Monday, February 17, 2014

Social currency equals "free" Marc Jacobs' products

Picture via Mashable

In this day of social media, companies are becoming more and more creative when it comes to utilizing this technology and making their brand known. One of the most creative campaigns I have seen recently belongs to Marc Jacobs and consists of "trading social media mentions for products" at a temporary store. The promotion was done to correlate with New York Fashion Week and stir up conversation surrounding the brand. 

People were encouraged to tweet, like Facebook posts, and Instagram pictures featuring the brand. In essence, this social currency put forth by consumers would allow them to receive free Marc Jacobs products including perfume, necklaces, and handbags. The idea was rather innovative and received a lot of media attention, as well as increased adoration from fans.

According to Forbes, this Marc Jacobs campaign "spells the end of trying to put a dollar value on social media campaigns". They have concluded that although social media aids in making a brand known and unique, it is hard to determine its correlation with sales increases. All in all, this initiative is just another interesting example of how social media is shaping the retail world and I am interested to see what else these forward-thinking brands have in store.

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