Marketing Strategies For Engaging Digital -Myassignmenthelp.Com

Question: Discuss About The Marketing Strategies For Engaging Digital? Answer: Introduction Dollar King is an Australian discount store that sells a variety of items at reduced prices. The firm sells products ranging from homewares, Japanese goods, party wares, art and stationery, cards and gifts, kitchenware, tools, and home dcor (Dollar King, 2018). The firm began trading in the year 2000 with the first store established at Hornsby Shopping Centre with the aim of creating a comfortable and competitive discount store to the customers. Currently, the firm has over 55 retail stores in major locations. The report outlines the marketing plan for the firm with a major focus on the strategies employed in embracing the digital platform in the promotion of its objectives and profitability plans. All these are examined through the several strategy placed in ensuring the presence and competitive pricing of the product to the market. Brand Proposition Right from the establishment of the firm in 2000, it has positioned itself as a brand name for the discounted products category offering competitive products to the market. The business has grown its brand through a realistic focus on delivery of products at competitive pricing to the customers. The firm has developed its brand position through corporate social responsibilities across the communities in areas of operation. Consequently, the strategy has grown awareness of the company allowing individuals to identify the stores quickly. Besides, the unique colors used in its stores are distinct enough to enable clients to identify the stores and reduce the competition from other similar firms. The present knowledge created over the one and a half decade of operation can be counted on to build the organization further and increase their profitability. The proper name generated can be used to promote the presence of the firm on the digital markets thus increasing traffic of the firms outlet. The feeling of purchasing products at a discounted price shall act positively towards enticing more market for the firms products. The display of much needed and essential products at competitive prices revitalizes the excellent feeling of remaining and encouraging repeat purchase to the stores (Tiago Verssimo, 2014). The CSR programs promote the will of clients purchasing from the store. Every time a client makes a purchase, the knowledge that part of the proceeds shall go to make the environment better acts positively towards promoting referrals and increased trade for the firm. The discounting aspect of the firm, with new products brought on the shelf all the time, gives it an upper hand while distinguishing it from other firms thus maintain a good name on the digital market platforms (Chaffey Ellis-Chadwick, 2016). Overall Goals The overall goal of the marketing plan is to create and increase brand awareness to the followers and adapt while maintaining a significant number of clients for the business. The Website The website of the firm is essential in creating awareness and convert new shoppers to its online purchases. The site is critical as it displays most of the products sold with the prices that are all-time competitive to what others offer. The digital strategy allows individuals select products and make a list of the items in demand and have the same delivered or picked from their in-store location (Chaffey Ellis-Chadwick, 2016). Customers are at liberty to select products and specify their nearest point of pick thus save time and money. At the same time, it gives a list of its stores thus making it easy for the clients to specify their location of choice and check on the availability of a given product. Moreover, the products are placed based on the demand of the market thus serving the interests of different regions in its offering. Another strategy relates to the direct marketing where clients are viewing the sites and those reporting to their stores can leave their email address and have the firm do direct marketing in case of new product updates thus maintain a pool of customers for its project (Ryan, 2016). Besides, the strategy is meant to ensure a direct interaction with the clients where there remains a place for suggestions. The query section allows the clients to give their opinion and preferences of several products and have the firm to them promptly. Addressing their concerns directly is a form of direct marketing that works for several areas of digital marketing through a fast response system (Ryan, 2016). Research indicates that customers who receive a fast response to their queries are three times likely to retain and attract more to business. Micro-Conversions The concept relates to the little path towards the conversion of viewers into customers to either make a purchase, refer a friend, or provide a donation for a worthy purpose. The micro-conversions on the website shall be measured through an increase in the number of individuals visiting he website. Chaffey (2017), notes that an increase in the number of people making an online purchase from the listed products shall indicate the success of the marketing platform. An increase in the number of subscribers to the emails on updates by over 300000 in a years time would mean success. Measures and Analytics The growth in some individuals making online purchases from the website shall be monitored in line with the growing number of subscribers by using the dashboard system of measurement. At the same time, each direct emailing that results in a purchase shall indicate the effectiveness of the website in promoting sales of the firm. Facebook Facebook is a growing social media tool essential for the digital marketing. The firm shall use the strategy through the creation of a fan page to foster awareness creation and build a formidable engagement with the clients. Strategy Through the page, the firm shall share new products on offering and much-discounted products in enticing buyers into a purchase. Furthermore, the firm shall post its social responsibilities and the good work it does to the locals in a bid to show its social sharing essential for marketing. All responses to acts of calamities shall propel the name of the firm thus showing growth. Promotional and discount codes shall be posted in promoting different products according to the demand ratios on the site (Peppard Ward, 2016). Lastly, links to the main website where individuals can make purchases shall be posted to enable customers a direct link for purchases. Micro-conversions The strategy aims at the conversion of the fans on the social media page into subscribers to the email essential in direct marketing. Facebook fans who like and comment on the posts will promote direct marketing where recommendations and thumbs-up for the firm shall increase marketing from satisfied clients (Taiminen Karjaluoto, 2015). At the same time, the links shall allow fans to redirect to the main site for a shopping experience and create awareness on the myriad of products offered by the firm. Measures and Analytics A monitoring system shall be placed to observe the increase in the number of likes and visitors to the fan page. Subsequently, the number of fans visiting the website through the links shall be checked for upward growth which indicates success in the same (Armstrong, Adam, Denize, Kotler, 2014). The traffic shall be monitored to analyze the peak times and devices used in signing in as the measure would assist in determining the proper time to post updates and have a far-reaching effect on the market potential. YouTube The YouTube channel aims at marketing the firm through the posting of videos of the site locations, products offered, process of online purchases, and convert clients from the site to the main website. Strategy The strategy in place includes building an increased consumer market, awareness of the products on offer, ease of purchase procedure through demonstration, and converting viewers into customers. Micro-conversions The target of the strategy is to ease the process of purchase through online shopping where individuals might view the procedures of selecting an item, adding to the cart, making payments, and subsequent placement of delivery or pickup points for products. At the same time, the conversions come in the form of viewers sharing the videos with friends and families, watching similar videos on CSR activities, and having the viewers subscribe to the email for direct marketing (Andrews Shimp, 2017). Measures and Analytics A proper way to measure the success comes in monitoring the increase in some views which indicates itself on the site every time access is done. Growth in subscription from viewers is an indicator of growth as well as the number of viewers trying to make purchases and place comment on the videos watched. Funnels In marketing, funnels are terms used to describe the journey consumers take on the internet to navigate from the marketing avenues through to the website and result in a purchase or sale of a product. The firm provides one of the best funnels for the clients through easy steps to purchase a product. Purchase Process. The purchase process for the firm begins with the creation of awareness on the social media groups, YouTube marketing and illustrations where customers find some information on selected products. Afterward, customers develop interest on products and are directed through a link to the main website where full view is guaranteed on the product and many others on offer. Once one develops the desire to purchase, the several options of making a payment are displayed allowing the client to select from the list and make a decision. At the action stage, an individual specifies the amount in relation to the price stated and selects the preferred pick-up point or store to personally pick a product. The process is so simple and easy to navigate thus saves the time for the clients and the rest of the site customer response team to provide a feedback on a product. Finally, it gives a client after a purchase the opportunity to place a feedback on the experience which assist in improvement and making of the process easier for users. Conversion Table for Customers In any business, marketing efforts do not raise a direct figure translating into subsequent purchase (Percy, 2014). In this respect, the high number of viewers on a product would result into a few purchases. However, there is the promise of growth on the same as time goes by. The following table represents the actual conversions in the funnel process as clients view products marketed and develop interest on making purchases. Participants and Personas Brand awareness creation on the social media has an easy target on the young generation which forms the most significant buck of heavy users. The younger generation is the highest spenders and thus the best target market for the beauty products on offer. In this case, both female and male shall be targeted as the pre-cuts spread through the gender. A specific target shall be placed with the products displayed based on the needs and demands of a given population. At the same time, the low-income and the middle-income population shall remain the target of the market. The firm sells products at a discounted price and thus fit within the budget of the low and the middle-income earners comfortably. The high-income earners do not form a considerable part of the clients but can be contained to fill in the numbers. Marital status shall remain open in focus as the products relate to those with families and the singles as the products apply across the board. Married people would most likely buy kitchen and other housewares while the singles would dwell on the gifts and daily consumption products. Primarily, the products apply to the more significant segment of the population, but the marketing on the digital platform seeks to capture the massive users which involve the youths and people to the age of 50 visiting the sites and social media frequently. The youths are known for their impulse buying and thus remain a center of interest for the marketing venture. As such, the primary target shall remain so towards posterity. Unified Presence Digital and Traditional The digital presence shall act as a marketing tool in promoting the traditionally known stores to the online participants. Brand awareness shall grow as the clients identify with their preferred brand of products thus becoming an attention grabber. Their attention shall be grabbed to the discounted precuts sourced through our well-established connection with suppliers to benefit from the savings made on our side (Strauss, 2016). The unique colors used in the brad together with the logo will differentiate us and make clients recognize them from the platform down to the stores. Proper coordination shall be placed to relate the advertisement on the traditional channels with the digital one to increase brand awareness. The message will revolve around value for money in promoting the discounting stores and providing a uniform message that resonates well with the buyers. Messages displayed on the billboards should match those on the social media for easy identification and relation to the website offering (Strauss, 2016). The hype words used in both means of advertisement should be close enough to assist individuals to relate the product viewed on the traditional media and the digital platform. Content and Conversion Marketing on the digital platform requires proper placement of products in areas of high traffic. At the same time, it requires the placement of emotional messages and those that encourage trial of products for magnificent results. Attention grabbers such as product giveaways and huge discounts shall be used to turn attention to the main site and encourage purchase (Srinivasan, Rutz, Pauwels, 2016). Moreover, the use of local comedians and key personalities in the society shall enable the firm associate easily with the society thus promoting interest and subsequent sales. In digital marketing, the use of fan pages and bloggers comes in handy and assists in growing sales and converting viewers into customers (Batra Keller (2016). The use of Facebook, YouTube, Instagram and the Twitter handle would assist in reaching a considerable market. According to (Fill Turnbull, 2016), direct marketing would be essential in growing the database and creating referrals where the subscribers would receive an offer by referring clients to the business. Product launches would be done on the digital platform to promote specific products and have top bloggers take up the challenge to promote launches (Assimakopoulos, Antoniadis, Kayas Dvizac, 2017). The use of well-known personalities is a sure means towards growing brand awareness and subsequent sales. Content creation on the social media and the YouTube channels shall be done by key individuals in drawing much attention and traffic. Nobre Silva (2014) advise that the strategy would translate into more viewers and thus funnel down to new clients for the products. CSR messages and videos shall be displayed to grab the attention of the market on the good works of the firm towards social responsibility (Grimmer Woolley, 2014). Core values of the firm shall be aligned within the system to create awareness and have workers share their experiences working for the firm. On-going Monitoring and Nurture In relation to the culture of the media, the creation of new content is essential towards marketing. Repeating adverts and products creates boredom and thus little traffic on a given product. New advertisements shall be aired on a weekly basis due to the various products existing in the online and store locations (Hoban Bucklin, 2015). Constant replenishment of the products and marketing messages ensures an easy flow of traffic on the page to find new information from time to time. Measurement of the response from the various marketing avenues shall be monitored to determine those with substantial positive responses and have more resources placed on the same. The non-performing ones shall be reviewed and made better to increase awareness and align with the target of the firm (Pauwels, Aksehirli Lackman, 2016). The marketing communication shall come up with new trends in the market and target emerging media for its product and brand awareness campaign. Digital tools for monitoring shall be used to check on keyword factor and monitor digital traffic as messages on advertising keep shifting. Evaluation of the measures in place shall occur where the non-performing bloggers and product ambassadors shall be renewed for better productivity (Baker, 2014). Further opportunities to nurture the marketing department shall be explored and incorporated periodically to ensure constant improvement in the marketing aspect of the firm. Conclusion Marketing in the current dynamic business environment has been improved with the coming of the digital platform. The firm shall utilize the opportunity to grow its awareness and collect a huge fan base for its products to the consumers with purchase powers given the discounted nature of its business (McDonald Wilson, 2016). The goals set in marketing shall draw an indication of the success of the firm and thus require a proper monitoring and evaluation program. 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