Published on December 31, 2022 by Elisa Crippa
Translated by Sinéad O'Sullivan
What are social networks and social media?
Social media marketing has the potential to achieve outstanding results if used in the right way.
Social media are web portals created for users to interact. They are focused on the exchange of information and content and socialization between two or more parties. The connections created thanks to these tools allow you to create social networks to establish links between users. Each user has a social profile, which contains some personal data and photographs that allow other users to find and recognize them.
The terms social media and social networking are often used interchangeably, even though they have two different meanings. Social media is the digital tool used to create and share content. The social network, on the other hand, indicates the effective network of contacts and relationships created thanks to these online platforms.
In addition to creating social networks, these sites are also used to exchange information that travels very quickly, with the possibility of checking it from anywhere with an Internet connection and responding in real time from any device.
Luxury marketing: how it has changed over time
During the first years of digitization, the luxury sector's approach to the web was marked by a top-down and static approach. Over time, the luxury sector has gradually moved away from this traditionalist model.
In the early days, social networks were used from a purely functional point of view, aimed at speeding up and facilitating the dissemination of information that would have led to offline and online purchases.
Later, however, this one-way communication model from companies to consumers radically changed in favor of an approach that enhances the relationship between brands and users. Nowadays, companies in the luxury sector create, distribute, and share content that tells the story of the brand, which brings consumers into the world of luxury, offering them a look "behind the scenes".
Users have become an integral part of the luxury marketing strategy, as they are directly involved in conversations with the brand. The affirmation of digital technologies has certainly imprinted a radical change in the customer's journey and in the latter's relationship with the brand.
Consumers today expect that across all these different digital touchpoints, the relationship with the brand will be continuous and consistent. The digital strategy of luxury therefore has a customer-centric logic.
This means that it places the consumer at the center, guaranteeing them optimal pre- and post-purchase assistance, listening to their needs and offering a state-of-the-art product and service.
The advantages of social media for luxury marketing
Digital now plays a role of primary importance within luxury marketing strategies. It has reached such a level and can overcome the opposition between the typical exclusivity of the luxury product and educating on the identity of the brand by transmitting its value to a larger number of subjects. Here are the main advantages that can be drawn from the use of social networks:
1. Strengthen brand awareness and identity
Social networks are a great way to present to the public the identity, the set of values of one's company, the introduction of new products or services, or the latest news in the luxury sector. By taking advantage of social platforms, it is possible to bring out the unique aspects that differentiate your company from its competitors.
2. Increase the engagement of your community
Through the creation of a digital marketing strategy shaped on the characteristics of your target, with an editorial plan full of useful and interesting content, it is possible to increase user involvement. In fact, nurturing these relationships constitutes an important loyalty mechanism, increasing your ROI especially in the long term. Customer loyalty serves precisely to strengthen the relationship between the company and customers, encouraging them to buy their products and/or services again.
3. Influencing purchasing decisions
Luxury brands are trendsetters of excellence. Many users use social platforms to discover the latest industry trends and to stay up to date on them.
Owning a corporate social page allows you to influence your audience about new trends and their purchasing decisions. Increasing your pool of influence through an adequate digital strategy guarantees greater power of influence on your community.
4. Maximize the conversion rate
The conversion rate is the value that indicates the percentage of users who have performed or are performing a certain action. Sometimes it is triggered by a call to action, on a blog or website. Knowing the conversion rate is very important because it is useful for understanding whether the marketing strategy adopted is paying off or not.
A well-structured digital strategy guarantees an increase in this rate. This objective can be achieved by activating targeted paid campaigns, intended for a precise and defined audience, inviting these users to visit your e-commerce or website.
The experience of digital luxury is closely linked to the quality of the services offered, such as logistical assistance or customer care service. These represent a fundamental component of the brand's offer. In fact, the main objective of the luxury brand is to guide and assist the customer throughout the purchasing process, online and in store.
Quality services coupled with perfectly optimized multi-platform content represent the key to a successful digital communication strategy, capable of telling the exclusive identity story of luxury brands.