Social media transform marketing from a one-way street to a dialogue with customers. How can iconic brands leverage ever-changing new technologies? Is there really a “too far”--or only “not far enough”?
Is there's something Hip Hop and luxury brands has in common? You might think about Hip Hop as the music of the lower class with really inappropriate lyrics. But everything has changed in the last years. Internet as well as Hip Hop aren't the Wild Wild West anymore, both are gentrified, Mahbod Moghadam, Co-Founder of RapGenius, explains. And RapGenius can help to bring Hip Hop and luxury brands together.
With RapGenius you can discover the meaning of rap lyrics. Cooperations of rappers like Jay-Z with luxury brands like Hublot brought up a new idea: Fashion Genius, where Wikipedia and Twitter has a baby and get "IQ". Every mention of a brand shows a brand item like a Missoni couch with a lot of information around the product and the brand. Angela Missoni set up a verified account for it since Fashion Genius started one month ago to interact as her brand and to interact with (possible) customers.
Is there a better way to communicate with your current, future and not interest customer than social media? (Jean-Claude Biver)
Jean-Claude Biver, Chairman of the board of Hublot (luxury watches), is thrilled about this possibilities of digital communications. You can reach new customers, current customers, future's customers, and even the people who will never be customers. And you can talk about your brand, get information, and influence customers through Social Media. He is very honored to have a young son, aged 14, who told him to set up the mentioned cooperation with Jay-Z - and it was a brillant idea! Hublot designed an own watch Jay-Z mentioned in a song. He helped different times to promote Hublot - and not just the brand awareness is growing. Unusual for a luxury brand. Interesting idea: annotate your brand by collaborating with peers, competitors, consumers, and create a new brand (experience)!
This is a very good example of the new vertical penetration and gentrification - and how to explore new markets. Hip Hop became respectable. The same happened with football/soccer. Hublot started in 2006 and called crazy, but now it's quite normal to have luxury brands as advertising partners. Is this the new street art to spot trends?
But what's next? Creating your own smart watch at home using a 3D printer? Hublot's CEO says, a mechanical watch is a piece of eternity. How can I sell a smart watch, something that it obsolete in one year? Luxury watches are incompatible with smart wearable technology since companies like Hublot sell art, culture, and tradition which is love.