Social media for luxury brands

Isaac Mostovicz writes that luxury brands will continue to explore the potential of social media in 2011...

The efforts of mid-range brands to reach consumers through social media channels are well documented. However, social media’s association with inclusivity means that ‘exclusive’ luxury brands have been slow to explore its uses, but this looks set to change.

2010 saw the luxury market experience a digital tipping point. Many brands launched e-commerce sites, some experimented with Facebook and Twitter personalities (e.g. Burberry, Gucci), while a few went even further; streaming live runway shows at New York Fashion Week and enabling consumers to interact in real time, is just one example.

The fashion industry in particularly has been quick to recognize the potential of such interaction, and has driven the emergence of ‘crowd sourcing’. This allows an engaged consumer base to determine which products should be manufactured – the ultimate empowerment of the consumer.

My prediction is that luxury brands will this year look at how to capitalize further on the instant consumer connection that social media can facilitate. However, a recent report from Gartner revealed that 70% percent of social media campaigns will actually fail in 2011, highlight

ing that brands must carefully consider their strategy before executing a campaign.

Bookmark and Share