It is unfortunate that some luxury brands treat social media as just another sales tool – or avoid it altogether. This is a Huge Mistake! Rather, luxury brands should view social media as the powerful engagement tools they are, enabling them (and you) to stay in touch with current customers, while boosting their reputation among those who aspire to the lifestyle they promote.For example, the Louis Vuitton Facebook page has over 23 million likes. It is highly unlikely that all of these folks are paying and loyal customers. Instead, a large portion of this community is an aspirational fan base; literally, the future of the company.Understanding this offers massive potential for lead generation, client acquisition, and engagement to those of us in the interior design and luxury furnishings industries.Affluent Consumers Use of Social MediaAccording to Warc.com, an online service that offers advertising best practice, as well as evidence and insights from the world's leading brands, 98% of consumers who planned to buy luxury and had a household income of at least $250,000 used digital platforms to communicate, with 71% of this group specifically using social media.What does this mean to marketers of luxury brands? It means that affluent consumers engage with social media platforms as much, if not more so, than do less prosperous consumers.Consumers of every income level employ a variety of online platforms to shop, get an expert opinion, to get support or to learn in general, to read reviews of products or services – and yes – to complain about those very same products or services. This means that “social influencers” can help you satisfy each of these client needs on different channels. They assist you in spreading your brand’s core values.Social Media Feedback Can Influence Buying DecisionsWhile it may be true that, as a luxury brand, you have exclusivity playing in your favor, reserved only for the exclusive few, scarcity. Social media, on the other hand, is all about opening your brand up and reaching the biggest audience possible. Luxury brands and social media are no longer incompatible!You can still make the most of the social space without compromising exclusivity.Just how important can social media engagement be for a luxury brand? According to MarketingLand.com, if your brand receives positive or negative feedback within the world of social media, it can have a profound effect. Don’t believe me? Take a look at these numbers:
- 90% of consumers who recalled reading online reviews claimed that positive online reviews influenced buying decisions
- 86% of consumers said buying decisions were influenced by negative online reviews
Social Media is like an amplifier for your brand message that allows you to tell the story of your brand while providing a behind-the-curtain look at what makes your brand so great. Why tell stories? Because stories often help to sell products. Storytelling is one of the oldest forms of marketing, and engagement. As humans, our brains are hard-wired to listen and like stories.Some strategies that luxury brands can utilize:
- Engage and Communicate – User-generated content creates a sense of ownership and direct engagement. Let your customers speak for you on how they love your products. Social media has become the 21st Century version of word-of-mouth marketing.
- Boost Brand Identity – Build a dialogue about the effort that goes into providing the best service possible or the quality craftsmanship that goes into your products.
- Target your Audience – Active social media engagement enables you to gain deeper insights into who your target audience is, as well as what your customers like and dislike.
- Manage your Reputation – Maintaining your image and reinforcing your brand is a large part of your marketing efforts.
Looking for more information on how to use social media to marketing your luxury brand? Check out these articles:
Are you promoting top-end services and luxury furnishings on social media? How has it worked for you? Share your experiences with us in the comments section below.Looking for more interior design marketing tips for your business, new home design trends, online marketing tips, and our luxury furnishing product lines? Get in touch with TD Fall today.