Palladium was appointed to undertake a digital due diligence on behalf of a private equity firm to inform their continued investment decision for a global luxury fashion brand.
About the company
A global luxury fashion brand, whom historically, digital had played a relatively small role in the brands success, relying on brand reputation in their leading market share.
The objective; to assess the effectiveness of the brands digital marketing strategy against competitors. Digital played a small role in the brands historic market success, as they were heavily reliant on their longstanding brand recognition. The businesses digital capabilities were explored to incorporate their brand recognition in the digital sphere, to determine opportunities for a competitive advantage in existing and the growing US markets.
The Palladium approach
- A digital audit on the effectiveness of current digital marketing activity using analysis tools to model traffic and engagement rates
- Assessment of digital visibility in relation to competitor benchmarks using a toolkit to measure reputation and social share
- Analysis of digital experience, using customer mapping techniques to uncover opportunities to add value and enhance user experience
Key findings, results and areas for improvement
Palladium produced a detailed digital due diligence report of the company in relation to competitors and industry leaders.
This report was able to identify a strong social recognition and digital visibility in Europe but trailed behind competitors in the US. An innovative opportunity was revealed to add value to the customer experience by offering personalisation on a digital platform.
As a result of the findings, recommendations were made to take advantage of a digital opportunity to take ownership of the luxury market in the US to drive revenue growth.