Digitally Active and Social Companies Recording Higher Growth Rates

There is new evidence to show that luxury brands have been unable to use effectively social media and networking sites. A new research by L2, a New York University Stern organization reveals that Swarovski and Tiffany & Co. are honorable exceptions. Bib brands like Rolex, Chopard and Cartier have ignored the web world even though research shows that 78% of internet users spend significant time on social network sites, while 66 percent use the Internet to conduct research before making a major purchase.

Swarovski has a strong Facebook presence and has created a flash-forward website featuring amazing customer service with live assistance, after-sales service and order tracking. Swarovski and Tiffany & Co. have the strongest presence on the web in the watch & jewelry segment. The L2 survey has ranked them both in the ‘Gifted’ class and given them a Digital IQ score of 139 and 138 respectively.

It is evident that digital presence fuels growth. Just creating a website or a page on facebook and twitter is not enough. Companies taking part in social-sharing, contributing content and interacting with other users have more than double the rate of growth than digitally inactive companies as per the L2 study. Do we need to say more?

Via: idexonline, l2innovation2010.eventbrite

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