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Fashion

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Does Social Media Success Spell Business Success?

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“Social data is even being used by investors as a discovery tool to figure out what brands they should be paying attention to in the first place. “It’s about the opportunity attached to the brand,” said Brit McCorquodale, senior vice president of revenue at San Francisco-based analytics firm Tribe Dynamics. “We’re looking at up-and-coming brands that [investors] should be paying attention to, then monitoring them as they grow and gain momentum online.”

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Why It Bags Are Making a Comeback

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“Dior deployed an aggressive marketing strategy to revive the Saddle, enlisting about 100 influencers, including Chiara Ferragni and Eva Chen, to wear and post about it. The bag generated almost $3.5 million in earned media value in the third quarter of 2018, according to Tribe Dynamics. But the momentum didn’t sustain, with that figure dropping to just $193,300 in the final three months of the year.“

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How Vans Keeps Its Cool

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“Vans is in the same ballpark as Nike and Adidas in terms of its fan base, despite being a fraction of the size of either rival. According to Tribe Dynamics, it’s the only brand out of the three to indicate growth in potency among influencers on social media, posting a 5 percent increase in earned media value in the last quarter of 2018. And among American teens, research firm Piper Jaffray found that Vans ranked as their second-favourite footwear brand after Nike last fall.'“

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Founder or Freelancer: How to Succeed in Business as a Solo Act

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“When it comes to defending her rate during negotiations for brand collaborations and influencer programming, Jen Atkin — the celebrity hairstylist who founded Mane Addicts, a digital platform for the hair-obsessed, in 2014, and the hair care line Ouai in 2016 — approaches discussions like a lawyer preparing a case. “I will do the work and have the facts behind me,” said Atkin, whose 2.8 million Instagram followers regularly see her styling clients Kendall Jenner and Bella Hadid, and on vacation with friends Chrissy Teigen and John Legend.

“I will call and say, ‘Here is my media value. I have looked at Tribe Dynamics and Dash Hudson. I know how much my posts are worth. If you would like to be part of it, let’s talk about it.’ Remind people in a positive way of your worth. You can’t be afraid to do that,” she said.”

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The Year Ahead: Self-Disrupt or Die

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“Other forms of disruption we see in fashion include exclusivity, faster fashion and new channels. Numerous established brands are rethinking their business models to reflect these evolutions. For instance, some are moving away from the traditional fashion calendar and imitating the “drop” approach commonly used by streetwear labels to release smaller and more frequent collections that create rarity value and elevate anticipation. Moncler’s launch of its “Genius Project” is an example, with Hiroshi Fujiwara’s first drop driving a 43 percent month-on-month increase in earned media value (EMV) in June 2018 according to Tribe Dynamics.“

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The New Rules of Beauty PR

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‘“I still feel most proud when I get a print story, but it’s rare that anything is going to be seen first in a magazine anymore,” admits an executive at one of LVMH’s beauty brands.

“If you’re in a magazine, it’s still an image-builder,’ confirms Tractenberg, “but it has to be in conjunction with everything else. Everyone now is focusing on online engagement and what moves the needle in sales, which is ultimately the barometer of what is successful. And instead of ad value, it’s earned media value [EMV]: What did this post get for us?”

While PR firms used to measure much of their success by the number of in-book product credits or the length of a feature, they now have far more granular data, like that from Tribe Dynamics, the research firm many brands hire to record and analyse EMV.”

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A New Social Network’s Radical Proposal: Ban #SponCon

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"Data from Tribe Dynamics, a marketing technology firm that tracks influencer impact, shows that consumers at large have not rejected influencer content. Last year on Instagram, likes and comments on influencer content increased by an average of 81 percent and 120 percent, respectively, the company found, but that unpaid content is most effective at driving conversions. For Masse, this means that the app could complement the product content driven by Instagram.

‘My question about that would be how they are supporting the development of recommenders?” said Brit McCorquodale, senior vice president at Tribe Dynamics. “It would be important for an app like this to understand and really cultivate a creator community so they have the tools to access information for their followers.’"

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The Case for Seeking Out More Diverse Influencers

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"Revolve, which recently filed for an IPO and generated sales of $400 million last year, has never been a brand to highlight diversity, but whether or not that has had an effect on its sales is unclear. Revolve’s earned media value (EMV) dropped during the controversy to the brand’s lowest for the year, at $83.8 million, according to the marketing technology firm Tribe Dynamics. A spokeswoman for Tribe said that cannot be solely attributed to the controversy, however, but “to the natural ebb and flow of events and campaigns.” And the dip was temporary: Revolve’s EMV bounced back to more than $140 million in each of the subsequent two quarters."

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Hedi Slimane and the Art of the ‘Drop’

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"So far, this autumn’s drops have at least generated notable consumer buzz. During September 2018, #ThomasBurberryMonogram drove more than $100,000 in earned media value for the brand, and #TheBSeries drove over $130,000, according analytics firm Tribe Dynamics. Overall, Burberry’s earned media value was $9.6 million for the month, up from $5.4 million from August. Tribe attributed the jump to the chatter around the new drops, as well as an increase in content around the runway show."

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