Our industry is ever-changing. Get insights and perspective from our experts as we share our knowledge and experience on how to successfully navigate the marketing landscape.
Luxury fashion houses are notoriously slow-movers when it comes to embracing digital technology. Industry reports show that online is the fastest growing channel for luxury goods by far. According to Bain research, while the entire luxury goods market is expected to grow by 2 to 3 percent in the next five years, the online luxury goods market is expected to grow by 20 percent in the same period. With the entire industry behind in moving to online shopping, that mindset has affected is data-driven marketing growth as well. That's a chic number. Check out our public relations service for more information.
The biggest mistake most companies make when choosing a strategy is "listening to the Hippo — the Highest-Paid Person in the Organization," Neil Hunt, chief product officer of Netflix. At Netflix, data rules the company. Really committing to this idea means loads of A/B testing and a willingness to accept a high rate of failure. Data and vision equals transformation.
Having wowed advertisers at the Cannes Lions in June with the unveiling of its long-awaited ad tech platform, Snapchat is introducing in-app behavioral targeting in the fourth quarter (timed to a rumored IPO). To improve ad targeting, Snap Audience Match will let brands take their email lists and files of mobile device IDs, and then anonymously sync the data with Snapchat's user pool. Our Director of Search and Analytics, John Liu, weighs in on what this means for brands and users alike. So much for not being creepy.
After years of guzzling at the platforms’ traffic spigot, publishers’ worst fears are coming true. The platforms have inserted themselves between publishers and their readers, making it harder for publishers to make money off them. To counter, publishers are getting smarter about striking direct connections with readers, getting people to come to their sites where they have full control over audience data and monetization. Play by the rules, or not.
Top 40 radio is notorious for spinning the same small list of tracks over and over and over again, rendering any road trip a literal carousel of the Biebs and RiRi. But do these artists truly reflect all listeners want to hear? Analytics service Next Big Sound aggregated social, streaming and event data between an artist and a fan. Given how indicative this data is of what listeners really want, there's plenty marketers can learn from this data. Tell me what I want to hear.
https://youtu.be/_BKhs9RyBIM AMP Agency leverages Lotame's Data Exchange and DMP to power MomentAware (a proprietary in-moment marketing solution that delivers the industry's most detailed audience segments) to increase engagement by 250% and decrease data cost by 83% for a leading Pet Care Brand. OBJECTIVE: AMP Agency wanted to support a major Pet Care Brand with advanced audience targeting in order to find a niche group of pet owners most likely to respond and engage with their marketing and recruitment efforts. To do this, they relied on MomentAware, AMP's proprietary solution backed by Lotame's Data Management Platform, which marries AMP's rich demographic, psychographic, CRM and location data with a massive network of device signals (~150 MM unique mobile devices monthly). STRATEGY: Using MomentAware and Lotame's Data Management Platform in tandem, AMP's data points provide valuable insights into consumers' pet ownership and preferences ( Dog/ Golden Retriever, Cat/ Persian), the pet owner's choice and location of grooming and veterinarian care, frequency of pet care, even the approximate location and times pet owners walk and exercise with their pets. AMP was able to enhance their existing data with additional demographics, interest, and purchase behaviors from Lotame's Data Exchange to create a robust profile of the pet owner and ensure marketing messages were delivered when and where pet owners are most receptive to messaging and offers. RESULTS: By employing MomentAware, consumer engagement, as measured by click-through rate, increased by 250%, showcasing the advanced relevancy in regards to targeting. Thousands of new pet owners were identified that weren't included in standard third party audience segments and the advanced device graph opened up an opportunity to message consumers across devises, in the moments when they're most likely to engage. In addition, AMP Agency was able to generate data costs savings of 83% for this Pet Care Brand. Want similar results? Get in touch- email@example.com _________________________________________________________________________ About AMP Agency: AMP Agency is a full service marketing agency with offices in Boston, New York City and Los Angeles At AMP, we believe in better ideas created a different way. It's in our heritage. Through the years, we've morphed from a non-traditional marketing agency into a full-service shop. Today, we're a team of 200+ intellectually curious individuals who are eager to solve your business challenges. About Lotame: Lotame is a universal cross-device data management platform that is humanizing the consumer decision journey by empowering enterprises to deliver more relevant content, products, and services. Lotame unifies and enriches the world's data to create more meaningful relationships and increase commerce and brand loyalty.
As shoppers ourselves, it’s a routine we already know extremely well by now. It goes like this: You walk into your favorite fashion retail store. You’re welcomed by a retail floor assistant. They repeatedly greet you with a scripted engagement every three minutes until you checkout or leave. You may think it is over at this point, but really it’s just the beginning. Double down on digital instead.
Marketers need to seriously invest in owning more of the technology and data stack themselves, and that goes for agencies as well. Adding value doesn’t just happen on the creative side, but on the data side too. It's time for agencies to become tech experts. Bet big, win big.
The enormous volume of data collected from mystery shoppers, online reviews, social media, blogs, and ratings agencies about customer preferences and experiences has become too overwhelming for any business to assess. And as the luxury segment depends upon anticipating, and then exceeding customer expectations, this is a problem. In the absence of a more nuanced understanding of customer feedback, the data as it stands is driving the industry toward standardized service, and standardization turns luxury into a commodity – the very opposite of what luxury customers want. What you do with the data matters.
In the age of ad blocking, brands are racing to create content that will get users opting in rather than out. Personalization is a crucial part of this and brands are mining users’ social feeds to create more meaningful, and tailored, campaigns. Here are five brands aiming to take user-generated content and spinning it into a brand experience. Get personal with me.