78% Of Luxury Marketers Spent More On Social Media [Study]

In preparation for the annual Luxury Interactive taking place in New York city next week, ShopIgniter released some data from a new study that looks at the marketers spend their social media budgets when it comes to the luxury space. Based on the data, 78% of digital marketing executives for luxury brands reported an increase in social media spend for 2012, while 73% of those surveyed said they will increase social media spend again in 2013.

The goal of the survey is to establish an industry benchmark for digital marketers at luxury companies. Results will determine spending trends and marketing successes, as well as areas in need of further development and investigation in the luxury market.
In addition to revealing statistics about social media spend, the survey also uncovers trends in mobile commerce, overall marketing spend and more. A highlight of the findings thus far includes the following:

  • 81% of luxury brands surveyed increased their digital marketing spend in 2012 over 2011
  • 53% of luxury marketers surveyed reserve between 20% and 60% of their overall media spend for digital marketing
  • 83% of luxury marketers surveyed said if their business was forced to choose only one social media account to manage, they would choose Facebook
  • 75% of luxury retailers surveyed said they are using video to engage fans and followers