L’Oréal believes that companies that just sell products will not be successful in the future, with its CMO Stéphane Bérubé, saying services are becoming key to reaching and engaging with consumers.
L’Oréal has shifted it strategy in recent years, moving away from its previous aim to be the number one beauty brand to instead become “the number one beauty tech company”. Purchases like Modiface are part of this “new era”, explained Bérubé.
The brand’s digital transformation is being spearheaded by CEO Jean Paul Agon, but Bérubé said that shift is “almost counter-intuitive” because it came off the back of one of L’Oréal’s most successful years in 2014.
Bringing experts in-house was crucial to overhauling L’Oréal, which now has nearly 3,000 digital specialists worldwide compared to 300 in 2014.
“We could not have done this without bringing expertise in-house. There is no way you can transform a company with consultants and agencies, you need to have the expertise close to you,” said Bérubé.
He admitted that despite now embracing technology and social he wasn’t always at the forefront
Now the majority of growth comes from ecommerce. And Bérubé urged marketers to integrate tech into every aspect of their thinking.
Source: Marketing Week