Interview with Christian Eckley, CEO
My Market Insight Overview
My Market Insight specialises in providing media and online retail insights for the beauty industry.
They monitor beauty brands and category performance, as well as offering benchmarking and competitor insights through their beauty data analytics platform. Clients include Bare Minerals, Elizabeth Arden, L’Oréal and Coty.
My Market Insight was growing their client base and in accordance with their business strategy wanted to deliver global media insight services for their global client base of prestigious beauty brands. For these beauty brands it’s imperative to capture every mention, down to subcategories of products, for effective monitoring and strategic decision making. To deliver global services to its global clients, the online data collection platform that My Market Insight had built in-house would require an army of IT engineers to support it. They were faced with the prospect of either working with an organisation that aggregates global content professionally or keep heavily investing in their own online data collection platform, but that wasn’t a cost-effective solution.
The data as a service offering by LexisNexis has enabled us to grow our business. Through global content coverage that is so comprehensive, scalable and reliable, our clients can now track the performance of their global PR investment and build market insights that support competitive advantage.
- Christian Eckley, CEO
The solution was to source a global data provider to plug the gap. My Market Insight contacted a number of data and content providers. Following a rigorous process of integrating and testing potential partner data feeds, they selected LexisNexis as their partner of choice due to:
By working with LexisNexis as a data provider, My Market insight has been able to scale up their business and deliver global deals to their global clients. Furthermore, it has done so in a cost-effective way by keeping IT costs down whilst increasing access to content.
The end benefit for MMI’s clients is that by having access to such as comprehensive content database they can effectively plan, monitor and review their PR performance to establish whether they are getting ROI from their PR activities, identify new trends, and view year on year performance.
Their clients can use the data for competitive intelligence, product launches, country comparisons and other benchmarking metrics. All of which helps these world leading beauty brands manage, protect and grow their businesses.