Can machine learning help cosmetics and personal care brands build consumer loyalty?
Launchmetrics got its start in 2006. Global headquarters for the tech company are in Paris, France; and there are offices around the world, in New York, Los Angeles, London, Milan, Girona, Madrid, Munich, Tokyo, and in Craiova (Romania).
According to the Launchmetrics site, the company “[develops] intelligence that empowers companies in the fashion, luxury and cosmetics sectors, helping them grow their businesses and streamline their processes.” Explaining the business a bit further the site’s About Us page reads, “with tools for influencer campaign management, event organization, PR monitoring and data analysis, the Launchmetrics marketing platform gives brands everything they need to build a successful marketing strategy, all in one place.”
Data-driven marketing decisions
The company’s chief marketing officer sees eye-to-eye with Launchmetrics’ clients and speaks to value of the newly launched Insights by Launchmetrics saying in today’s media release, “As a CMO with industry experience, I can attest to the challenges faced by today's decision makers. The industry has changed quickly; and the new digital landscape has made it strenuous for many to navigate and attribute budgets effectively,” says Alison Bringé.
“By understanding one's Voice split as well as being able to drill down to understand the Media Impact Value of an individual action or Voice,” explains Bringé, “executives are capable to quickly understand what works and what doesn't in order to make strategic decisions that will help their teams achieve their goals and reach the consumer of tomorrow, today.”
What the new Launchmetrics Insights platform delivers
The new platform takes years of data into consideration and allows beauty brand marketers to make decisions based on both qualitative and quantitative indices as well as on dollar values the brand assigns to each region, time period, channel, etc.
The algorithm takes into account “audience engagement, industry relevance, source authority, and content quality, to create a highly accurate method of measurement,” according to the media release. And it’s also figuring in some 21 million online articles monthly, over 200 billion social media posts each month, more than 1 million print pages each year, 200 thousand influencers’ opinions, and the profiles of over 10 thousand relevant businesses.
"The challenge for brands,” says Michael Jais, CEO of Launchmetrics, “is not having an accessible, global view of what's working, which hinders their ability to adjust strategies in real-time.”
“Insights by Launchmetrics will transform the way executives approach decision-making and give them the ability to leverage our unique data asset to quantify every marketing and PR action,” believes Jais, who goes on to emphasize that by “using our proprietary Media Impact Value algorithm, executives can assign a monetary value to these activities to measure their performance and see which investments help build brand loyalty, as well as how they benchmark against competitors.”
Deanna Utroske, CosmeticsDesign.com Editor, covers beauty business news in the Americas region and publishes the weekly Indie Beauty Profile column, showcasing the inspiring work of entrepreneurs and innovative brands.