(The Jing Daily) - During the Sotheby’s & Jing Daily Future of Luxury Conference in Hong Kong, I witnessed one of the most interesting moments of my entire business life. I asked the audience, made up mostly of managers working in Hong Kong and China (including senior executives of Louis Vuitton and Tencent), during my panel on AI-powered luxury management three simple questions. The first: Who in the audience is responsible for brands, either as CEO, CMO, or senior brand director? Almost everyone raised their hands. The second: How many of them do digital marketing campaigns in China? Practically all raised their hands again. But then, the answer to my third question shocked me. I asked: “How many of you can link sales precisely to your digital marketing, sponsoring, event, or social media activity?” In other words, how many of those audience members who run marketing campaigns in China — many for massive luxury brands — know their ROI? Not one hand was raised. Zero. After that, everyone agreed that there was a need for a different approach.
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