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Social Media for Luxury Brands
 

Social Media for Luxury Brands

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How luxury brands need to utilize social media in order to be contenders in today's changing marketplace.

How luxury brands need to utilize social media in order to be contenders in today's changing marketplace.

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Social Media for Luxury Brands Social Media for Luxury Brands Presentation Transcript

  • SOCIAL MEDIA FOR LUXURY BRANDS By: Jonathan Flegg Photo: [Flickr] ElvertBarnes
  • Times have changed... Photo: [Flickr] Cuba Gallery
  • Photo: [Flickr] NS Newsflash From Newspapers
  • and magazines Photo: [Flickr] Rodrigo Galindez
  • to personal hand-held devicesPhoto: [Flickr] Sean MacEntee
  • Photo: [Flickr] babyben that are connected to the web
  • “The modernconsumer demandsmore from brands - especially luxury brands”-Abrams Research Photo: [Flickr] westphalen
  • Luxury brands that take advantage of these social outlets will have a large advantage moving forward. Photo: [Flickr] LHTP
  • Especially since “nearly 80% of consumers with an income of at least $240,000 have at least one social networking profile” -Abrams ResearchPhoto: [Flickr] StevenM_61
  • Therefore, Luxury Brands must INFLUENCE the conversation themselves. Photo: [Flickr] MadGrin
  • The web now allows for brands to create an onlineexperience that compliments and enhances even the highest end luxury businesses. -Abrams Research Photo: [Flickr] mothemagicdragon
  • Consumers hold luxury brands to a much higher standard online, just as in the real world. -Abrams Research Photo: [Flickr] SJColgan
  • Photo: [Flickr] Brandon Engel“Brands that leave up abandoned Facebook profiles lose credibility.” -Abrams Research
  • Ultimately, luxury brands mustconsistently ‘remain in character’ to succeed online and in social media. -Abrams Research Photo: [Flickr] wenzday01
  • Photo: [Flickr] kawwsu29Identify and Expand your Brand’s AUDIENCES.
  • “Despite the trend of brands impulsively joining the largest social media sites, the ‘one size fits all’ approach is not appropriate for luxury brands” -Abrams Research Photo: [Flickr] wesbs
  • Brands’ biggest mistake is using their social platforms as anothervenue for press releases,because consumers loseinterest in engaging with the brand. Photo: [Flickr] batatinha
  • The challenge for luxury brands is to create a digital and socialspace to promote the brand, while still maintaining its essence of exclusivity. Photo: [Flickr] Ian Muttoo
  • Targeting groups and and individuals with common intereststhrough forums and blogs allows brands to communicate with ‘niche communities’ -Abrams Research Photo: [Flickr] Danielle Hummel
  • Consumers will often choose products based on the identity that both the products, and themselves represent. Photo: [Flickr] Bad Chiang
  • Online, consumers’ do the same thing by publicly showing what brands they’re wearing, ‘liking’, and tweeting about. Image: [Flickr] @Doug88888
  • Photo: [Flickr] scovophoto Brands can harness consumers’ support by creating interactive platforms that integrate the consumers experiences into the brand identity. -Abrams Research
  • FANS want to socialize with brands much like they do with their own friends. Photo: [Flickr] dirac3000
  • Luxury brands need to deliver content that provides a deeper experience of the brand. Photo: [Flickr] sam saturday !
  • The KEY for a successful luxury marketer is to build a social identity.Photo: [Flickr] nuttynat84
  • Luxury Brands NEED to manage customer relations
  • “As image is such acrucial component of a luxury brand, the outcomes of social media can be a blessing or a curse.” This became evident when social media made Rebecca Black famous over night. However, was this a blessing or curse? -Abrams Research Photo: [Flickr] alizazaveri
  • One possible approach to using social media as a tool tocreate social identity is getting the business’ top executive involved Photo: [Flickr]markkow
  • By MAINTAINING an ACTIVE social media presence, brands can respond quickly to consumers and situations. -Abrams Research Photo: [Flickr] alexandrehuang
  • “According to the latest L2 Digital IQ Index, luxury brands that improved their online experience grew their traffic by 52 percent while brands that ignored their web properties saw growth of only 8 percent.” -Abrams ResearchPhoto: [Flickr]Prise de Lu  Ludivine Courcelle
  • In order to succeed online, luxury brands have to embed their brands essence into the web. Photo: [Flickr] The Ticket Collector
  • Photo: [Flickr] Miha Ella Luxury brands who embrace this online social media world, will definitely come out on top.