Women’s Wear Daily
04.17.2014
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fashion-memopad

Survey Finds Execs Boosting Social-Media Spend

Nearly three-quarters of the luxury-brand marketing executives questioned expect to amp up social media further next year.

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SOCIAL SET: Almost four out of five luxury-brand marketing executives boosted their 2012 social-media spend over prior-year levels, and nearly three-quarters expect to amp up social media further next year. And whatever difficulties Facebook might have in attracting advertisers, these executives designated it as their top social-media outlet by a wide margin.

In a survey of about 60 luxury brands conducted by the Luxury Interactive unit of Worldwide Business Research, 78 percent of digital marketing executives working for luxury brands increased their social-media marketing spending in 2012, and 73 percent said they would do so in 2013. An even larger share, 81 percent, said their overall digital-marketing spend was above 2011 levels.

 

RELATED STORY: The Future of Facebook E-commerce >>


Among other findings of the preliminary study: 83 percent said they would choose Facebook if they were forced to choose only one social-media venue; 53 percent of luxury marketers reserve 20 to 60 percent of their overall media spending for the digital channel, and 75 percent said they are using video to engage fans and followers.

Luxury Interactive’s research covered companies engaged in a broad range of luxury goods and services, including electronics, travel and entertainment. Fashion participants included Barneys New York, Cartier, Chopard, Louis Vuitton, Tommy Bahama, Tory Burch and Tourneau.

Additional responses to survey questions will be collected at the Luxury Interactive conference to be held Oct. 15 to 17 at the Bridgewaters in New York. A spokeswoman for the group said that the sample would expand to about 100 respondents with the inclusion of conference attendees.

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