Let’s start with the basics – what is a ‘House of Brands.’
House of Brands is a portfolio management strategy that defines how a family of brands owned by one parent company, each independent of one another and each with its own audience, marketing, look & feel operate in harmony with each other.
… for these reasons and more, it’s no surprise that every digital-first consumer brand today aspires to leverage a portfolio strategy to become a House of Brands.
You cannot improve what you cannot measure! In order to scale these brands, the first thing needed is DATA. Data across all digital platforms – data on social media performance, customer engagement, eCommerce sales, product stock availability, pricing, reviews, and customer sentiment to name a few. This data will unlock huge value for brands and it gives them a sense of what’s working and what needs to be improved in order to increase sales & scale.
All brands need to track this information – but here’s a challenge unique to a House of Brands – it is the sheer volume & scale of data needed across multiple brands across multiple digital platforms! For example, a House of Brands with let’s say 10+ brands, each brand with 50 SKUs, selling on 10 eCommerce platforms is the equivalent of managing 10 retail shops with 500 SKUs!
Let’s look at some of the questions the analytics, marketing, and brand management teams at House Of Brands would ask. And the data they would need almost on a daily basis for every single brand.
… if the sheer scale across multiple brands was not a big enough challenge when this data needs to be tracked hyper-locally for each brand, it becomes anyone’s worst data nightmare!
To get ample data, across key KPIs brands need to invest in a Digital Shelf Solution. However, traditional Digital Shelf Solutions were built for brands that got a majority of their revenue from in-store sales and only a part of their revenue was being generated online.
That’s where DataWeave is different. DataWeave’s AI-Powered Digital Shelf Solutions was built with Digital Native brands in mind.
The following metrics are available to view in one single dashboard, across multiple online stores and multiple geographies making it so easy to get a consolidated view of the health of the entire portfolio of products! What’s more, we’ve created a dashboard with multiple views – brand-wise, function-wise & even hierarchy-wise. This means a brand manager can see all KPIs specific for only the brand they manage, while the marketing team can look at keyword search rankings across all brands and the leadership team can see a brand-level daily scorecard for a quick health check. And that’s not all! Our dashboard highlights insights that can be “actioned asap” to make it easier to understand what critical tweaks and changes can help improve sales. Lastly, as a House of Brands adds more Brands & SKUs to its portfolio, our solution has the full flexibility to add and delete SKUs on the go!
Brand Roll-Ups and House of Brands are always scouting for new brands to acquire. DataWeave has a unique product to help you track a category daily, highlighting brands that show exceptional KPIs across – Ranking, Reviews, Ratings, Bestseller ranks, Sales Estimates, etc. Read more about how VC’s & Brand Rolls up are using Data for faster Acquisitions.
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