Social media for luxury brands 2012
Upcoming SlideShare
Loading in...5
×
 

Social media for luxury brands 2012

on

  • 1,584 views

This is a modified version of slides that I presented at 'Luxury circle' meeting organized by BlueBell Korea at Park Hyatt in Seoul. (Nov 22, 2012). Thanks for Daniel Mayran (CEO of BlueBell Korea) ...

This is a modified version of slides that I presented at 'Luxury circle' meeting organized by BlueBell Korea at Park Hyatt in Seoul. (Nov 22, 2012). Thanks for Daniel Mayran (CEO of BlueBell Korea) who organizes this meeting regularly as well as other participants.

Statistics

Views

Total Views
1,584
Views on SlideShare
1,584
Embed Views
0

Actions

Likes
2
Downloads
28
Comments
0

0 Embeds 0

No embeds

Accessibility

Categories

Upload Details

Uploaded via as Adobe PDF

Usage Rights

CC Attribution-NonCommercial LicenseCC Attribution-NonCommercial License

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

    Social media for luxury brands 2012 Social media for luxury brands 2012 Presentation Transcript

    • Social Media for Luxury Brands y Janghyuk Lee Associate Professor of Marketing Korea University Business School http://biz.korea.ac.kr/professor/janglee http://www.facebook.com/jangleeMKT (Internet marketing open course)
    • Gucci on the Internet Gucci added commerce function to its web site from which Gucci’s customer could purchase directly directly. It reduces experiential benefit of shopping off-line and does not discount price. Who will purchase Gucci web site? Main target: customers (probably who are used to buy luxury brand products and do not have time to enjoy shopping experience). © 2012, All rights reserved. Janghyuk Lee 2
    • Why Social Media?Enhancing Value for Customer g Value for customer (customer perceived value) Benefit – C t B fit Cost Functional, symbolic, experiential benefits (CW Park 1987) Price, opportunity cost pp y © 2012, All rights reserved. Janghyuk Lee 3
    • Why Social Media?Social Media & Brand Value Based on Twitter transaction data (Dec 2011 for two weeks), Twitter activities such as the number of users tweeted or exposed to ‘brand brand keyword’ tweets and the average volume of tweets are highly correlated with the brand value. (the case of consumer electronics) (source: Interbrand, NiBD Lab) Correlation Coefficient © 2012, All rights reserved. Janghyuk Lee 4
    • Why Social Media?Enhancing Symbolic Benefit g y 2 hours of F1 racing is too short for Ferrari fans! © 2012, All rights reserved. Janghyuk Lee 5
    • Why Social Media?Enhancing Symbolic Benefit g y As more people interact with a brand, symbolic benefit for the brand increases. increases In case Ferrari, the large number of its fans (non buyer) is one of key assets compared to similar luxury brand Maserati less performing on SNS. Facebook Performance © 2012, All rights reserved. Janghyuk Lee 6
    • Why Social Media?Enhancing Experiential Benefit g p Nike tries to keep in touch with its customers and prospective ones through various channels notably smart phone and game machine in order to enhance their experiential benefit through customer – company interaction. © 2012, All rights reserved. Janghyuk Lee 7
    • Why Social Media?Impact of Mobile Internet p Mobile internet outperforms fixed internet: Instant I t t usage (e.g., always on, between tasks) ( l b t t k ) Context based customized service (e.g., location info) Ubiquitous coverage Fast penetration © 2012, All rights reserved. Janghyuk Lee 8
    • What to Do? Use Multiple Media Interactively! p y Old spice ran ‘Your man could smell like’ campaign by integrating ‘Twitter’ and ‘Youtube’ as well as TV ad. Youtube Number of videos made: 180+ Number of video views: 5.9 million Number of comments: 22 500 22,500http://www.youtube.com/watch?v=_-fLV28SkZ8 © 2012, All rights reserved. Janghyuk Lee 9
    • What to Do?On & off-line integration g As a part of ‘Happiness’ project, Coca-cola Korea installed a dancing vending machine at a trendy place in Seoul which attracted not only shopping mall visitors but also more than 1 million page views on YouTube. http://www.youtube.com/watch?v=DgtijpUNKGo © 2012, All rights reserved. Janghyuk Lee 10
    • What to Do? Create a Theme to Share and Dominate it! Nike ‘True City’ City guide of 6 major cities In 1 month of campaign, Google search 1.3M, App D/L 140K (iTunes store #1 in Europe) ( # )http://www.youtube.com/watch?v=Qet4NGswKfA Smirnoff ‘Night Life Exchange’ g g Where were you? Unique experiences from 14 countries Offering invitation to other countries’ events http://www.youtube.com/watch?v=wWlXbZZ3ALA&feature=relmfu © 2012, All rights reserved. Janghyuk Lee 11
    • What to Do? Find Topic Specific Influencers and Communicate with them! p pHyundai & GenesisTweet: 3,775 3 775User: 923,458Lotay Yang @lotay• Philanthropist, founder of black card circle• lotay.com• 71,485 followers• Based in California (source: NiBD Lab) © 2012, All rights reserved. Janghyuk Lee 12
    • What to Do?Find Topic Specific Influencers and Communicate with them! p p Lexus Tweet: 162,379 , User: 7,511,689 Hiroko Tabuchi @hirokotabuchi • New York Times reporter in Japan • Pulitzer award finalist 2011 • 55,152 followers 1 2 f ll • Based in Tokyo (source: NiBD Lab) © 2012, All rights reserved. Janghyuk Lee 13
    • Check-Up List Mobilizing new media? Mobile M bil web, smart phone app b t h Off-line activity integration (e.g., geo tagging, NFC) SNS How are they interlinked? Center & peripheral Customer experience measurement? Easy Enjoyable Useful Aligned with internal CRM database? © 2012, All rights reserved. Janghyuk Lee 14