We’re back with the second episode of #TheStrategySide by Launchmetrics – our podcast series that shares exclusive and insightful tips on the best strategies for the fashion, luxury and beauty industries. For this installment, we speak to Launchmentrics’ Chief Marketing Officer Alison Bringé, who talks about the importance of measuring marketing investments and how to decipher these measurements to inform better decision making in today’s digital era. In this episode of #TheStrategySide you will learn:
- An insight into strategies that brands need to consider for today’s consumers.
- How to understand touchpoints to develop a stronger connection with the customer at the different stages of the buying journey.
- Insights on how to measure the ROI on marketing spend.
- Why analyzing the Voice split of competitors can help advise strategic decisions for your next campaign.
Take a Deeper Dive: This episode highlights the need for brands in the fashion, luxury and beauty industries to rethink the way in which they measure their marketing investments to help get a clearer picture of the impact and ROI that their campaigns generate. In an era in which consumer touchpoints and channels are increasing along the buyer journey, it’s crucial that companies are able to execute measurement activities efficiently. This is where Media Impact Value™ (MIV®), a proprietary algorithm developed by Launchmetrics to measure the impact of placements and mentions across different Voices in these industries comes in. Understanding these different Voices not only helps to understand brand value but also increases the effectiveness of competitive benchmarking. By examining the Voice split of competitors, a brand can identify what trends could work for them and see which areas can be exploited in their favor to assist them in staying top of mind. Having a rounded understanding of measuring a brand’s marketing investments today means having a stronger competitive edge tomorrow. For more episodes from #TheStrategySide and exclusive tips, simply click here. Do you want to learn more about how you can benchmark your marketing strategy against your competitors’?