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Why Market Luxury Goods Online?

A short summary on customer insights and market research data

Today’s luxury shoppers now use the Internet as a tool to find inspiration and to learn about luxury products or services. Across income and age, luxury brand websites, along with consumer review websites are frequently accessed to find information on luxury items before making a purchase.

The affluent group is also increasingly participating in social networking forums, allowing luxury shoppers to share their thoughts and opinions on luxury items. And when it comes to Internet advertising, they are comfortable with seeing online ads for luxury products and services and “clicking thru” to learn more and make a purchase. Read more

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Study Reveals: More Marketers Move Toward Engagement on Social Media

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Percent of FortuneGlobal 100 Companies With Social Media Accounts

Brands are moving from simply being present on social networks to taking a more active role on the sites

Companies and marketers are more comfortable on social networks and have started to engage more authentically and build communities with other users on the sites.

Burson-Marsteller, one of the leading PR companies, looked at the FortuneGlobal 100’s activities on Facebook, Twitter, YouTube, corporate blogs and other local microblogs and social networks around the globe for its “Global Social Media Check-Up 2011”. 25% of these companies worldwide are using all four major social media platforms: Facebook, Twitter, YouTube and blogs – an increase of 25% from 2010 – and 84% are on at least one platform.

Most companies are on Twitter, which saw a major growth compared to 2010, as 77% of companies around the world have Twitter accounts, up from 65% last year. Twitter might be emerging as the predominant social media platform used by corporations, although corporate Facebook pages have more “likes” than Twitter accounts have “followers.” Read more

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Social-media marketers beware: You can’t buy loyalty

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Facebook logo
Image via Wikipedia

Brands that boost their Facebook fan base by offering freebies and discounts to people who sign up could face a backlash in the not-too-distant future, warns Augie Ray. Social search engines are likely to find ways to weed out “fake” fans, just as conventional search engines learned to screen out “black hat” marketers who sought to manipulate their algorithms. “Brands hoping to help their social search engine relevance by amassing fans should take heed — the easy way may work for a while, but the authentic and hard way always wins in the end,” Ray writes.

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