I started following Dave Karpen’s articles on LinkedIn this week. His opinions are always spot-on and today’s article is no exception.
The Luxury Goods industry is relatively new to the social media phenomenon. Can you think of any luxury goods who heavily utilizes all streams of social media? I myself can only account for a few, Burberry, Bergdorf’s, Saks, just to name some.
Can you imagine how much revenue the industry will make if they knew how to utilize these networks?
I know that some companies prefer the traditional way to reach out to their customers. But who’s to say if the traditional way is actually reaching ALL of your customers? The world today is a very digital-centric and if you know how to develop your communication/marketing strategy for the short and long term to accommodate this, you will be at the forefront of your competitors and of the industry.