L'Oréal and Tencent delve into MarTech
The two leading household names have renewed their joint business plan (JBP) agreement, which has been in place since 2013, to bring contemporary and exciting digital marketing approaches to the cosmetics industry.
Chinese internet leader and L'Oréal have worked together now for six years, with the primary purpose of renewing marketing techniques and activities to mimic consumer interests and requirements, and make “active strides to keep up with the times”.
“L'Oréal was one of the first digital advertisers in the global beauty industry," observed Stephane Rinderknech, CEO, L'Oréal China.
Explaining its long-term strategy, L'Oréal revealed in a recent press release: "We believe the partnership with Tencent will help L'Oréal make a difference in China, and through Tencent's support to achieve our global vision, which is to become a 100% digital brand, build a 50% consumer relationship via new media and achieve 20% revenue by e-commerce."
Innovative brand centre
At the recent Tencent Mind Conference, the media name expressed its recent "One Tencent". The new portfolio consists of marketing solutions by aligning Tencent's marketing platforms and developing an inclusive ecosystem.
"Tencent provide L'Oréal customised marketing solutions during the three year's JBP cooperation. This time we will take the partnership as an important step to implement ONE Tencent, to bring the advertisers from the beauty industry more possibilities and use the potential of marketing," noted Sophia Ong, GM, Strategic Partnership & KA, Online Media Group, Tencent.
The new age of marketing
The joint brand centre has been established for the bespoke needs of L'Oréal by Tencent via MarTech. It will use its comprehensive range of platforms and data technology.
Utilising social and big data, the rise of the internet and marketing, the duo aims to build “better precision, better efficiency and better traceability”.
In addition to the brand centre, Tencent has also launched an integrated data marketing tool called Inter-Trace which combines Tencent's capabilities in content, data and technology. It also combines “creation, communication and conversion to provide whole-course, all-dimensional data support to advertisers and customised brand marketing solutions”.
"By focusing on the digital side, advertisers all want to figure out how to carry out brand building in a fair and transparent environment," said Michael Zhang, Media Director, L'Oréal China.