Monday, June 27, 2011

The Allure of Social Media in the Luxury Marketplace

We’ve discussed before how massive the digital movement is, and with so many mediums to communicate a message it’s no wonder that the luxury market has “struck it rich” in social media. How can you “strike it rich” too? Look no farther than some of the largest and most influential businesses in the fashion industry--Bergdorf Goodman Department Store, Breitling, Bvlgari, Diane von Furstenberg, Dolce & Gabanna, Ermenegildo Zegna, and Marc Jacobs.

By zoning in and breaking down the approaches of each of these brands, we can explore what is setting each apart from their competition. From there, we can adapt these strategies to fit your business model. But before we start analyzing, remember: social media is not learned overnight. With a few changes and adjustments to your current social media programs, your brand can blossom and develop. 

To start, we will focus on Bergdorf Goodman, the luxury department store that is always at the forefront of fashion and “high-class” living. Bergdorf focuses mainly on Twitter and Facebook, which are two platforms that in our opinion attract the greatest audience due to the high volume of participants. On these sites, the brand engages with it’s fans, posting everything from makeup tutorials to style tips of the day. By answering the questions of their followers and appearing more like a person than a large company, they are not only approached by their clientele but bombarded by them. 

Swiss watch makers Breitling and Italian Jeweler Bvlgari focus more on Facebook than any other medium, and they are darn good at it. Ever think of promoting contests, offering prizes and creating games for your fans? If not, you can learn from these fashion dynamos. Breitling pushed a “Spirit of Aviation” photography contest on Facebook in which fans of the brand submitted pictures in an attempt to win flying lessons with the Breitling flying team in Dijon, France. The contest was also connected to the legendary movie-star and flying-enthusiast John Travolta. By asking their fans to “link-up” with the contest and spread word to Facebook friends, the brand got even more attention and contest entries. In a similar instance, Bvlgari teamed up with a celebrity, actress Kirsten Dunst. An Enchanted Garden Facebook app was launched which provided links to its Facebook commerce microsite where consumers could purchase jewelry and fragrances. The interconnectedness of the app to the commerce site displays the importance of cross promoting. Have at least two forums to promote your company? Utilize both and gain traffic. 

Lastly, Marc Jacobs may be the most inventive designer in the digital world. The brand took their company one step further and aligned themselves with bloggers. Bloggers are no longer the up-in-coming freelance writers of the digital world, they have staying power. Bloggers are gaining designer sponsorships, partnering with magazines and becoming just as influential as timely designers. The designer bought “advertising on and held a photo-shoot with blogger Elin Kling to celebrate 10 years of the Marc by Marc Jacobs line.”  This social media move was so large that the Marc Jacobs website saw over 94,000 impressions after one day of advertising on Elin Kling’s blog! 

From these success stories it’s apparent that social media offers major opportunities to luxury firms. Whether your business is a corporation or a start-up, it is crucial that you entertain digital marketing. After all, luxury brands are selling not only products, but also a lifestyle, so engaging a client within his or her own lifestyle is imperative. Social media provides just the platform to do so.

Bergdorf Goodman makeup tutorial

DVF Facebook page

Marc Jacobs advertisement on blog

1 comment:

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