Since the inception of Facebook and Twitter, marketers have utilized social media to reach customers. As social continues to become a vital part of companies’ marketing strategies, luxury brands have refrained—favouring to remain exclusive rather then accessible to the masses. However, some elite brands are changing their outlook on social media.

Chanel has been on Twitter since 2011. However, the high-fashion powerhouse only recently began posting photos on its Instagram and already has 2.2 million followers—yes, you read that right. On the other hand, top-tier brands like Apple, Rolex, and Monocle are still hesitant to embrace social media.

In an interview with Andrew Tuck, Editor at Monocle, he states that the company puts 40,000 words every month in the magazine. Tuck explains that his marketing team is reluctant to allow tweets or Instagram photos lesson the exclusive appeal and VIP status of Monocle’s parties and events.

“Social media feels like a little too much exposure. For our brand, it seems just a little bit uncomfortable,” Tuck mentions.

Rick Liebling, head of global marketing at Unmetric, makes a solid argument when he says that twenty-five years ago, movie actors wouldn’t sign on to do a TV show, but now, that’s the space everyone strives to be in. Liebling asserts, “similarly, you are going to see luxury brands accept this change in culture.”

Will McInnes, CMO of Brandwatch, expresses, “These [anti-social] companies are resisting something inevitable.”

In my eyes, luxury and social media aren’t mutually exclusive. Top-grade brands are missing out on a massive opportunity to learn about their customers. In fact, 98% of affluent consumers (with an income of <$250,000) who intend to buy premium products use digital platforms to communicate, with an astounding 71% specifically employing social media.

Social media gives companies customer insight. When companies launch a luxury product, they can track conversation surrounding it by analyzing social media metrics. Burberry’s digital offering alone has helped propel its retail revenue to £528m over the last Christmas quarter, a growth of an astonishing 14 percent!

Luxury brands fear that they are losing prestige and exclusivity by being accessible online. However, as learned from Mercedes Benz, brands can be accessible but reserved, unique, and calculated at the same time. GenerationBenz.com is an invite only forum where few young customers can provide personal feedback on vehicles.

Premium brands should embrace social media to further connect with influencers and generate authentic engagement. Social media is open to everyone. If you are not representing your company on these social communities, somebody else will represent the brand for you.