
We’re really interested in your feedback



Luxury Society: Trade Community



A Small World: Private Facebook



Richer Web Experiences



The Customisation is always Right



From Control to Conversation



The Old Front Row



New Kids on the Block



Who’s the Tweetest of them all?

Yesterday

732,256
84,091
9,928
7,810
22,643
12,880
9,803
85,541
3,152
7,187
1,981
1,575



Volte Face?



Volte Face?

1.01m

653k 780k
648k



Do you Facebook? Louis does.



Do YouTube? LV does.



Anyone for Twitter?



If you go down to the Dorchester today...



But it doesn’t end there…



iPhone Apps: Ralph Lauren



iPhone Apps: Ralph Lauren Rugby



iPhone Apps: Van Cleef & Arpels



Hot tip for Cape wine fundis



Games



Podcasts



It’s about the sum of the parts



Digital IQ Index



Best of Breed



Digital IQ: Top 20



Good, Bad and the Ugly



Digital IQ: Evaluation criteria

Measured across 15 dimensions grouped into four criteria:-

1. Search Engine Optimisation 3. Leveraging the Medium
– Traffic – Technology
– Keyword competence – User interface
– Web authority – Interactivity

2. Brand Translation 4. Social Media
– Aesthetics – Presence on Facebook, YouTube
– Mesaging and Twitter
– Heritage – Mentions on blogs and other
user-generated content
– Corporate citizenship



7 steps to online heaven



1. Communicate the Dream



2. Serve Customers: One at a Time



3. Tell a Compelling Story



4. Become a Cultural Tastemaker



5. Mine your own History



6. Exploit competitions, sponsorships etc.



7. Create an exclusive peer network



Some luxury brands are beginning to
cross the chasm and embrace the
internet. While some stare at the navel,
there is a new generation of luxury
professionals emerging who are
purchasing key words, building
e-commerce platforms, and embracing
social media. These brands are growing
online sales, creating evangelists,
innovating, and connecting with a
new generation of consumers.

Professor Scott Galloway
NYU Stern &
Founder, LuxuryLab



Sala Privé Luxury Online

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