If your brand’s identity is based on a reputation of prestige, impeccable service and exclusivity, you might ponder how to maintain that image in the recent era of social networking.
Many luxury brands fear to take any step that might cheapen their prestige and affect their reputation.
Previously the luxury industry was rather ignorant of social media. Executives saw it as not very useful, risky or even a threat.
This might not sound surprising, as luxury is often created by scarcity, exclusivity in sales, and by distance between a brand and its customers.
Social media, on the other hand, is all about reaching as many people as possible. It encourages diversity, lets individuals engage, interact and share their experiences with any brand or person anywhere in the world. In fact, the digital generation has completely different expectations from brands.
As such, personal dialogue seems threatening for a high-end brand, because the more they engage, the more the brand risks losing their high profile reputation. However consumer behaviour has also changed over the years.
Luxury Consumers Also Visit Social
Reports show that high-end consumers are far more likely to communicate via social media than non-high-end consumers and luxury brands need to target them accordingly.
In particular, affluent consumers (with an income of <$250,000) who plan to buy luxury products use digital platforms to communicate, with almost 70% of specifically using social media.
With the help of social media brand can amplify their message. Monitoring conversations gives luxury brands the chance to gain better insights into what their customers like — and dislike.
As you discover the topics of conversation of your target audience, you can improve your position and reputation as a luxury brand.
When you’re launching a new luxury product, analysing social media to gauge opinion should be on top of your marketing plan. It provides brands with tangible, measurable and actionable insights.
Avoid Reputation Damage
A brand’s reputation is an invaluable asset. For high-end brands in particular, unimpeachable reputation is essential. If it falls down a spiral of negative PR coverage, a luxury brand risks losing the brand’s goodwill, which may have taken decades to build.
Right now, ignoring online negative mentions isn’t a solution anymore. Managing your reputation, both offline and online, must at the centre of your strategy for brand reputation management.
Keeping It Exclusive
Ultimately, as a brand you can make the most of the social space without compromising your exclusivity. Sometimes luxury brands don’t get that being present and accessible online doesn’t mean you have to give up your reputation status. The brand can be accessible but reserved, unique and calculated at the same time.