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Amplifying Storytelling in your Marketing Plan

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The luxury goods industry is shifting focus from which markets drive growth to which channels drive growth. The luxury industry is one of the most competitive in the world, and social media is the newest battleground to develop loyalty and brand heritage, as well as to reach new segments of potential customers. In today’s complex digital world, there is an increasing number of different ways to reach customers. It makes it difficult for marketers to stay on top of this evolution and to ensure the right mediums are leveraged in function of the business and marketing objectives. Multiple clients have already given Duval Union Consulting their trust for managing their marketing projects, from strategy to implementation.

Published in: Marketing

Amplifying Storytelling in your Marketing Plan

  1. 1. AMPLIFYING STORYTELLING in your MARKETING PLAN CAROLE LAMARQUE for SOCIALMEDIADAY
  2. 2. WHO ARE WE?
  3. 3. CAN DO TEAM
  4. 4. OUR MISSION SOLVING YOUR CHALLENGE
  5. 5. ONZE KLANTEN
  6. 6. INFLUENCER MARKETING
  7. 7. WHY DOES THIS MATTER TO YOU?
  8. 8. WHY DOES THIS MATTER TO YOU? Word-of-mouth recommendations are the  primary factor behind 20-50% of ALL purchasing decisions   – McKinsey +20% 20 -50 % of all purchasing decision
  9. 9. WHY DOES THIS MATTER TO YOU? 73%  of Millennials feel it’s their responsibility to help their friends and family makes smart purchase decisions – Fleischman-Hillard and Hearst Magazine +73% 73% of Millennials feel it’s their responsibility decision
  10. 10. Negative messages can reduce market share by 20% WHY DOES THIS MATTER TO YOU? In the mobile-phone market, for example, the research observed that the pass-on rates for key positive and negative messages can increase a company’s market share by as much as 10% or reduce it by 20% over a two-year period, all other things being equal. – McKinsey -90%
  11. 11. WHY DOES THIS MATTER TO YOU? 12% increase in brand advocacy on average generates a 2X increase in revenue  – Harvard Business School Press +12% 2x more revenue
  12. 12. Why are you not doing it?
  13. 13. Start doing it! Only  20%  of brands are using advocate and referral programs in their marketing –MarketingCharts 20% Only 20% do it today!
  14. 14. WHO IS AN INFLUENCER?
  15. 15. It’s a Person Not an organization Not Stakeholder Management Not PR Who expresses a contextually relevant message By working with them you're able to distribute your message the right way, at the right time, and through them you will also access the right people To elicit action from others Research findings suggest that more than 90% of all consumers read online reviews before they buy That is meaningful enough They can help your brand to build credibility by guiding you to produce content that truly meets the needs of your consumers, because they are so close to reality and people ARE YOU AN INFLUENCER ?
  16. 16. Product Launch How can we generate buzz and drive interest for a new product? Brand Awareness How can we increase share of voice and boost positive brand mentions? Lead Generation How can we follow prospects and generate high quality leads? Crisis Management How can we reduce the negative impact of a communications crisis? When would you need it in your marketing plan 1   2   3   4  
  17. 17. INFLUENCER MARKETING THE MODEL
  18. 18. INFLUENCER IMPACT REACH AUDIENCE SIZE ENGAGEMENT RESONANCE POWER RELEVANCE CONTEXTUAL FIT
  19. 19. INFLUENCER SEGMENT CELEBRITY AUTHORITY CONNECTOR PERSONALITY ANALYST ACTIVIST EXPERT INSIDER AGIATOR JOURNALIST HOUSEHOLD HACKERS … My online audience is the size of Texas My opinion is worth more than gold in my space I like to connect dots and create links my name is my equity I form and communicate credible insights My belief makes me move mountains I wrote a textbook on my subject I’m an respected authority with an agenda I stir the pot and create healthy debate I have quick solutions to everyday issues I research, analyze and report
  20. 20. 8 THINGS INFLUENCERS CAN DO FOR YOU REACH ENGAGEMENT LOW RELEVANCE HIGH RELEVANCE Celebrity Connector AnalystCreative Personality Authority JournalistInsider
  21. 21. What’s your unfair advantage?
  22. 22. What’s your Unfair Advantage Product Differentiation Customer Responsiveness Operational Competence Product Leadership Build a better product, for which customers will pay a premium Customer Intimacy Solve the client’s broader problem & share in the benefit Operational Excellence Achieve the low cost position on product and service support
  23. 23. WHO DID IT BEFORE ?
  24. 24. WHY STORYDOING?
  25. 25. LESS SPENT ON PAID MEDIA MEDIA SPENT AS % OF ANNUAL REVENUE Storytelling companies spend nearly 3x more on media as a percent of revenue than Storydoing companies 4,0% 1,4% 3,4% 2,8% 2,9% 2,7% 1,1% 1,0% 1,2% 1,0% 2011201020092007 2008
  26. 26. MORE SOCIAL AWARENESS NUMBER OF SOCIAL MEDIA MENTIONS 2008-2011 (MILLIONS) Storydoing companies are mentioned much more in social media conversations 44% 0,3% 9,9% 27,6% 1,9% 2,2% 2011201020092008 STORYTELLING STORYDOING 2,8% 0,8%
  27. 27. BETTER FINANCIAL PERFORMANCE REVENUE GROWTH RATE (2007-2011) 0% 2% 4% 6% 8% 10% 12% Storytelling Storydoing OPERATING INCOME GROWTH RATE (2007-2011) 0% 2% 4% 6% 8% 10% 12% Storytelling Storydoing 14% 16% 18% Storydoing companies outperform storytelling companies in toppling sales… And in finding better ways to reduce costs and optimize assets1 2
  28. 28. HIGHER VALUATIONS STOCK PRICE CAGR (2007-2011) Storydoing stock price growth demonstrates the value created trough their actions -6% -4% -2% 0% 2% 4% 6% Storytelling Storydoing
  29. 29. The luxury goods industry is shifting focus from which markets drive growth to which channels drive growth.
  30. 30. KEY FINDINGS FOR THE LUXURY GOODS INDUSTRY We analysed the social activity of 10 giants of the luxury goods industry in a head to head format based on three main social media platforms; Twitter, Facebook & Instagram. here are a few key findings:
  31. 31. LOUIS VUITTON IS TOP DOG IN THE LUXURY INDUSTRY DOMINATING IN TERMS OF FOLLOWING AND ENGAGEMENT ON ALL SOCIAL NETWORKS 1  
  32. 32. DIOR GAINED OVER 1.7 MILLION FOLLOWERS ON INSTAGRAM IN UNDER 3 MONTHS THANKS TO THE INVOLVEMENT OF WELL-CHOSEN CELEBRITIES 2  
  33. 33. TESLA DOMINATES FERRARI ON WITH FEWER POSTS AND A SMALLER AUDIENCE BUT OVER 68% OF SHARE OF VOICE 3  
  34. 34. OVER 75% OF TAG HEUER AND HUBLOT’S POSTS ON BOTH TWITTER AND FACEBOOK ARE PICTURE- BASED 4  
  35. 35. QUALITY OVER QUANTITY THE MOST IMPORTANT ELEMENT FOR LUXURY BRANDS ON SOCIAL MEDIA SEEMS TO BE THEIR STORYTELLING ABILITIES WHEN IT COMES TO THEIR PRODUCTS AND BRAND HERITAGE 5  
  36. 36. BATTLE FERRARI VS TESLA
  37. 37. The first Ferrari car was made in 1947 while Tesla Motors has been around for less than thirteen years. Yet it is Tesla that been on twitter the longest. FERRARI TWEETS TESLA AWAY MOST TWITTER FOLLOWERS (902.689) BEST ENGAGEMENT PER SINGLE POST (2.097) MOST ACTIVE ON TWITTER (259 tweets) MOST OVERALL ENGAGEMENT (29.000)
  38. 38. Tesla leads for the most engagement for a single tweet, with his video tweet of its assembly line Tesla is most popular in English speaking countries, while Ferrari has a more international audience
  39. 39. While Tesla currently has a much bigger audience on Twitter Ferrari managed to achieve higher levels of overall engagement
  40. 40. In general Tesla seems to put more thought into how to present their brand on social in interesting and innovative ways The Twitter account of the Ferrari Formula One Team is more successful than the brand’s official account Ferrari is succeeding in expanding their social presence to regions beyond Europe Ferrari’s tactic of posting pictures showing brand heritage worked particular well on Facebook, where their level engagement is very high for pictures Tesla generated this with pictures and video posts - highlighting the innovative features of Tesla cars Tesla generates fewer posts but with more engagement and therefore more presence
  41. 41. KEY LEARNINGS FOR LUXURY BRANDS
  42. 42. THEY ARE FINDING NEW WAYS TO TELL THE STORY ON SOCIAL MEDIA AND TO INVOLVE THEIR FANS IN THE STORYTELLING 1  
  43. 43. THE KEY TO SOCIAL MEDIA SUCCESS SEEMS TO BE MAKING THE MOST OF SPECIFIC EVENTS. INFLUENCER MARKETING ALSO PLAYS AN IMPORTANT ROLE IN THE STRATEGIES OF THE LUXURY PLAYERS 2  
  44. 44. AS A WHOLE, LUXURY BRANDS SEEMS TO PREFER TO RESTRICT THEIR NUMBER OF MONTHLY POSTS AND FOCUS ON CREATING HIGH QUALITY CONTENT THAT THEY CAN CUSTOMISE FOR EACH SOCIAL MEDIA PLATFORM 3  
  45. 45. USING SOCIAL LISTENING, LUXURY BRANDS CAN: Find key Strategic Insights by performing detailed social analysis of the preferences of regional audiences Identify and measure the performance of their key influencers & social media campaigns in specific countries and languages Uncover new ways of getting more ROI from social by examining the tactics of others in the industry Improve social strategy by getting a deeper understanding of the posts that perform best on each platform
  46. 46. The luxury industry is one of the most competitive in the world, and social media is the newest battleground to develop loyalty and brand heritage, as well as to reach new segments of potential customers, using in depth social media analytics.
  47. 47. THANK YOU
  48. 48. CAROLE LAMARQUE carole.lamarque@duvalunion.com +32 478 33 7000 @caroberry   FOLLOW ME ON TWITTER

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