Luxury brands can no longer stay away from social media. In recent years, the internet has come to play a growing role in the decision-making process of luxury shoppers, with 44% of all luxury sales being influenced by internet research or social media buzz (Mc Kinsey 2014).
As a result, all major players from the luxury industry have started posting on the main social media platforms, from Twitter to Instagram. Despite their relatively recent involvement, luxury brands attract many more fans than many regular consumer brands, with giants such as Louis Vuitton amassing over 18 million followers on Facebook alone.
“The luxury goods industry is shifting focus from which markets drive growth to which channels drive growth. Brands are waking up to a stark reality: the equity that took decades (if not centuries) to build does not transfer proportionately online.” L2’s 2015 Fashion Digital Report
How does this translate to social media? We used Talkwalker’s social media analytics to analyze the different methods used and determine which luxury brands are most effective in creating interesting and shareable content that resonates with their brand message.
In this case study, we analyzed the social activity of 10 giants of the luxury goods industry in a head to head format based on three main social media platforms - Twitter, Facebook & Instagram - to determine which luxury brands have gotten off to the best start in 2016 (Jan. 1 – Feb.15). The match-ups are as follow: Dior vs Chanel, Louis Vuitton vs Coach, Ferrari vs Tesla, Hublot vs Tag Heuer and Cartier vs Tiffany. Here are a few key findings:
- Louis Vuitton is top dog in the luxury industry dominating in terms of following and engagement on all social networks
- Dior gained over 1.7 million followers on Instagram in under three months, amassing double the engagement of larger rival Chanel on the social platform, thanks to the involvement of well-chosen celebrities
- Tesla dominates Ferrari on Facebook with fewer posts and a smaller audience but over 68% of share of voice
- Over 75% of Tag Heuer and Hublot’s posts on both Twitter and Facebook are picture-based
- Quality over quantity: the most important element for luxury brands on social media seems to be their storytelling abilities when it comes to their products and brand heritage, rather than the number of social media posts.