Launchmetrics provides Software & Data Tools to help Fashion, Luxury and Cosmetics professionals discover, activate and measure the voices that matter for their brands.
Over 1,000 brands such as Christian Louboutin, Fendi, NET-A-PORTER, Topshop and more as well as partners like IMG, the Council of Fashion Designers of America, the British Fashion Council and Google, use its tools to accelerate their business and build lasting exposure.
Launchmetrics’ GPS Radar platform brings together over 50,000 designers, editors, buyers and influencers worldwide in a perpetually evolving digital community.
Monitoring fashion influencers, advertising performance, social media posts and news titles is crucial in an age where data has become a valuable currency for big business — fashion included. Through its latest acquisitions and innovation, Launchmetrics maintains an eagle’s eye on the data insights that will help accelerate fashion blue chips and startups alike, deep into the new millennium.
Launchmetrics Chief Marketing Officer Alison Levy discusses the future of the company.
Last year, Launchmetrics made a strategic move by acquiring Italy-based media monitoring service Visual Box, as well as Style Coalition. As a result, the company launched Discover, which has been heralded as an all-in-one measuring tool to analyze the power of print, online and social media content, as well as ad campaigns and events. Where does Launchmetrics stand in 2018 after various acquisitions like Visualbox? How have these new changes altered the way you define your company?
Our recent acquisitions have been a strategic business move to help us align with how we address different teams within the field of Fashion, Luxury and Cosmetics worldwide and expand the company’s products and services to support increasing industry demands. Now we can help brands and agencies even more to identify who they should work with, activate those networks and measure the results of their activities through our three Product Suites.
The IRM (Influencer Relationship Management) Suite (through the Style Coalition acquisition), offers social and digital teams a seamless solution from the initial identification and management of these influencer relationships through the execution and measurement of these projects. The Launch to Market suite used by PR teams around the world, provides operational tools that brands and agencies have been using to manage their samples, organise their invitation-only events and distribute their digital showrooms since 2006. The Media Intelligence services and tools of data analysis that Launchmetrics has been developing over the few years, (also with the Visual Box acquisition), services Media teams to help them understand the ROI (return on investment) of their campaigns and projects.
Launchmetrics’ GPS Radar platform is key for the fashion week set, as it brings together over 40,000 designers, editors, buyers and influencers worldwide. Recently the company has been busy with upgrades to launch to market products like samples and events to cater to its vast array of clients. Can you elaborate?
Our biggest news for our Launch to Market Product Suite is the introduction of our upgraded Contact Management and Email System called Contacts+. As you are aware, there are so many changes happening across Europe with the new GDPR law and with that we wanted to provide our customers with a way to be GDPR compliant for their own contact databases, so we invested in a significant upgrade to our system to give them those features as well as many other dynamic email enhancements. Users will now be able to create more customisable emails as batches, personalize campaigns with an easy to use drag and drop editor and get in-depth reporting on clicks, opens, views, etc.
How have you upgraded your media monitoring tools and Data Services, especially after the Visual Box acquisition?
I think the biggest breakthrough we’ve had recently related to our Media Intelligence Suite of Products is the launch of our audience-drive, Media Impact Value (MIV) algorithm, which measures the impact of relevant media placements on all channels (online, social, print), inclusive of paid, owned, earned mediums in order to derive a quantitative number for performance outcomes. It has been finely tuned to specificities of the Fashion, Luxury and Cosmetics (FLC) industries, relying on historical data to create a more accurate way of measurement.
Next projects at Launchmetrics?
Our newest project is the launch of our Influencer Relationship Management Tool, Influencers by Launchmetrics. The platform is a product of the recent acquisition of Style Coalition; combining the company’s nearly decade of expertise in Influencer Marketing with Launchmetrics’ technological know-how. For the moment the product is only available in the US but will roll out to the UK this summer and Europe this fall.
Influencers by Launchmetrics is a self-service tool to allow brands to identify, activate and measure projects with Style Coalition’s premium network of opted-in influencers. Additionally, the new offering gives brands visibility of the influencer’s impact way beyond the campaign with the help of Launchmetrics’ global Data Team. Utilizing our proprietary audience-driven Media Impact Value (MIV) algorithm, brands can understand how their influencer activations impact different voices, channels, media types, time periods, products, regions and more.
Your data shows Influencer campaigns are growing. Why is that? What signs are there that this will/will not be sustainable?
In the last year we have seen the number of campaigns our clients running with influencers double. We believe that the Influencer plays a critical role between the brands and the consumer. Today influencers are the key to engaging audiences and helping to drive sales. Their feedback is quite important to brands and inspirational in the development of their campaigns and collections. Influencers offer brands legitimacy to their audience and in turn generate a greater Share of Wallet for brands. That said, I think it’s safe to say that budgets for influencer marketing will only continue to increase.
Michael Jais recently said companies need to change the way they interact with influencers? How so?
At Launchmetrics, when we work with clients we always seek to outline the goal before the project begins. As a general rule of thumb, I would say the best way to measure the success of a campaign is engagement. Too often brands focus on reach but if their post is reaching the wrong audience or the wrong community then it’s not very valuable. That said, brands should always consider the right balance between reach and engagement related to their goal. Smaller brands do not just need the affinity found through engagement but also the reach to help build brand awareness. Our Media Impact Value (MIV) algorithm helps brands find the combined balance of reach, engagement, content, etc to ensure they build campaigns with the right affinity and to garner right exposure.