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Luxury and the Social Web

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A presentation looking at the impact of the social web on luxury brands.

Published in: Business, Technology
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Luxury and the Social Web

  1. 1. Luxury and The Social Web One Alfred Place 23 rd September 2009
  2. 2. Exhibit 1
  3. 8. Retail Head Office sales & marketing channel = a conversation 25.”Companies need to come down from their Ivory Towers and talk to the people with whom they hope to create relationships.”
  4. 9. The Social Web affect customers are free to have their own conversations in online communities Retail Head Office Sales & Marketing Channels?
  5. 10. The Social Web For Business <ul><li>It’s always about the customer.. </li></ul><ul><ul><li>They want to talk to you </li></ul></ul><ul><ul><li>They want to talk to their friends about you </li></ul></ul><ul><ul><li>They want to talk to people they’ve never met before about you </li></ul></ul><ul><li>Oh and… </li></ul><ul><ul><li>They want to write about you </li></ul></ul><ul><ul><li>They want to publish videos about you </li></ul></ul><ul><ul><li>They want to write reviews about you </li></ul></ul>
  6. 12. 2 Challenges for Luxury Brands and Social Media? Luxury implies a sense of exclusivity; that it isn’t for everyone. Online is an open environment A luxury brand needs to maintain the appropriate aesthetics and social media platforms do not allow for this
  7. 13. The Real Challenge <ul><li>The Readiness of our Management teams to firstly endorse and then engage </li></ul><ul><li>Hierarchical cultures </li></ul><ul><li>Our marketing agencies </li></ul><ul><li>Our current skill set </li></ul><ul><li>(Whisper it..) Our Creative Directors! </li></ul>
  8. 14. Challenge 1 Do I know how to talk?
  9. 16. Who is Speaking For You?
  10. 17. LibertyDaniel: DON'T get your legs out for the lads... http://bit.ly/iS4Wn
  11. 18. LibertyDaniel @ montyknits Guess what I'm holding in my hand, I'll give you a clue...it's just come back in and has bows Montyknits @ LibertyDaniel yayyyy! :) now, when can i get down? running a knitting class in covent garden on sunday.... LibertyDaniel @ montyknits I'm about to sort out the stock on the website, so you can do it online if that's any easier?? I can just send you the new link Montyknits @ libertydaniel @ libertylondon o pretty, pretty bows... http:// www.montyknits.blogs ... now off to show them off...! LibertyDaniel @ montyknits Yes! you got them, well done! Montyknits @LibertyDaniel argh! all black bows gone! managed to slip in last night before going out to dinner. bare legs or boring black it is then... LibertyDaniel @ montyknits gutted! the black ones with the gold bows, yeah? if you can wait til Tues - i'll see if we can find you a pair?? Montyknits @LibertyDaniel yea! too late for the party, but will just give me an excuse to throw one myself! :) ta muchly LibertyDaniel @ montyknits Good weekend? I've just had a word with the buyer - we are out of stock, but they've been re-ordered - should be 7-10 days... Montyknits @LibertyDaniel thank you so much for that, am in france this weekend, so no need for tights anyway! will be at the front of the q nxt wk... LibertyDaniel @ montyknits no worries, I'll tweet you when they're in Turning a Conversation into a Transaction
  12. 20. Challenge 2 If we build it, will they come? ( Burberry, Gucci and Mercedes)
  13. 21. Burberry
  14. 23. Gucci
  15. 25. Mercedes Benz Social Network A Controlled Environment
  16. 26. Challenge 3 Am I ready to lose control?
  17. 31. Challenge 4 Do I have the time to go looking for my customers…
  18. 32. Vs
  19. 33. Challenge 5 Do I understand the technology?
  20. 36. Understanding the Social Web A Structured Approach
  21. 37. We are here This is an internet map showing user activity
  22. 38. What’s Right for You - Choose Your Level of Engagement
  23. 39. COLLECTORS CRITICS CREATORS CAMPAIGN JOINERS SPECTATORS 1 - Who is my Community?
  24. 40. Here’s your (creators) <ul><li>Bloggers </li></ul><ul><li>Video makers </li></ul><ul><li>Podcast creators </li></ul>
  25. 41. These are your (critics) <ul><li>Answers Yahoo </li></ul><ul><li>Reviews - Trip advisor </li></ul><ul><li>Changes to Wikis </li></ul><ul><li>Advice on products </li></ul>
  26. 42. The (Collectors) <ul><li>Adding tags to posts </li></ul><ul><li>Categorising content </li></ul><ul><li>Voting on content </li></ul><ul><li>Sharing content </li></ul>
  27. 43. The (Joiners) <ul><li>Updates on facebook </li></ul><ul><li>Retweets in Twitter </li></ul><ul><li>Pokes in facebook </li></ul><ul><li>MSN messages </li></ul>
  28. 44. The (spectators) <ul><li>Consumers </li></ul><ul><li>RSS readers </li></ul><ul><li>Blog lovers </li></ul><ul><li>Tripadvisor visitors </li></ul><ul><li>Podcast subscribers </li></ul>
  29. 45. The (inactives) Yawn …
  30. 46. This is what is called the social eco system <ul><li>C reators </li></ul><ul><li>C ritics </li></ul><ul><li>C ollectors </li></ul><ul><li>S pectators </li></ul><ul><li>J oiners </li></ul><ul><li>I nactive’s </li></ul>
  31. 47. 2 - Listen…for Free
  32. 48. Listening = Research (2) <ul><li>Feedback on brand and products </li></ul><ul><li>On brand associations </li></ul><ul><li>On representations of the brands at retailers </li></ul><ul><li>On whether your brand messages are getting across </li></ul><ul><li>On the bad stuff as well as the good </li></ul>
  33. 49. 3 - Learn <ul><li>What are their expectations of you? </li></ul><ul><li>If you own retail stores, what are they saying about your staff </li></ul><ul><li>If they trade online what are they saying about the efficacy of your site? </li></ul><ul><li>What are they saying about the quality of your product? </li></ul>
  34. 50. 4 - Before you Respond - Identifying the Talent <ul><li>Talking isn’t easy </li></ul><ul><li>Do you have a Liberty Dan? </li></ul><ul><li>Will using an agency help you learn? </li></ul><ul><li>Will using an agency eventually expose you as a fraud? </li></ul><ul><li>YOU NEED SOMEONE WHO GETS IT! </li></ul>
  35. 51. 5 - Responding <ul><li>If someone has a gripe do you respond? </li></ul><ul><ul><li>Yes if it’s reasonable </li></ul></ul><ul><ul><li>Yes if it could impact on how people see you </li></ul></ul><ul><ul><li>No if it’s sounding off (the curse of the web!) </li></ul></ul><ul><ul><li>Yes if you’re prepared to converse </li></ul></ul><ul><li>Your brand needs to set the level it’s comfortable with </li></ul><ul><li>Your brand need people who know how to respond </li></ul>
  36. 52. 6 - I can’t measure the ROI can I? <ul><li>YES YOU CAN!!! </li></ul>
  37. 53. Your Business is Our Business!!
  38. 54. What’s Next? <ul><li>VRM? </li></ul><ul><li>WAVES? </li></ul><ul><li>TABLETS? </li></ul>
  39. 55. <ul><li>@video-ventures </li></ul><ul><li>[email_address] </li></ul><ul><li>www.video-ventures.co.uk </li></ul><ul><li>gavin07williams </li></ul><ul><li>07745 863810 </li></ul>
  40. 56. “ The speed of personal communications means that brands have lost control of their images in the former 20th century style” 

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