Posts Tagged ‘Digital’

Kate Spade New York: Innovating the 360° Experience

February 12, 2014

The Kate Spade signature experience is as bold and colorful as its brand. Its 2013 strategy proved to be ahead of the curve, offering an amalgamation of consumer interactions across all touchpoints for a unified 360° experience.

Last summer, Kate Spade New York created a unique way to bridge digital with the brick and mortar world, transforming “window shopping” from a figurative expression into a literal action.

For one month in New York City, four of its Kate Spade Saturday store locations turned their window displays into a 24/7 interactive adventure. It enabled shoppers to purchase that “must-have” piece in the window, from the window, via touchscreens. And shoppers could schedule that item to be delivered within one hour anywhere in the City (e.g. a last minute present delivered to a party you have to miss, that anniversary gift you forgot to buy for your wife… again).

Mary Beech, Senior Vice President & Chief Marketing Officer, and upcoming BRITE ’14 speaker, refers to their decorative windows as “a little piece of theater.” “Our store windows are moments of whimsical storytelling that express our core values in every venue,” she explained at The Hub Live 2013 conference. “[T]here’s a sales goal related to these. But we have fun doing it.”

In true Kate Spade New York innovative style, the luxury retailer ran the first shoppable online video banner during the 2013 holiday season. See an item you like in the digital ad? Simply click and purchase. “The technology provided an immediate, seamless, shoppable element that enhanced the experience, rather than pulling you out of it,” Beech explains in an interview with Design Taxi.

Kate Spade Shoppable Banner Ad

Efforts are paying off. Kate Spade New York reported a 30% increase in comparable store sales for the 2013 fourth quarter, and a surge in last year’s stock price. Further, parent company Fifth & Pacific will be renamed to Kate Spade & Co. to focus singularly on the Kate Spade brand. The company recently trimmed 37 of its 40 brands and is soon to separate from Juicy Couture and Lucky Brand.

Beech notes that they’ve carefully identified complementary experiences to carry through different social media channels. Facebook is for customers seeking sales, product information, store openings, etc. Twitter offers the voice of the Kate Spade woman tweeting about local events and other delightful discoveries. Instagram paints a picture her story and NYC lifestyle through the use of images.

Kate Spade New York is fast becoming a trailblazer in the marketplace, developing unique ways to engage and even entertain its biggest and brightest fans by merging new technology with in-person interactions.

Join Beech at the BRITE ’14 conference (March 3-4, NYC) to learn more about the creative ways in which they’re keeping the brand both fashion and marketing-forward.

BY ALLIE ABODEELY

New Study: Marketers Struggle with “Big Data” & Digital Tools

March 21, 2012

The Center on Global Brand Leadership and the New York American Marketing Association (NYAMA) are pleased to release the results of a major new study on the changing practices of large corporations in:

  • data collection and usage,
  • marketing measurement and ROI, and
  • the integration of digital and traditional marketing.

The BRITE-NYAMA Marketing Measurement in Transition Study was authored by David Rogers, Executive Director of BRITE, and Columbia Business School Professor Don Sexton. Results were first released at the Center’s fifth annual BRITE conference on May 5, 2012. The findings have been reported in numerous publications, including the top front-page story of Ad Age.

The study’s results focused on 3 main findings:

  1. The failure of “Big Data” for marketing
  2. Marketers are quick to adopt the newest digital tools, but struggle to measure them
  3. ROI – marketers know they need it, but cannot agree on its meaning and implementation

The full report can be viewed at http://j.mp/MarketingROIstudy.

FINDING: THE FAILURE OF BIG DATA FOR MARKETING SO FAR
The researchers found that marketers’ desire to be data-driven is not yet matched by a consistent effort to collect the data necessary to make these real-time decisions. 29 percent report that their marketing departments have “too little or no customer/consumer data.” When data is collected by marketers, it is often not appropriate to real-time decision making. 39 percent of marketers say that their data is collected “too infrequently or not real-time enough.” Furthermore, marketers today are still much less likely to collect new forms of digital data like customer mobile device data (19 percent collect it), and social media data (35 percent), than they are to collect traditional customer survey data on demographics (74 percent) and usage (60 percent).

 39% of marketers say they can’t turn their data into actionable insight

FINDING: MARKETERS ADOPT NEW DIGITAL TOOLS, BUT STRUGGLE TO MEASURE THEM
Marketers are also struggling to measure the impact of the newest digital tools, despite the widespread adoption of these applications. 51 percent of marketers said they use mobile ads (in-app, or SMS); 85 percent use social network accounts (brand accounts on Facebook, Twitter, Google+, and Foursquare). Yet these tools are among the least likely to be measured for ROI despite their profusion of data. Only 14 percent of the social networking users are tying them to financial metrics, and only 17 percent of those using mobile ads are tying them to financial metrics. By contrast, 41 percent of email marketers measure their results with financial metrics. In addition, as number of marketing tools expands, the challenge of measuring and comparing them grows. 60 percent of companies report that comparing the effectiveness of marketing across their different digital media is “a major challenge.”

Marketing_ROI_Table3

Click image to enlarge

FINDING: ROI – MARKETERS KNOW THEY ALL NEED IT, BUT CAN’T EVEN AGREE WHAT IT IS
The study also revealed that there is confusion about the meaning and significance of ROI among marketers. Specifically, 31 percent of respondents said that they believe simply measuring the audience you have reached is “marketing ROI.” 57 percent are not basing their marketing budgets on any ROI analysis, and 28 percent are basing marketing budgets on gut instincts. 21 percent are using financial metrics for “little” or “none” of their marketing budget and seven percent are spending most or all of their marketing budget with “no metrics” at all. However, marketers are under pressure. 70 percent say that their marketing efforts are under greater scrutiny than in the past.

Marketing_ROI_Table6

CONCLUSIONS: FIVE IMPERATIVE ACTIONS FOR CMOS
After its analysis of the dynamic and challenging environment for marketing today, the report recommends that Chief Marketing Officers should focus on five key leadership imperatives: Set objectives first; Design metrics to ensure marketing is linked to these objectives; Gather the right data for those metrics; Communicate to the entire organization what your objectives are and how they are being measured; and Evaluate and reward employees in part on how well objectives are achieved.

Read the complete findings and conclusions at http://j.mp/MarketingROIstudy.

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METHODOLOGY
253 corporate marketing decision makers, director-level and above, were surveyed online between January 27 and February 8, 2012. These professionals are employed at large companies (90 percent have a global annual revenue of over $50 million; 45 percent are over $1 billion). Respondents were from b2c and b2c companies in diverse industries. The study was made possible with support from Research Now and GreenBook.

ABOUT THE RESEARCH PARTNERS:

The Center on Global Brand Leadership was founded at Columbia Business School in 1999 and has grown into the leading global forum on brands. The mission of the center is to turn the research and intellectual capital of academia’s foremost thinkers on branding into practical tools and insights for real-world application. The Center has worked with a wide range of sponsor companies to develop a variety of thought leadership including: conferences, case studies, videos and webinars, and sponsored research. The Center’s flagship BRITE conference on brands, innovation, and technology presented was founded in 2008 and is presented each spring at Columbia University. BRITE ’12 speakers included John Hayes (CMO, American Express), Marc Speichert (CMO, L’Oreal USA), and Bob Garfield (host of On the Media, editor for Ad Age).

The New York American Marketing Association (NYAMA) helps marketing professionals navigate to success in today’s dynamic business environment. We serve the marketing community by giving members opportunities to push the boundaries of marketing, expand their skills and exchange ideas with other experienced professionals. The BRITE/NYAMA study is one example of how we are contributing to the advancement of marketing.

Research Now is the leading global online sampling and online data collection company. With over 6 million panelists in 38 countries worldwide, Research Now enables companies to listen to and interact with real consumers and business decision makers in order to make key business decisions. Research Now offers a full suite of data collection services, including social media sampling, and operates the Valued Opinions(tm) Panel and e-Rewards(r) Opinion Panels. The company has a multilingual staff located in 24 offices around the globe and has been recognized for four consecutive years as the industry leader in client satisfaction.

GreenBook® brings stimulating, practical, and timely resources to marketers and market researchers on both sides of the table. Through its targeted multi-media platform, GreenBook offers effective marketing and lead generation opportunities to businesses that communicate with buyers and users of market research.

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