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Social media findings

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Insights and findings on Social Media with hign-end retail brands in focus.

Insights and findings on Social Media with hign-end retail brands in focus.

Published in: Business, Technology

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  • 1. SOCIAL MEDIA FINDINGSClaus Handberg – handberg7480@gmail.com
    X
    = ?
    BRAND
  • 2. Reasons why?…why should luxury brands go digital?
    Web Promotion Platform
    Premium, affluent consumers are online!
    US Affluent Internet users will grow from 43.7 million in 2006
    To 57.1 million in 2011 (source eMarketer report 2007)
    27% of affluents did participate in social networking in 2007
    – went up to 60% in 2008 (source Luxury Institute)
    On avg. they have memberships in 2,8 social networks
    and 110 connections on avg.
    Going beyond exclusivity to reach aspirers creating “lust for the
    product” and “one day I’ll be able to afford that” feelings
    96% of Gen. Y (Forbes calls “Next generation of luxury consumers)
    are using social media
    Remember - setting up a Facebook fan-page is free
    …. But doing active and effective Social Media marketing isn’t
    “Social Media platforms give brands the opportunity to be a leader of discussion about their products online. Placing a brand in the middle of two-way communication with their consumers, builds meaningful relationships that fosters loyalty and promote advocacy.”
    Julia Roy, Luxury Brands and Social Media
  • 3. Web Promotion Platform
    Today, Internet is much more than an (SEO) optimized
    website
    The social media cloud is a broad spectrum of medias (see figure)
    Content and substance rules - be there, and be relevant!
    70% of marketers said they plan to increase social media spending
    in 2010 (ExacTarget survey)
    The key is to draw fans into a deeper experience with your brand
    and a community that matches their current or aspired lifestyle
    and embraces long-term brand related social identities.
    Benefits are:
    • Increased daily mentions
    • 4. Positive brand sentiment
    • 5. Increased website & retail traffic
    • 6. Increased consumer awareness
    • 7. Increased interaction with in-store promotions and events
    • 8. Real-time consumer feedback for insight and research
    Web 2.0…a change in the virtual landscape
    ..marketing are conversations
    “the art of listening, learning and sharing”
    Social Media genres
  • 9. Social Media……Facebook and others
    Social Media element:
    Facebook has become a dominant
    … and accepted channel in the business environment.
    Of the 15 most popular pages – three belong to corporations:
    Coca-Cola, Starbucks and Skittles
    “Fans” spend on avg. 6 Facebook hours a month – (source Nielsen)
    Facebook tools translate into 20 languages, ensuring global usability
    63% of Facebook users live outside the US.
    Extensive growth continues – and women over 55 are the fastest
    growing demographic.
    Targeted Advertising programs are available for commercial use on
    Facebook. Corporations can target ads to relevant personal profiles.
    Facebook boasts that it runs campaigns from 83 of the
    top 100 brands.
    - US
  • 10. Luxury brands in social media:…what are they doing
    Social Media element:
    Gucci
    Stats: 568.000 fans - each update receives over 200 interactions
    Continually updating page with content: text, video, photos.
    Mercedes Benz:
    Stats: 248.000 fans
    Also established Generation Benz, an invitation only branded social
    network where consumers can give feedback on vehicles
    Coach:
    Stats: 580.000 fans
    Contest where participants designed, shared and rated Coach bag designs. The winner was sold as a limited edition item.
    Louis Vuitton:
    Stats: 836.000 fans
    Ferrari:
    Stats: 224.000 fans
    Brands Facebook profile photo - February 2010
  • 11. Social Media……the story of growth in DK
    Social Media element:
    Facebook – the DK growth story….
    Started in Denmark august 2006.
    2007: between 300.000 – 400.000 users
    2008: between 600.000 – 700.000 users
    2009 January: 1.861.480 users
    2010 February: 2.299.800 users
    Source: JP/Politikkens Hus
  • 12. Social Media……the others!
    Social Media element:
    Twitter:
    Has signed social search deals with Google and MS. Twitter results
    will now be featured on the first page of Google, in similar fashion
    to Google news results What people say about our brand on Twitter
    will become VERY important
    Twitter.com is globally the 12th most popular website
    (source: Alexa Top 500 Global Sites)
    MySpace:
    Dedicated music & video network, being seen as fading but still
    holds a dedicated crowd of fans.
    Can be linked together with Twitter to co-post on both network
    in one go.
    Other to be considered:
    YouTube.com, Playlist.com, behance.net, current.com, ilike.com,
    jamendo.com, etc…
  • 13. Social Media……KPI’s and measurement
    Social Media element:
    A new set of intelligence & measurement
    Monitor the Social Media Buzz – through Market Intelligence setup
    Reputation in social media as a KPI of success
    Tool for changing our brand perception through two-way dialogue
    with our target audience
    Work as a powerful research tool
    Listen to understand customer needs
    Putting out questions to “friends” and “followers”
  • 14. Case for consideration……even a brand like Old Spice (P&G) can have an effect with social media…
    “Turn up your man smell”
    Social Media element:
    October 2009
    The Procter & Gamble brand was running an ad on Facebook
    hoping to increase its 55.000 strong Facebook fan base.
    After 2 weeks, Old Spice boasted nearly 175.000 fans.
    Targeted advertising on Facebook was supported by YouTube
    Video commercials
    Today (February 2010) Old Spice has 427.200 fans.
    http://www.youtube.com/watch?v=LpUrz9RvuPk