In this day and age, businesses have a wealth of information about their customers available to them. Undoubtedly, companies can and should make the most strategic decisions possible based on data. It is crucial for brands to know exactly who is looking at their images, where they are located geographically and if these loyalists have the ability to purchase their products. This is where a digital asset manager comes in. Every day, companies are making the enormous mistake of neglecting to undertake due diligence and are instead placing their bets on cities they do not have a viable market in.
The good news is that there is a solution! Avoid these mistakes by following in the steps of some of the world’s best brands: adopt digital asset management software to plan, predict and evaluate your global expansion strategies.
In one case, in lieu of market research, a retailer used Galleries reporting feature to explore the virtual interest in their products from a region in which they were actively considering opening a brick-and-mortar store in. When they delved into the demographics of those who had clicked on their images, they found that this country actually had one of the lowest number of downloads globally. In contrast, tons of people in another region that they hadn’t even considered as part of their expansion plans were downloading their images. As a result, the company used this insight and adapted their international expansion plan accordingly. We are pleased to report that this company’s stores are thriving in the second market.
Another client used Galleries reports as an online focus group. They had devised a general assumption that the more eclectic items in their collection would be more appealing to press and consumers in bigger cities within the UK as opposed to the smaller towns and cities across the country. However, after using the platform to get feedback on their upcoming range, it was clear that they were merchandising products incorrectly. The brand had assumed that the consumers liked the everyday basics, but actually it was the jazzier, more colourful and embellished items that their average-joe consumers liked better. Furthermore, the press results actually indicated that journalists preferred the more neutral, plainer styles. Using these reports, the client was able to completely change their merchandising strategy right before their launch to market.
For brands with tighter budgets, a digital asset manager can truly act as a global and digital PR agency. There’s no need to pay to play in every potential market when companies can use platforms like Fashion GPS Radar to identify where you should be maximizing brand exposure.
You might be wondering, how can this kind of technology benefit a retailer?
Retailers using digital asset managers are significantly speeding up their processes. We know from major retail companies just how painful it is to make requests for images and that ideally, companies would have a unified platform to view images from all of vendors/brands before orders get placed. Currently the process is disjointed with many buyers, vendors, and e-commerce professionals coordinating their orders by going back and forth via email.
Additionally, digital asset management software can be used by e-commerce and marketing teams internally to improve operational efficiency. Teams can share images and assets within or between departments, saving time sourcing quality photos. And aside from being able to share image galleries on Fashion GPS Radar, users also have the ability to share galleries privately. Instead of using internal applications or Dropbox, you can use Launchmetrics Galleries to share these galleries and also filter by collection/season/style.
A digital asset manager can also help to expedite the process if you’re a brand or PR firm in several ways:
With Launchmetrics Galleries, a brand or a PR agency can share the image inventory (available to the editorial wholesale contacts) which in turn, provides teams with inventory count as well as the information necessary for image requests. Contacts also have the ability to download images and create image requests right from the page, instead of having to email back and forth.
By working in this flow, buyers can also view images and request images or samples before they make an order. Editors can also do the same as they write their articles for next season’s trends.
Generally, a digital asset manager will help in these ways:
- It will help brands track the popularity of a sample.
- It can help companies organize their images from various collections in one hub.
- Exposure- product exposure, press releases, and lookbook images are presented to a wide audience of editorial and wholesale contacts
All the social interactions, downloads, images views, and information can be used to contact these people. It’s likely that these interactions develop into something more fruitful– a warm lead in a way. Occasionally, people will request a sample from Fashion GPS Radar, and this is a way to broaden your contact database and generate leads.
Launchmetrics helps designers push their collections out to wholesale and press contacts more efficiently. By allowing sample request and image downloading, the process becomes more fluid and time efficient. For brands and users, Launchmetrics digital asset manager, Galleries, is mutually beneficial. Connect with the right like-minded professionals in the fashion industry.