According to a new survey of more than 100 marketers at major global luxury brands, marketers plan to increase digital media spend significantly in 2013. The survey, which was put together and distributed by Luxury Interactive and ShopIgniter, shows that 85% of luxury brand marketers will increase their digital spend and 72% will increase their social media marketing spend this year.
The team behind Worldwide Business Research’s Luxury Interactive conference, worked with ShopIgniter, the company helping many leading brands reach and convert their social and mobile customers, to craft a questionnaire covering topics like social media spend, product promotion, mobile commerce and customer retention. The survey was distributed before the October, 2012, Luxury Interactive conference, and also onsite at the conference in New York City. More than 130 marketing executives from luxury brands completed the survey, which asked questions about what digital areas they were spending on, which aspects of social media were working for them, what their spend plans for 2013 were, and more.
The goal of the survey was to establish an industry benchmark for digital marketers at luxury companies. Results to this study, revealed in this report, determine spending trends and marketing successes, as well as areas in need of further development and investigation in the luxury market. The roles of those answering the questionnaire ranged from Chief Marketing Officer to President to SVP of Direct Marketing, Manager of Social Media Marketing and CRM Director. Respondents represented companies like Chopard, Louis Vuitton, Barneys New York, Mercedes Benz and more. Executives across verticals shared valuable insight into their digital marketing efforts to create an effective benchmark for the industry.
The report’s results showed that with more affluent consumers flocking to social media, smartphones, and tablets, luxury marketers are committing more funds to digital marketing than ever before. The increases represent growth from 2011 to 2012, with 80% of respondents reporting that 2012 digital marketing spend exceeded 2011, and 77% reporting more budget was spent on social media marketing in 2012 than in 2011.
To see the full report, click the link here, and as always, give us your feedback!