In our digital worlds, it is safe to say that advertising is becoming more dynamic and complicated than ever. In advertising, Mad Men are becoming Math Men. Some would say that mobile devices, technology and advanced consumer behavior have made it a complex art and science of anticipating how, when and where someone will respond to a brand’s message.
Metrics & ROI
If you’re looking to take the guesswork out of fashion and put the social science and stats behind your business, then metrics tools are a must-have. As fashion gets more digitally savvy, we’re seeing a trend in social fashion trend monitoring.
Watch out WGSN, there’s a new trend monitoring startup in town, and it’s called EDITD. Signature 9 calls this London based startup the next big thing. TechCrunch tells us that the tool helps us “use technology to spot fashion trends ahead of time to enable fashion brands and retailers to be more efficient. This all sounds interesting and valuable, right?
According to EDITD, the tool is “a cloud-based social, commercial and factual observation instrument, giving businesses the ability to quickly understand trends and market dynamics in real time and over time.” Further, EDITD provides “factual information, which is essential for how the fashion industry is evolving.”
This is the type of program that the FMM girls get excited about, and we think brands, retailers and suppliers should get excited, too. But, why?
EDITD can help all three groups operate efficiently with the insight it provides:
- Brands can use it to ensure they’re making the right products. EDITD wants to help companies figure out how to design, sell and merchandise effectively in today’s highly competitive market.
- Retailers can use it once they’ve gathered intelligence. EDITD wants to help retailers gain a strategic advantage by measuring the full market.
- Suppliers can use it to meet their customers’ needs. EDITD wants to help suppliers increase customer satisfaction, make more money and best-sellers by utilizing global market data to fully inform their team and clients.
Similar to the trend forecasting and information delivered through Polyvore and its Style Analytics program, EDITD provides fresh data about the hottest brands and products, offering valuable insight into the world of trend forecasting.
You can sign up to try EDITD for yourself.
Yes, we love Instagram and it’s our top pick for photo sharing until we get our hands on Facebook’s new mobile sharing app. Even if Facebook, Path and With give it a run for its money, we still believe that Instagram is here to stay (cool photo app integrations like the 100 Cameras in 1 app via Instrgram’s API make this a reality). So of course, it wasn’t going to be long before some system of photo sharing analytics hit. Given it’s popularity, Instragram just got the metrics first.
This post was adapted from Taddy Hall’s AdAge.com 10 Essential Rules for Brands in Social Media. Read the entire article for more strategies on developing effective, realistic social media metrics. Continue Reading
Ever wonder where digital sites like eHarmony, Microsoft Bing and big retailers get their information consumer data? Well, we found out.
During the Magic Show in February, Jana Steadman, Senior Manager of Strategic Insights and Research at MTV Networks presented The Gen Mix Consumer Report. In her seminar, Steadman shared qualitative and quantitative research on what drives consumers ages 24-34 to buy in the current economy. The statistics and data from were impressive. Continue Reading
The impact of bloggers and real-time media has had a profound effect on how designers and media participate in Fashion Week. To better gauge blogger impact and influence on Fashion Week, I started monitoring the online discussions and articles two weeks prior to all the events and continued through the end of the runway shows via Biz 360 Community. Continue Reading
Social Media is new to most fashion brands and retailers. Many brands and retailers are apprehensive to using social media; they don’t know how to qualify results, set goals and measure results. Jon Cockle’s outlines an approach to measurement that mirrors my own social media ROI metrics. Cockle’s presentation is great place for any marketer to start at to gain great awareness of social marketing ROI. Check out this amazing presentation on Social Media ROI.