10

ESSENTIAL
KPIS FOR MEASURING THE IMPACT OF
YOUR MARKETING STRATEGIES

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 Introduction
Over the past decade PR, Marketing and Communications depart-
ments have completely transformed the way that they work. Their
activity has expanded to new horizons, requiring them to become
increasingly multidisciplinary. Today, these teams are responsible for
press distribution, developing influencer marketing relationships,
implementing social media strategies, producing owned content,
partnership development, product placement with celebrities and paid
campaigns with key opinion leaders.

This is why measurement is more important now than ever before. Not
only does it help brands understand the return on investment of each
of these marketing tactics, but also helps them gain a global view of
the performance of cross-Voice and cross-channel brand strategies.

However, with so many activities and tools used for connecting brands
with consumers at different stages of the buying journey, it becomes
challenging to understand which metrics or Key Performance Indica-
tors (KPIs) they should look at to understand the global impact that
their marketing efforts generate.

You could likely count more than 50 different indicators providing you
with daily performance data regarding your social media, PR efforts or
influencer activities. However, moving from a granular view to a global
perspective requires an important exercise of simplification.

This eBook will help you achieve that. We have summarized 10 of the
most relevant metrics you need to consider to start understanding the
performance of your marketing strategies from a global perspective.

We hope this gives you the guidance needed to improve your measu-
rement efforts in 2020!

10 Essential KPIs for Measuring the Impact of Your Marketing Strategies 1

 Index

01 02 03 04 05
Media Impact Voice Share Share Channel
Value™ Mix of Value of Voice Mix

06 07 08 09 10
Evolution of Engagement Reach Brand Audience Quality
Placements Association Score - Influencers

10 Essential KPIs for Measuring the Impact of Your Marketing Strategies 2

 01
100883

Media relying on vanity metrics such Metric in action! →

as likes, comments, and

Impact
shares. Over the first few
months of 2019,
93883

luxury fashion
Value™
88930 Media Impact Value™ (MIV®) is
72929 a metric that provides brands house, Gucci had an
overall Media
70877
with a unified currency to
measure the value of all Impact Value™ of
marketing activities across $622M. The media
(both print and
51930
Voices, Channels, and Markets
by assigning a monetary online) they
amount to every post, interac- activated accounted
34993
tion and article. MIV® takes into
for over half of this,
account media rates, content
with a total
quality and source authority
contributing MIV®
amongst other measurements
of $391M.
and is finely tuned to the speci-
ficities of the FLB industries.

Using a unified way to calcu-

See more examples of the total
MIV® of some of the top 100
fashion, luxury and beauty brands
on our microsite, Insights100.
Quantifying the ROI of your marke-
ting strategies can be difficult, espe-
cially when you need to compare
performance across different
marketing departments. Many
brands think of earned media as
free, when in reality, there is a cost
associated with it. Metrics like EMV
and AMV can be unreliable as they
rarely take content quality, or source
authority into account - instead,
late how brand equity is being
created allows you to look at
your strategy from a more
holistic perspective, giving a
better indication of where, and
how to allocate your marketing
budget. You can also use MIV®
to analyze how well your
competitors are performing
and where they are deriving
the most value from, helping
you understand your market
landscape and strategies more
intimately.

3 10 Essential KPIs for Measuring the Impact of Your Marketing Strategies

 02
Voice
Mix
Marketing value can derive from
different channels, methods and
individuals depending on a
brand's marketing strategy. In
order to analyze these better
and develop a deeper
understanding of the main value
contributors, we have developed
a cross-Voice approach.
4 10 Essential KPIs for Measuring the Impact of Your Marketing Strategies
This considers five main Voices
essential to moving consumers
amount you are investing in each
Voice. This allows you to
through the buying journey in analyze whether particular
fashion, beauty and luxury: marketing strategies are paying
off, and which previously
Media (publications both online -
untapped areas you should start
website or social - and print e.g.
to consider. Comparing your Voice
Vogue or Manrepeller.com)
Mix to your competitors’ allows
Owned Media (content posted you to benchmark your
on a brand’s own social media performance, and understand
channels or blog) what strategies work well for
others that could be applied to
Influencers (influential individuals your own business in the future.
within the fashion, luxury and
beauty industries, known for their
digital presence)
Celebrities (influential individuals
that are known for something
other than their digital presence)
Partners (retail partners such as
Matchesfashion.com or Sephora)
Voice Mix is a metric that
illustrates the percentage of
coverage or Media Impact Value™
generated by each of the five
main Voices.
By analyzing your Voice Mix, you
are able to determine the Voices
that are currently bringing you the
most value, which can also be
compared to the monetary
 03
Metric in action! →
Beauty brand, NARS, obtained 67%
of their Share of Value via the
Influencer Voice during the last part
of 2019. This is a strong indicator for
the brand as it shows how their
collaborations with All-Star
Influencers like James Charles, for
example, are offering strong results.
5 10 Essential KPIs for Measuring the Impact of Your Marketing Strategies
Share
of
Value
Sometimes, it can be challenging to
understand the performance of your
Owned Media strategy compared to
your Media and press activities; or
how the investment made in a
celebrity product placement
campaign impacted your global
marketing results. Benchmarking
against different Voices can help you
better understand which tactics are
offering the best results, and also
where to allocate budgets in the
future.
In a highly competitive industry
in which consumer loyalty is
more valuable than ever, it is key
to also understand your brand
performance in comparison to
your competitors’: What value do
your marketing efforts represent
compared to your direct compe-
titors? What segment of the
market are you impacting upon
and do other brands match or
differ to you?
The Share of Value indicator is a
useful metric that shows the
percentage of value your brand
has accumulated based on
Media Impact Value™ - calcula-
ted during a specific time period.
It can be used to obtain a global
overview and easy comparison
of the impact value created by
different Voices, brands, chan-
nels, etc.
See more beauty
measurement examples in
Behind Beauty:
Understanding Marketing
Investments for Tomorrow
Download
 04
Metric in action! →
Across the four main fashion weeks
during the FW19 season,
Influencers accounted for 25.8% of
the total Share of Voice. However,
during the SS20 season, Influencers
contributed 18.9% of the total Share
of Voice, implying there was more
influencer-related buzz generated
during FW19.
6 10 Essential KPIs for Measuring the Impact of Your Marketing Strategies
Share
of
Voice
As brands continue to try to appeal
to the customer of tomorrow, expe-
riential concepts and events for
consumers are even more valuable
than ever. Being able to determine
whether a marketing strategy or
campaign has generated buzzwor-
thy value over time can help brands
measure success in a constantly
evolving marketing climate.
Share of Voice calculates the
percentage of mentions gene-
rated by a brand, segment or
influencer during a specific
time period (ex: monthly) or
event (ex: Fashion Week, Beau-
tyCon or Baselworld).
This allows you to measure the
impact you create on a frequent
(i.e. monthly) basis, and consis-
tently check in on what is perfor-
ming well and what isn’t, or what
people are really talking about
when they mention your brand.
Additionally, Share of Voice is a
key metric for benchmarking, as
it provides an insight into the
percentage of mentions a brand
accumulated at a specific event
in comparison to their competi-
tors. If a competitor performed
particularly well, you can look
into the campaigns they activa-
ted at the event to determine the
source of their marketing
success, and incorporate this
into your own strategy.
See more fashion week
stats in Data on the
Runway: Decoding Key
Industry Shifts through
the Data.
Download
 05
Channel In today’s digital landscape, there
are numerous touchpoints throu-
Mix
gh which brands can now reach
consumers, from social platforms
via influencers to online media
and print editorial. Due to this,
brands are creating effective
omnichannel marketing strate-
gies that are able to reach
audiences exactly where they are.
Deciphering the true value of
investments across multiple
channels allows you to optimi-
ze your marketing strategies
and shift budgets based on
which platforms are generating
Identify brand performance
indicators like Channel Mix with our
Insights platform and improve
your strategy.
10 Essential KPIs for Measuring the Impact of Your Marketing Strategies
the most ROI. The Channel Mix
metric analyzes coverage on
print, online (media publica-
tions and blogs) and social
channels to show which chan-
nels are driving the most Media
Impact Value™ over a specific
time period.
By being able to deduce which
Channel Mix works best for
different brand activities,
marketing teams can effectively
allocate budgets to improve
their potential coverage and,
ultimately their ROI.
7
 06
Evolution Analyzing the mentions you recei-
ve is valuable intel for your brand,
This is the reason why brands
should not only focus on the

of
as it gives an insight into how number of placements alone, but
much buzz you are creating at a also on their evolution over time.

placements
given time. The evolution of place- Even more importantly, you
ments metric, will offer an indica- should pay attention to this figure
tion of your amplification and in comparison to the value of
reach capacity. If the number of placements calculated using the
placements increases 60% from Media Impact Value™ metric.
one season to the next, your
marketing strategy has caused a
greater impact that you can
analyze more specifically
afterwards.

However, quantity does not

always translate into quality.
Your brand could receive 1 million
mentions in the media or via
influencers, but if the mentions are
not high quality, are irrelevant or
don’t help you reach your target
audience, then they won’t be
valuable to your strategy.

Our media monitoring

platform, Discover, can help
you easily track this metric!
Find out more here.
Metric in action! →
When managing a media strategy, understand if your
PR efforts are resulting in stronger press relationships
by analyzing the evolution of your media placements. If
quarter after quarter this figure continues to increase,
then your PR team is doing a great job!

8 10 Essential KPIs for Measuring the Impact of Your Marketing Strategies

 07
000
COMMENTS
000 SHARES
000
Metric in action! →
Looking at the Sustainability of the
Beauty Sector and the main
keywords associated with brands:
+25M in Engagement and a reach
of 4 billion is what these
publications obtained in the first
semester of the year.
9 10 Essential KPIs for Measuring the Impact of Your Marketing Strategies
Engagement
LIKES
000 VIEWS
000
One of the primary ways to unders-
tand the success of your content is
via the number of interactions (or
reactions) it receives from audien-
ces. While the formidable ‘like’ was
once considered the holy grail of
engagements, it is now much more
nuanced than that. The way in
which audiences can interact with
content has risen and so has the
way it can be measured;
comments, shares, likes, views,
clicks, saves etc, are all valid
indicators that give you feedback
about your content’s performance.
The Engagement metric shows
brands which content resonates
best with their target audience
and informs them which engage-
ment trends their audience lean
towards. Brands can use this
metric to explore whether their
recent campaign has increased
interactions as a result of influen-
cer collaborations or the discount
See more sustainability stats
Analysis of the Fashion and
code included in the caption, for
example.
The sum of interactions can be
evaluated as a whole number
(whether of one piece of content, a
particular channel or of a whole
campaign) or it can be broken
down into the different types of
engagements (those mentioned
above). When applied, the Enga-
gement metric helps marketers
decide which strategy is best
suited for which channel to fulfill
which goals.
in Making Sense of
Sustainability: A Data
Cosmetics Industries.
Download
 08
Reach
When launching a campaign, there
are expectations of the number of
people it will be seen by. Whether
on a global or targeted scale, if a
brand can’t determine the extent of
their campaign’s distribution, they
cannot understand which tactics
are more effective in helping them
reach their target audiences.
10 10 Essential KPIs for Measuring the Impact of Your Marketing Strategies
Linked closely to Engagement,
Reach helps indicate the effecti-
veness of your content’s message.
This metric is based on the
number of people that have seen
your content, your followers,
unique monthly visitors, and also
backlinks. In many cases, Reach is
the total number of unique people
who will see and potentially
engage with your content. Some
platforms also display the volume
of impressions your content has
earned - a metric which tells you
how many times your content was
displayed to users, whether they
interacted with the post or not.
It is crucial to remember that
different channels have different
Reach can be based on circulation rates, unique
monthly visitors, shares, backlinks and/or the
algorithms, meaning that your
content on Instagram won’t have
the same Reach as your posts on
Facebook. Furthermore, an
article you may share on an
online publication won’t have the
same numbers as its print
counterpart. Your audiences will
differ across these channels, so,
to accelerate the number of
people your content impacts,
make sure you tailor your
message to each one. By having
a sound understanding of your
campaign’s Reach and how it
performs on selected channels,
you will be able to adjust your
strategy to improve results.
Remember! →
number of followers.
 09
Brand In a highly competitive market,
analyzing the performance of your
Imagine that your goal as a beauty
brand is to position yourself within

Association
brand compared to your direct
competitors’ is fundamental. It is
not only about understanding who
is reaching a greater market share
or impacting a specific target
audience, but also about identif-
ying the connection and discon-
nection with certain brands in the
same sector.
The brand association metric is
interesting from a two-sided point
of view:
the luxury segment, but the brand
association analysis shows you
consistently that the brands
sharing market-space with you are
predominantly in the mass market
segment. There is potentially
something in your marketing and
communication strategy that is
not reaching the right audience
and that you should reassess in
order to position yourself as a
luxury brand.

Firstly, it can be used to identify

which similar brands you
compete with when impacting
shared consumers.

YOUR Secondly, it is an effective

BRAND indicator of brand reputation,

since it offers insights about
how your consumers perceive
your brand within the market.

11 10 Essential KPIs for Measuring the Impact of Your Marketing Strategies

 10
Audience Understanding the quality of an
influencer’s audience makes it
people. It is calculated via a
machine learning process that

Quality
easier for brands to hone in on the takes spam-activity indicators
correct key opinion leaders into account, and a

Score
needed to reach the goals of their
marketing activities. Knowing the
‘health’ of an audience also helps
Followers
Likes
brands to preempt the value of
Engagement their investment and the potential
Subcribers
Total Reach
conversions that an influencer will
provide.
The Audience Quality Score
metric means brands can see
how much of an influencer’s
engaged audience are real
cross-comparison of the ‘health’
of an influencer’s audiences on
other platforms. With the ROI of
influencer marketing campaigns
being somewhat ambiguous to
measure, the Audience Quality
Score is a way to ensure you are
partnering with an influencer that
is likely to help attain brand goals,
therefore improving marketing
performance.

Metric in action! →

The incorporation of influencers

Do you want to start using this
metric as part of your influencer
marketing strategy? Use our
Influencers platform to find the
best partners for your brand.
into brand marketing activities has
now become the norm. That is why
today, it isn’t a matter of whether to
integrate influencer marketing
tactics into strategies, but rather
discerning if the influencer
selected commands audiences
that are genuine and engaged.

12 10 Essential KPIs for Measuring the Impact of Your Marketing Strategies

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