Insights on Social Media Monitoring for Luxury Brands: Facebook, Twitter, Blogs and Forums.

Major B2C companies should increase their marketing investments in On-Line activities in 2010 according to a recent survey completed by Forrester Research. Social Media should be the Big Winner.

Marketing Investments 2010 - Forrester Research
(*) Forrester Research – Global Marketing Leadership Online Survey (multiple answers)

However, the main question remains the optimal allocation of resources in Social Media Marketing: recruitment of a Community Manager, selection of specialized agencies, production of specific content?
One way to look at it could be to monitor actual behaviors of Social Media users in order to define priorities.

I have recently performed an in-depth analysis amongst 28 brands in the Luxury, Jewelery and Watchmaking industry based on Customer Centric MatrixTM methodology (using the monitoring tool Radian 6).

Social Media and Luxury industry: Blogs and Forums are still ahead.

  • “Traditional” Social Media Channels (Blogs and Forums) represent almost 80% of the content published on Luxury and Watchmaking brands
  • The second largest Social Media Channel (Twitter 19%) is the one where brands are the less present and active
  • 34% of brand related content is not supported by a Luxury Brand environment (Twitter and Forums)

Social Media Monitoring - Luxury Brands - Split by Media Type

3 major profiles of Social Media usage amongst the 28 Luxury brands analyzed

  • Active engagement (7 brands)
    Social Media content related to these brands reflects a very active involvement of brands and their communities of “Fans”. A regular and frequent follow-up of brands takes place mainly via Blogs and Twitter. Brands are usually present with an active presence through their Official Facebook page.
    Louis Vuitton communities  are a good example of this profile.
  • Passionate and Sharing (4 brands)
    Committed communities of passionate clients and fans are interacting regularly with their brand(s ). Moreover, they use all Social Media channels to discuss and share points of views.
    Breitling Fans illustrate well this profile.
  • Personal Involvement (17 brands)
    Posts related to these brands are mainly channeled by Blogs. It corresponds usually to individuals sharing their interest via Blogs dedicated to a sector (e.g. watchmaking) or a brand.
    Jaeger Lecoultre can illustrate this profile.
Social Media Monitoring - Luxury Brands - Split by User Groups

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The main conclusions of this analysis indicate some practical tips“Story Telling”Frequent publishingSpecific content initiated by the brand,synergies between Social Media channels are some of the critical success factors.

28 brands were monitored and analyzed in March/April 2010
The research sample includes the following sectors: leather goods, watchmaking, jewelery and accessories. The scope covers International leading brands, challengers and niche brands.

Methodology:

– Customer Centric Matrix combining quantitative and qualitative measurements
– Social Media Monitoring based on total number of posts (all languages and all regions) supported by Radian 6
– Social Media channels based on Radian 6 definition

Source: weblog.customercentric.org

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