L’Oreal is currently the third largest advertiser in the world and it spends over $1 billion on its digital initiatives, annually. Hence, it was only logical for the company to rope in someone to help measure the results from its numerous digital initiatives and to aid in the integration of data across its several digital platforms. Towards this end, L’Oreal has chosen Domo, the computer software company that specializes in data optimization and business intelligence, to aid in the optimization of the performance of its numerous digital campaigns, social networks, and online retailers.
L’Oreal currently boasts a portfolio of 32 brands across 70 countries, so it made business sense when its global chief performance officer, Vincent Stuhlen, mentioned that the company needed a ‘global digital cockpit: a product that would allow us to automate reporting, measure and analyze our complex data feeds, and benchmark against our competitors.’ Domo will help L’Oreal compare the results for digital advertisements across all its brands and thus help in the optimal allocation of resources that, in turn, will help L’Oreal improve its digital marketing, e-commerce, and customer service strategies. The digital cockpit created with the help of Domo will help L’Oreal’s executives in the marketing and sales departments to understand how each brand is performing across different markets and distribution channels and these indicators will help the company in adapting to the ongoing changes in the market in a more rapid manner.
We believe that L’Oreal’s partnership with Domo will prove to be a fruitful one as it will help the company in further optimizing its digital initiatives, pick up market cues faster, and hence better serve its clientele. This, in turn, will further cement L’Oreal’s position as the number one player in the global beauty industry along with helping the growth of its revenues and profitability.
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