L’Oréal and Tencent renew JBP agreement to improve digital marketing

L'Oréal has renewed a joint business partnership (JBP) agreement with Tencent to improve its digital marketing.

The partnership is intended to support the firm to achieve 20% revenue by e-commerce.

Under the new agreement, the firms plan to implement marketing solutions portfolio ONE Tencent. A new custom Brand Data Centre will also be launched, which features a complete set of platforms and data technology.

L'Oréal plans to leverage Tencent's social and big data capabilities through the Brand Data Centre to gain precision, efficiency, and traceability. The centre is expected to help the cosmetics firm collect more sales from potential markets.

To improve marketing efficiency, the firm will use data analysis and algorithms for quick and effective identification of target audiences and ideal resources.

L'Oréal China medical director Michael Zhang said: "By focusing on the digital side, advertisers all want to figure out how to carry out brand building in a fair and transparent environment.

“Through our joint efforts, we hope to pave a way for positive development of brands, making data more credible, collaboration more transparent, and the environment fairer."

Tencent originally signed the three-year JBP in 2013 to provide customised marketing solutions for L'Oréal.