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Covering the Internet’s Virtual Watch Fair

At the 34th annual Basel watch and jewellery fair this year, a record 94’000 watch aficionados, retailers and wholesalers flocked to discover the latest new designs from the world’s greatest watchmakers.

But the show goes on online. Watch manufactures invest precious advertising and marketing dollars into their virtual showcases as an extension of the Basel experience.  Online, aesthetically perfect photographic settings are complemented with technical details and convincing arguments to increase desire to buy.

Surprisingly, the press does not cover this critically important show, and watch makers do not receive feedback on their competitive performance in this ongoing virtual fair. In the global marketplace exhibit, few have access to how many visitors have ‘passed the online doors’, which brands they are searching for, nor the models, materials and technical mechanisms they desire. Instead, after the watch fairs, many watchmakers retreat into the warm cocoon of shallow basic quantitative statistics from their own corporate websites.

But, accessing on-demand coverage of the yearlong ‘Virtual Watch Fair’ is possible. Using targeted e-research, our agency hopes to open the eyes of the luxury watch-making industry to the outstanding competitive advantage and revenue-growth potential of key market web analytics.

Wwr_w_euoprastar_petit For example, over 25 million search intentions were analyzed for just 12 watch brands in 5 key markets in our 2006 WorldWatchReport. When compared to the 94’000 visitors attending a one-time event like BaselWorld, it’s obvious that the virtual showcase far outweighs the impact and scope of any single event.

Online research like the WWR provides timely unbiased observations which can be tracked at a fraction of the cost of conducting traditional marketing research.  And, firms can rapidly benchmark and gain objective customer insights, monitoring consumer preferences and reactions to new models and product lines. Online response to brands, models and even brand ambassadors can be tracked and benchmarked for optimum ROI.

What’s more, these insights can be crossed with qualitative opinions from forums to track quality, measure satisfaction and detect unmet expectations. Demand for new models and limited editions can be measured and used to optimize distribution and to project production quantities for next year’s creations. With both commercial and production benefits, the possibilities of this kind of web analytics are endless.

By Claudia de Pretto | May 15, 2006 | IC-Agency Events , News & Trends

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