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Apr 28, 2022

The Future of Media Monitoring in the Beauty Industry: Benchmarking, Social Commerce & Beyond

The world of media monitoring has irrevocably changed, pushing brands to think outside the ‘print and e-zine’ box, and expand their focus to include a host of new digital channels. What’s now defined as media goes beyond the buzz generated by journalists; influencers and etailers, bolstered by social commerce, are beauty leaders too. But what exactly does that mean for the way you monitor media? And how do you efficiently track this evolving space? Here’s what you need to know…

 

1. Understanding all presence is key

When mmi first launched as My Market Monitor in 2005, we analysed editorial coverage for all beauty brands that were mentioned across our print media list. But, as the landscape has changed, we have expanded our monitoring to cover a wider range of presence, from Instagram Stories, to TikTok, to influencer blogs. This is key for all beauty brands who strive to capture their full media picture, so they can channel that data into actionable insights for PR. By missing platforms, brands also miss securing and tracking potentially viral content. Working with a partner that helps you monitor all mentions in one platform is crucial to enhancing growth.

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2. Its not enough to just count mentions

Media mentions in isolation tell you little about how impactful your PR strategy has been, which is why tracking additional metrics is needed for more robust reporting. Take your insights to a more granular level by:

  • Categorising your mentions so they’re easy to analyse - especially if you’re working as part of a multi-category brand.
  • Layering mentions with data on earned media value (EMV) and reach, so you can put those figures into clearer context.
  • Reviewing mentions alongside competitor coverage, so you can understand where your brand sits within the market.

 

By using a beauty-specific tool, the tasks above become easier, enabling you to categorise and segment your media data for a true view of your positioning across the industry.

 

3. Retailers are the new influencers

As etailers (such as Cult Beauty and Space NK) put greater focus on their owned blogs and social media, more and more beauty lovers are turning to their content for up-to-the-minute trends and news. Theyre the new influencers, with millions-strong followings and high engagement rates, making a mention from your etail partners a lucrative opportunity. Tracking such coverage will prove essential for brands as etailersinfluence continues to thrive - and dont be surprised if a mention on an etailer’s Instagram channel sends your sales soaring. Its now more important than ever for your beauty brand to reinforce relationships with etail partners, seeking exclusives and content opportunities that will earn you high visibility at the point of sale.

 

4. Affiliate links must be trackable

According to a recent study, 42% of 18- to 24-year-olds are inspired by social media when it comes to shopping for makeup. But it’s not enough to simply show them those must-have products through owned media or influencer posts; for a better consumer experience, you should be directing them to where they can buy the products too. Social media platforms are now making it easier by offering in-app shopping but it may be a starting point for brands to start to include trackable links in these posts, as tracking is crucial to ensure you’re capturing the full shopper journey, from post to sale. Because the functionality is so new, this is a challenge for many media providers. Here is how our technology at mmi will be able to help:

  • We will offer the ability to create trackable links, promo codes, affiliate codes and shopping codes for influencers.
  • The mmi Social Commerce solution will handle creating trackable links, while the generation of promo codes and the actual tracking of on-site sales will be handled by the direct-to-consumer ecommerce software.

By monitoring this journey, brands will not only be able to see the impact of their social activity; theyll also have actionable data to refine their future strategies.

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Up next: Discover 6 key KPIs to measure the success of a beauty product launch.

April 28, 2022