This is a post jumped out at me the other day, only because I'm currently coaching an individual that deals with lifestyle products for high net-worth clientele. I think the author has some good points, and she's mirrored some of my own thoughts on whether social media can be a useful tool for those of us dealing in the luxury markets. What do you think?
Are Luxury and Social Media Incompatible?
As an industry that is known for avant-gardism, innovation and
creativity, it may not be immediately apparent why luxury brands and
social media have been locked in a love-hate relationship. Luxury brands
have been afraid of the big bad wolf of social media and it does not
seem as if luxury brands are the trendsetters in regards to this
revolutionary phenomenon – rather luxury brands are driving behind in an
old-fashioned rusty car. The luxury industry shows little or low
commitment towards integrating social media, and we propose that most of
the hesitation is caused by extreme contradictions between luxury
brands’ way of being managed strictly from the inside versus the way consumers define the brand from the outside on social media. Read the entire post.