Mercedes-Benz Fashion Week will once again live stream over 50 runway shows from Lincoln Center, while another 15 will be streaming from MADE Fashion Week in downtown Manhattan for the Spring 2014 fashion season. Amongst the 30K attendees, you can expect to rub elbows with buyers, media, bloggers, celebrities, industry professionals and die hard fashion mavens, while at-home fashion junkies can share similar experiences from behind the screen. The time has finally arrived. New York Fashion Week begins tomorrow and runs through Thursday, September 12th.
Why are designers now choosing to debut their collections online via live video stream? Data. “Right now data is the buzzword,” says Isham Sardouk, Chief Creative Officer at Stylesight in New York and former Design Director at Victoria’s Secret. With each live video broadcast, priceless data is collected that each brand will then analyze to drive major retail and marketing decisions. Here are six reasons why we’re encouraging all Fashion Houses to take their shows online too.
1. Spikes in Engagement
With live video broadcasting, you can layer social media on a real-time basis (which most brands already do), and engage with a global audience. Real time social interaction builds community and fuels healthy and steady engagement. Engagement in this case can be measured by likes, tweets, mentions, pre-orders, subscription/newsletter sign ups, viewership, comments – esentially any data point that can be linked to profitability.
2. Customer Research
Your analytics will easily allow you to collect information from and about your target and future customers. Understanding your target customers’ demographics helps you determine what your customers like and dislike to better serve them currently and in the future.
3. Identifying Your Influencers
Even more granular than understanding your target demographics, use this data to identify who your major influencers are (bloggers, mega fans, celebrities), and pull them into current or future strategies and campaigns. Engage with your influencers, encourage dialogue and social interactions, and most importantly, use these relationships to gain even more brand advocates.
4. Forecasting, Pre-Orders & Price Points
Customers today are absolutely influencing and dictating trends. It’s to your benefit to utilize technology to support your buyer’s intuition and trained eye. This powerful combination will arguably best determine price points, distribution, location, quantity and production schedules. Pre-orders, massive or not, will help to recognize which collections – down to the individual garments – will sell best.
Remarketing is a powerful way to stay engaged with your current and future customers. Collect the data from your live broadcast to create highly targeted and personalized ads and email campaigns, tailor messaging, send discounts and access to special events and keep your brand top of mind.
6. Digital Strategies
Your new data goldmine might even have you running to your Agency of Record for immediate updates to your website and social properties. Prioritize your inventory, play with in-store or online merchandise, construct beautiful messaging and digital assets and test along your owned properties.