Our second interview in our "Power of Five", series, we get the opportunity to hear from Mr Michael Jais, CEO from Launchmetrics. Keep reading to learn how this leading Marketing platform and analytics provider for the fashion and Luxury sectors delivers valuable insights into the luxury consumer and how the digital landscape is changing.
Michael co-founded Augure in 2002 and is now the CEO of Launchmetrics. He previously worked for Accenture, Thomson Multimedia, and founded the startup, Leonard’s Logic, that was successfully sold to Hummingbird in 1999. He holds a Master’s degree from Sciences Po Paris in Economics and Finance.
What is Launchmetrics and what can it do for brands? ( elevator pitch)
Launchmetrics is the leading Marketing Platform and Analytics Solution for Fashion, Luxury and Cosmetics (FLC) professionals. For over a decade we have listened to the needs of the industry, and developed tools to support the way it works. Through this, we have become not just a provider to our clients but a real partner of the industry and the most trusted platform for these brands.
Today, clients worldwide rely on Launchmetrics to help their social and digital teams identify the most influential voices in the industry from the initial identification and management of these influencer relationships through the execution and measurement of these projects, collaborate with PR teams around the world to give them tools to manage their samples, organize their events and distribute their digital showrooms and then measure the ROI of all of these activities, campaigns and projects through our Media Intelligence tools.
More than 1,000 brands and over 50,000 influencers in the industry rely on Launchmetrics’ every day.
Can you please explain the current digital landscape and how things are changing?
With the increased digitization of our industry, brands are now not just tasked with adapting their sales & retail strategy to the local market but also, to be successful, developing digital strategies that speak to the global brand positioning while integrating a local sensibility. As the customer is becoming more digitally minded as well, brands are trying to understand how to balance the exclusivity they’ve always had with the inclusivity of the digital world. It is our aim to help brands navigate this new territory and understand the value that PR, Owned Media, Influencers and Partners can bring to this journey with tools that measure the impact of their various marketing activities to better arbitrate budgets & plan for future success.
How does the report “Understanding the Digital Luxury Consumer – Insights from East to West” respond to this change?
As the luxury consumer is taking a new form, the ability to manage a brand's accessibility will be the key to capturing and nurturing these clients. With this shift, now more than ever, influencers play an essential role in helping brands engage with this customer, acting as the middleman to build relationships on behalf of the brands and serving as the trusted voice that consumers look to.
Our report Understanding the Digital Luxury Consumer highlights what the top 100 brands in the market are doing, the Voices they are engaging in each region (on each channel) and how their marketing strategies differ from East to West. The report brings to light the type of data and insights brands need to understand today to more swiftly respond to market trends and drive business decisions - from the Voices that drive impact, to the value of traditional media and the growth of partners as well as Influencer Marketing.
4. How can a small brand with limited budget use your services? And does it make sense in a low-scale business?
Today brands (of all sizes) have access to so much data that the question is really, who will use it as their best weapon and who will not. Larger brands do tend to have larger budgets but sometimes that means they prefer to have dedicated agencies or external parties managing these projects, whereas smaller companies can find software solutions like our tools that help brands of all sizes maximize the ROI they get out of these events and campaigns.
As we highlighted in our ‘Data on the Runway’ report, we can see there are five main Voices driving the conversation and it’s critical that a brand has a diverse strategy when it comes to activating all of these Voices. With that in mind, the question is not a matter of size or brand maturity but more about reaching the right audience, through the right Voice, that most appropriately corresponds to the goal you had.
5. How do you see your company growing in the future?
In September 2018, we announced $50 million in financing, an exciting milestone in our business. Thanks to this new capital, we will be able to scale the business and further invest in the development of cutting-edge data technologies to provide the industry with tools & analytics to help transform the way it works today. As the industry continues to shift from the effects of influencer marketing and digital technology, our plan is to use the $50M investment to provide it with the right tools & data to be ready for these changes.
Some of my personal favourite upcoming projects include those our team of Data Scientists are developing using visual recognition algorithms to automatically tag brands, products and people from images created or shared by influencers. Technology like this will allow customers to analyze the Media Impact Value created directly from this user-generated content across the web and social media.
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