As one of the world’s most powerful conglomerates, LVMH is the maker of numerous high-end brands including Louis Vuitton and Moet & Chandon. Despite beating revenue expectations, the company continues to focus on developing its brands by controlling costs and targeting investments. They also are heavily focused on building a social media presence, particularly on Facebook.
With a carefully managed Facebook campaign in place, LVMH is tracking the effectiveness of its brand communication by using hard metrics (number of fans) and other evaluations (level of fan engagement and evolution of engagement over time). The key to calculating these metrics is getting the managers of each LVMH brand to agree and establish a benchmark.
Thomas Romieu, group digital director for LVMH, said, “The most important thing is to monitor the engagement rate. We want to keep that stable or not lose engagement. … The strong engagement of people on the Internet generally speaking, it make sense for brands to want to engage there. Brands have to increase the value of the relationship with their customers through this medium.”
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Source: WSJ
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