Social Media Marketing

I'm here to say that the reason for Sears’ 78 percent stock price plunge from its peak in April 2007 — and associated tattered financials that are putting it incrementally into the grave — is the outcome of a culture of losing. This attitude emanates from the top brass and permeates the entire organization, resulting in customer needs not being satisfied. In turn, that's led to material market share being gobbled up by the likes of Wal-Mart, Target and, of course, Amazon.com. 

I have to be honest, every time someone mentions "social currency," I immediately wonder what the catch is. Yes, social media is a powerful marketing channel for brands and a great way to engage with consumers, but retailers know all too well that a slew of Facebook Likes or #mentions on Twitter doesn't always yield a strong return on investment. So, what's a mere 140 characters really worth to a brand? Apparently, around $20 bucks.

Target, Nordstrom and other big retail chains are pinning their hopes of attracting shoppers on social media. Retailers increasingly are using Pinterest to draw business to their own sites. Shoes, handbags and other popular items on Pinterest are being prominently displayed in Nordstrom stores with special tags. Target, the nation's No. 2 discounter, is creating exclusive party-planning collections with top Pinterest users, or "pinners." And Caribou created a coffee blend that was inspired by the coffee chain's Pinterest fans.

United Colors of Benetton plans to develop its own social platform, The Drum has learned, as the fashion retail brand opened a new concept store in the heart of Milan. The "One Canvas" concept store has been created as part of Benetton's plans to drive a new brand strategy that will evoke its "Italian essence" with "comfortable, functional and dynamic" clothing. The concept store has been divided across several collections using canvas "walls," which can be easily remodeled when necessary to suit new fashion lines.

Here's one way Disney will try to recoup the $950 million it plans to spend buying YouTube network Maker Studios: with web series backed by deep-pocketed marketers. One example arrives Thursday, when Maker will post the first episode of "The Next Style Star," an online reality series listing Macy's as a co-producer. The 10-episode series will pit 16 fashion stylists against each other in a competition for $10,000 judged by fashion aficionados like Whitney Port, originally of MTV's "The Hills," and Made Fashion Week founder Jenne Lombardo. 

Lululemon got some unwanted attention last year after it recalled its "see through" athletic pants, but now the clothing company is ready to get in on the joke. Jimmy Kimmel spoofed Lululemon on his late night show last Thursday, running a fake ad for spray-on yoga pants called "Lululemon Pledge." "When they spray on, they stay on," a voice-over says. Lululemon took it in stride

Eco-friendly jewelry retailer Alex and Ani increased its sales and average order value (AOV) last year by ramping up its Facebook ad program.

With millions of users, retailers simply can't ignore social media. Social media allows you to build relationships with customers, and their feedback will help you build your business. But to do that, it's important to know how each works and what pitfalls to avoid. Be smart about incorporating social media into marketing plans and use your resources wisely.

Most of you will have already heard of the hashtag #ootd. For those who haven't, this is the epitome of the #selfie phenomenon. "Outfit of the day" as it stands for, has over 23 million posts attached to it on Instagram. That's 23 million images associated with what people are wearing, said Will Young, director of Zappos Labs, the San Francisco-based experimentation and innovation arm of e-commerce site Zappos - during

Beauty retailer Sephora is launching its own take on social shopping with Beauty Board, a Pinterest-meets-Instagram photo-heavy platform that encourages users to share and tag their "beauty looks." Folks who like dabbling with different looks can upload images, tag products and offer tips on how they made it all come together. It's available at Sephora.com, Sephora's mobile site, and via its iPhone and Android apps. You can also share your looks on Facebook, Pinterest, Twitter and Google+.