Paid, owned and earned media was an engaging topic of conversation at Conde Nast Digital Day 2010 held in partnership with Campaign India. Most luxury brands today have realized the need to look at themselves as more than just that- a luxury brand; they are having to re-invent themselves as creators of content. So Burberry has a live streaming of their latest collection, from the red carpet to the show itself. That’s one brand that James Bilefield, president, Conde Nast International- Digital, believes has got it right as far as their digital credentials go.
So how are global luxury brands in general dealing with this shift? As far as Bilefield is concerned, he believes most of them are doing a good job but the challenge is in being able to distribute that content effectively and to the right audience. Giving an Indian context, Hari Krishnan, country head, LinkedIn believes that most advertisers in the country are savvy about what is happening online but they are not sure about how they can participate. Jordan Khoo, APAC regional director, MediaMind believes that luxury brands, in general, have a very compelling earned media advantage that ought to allow them to invest resources in this channel but warned that at the same time, they would have to balance their earned media activities with paid media investments.
Watch the video here.