Importance of including Social Media in a company’s marketing media mix:
“Consumers of luxury/premium goods are making more purchasing decisions online. The brands need to be where their Customers are.”
A media package without a comprehensive web exposure is archaic.
Social media’s importance received two important endorsements in Protected content .
• Time Magazine’s editors named “You” as its Person of the Year, the annual honor given to someone who "for better or for worse, has done the most to influence the events of the year”. The magazine stated that “You” were selected: “for seizing the reins of the global media, for founding and framing the new digital democracy, for working for nothing and beating the pros at their own game.” 1
• Advertising Age magazine named “You” its “Agency of the Year” for Protected content . They acknowledged that this is a time of tremendous change in the way companies communicate with consumers. They stated that “marketing world leaders declared that it's time to give up control and accept that consumers now control their brands.” 2
Now we are in an era where companies must take action. The reach and influence of social media is only going to grow.
Podcasting is a part of traditional media’s plan to stay relevant. Several TV shows use podcasts to further connect with their audiences. A good example is the Sci-Fi Channel, which offers a very large series of online videos and podcasts that build interest in the show.
The influence traditional media and marketing have over consumer perception is waning as people migrate to the variety of social media technologies for entertainment and to share information with each other. But these social media outlets are more than another media source through which to deliver messages to the marketplace. Prominent brands like GM, Microsoft, Intuit and Starwood are
Successfully using social media and marketing strategies to understand and engage their audiences more deeply – with demonstrable business results.
“30 percent of frequent social networkers trust their peers’ opinions when making a major purchase decision, but only 10 percent trust an advertisement,”
- Emily Riley, Jupiter Research
On the surface there are a lot of similarities between most Brands. Luxury brands demand a premium but why? With 98% of the Ultra High Net Worth Protected content liquids assets or greater) being self made these new consumers rely on current media sources to learn about brands. The very wealthy have the highest response to the opinions of individuals they perceive of being in their social circle. Lorre is a respected name and her podcasts are like a friend sharing knowledge about the best of the best in all aspects of luxury, from one member of the inner circle to the other.
All brands need to define themselves and explain the unique qualities of their products or services at every price point. For example, why choose one watch over another? Depending on whom you talk to, you can get a myriad of reasons … and that’s where podcasting can come in. Through a podcast, a luxury brand can teach clients and potential customers how to get more value, what distinguishes one brand from another, why their product is unique, what people of their own circles are wearing. Podcasting offers walk-away brand extension, the ability not just to promote a brand, but also to show people how other people are using the product.
What is podcasting?
Video podcasting is the latest most cutting edges in the social networking. A podcast is just a video that you watch off the web instead of a TV. The podcast world has grown up and now even has its own LUXURY CHANNEL. Media on demand allows you to learn and enjoy the great art in luxury at your convenience. Downloadable media is expected to replace programmed network TV in 5 years. The web based media is the frontier, the future, the place all companies need to be. This medium of the future has now arrived at the level of TV & magazine in both quality of production and content. Now is the time for Brands to make claim in this new frontier.
Podcasting is an intimidating word that just means "on demand viewing" at your computer or you can download it to your cell phone or iPod. There is a vast library of topics. The length of podcast varies widely but less than 5 minutes seems to be the most viewer popular. Podcasts or “on demand viewing” allows viewers to watch those things of interest at any time that is convenient to the viewer whether that is late at night or on the train to work or entertaining themselves on long flights with topics they are interested in. Most podcasts are free to the viewer. Because viewers down load only podcast topics of interest, it make advertising on podcasts a more targeted advertising group. Lorre’s Luxury Channel is a featured channel on iTunes the world’s largest directory. (Featured is like prime time on network TV.)
Where are Podcasts found?
iTunes is the world’s largest directory with a vast library of topics. The length of podcasts varies widely but less than 5 minutes seems to be the most viewer popular. On The Luxury Channel shows are kept as close to 5 minutes as the topic and information allows, but always on longer shows remain under 10 minutes. Podcasts, “on demand viewing” or “video on the web”, allows viewers to watch those things of interest at any time that is convenient to the viewer whether that is late at night or on the train to work or entertaining themselves on long flights with topics they are interested in. Most podcasts are free to the viewer. It is easy to understand why this medium is growing so rapidly with the end users.
Zune is a directory launched in Protected content Adobe & Microsoft. They admit that they expect it to take 10 years to reach the massive size of content & distribution of iTunes. The Luxury Channel can be found on both directories.
The podcast world has grown up and now even has its own luxury channel on iTunes. This medium of the future has now arrived at the level of TV & magazine in both quality of production and content. The number of new podcast viewers in increasing rapidly
The Influential Power of Social Media:
• 77% of online shoppers read consumer product reviews and ratings before making a purchase
• $2 billion of online travel purchases a year are affected by social media
• 24% of online car shoppers have changed their mind about a vehicle purchase based on social media
The internet is abundantly rewarding first movers. A-list bloggers and podcasters are accruing disproportionate shelf-space on search results, and there are some who argue that even in an open-source/open-expression world, the late-to-market little guy will never leapfrog the "A-listers."