I feel are some of the biggest opportunities for luxury brands to use social media:
- Find your biggest fans. Most luxury brands have a steady stable of hardcore fans. Often these are the people who buy the products frequently, but it could just as likely be the enthusiastic aspirational customer who dreams of one day buying your product. Luxury automakers have known this for a long time, using tools like social networking to make sure that teenage boys continue to dream of one day buying a Ferrari, so one day when they can afford one, they might.
- Create exclusive experiences. Exclusivity and luxury often go hand in hand. The nice thing about social media is that you have many opportunities to create things like exclusive private networks or special content that is only for customers or VIPs. The added benefit of this is that you can make those individuals feel engaged with the brand in a way that isn't open to the general public.
Tomorrow I am speaking at The Social Graph Conference about how brands can use blogs in their social strategy. n checking out what some of the thought leaders are saying, I came across this great post from Rohit Bhargava. A must read!
Looking forward to hearing an amazing line up tomorrow and thanks to Scott Galloway and the team at Luxury Labs for including me.