Surveys have shown that luxury consumers spend more time and money online than the average consumer. No wonder, then, that marketers of luxury products and services are expanding their focus on digital marketing in 2013.
eMarketer recently reported the results of a study by Worldwide Business Research and ShopIgniter that polled more than 130 worldwide luxury marketing executives. Some 85 percent say they plan to increase their digital marketing spending in 2013. Of those, 72 percent are planning to spend more on social media, making social the biggest overall area of focus.
The most popular social media platform for luxury marketers is Facebook, where 95 percent of luxury marketers are actively engaging with their customers. Next most popular is Twitter, used by 85 percent; then come Pinterest (used by 60 percent) and YouTube (used by 59 percent).
In fact, Luxury marketers are more likely to engage with customers on Facebook, Twitter, Pinterest and YouTube than they are on ecommerce sites. However, more than half (52 percent) are connecting with customers on ecommerce sites as well.
Since luxury products tend to be highly visually focused, it’s perhaps not surprising that luxury marketers are using visual-focused social sites to reach out to customers and prospects. As mentioned, Pinterest and YouTube have high penetration, and even relative newcomer Instagram is used by 29 percent of luxury marketers.
Luxury marketers’ top content and product promotion tactics were posting images of products (81 percent), posting video (75 percent) and creating content about new product launches (60 percent).
One surprising area where luxury marketers are falling short is in their mobile presence. While the visual focus of luxury marketers could make it a challenge for them to translate their marketing efforts onto the smaller screen of smartphones, the crisp displays of tablets should be a natural for luxury marketing imagery. Still, just 35 percent of luxury marketers report using mobile apps, while a mere 26 percent say they currently use mobile commerce.
Another area of untapped opportunity for luxury marketers, according to the survey, is loyalty programs. Only 20 percent of companies currently use loyalty campaigns to reward customers.
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Image by Flickr user Mauro Cateb (Creative Commons)