Jewerly Spakles this Holiday Season

The economic recession devastated the American luxury market, that’s no surprise. What is a surprise is the increased demand this season for perhaps the most quintessential luxury item: jewelry.

Some encouraging stats:

-The percentage of people who bought jewelry during “Black Friday Weekend”, Nov. 26-28, increased from 11.7 percent to 14.3 percent. That is close to a three percent increase.

-In a recent study from the National Retail Federation, the percentage of people saying they will be giving jewelry as gifts has increased from 18.4 percent to 20.3 percent.

-According to “Cotton Lifestyle Monitor” jewelry is ranked at number five as planned holiday gifts in 2010. Jewelry didn’t rank at all in 2009.

The jewelry industry may not draw out the 2 a.m. crowd on Black Friday, but the increase in jewelry sales this past weekend was felt immediately by both retailers and designers. It also helped spark optimism for the economy and retail sales in general.

“While Black Friday weekend is not always an indicator of holiday season performance, retailers should be encouraged that a focus on value and discretionary gifts has shoppers in the spirit to spend,” said Matthew Shay, National Retail Federation, president and CEO.

Looking at the bigger picture, the fact that people are looking at jewelry a lot more this holiday season could mean that American’s are ready to start spending on luxury items in general again. It might be possible that this is the first sign of the recession being a part of the past.

Stich up the wounds left by surgical shoppers

It’s no surprise that the economy has changed how people spend their money. Everyone has been pinching pennies and in turn became smarter shoppers. People have been working overtime and getting second jobs. Who has time to browse shops? Who is going to fall for the impulse buy when money was strategically placed elsewhere? The Great Recession may officially be over, but the changes that people made to their spending habits may in fact be here to stay.

The new type of shopping is referred to as “surgical shopping” because the time spent shopping in stores and online has dropped drastically. No one is taking the time to wander stores and browse through websites to stockpile on clothing, necessities, etc. Instead, people know what they want and aren’t sticking around after buying it. Shoppers today visit an average of three stores during a trip to the mall, according to ShopperTrak, a Chicago research firm that tracks sales and customer counts at more than 70,000 stores. That compares with an average of five stores in 2006. There is even evidence accounting for stores being messier due to people dumping most items right before the check out.

How are companies and brands adjusting to surgical shopping? Often, through the strategic use of social sites like Groupon.com. The site has attracted more than 25 million subscribers to “group” together to get the lowest price on an item. Subscribers are pitched local discount offers on restaurants, retailers, etc and if enough people take advantage of it, it takes effect. The Gap's recent Groupon offer of $25 off a $50 purchase was a blockbuster Gap’ sold 441,000 offers as part of a one-day only promotion in August, for a total of $11 million.

With this new type of shopper mentality, what’s the best way to get them in AND to leave with your product? To help capture their attention, this might be the time to step up your “social media” strategy beyond the typical Facebook and Twitter. Along with Groupon, foursquare is another great tool to utilize. Promotions through foursquare are coming up everywhere (more on foursquare). I myself came across a promotion while shopping in NYC. Walking into an H&M, there was sign on the door that said “Check-In here and receive a special discount!” With incentives like that, who wouldn’t check in? Companies like Wholefoods, Saks 5th Avenue and Starbucks have all partnered with foursquare as well.

The continued practice of surgical shopping is creating a new reality for brands. And websites like Groupon.com and foursquare are helping them embrace consumers’ new way of shopping.

You are only as strong as your weakest tweet

Tweet, Re-Tweet. Are we friends on Facebook? These are terms that have become a part of our everyday life. With all the social media websites available now, which one works best for you personally? Or for your business? Truth be told, Facebook, Twitter and LinkedIn can all be beneficial…if you understand how to use them correctly.

Recently, an editor at a B2B magazine wrote: “We still think Twitter is the dumbest thing ever.” Previous to this statement, Facebook and LinkedIn were praised for how successful they are as social media outlets. We were concerned to read such an unfortunate and misleading criticism of a tool that generates millions of dollars for companies who understand how to use it to its full potential. For businesses, Twitter can lead a new found success. Those 140-character statements can make a world of difference.

Here are just two success stories from using Twitter:

• Computer-maker Dell, an early Twitter adopter, offers its “followers” easily tracked Twitter-only discounts. These have generated US$3 million in sales, $1 million in the past six months.

• Blair Hirtle, sales coordinator for Fairmont Hotels, noted that the Fairmont Empress offered a special discounted room rate on Twitter. The result was “increased occupancy. Much more successful than any traditional ad buy and it cost minimal time and labor.” Now seven Fairmont hotels have Twitter accounts.

The secret to their successes? Using Twitter efficiently. Here are some tips to get yourself started in the right direction.

• Twitter gives companies the opportunity to personalize themselves with society. Consumers today tend to connect with people rather than organizations. Putting a face on a company can make it more real and personable. On Facebook, company profiles are made and then spread by “liking” the page. This doesn’t give quite the same personal touch and interaction that tweeting can.
• Listen. Twitter is not just about posting Tweets and walking away. What are people discussing? Who is mentioning your brand or category? Understand the conversation and participate in it.

• Follow people! The more people follow you, the more they know what you’re about. This works on the basic product selling and marketing point. Twitter has turned into a place where companies research about potential employees and consumers research about potential purchases. So, your tweets are giving the world an opportunity to learn more about you, your products, your knowledge and your specialty.
• As I mentioned before, sell your product, but your expertise. It is probably the most basic concept of the social media websites. Give useful information about what you do, your business specialty, and what you’re selling for all your followers to see.

As the most misunderstood of the social networking tools, Twitter is often the most criticized and ridiculed. But it is, conversely, also one of the most effective. The popularity of using Twitter correctly has spun off another website, twittergrader.com. Anyone with a Twitter account can check the grade of their account, be it 0-100. If your grade isn’t as high as you thought it would be, the site gives you tips on the bottom of the page on how to improve your Twitter grade. With the introduction of twittergrader.com it is even easier to turn your Twitter account into one of the “Twitter Elite” joining the ranks of The New York Times, Fox News and BBC World. Like they say, you are only as strong as your weakest tweet.

A Look at How Social Media Reinvented NY Fashion Week

New York fashion week not only rallied fashion lovers to New York for a worthwhile showcase of some of the best collections by well-known designers, but Fashion Week left a footprint in the digital age: using social media to help promote and expose the week-long events and happenings.

It seemed that no stone was left unturned on the path of social media to New York. Even if you could not make it to the tents in Bryant Park, just about anyone with an internet connection could make it to the tents virtually, thanks to, either Twitter, Facebook, Foursquare, Tumblr, YouTube and individual designer’s websites.

Between Thursday, September 9^th and Thursday, the 16^th more than 165,000 tweets were written about Fashion Week, making #nyfw a trending topic on September 10^th, also the day when more then 34,000 tweets were sent out from individual users. Designers even saw an increase in followers. Diane Von Furstenberg, who received upbeat and prize worthy reviews in print and online media, had an increase of 3,000 followers on Twitter. Foursquare offered promotions and Facebook allowed users to comment on looks cascading down the runways and Youtube offered videos of shows.

Fashion’s Night Out, an event that was originally designed to boost New York’s economy last year, debuted again on September 8^th in full force with social media. Livestream brought to life three different events including musical performances at Nine West and Ralph Lauren and a play-by-play of Juicy Couture’s designer Erin Fetherson styling tips to shoppers, all which could be viewed from laptops and desktops around the world. Some designers opted to integrate multimedia into their events. Diane Von Furstenberg, for instance, transformed her Washington Street location into DVF and HP interactive experience all designed by Refinery29 blog, offering the fashion community a chance to look at fashion favorites picked by Refinery29, which could be posted to Facebook by anyone in the store. Furthermore for the event, all fashionistas with an Iphone were able to download the LUSTR app, the official app for FNO. The application allowed users to navigate the event with an event directory with options of posting your locations thru your own personal Facebook, Twitter or Foursquare account.

The world of blogging also hit the Bryant Park tents hard this year. Not only were the seats filled with editors from the leading magazines, but bloggers even made their way to the front row. The evolution of blogging in the fashion sphere, really allows readers and fashion lovers alike to receive information about upcoming trends, the achievements and the downfalls of the week, which ultimately means that blogging is here to stay.

It seems like Fashion Week’s biggest trend was not on the runways this season but underneath everyone’s fingertips in the many sources of social media. Fashion Week’s integration of social media really opened up the doors for information exchange in this fast paced digital age. The versatility of social media left it marks on social media and it will be interesting to see the evolution of social media in the fashion and luxury market, from this point forward.

Learning to Master Crisis Communications

How important is effective public relations? Just ask (now former) BP CEO Tony Hayward.

Over the past couple of months we have seen a slew of events that have underscored the power of public relations. In light of these, crisis communication should now be on any business owner’s radar.

You have famed college basketball coach Rick Pitino, and his alleged ‘tryst’; Target versus the LGBT community; and finally, the event on everyone’s mind: the BP oil spill in the Gulf. In the latter case, Tony Hayward, the now former CEO has stepped down and will be replaced by Bob Dudley (who, might we say, has quite the task on his hands). A series of PR gaffes played a major role in Hayward’s downfall.

What every brand name and business owner needs to think about when following these events: what happened to BP can happen to you. Obviously, we are not talking oil spill/natural disaster stuff; we are talking about an event that challenges a company’s reputation and leadership.

So, what can we all learn from these public relations nightmares? In sum: you must have a crisis communications strategy so you can react quickly and efficiently. You’ll also want a knowledgeable PR pro on your side to represent and help guide you through these waters. Some things to keep in mind:

• Remain readily accessible to the media. Be ready to answer questions, have a designated person to speak on behalf of the issue.

• Streamline communication. Make sure all documents are clear, concise, pertinent.
  

• Maintain information security. Be sure that company documents aren’t accessible to the public but, at the same time: that you are not hiding anything.

• Support multi-channel communications. Send out press releases and take advantage of broadcast opportunities. Get savvy with a variety of communication tools like YouTube, Twitter, Facebook, Flickr and Blogs.
  

• Utilize Social Media. In this day and age, these tools can be your friend but also your worst enemy. Word to the Wise: never delete a nasty, harsh comment, it could do more harm then good. Instead, use the negative comment as an opportunity to explain your position; it allows you to engage the commenter to resolve their concerns.
  

• Show empathy for the people involved Reach out to the public by making appearances. Find time to answer their questions.

Crisis communication is an important tool for all companies to have in their ‘toolbox for success.’ Crisis communication strategies have helped companies such as: Johnson & Johnson back in 1982 when they had the cyanide scare, Exxon Valdez in 1989 when an oil spill happened in Alaska, Intel’s Math Flaw in 1994 and Jetblue in 2007 when they left passengers stranded on a airport runway in an ice storm. While each faced a tidal wave of public backlash, their response helped keep their brands from drowning in the fury. A strong crisis communication strategy will do the same for you should the worst happen.

Blogging Your Way To Success

Any ‘great’ company has one and any company that wants to be ‘successful’ has one. What is it, you ask? A blog (http://en.wikipedia.org/wiki/Blog.) But why do we blog? What is the point of one? We’re often asked: if my brand is already well known, what can a blog additionally do for my company? Our answer: A LOT. A blog is not an advertising vehicle for your company; it is a tool of communication that shows readers ‘something extra’ about your services, personalizes your brand, and offers insight into your area of expertise.

For example, we here at Miamore love our blog and, while we do some really amazing work, we are not simply going to put up blog entries outlining our achievements, or how innovative our work is. Why? Because those sort of posts don’t generate interest or build relationships—the main goals of a blog or any social media. In sum: it won’t get us (or any company) anywhere.

Instead of being promotional, it is best to provide readers with information that is not only enjoyable, informative, and personal; but also something that establishes confidence in the brand. For example, Southwest Airlines built up a blog when sales were down and they wanted to hear from consumers about what they could improve upon. So, their blog began with the CEO of the company discussing trends in the industry and allowed followers to comment. Did anyone read that blog and immediately log on to buy an airline ticket from Southwest? Probably not. But, has the brand become a household name? Definitely. Thanks in part to the open communication and dialogue by Southwest on that successful blog, the company grew into something bigger and better.

Have a hard time relating to a brand as large as Southwest? Well, for small business owners, we offer up ourselves as an example. Last week, Miamore’s president, Carrie Soucy, attended a trade show in New York. In two days she heard from at least a half dozen people (the majority of whom she did not know) how much they enjoyed our blog. Many others simply recognized our brand—no doubt in thanks to our active blogging. For a company like ours, only a year old and based in a different city, to receive—without having ever spent a penny on traditional advertising or marketing—responses like: “Oh! Miamore Communications!”… well, that’s quite a statement.

So where do we go from here to make sure that all company blogs steer clear of becoming too promotional? Here are some tips:

1. 1 Designate one person to oversee the blog. (Preferably not a junior staff member; however, if they have a great writing skills and an eye for news, then by no means limit them)

2. Promote your blog by featuring it in newsletters, having a link to it via Twitter, Foursquare, Facebook, Linkedin or website.

3. Talk about stuff other then your services. Like trends in the industry, developments and newsworthy stuff.

4. Be fun and have a conversational tone.

5. Encourage comments and be sure to respond to any you receive.

Foursquare:The Newest & Hottest Kid on the Social Networking Block

You already know the benefits of the now-mainstream social networking sites like Facebook, Twitter and YouTube--all phenomenal tools to engage clients and build a brand. But, if you're like many local businesses, you see the boost in engagement from those sites, but wonder: how do I translate it into actual foot traffic? Enter the newest (and hottest) kid on the social networking block: Foursquare. Why is this new tool growing so quickly? Mostly because it doesn't only drive traffic to your website, but actually drives customers to your doorstep.

Foursquare is a location-based social networking site that allows people to connect with friends and update their location via text message or by Smartphone. Teaming up with Twitter and Facebook (and now quite possibly Google, Microsoft and Yahoo- Creator Dennis Crowley is in talks with these search engine giants), this allows friends of foursquare users to be notified of their friend’s newest location (and in hopes that more friends will come and join). Foursquare not only promotes human interaction but also exploration of their surroundings. After checking in a certain number of times at a location, users earn badges and points for their location frequency or by discovering something new in their city. Users can find locations in the directory or from friends who are also on foursquare.

What separates Foursquare from Facebook, Twitter or Wikitravel, is that users are participating in a marketing game, by earning points and badges for their travels. This is where Foursquare gets interesting… Foursquare not only encourages people to wander through their neighborhoods, but with the help from local businesses they reward people for stopping in at their location. Business owners can use Foursquare to engage their clientele by offering specials, discounts and prizes for those who continue to update their location on Foursquare while at their venue. People who check-in to a particular location quite a bit are dubbed ‘mayors’ and are eligible to receive a discount, prize or special offer. Cool, right? An example: Cuban Revolution, a hip avant grade restaurant with two locations in Providence, R.I., gives a free sandwich and soda to all ‘mayors of Cuban Revolution’. The owners of business owners are not only being current and participating in a trend of pop culture, but they are also using Foursquare to track how their venue is performing over time due to venue analytics that are provided to business owners.
The best part: users who are checking into your location are doing some of the marketing and promotion for you to individuals who may never have even thought of visiting your store or restaurant. Talk about social networking.