Image is everything to luxury fashion companies. Preserving prestige is what sets brands such as Gucci and Hermes apart from Gap and H&M. But that same elitism is keeping certain luxury brands from engaging in social media, one of the most powerful forms of marketing at the moment.
Luxury fashion companies are known for setting trends when it comes to their products, but their media preferences are surprisingly dated. Most prefer to simply buy ad space in publications where they can present—and control—their image in glossy two-page spreads. While traditional media will remain an important advertising vehicle for high-end fashion companies, social media needs to be part of the marketing mix too.
Why is it time for these companies to “get social”? Let’s start with the obvious and compelling numbers: About half of the U.S. adult population is actively using social media Web sites, according to a Travelers Enterprise market research study conducted in August. And, according to Facebook statistics, among the next generation of luxury consumers—Generation Y—96% are using social media. Twenty-seven percent of these folks also claim that their purchase decisions are influenced by information gleaned from these sites, according to a recent study by Hill & Knowlton.
Numbers aside, social media strikes at the heart of what luxury brands offer: passion. The ardent fashion fans who put their name on a waiting list for the latest Richard Prince bag from Louis Vuitton or pre-order their Chanel cocoon collection at the fall trunk show or stand in line to meet Miuccia Prada are the ones who are most engaged with the brand. They are also among the most loyal customers. Couldn’t we all use more of those these days?
Finally, here’s perhaps the biggest reason for luxury companies to jump into social media: Brand makers that don’t create their own conversation with their most passionate customers through social networks risk having a passionate consumer create that presence instead. Facebook and Twitter are cluttered with brand sites that weren’t created and aren’t maintained by marketers. And, what happens when brand makers don’t initiate the conversation? Two good examples can be found on @123dolcegabbana on Twitter and the Emporio Armani fan page on Facebook. Both feature fans boasting of their discount brand purchases and fashion critiques, but no voice from anyone who officially represents the brand.
Read More