luxury and the social web
DESCRIPTION
A presentation looking at the impact of the social web on luxury brands.TRANSCRIPT
Luxury and The Social WebOne Alfred Place, 23rd September 2009
Presented by Gavin Williams
Co-Founder, Video VenturesKellie McSorleyManaging Director, Silksearch
Exhibit 1
RetailHead Office
sales & marketing channel
= a conversation
25.”Companies need to come down from their Ivory Towers and talk to the people with whom they hope to create relationships.”
The Social Web affect
customers are free to have their
own conversations in
online communities
RetailHead Office
Sales & Marketing Channels?
The Social Web For Business
• It’s always about the customer..– They want to talk to you– They want to talk to their friends about you– They want to talk to people they’ve never met
before about you
• Oh and…– They want to write about you– They want to publish videos about you– They want to write reviews about you
2 Challenges for Luxury Brands and Social Media?
Luxury implies a sense of exclusivity; that it isn’t for everyone. Online is an open
environment
A luxury brand needs to maintain the appropriate aesthetics and social media
platforms do not allow for this
The Real Challenge
• The Readiness of our Management teams to firstly endorse and then engage
• Hierarchical cultures
• Our marketing agencies
• Our current skill set
• (Whisper it..) Our Creative Directors!
Challenge 1 Do I know how to talk?
Who is Speaking For You?
LibertyDaniel @montyknits Guess what I'm holding in my hand, I'll give you a clue...it's just come back in and has bows
Montyknits @LibertyDaniel yayyyy! :) now, when can i get down? running a knitting class in covent garden on sunday....
LibertyDaniel @montyknits I'm about to sort out the stock on the website, so you can do it online if that's any easier?? I can just send you the new link
Montyknits @libertydaniel @libertylondon o pretty, pretty bows... http://www.montyknits.blogs... now off to show them off...!
LibertyDaniel @montyknits Yes! you got them, well done!
Montyknits @LibertyDaniel argh! all black bows gone! managed to slip in last night before going out to dinner. bare legs or boring black it is then...
LibertyDaniel @montyknits gutted! the black ones with the gold bows, yeah? if you can wait til Tues - i'll see if we can find you a pair??
Montyknits @LibertyDaniel yea! too late for the party, but will just give me an excuse to throw one myself! :) ta muchly
LibertyDaniel @montyknits Good weekend? I've just had a word with the buyer - we are out of stock, but they've been re-ordered - should be 7-10 days...
Montyknits @LibertyDaniel thank you so much for that, am in france this weekend, so no need for tights anyway! will be at the front of the q nxt wk...
LibertyDaniel @montyknits no worries, I'll tweet you when they're in
Turning a Conversation into a Transaction
Challenge 2 If we build it, will they come?
(Burberry, Gucci and Mercedes)
Burberry
Gucci
Mercedes Benz Social Network A Controlled Environment
Challenge 3Am I ready to lose control?
Challenge 4Do I have the time to go
looking for my customers…
Vs
Challenge 5Do I understand the
technology?
Understanding the Social WebA Structured Approach
Weare here
This is an internet map showing user activity
COLLECTORS CRITICS
CREATORSCAMPAIGNJOINERS
SPECTATORS
1 - Who is my Community?
Here’s your (creators)
• Bloggers• Video makers• Podcast creators
These are your (critics)
• Answers Yahoo• Reviews - Trip advisor• Changes to Wikis• Advice on products
The (Collectors)
• Adding tags to posts• Categorising content• Voting on content• Sharing content
The (Joiners)
• Updates on facebook• Retweets in Twitter• Pokes in facebook• MSN messages
The (spectators)
• Consumers• RSS readers• Blog lovers• Tripadvisor visitors• Podcast subscribers
The (inactives)
Yawn …
This is what is called the social eco system• Creators
• Critics• Collectors
• Spectators
• Joiners
• Inactive’s
2 - Listen…for Free
Listening = Research (2)
• Feedback on brand and products
• On brand associations
• On representations of the brands at retailers
• On whether your brand messages are getting across
• On the bad stuff as well as the good
3 - Learn
• What are their expectations of you?
• If you own retail stores, what are they saying about your staff
• If they trade online what are they saying about the efficacy of your site?
• What are they saying about the quality of your product?
4 - Before you Respond - Identifying the Talent
• Talking isn’t easy
• Do you have a Liberty Dan?
• Will using an agency help you learn?
• Will using an agency eventually expose you as a fraud?
• YOU NEED SOMEONE WHO GETS IT!
5 - Responding
• If someone has a gripe do you respond?– Yes if it’s reasonable– Yes if it could impact on how people see you– No if it’s sounding off (the curse of the web!)– Yes if you’re prepared to converse
• Your brand needs to set the level it’s comfortable with
• Your brand need people who know how to respond
6 - I can’t measure the ROI can I?
YES YOU CAN!!!
Your Business is Our Business!!
What’s Next?
•VRM?
•WAVES?
•TABLETS?
• @video-ventures• [email protected]• www.video-ventures.co.uk• Linkedin.com/Gavin07williams
• @silksearch• [email protected]• http://www.silksearch.com/ • linkedin.com/in/kelliemcsorley1