Digital Marketing and Social Media Marketing in Luxury Industry Essay

Digital Marketing and Social Media Marketing in Luxury Industry - Essay Example The emergence of digital and social media marketing have opened up new and exciting ways of branding. Specifically, luxury brands are the ones which have capitalized these relatively newer tools in a most decent and â€Å"luxurious† fashion to design their brand images. The affluent customers of these luxury brands have also joined in the social media sites and their dominating presence is effectively being utilized by the companies to attract the new customer and retain the loyal customers (Kerin, 2010). Reason of choosing the topic The reason of choosing this topic is basically divided into two broader areas such that one area pertains to a specific marketing strategy and the other area relates to the industry on which that marketing strategy is actually applied at. Digital and social media marketing is undoubtedly the most emerging and recent development in the overall marketing strategies whereas luxury industry is the one which faces the most crucial dilemma of getting al ong with this new area of marketing. Methodology This article is composed with a view to emphasize more on the development of digital and social media marketing specifically in the luxury industry. At the beginning, key definitions along with necessary explanations of the digital marketing, social media marketing and luxury industry are discussed. Second part of this paper highlights some brief statistics regarding the development of these marketing strategies in luxury industry.... Users hardly click on banner ads to browse the site of that brand or product, as he/she gets frustrated in getting along to all together to a new web page or new window (Bird, 2007). However, with the emergence of the concept of digital marketing, the orthodox online marketing tools are effectively put to wall as the new digital marketing strategies have replaced them in practical terms. With the invent of digital marketing, marketers especially are highly benefited such that they can track their marketing campaign rather on a wider scope such that they have the availability of real time tracking of marketing campaign (Ryan, 2012). They know that what is being viewed right now, how many times on average, a product is viewed in a day, the response rate of the customers etc. However, each marketing campaign is different from others and thus the feedback which the marketers obtain may remain quite different as compared to other marketing campaigns. 2. Social Media Marketing Social media marketing refers to those strategies in which the marketing campaigns of the companies are launched particularly on the social networking sites mainly including Twitter, Facebook, LinkedIn, MySpace, etc. The existing marketing companies on the social networking sites are gaining much momentum and success because these are the sites on which millions of users are present and it is more convenient for the marketers to catch their attention. Unlike the traditional marketing tools like TV, radio and other channels which are becoming less effective due to increase in number of channel, social media sites however are providing the largest avenue for the marketing companies to attract the