Download - Digital Marketing Lecture 4
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Digital marketing #DM
4
and strategy in a digital plan
objectives
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SOSTAC® planning model…
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situation
objectivesstrategytactics
actioncontrol
corporate
marketing
digital
resources scheduling
Smith, 1990
5S’s
marketing mix
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TOWS Analysis
Strengths Weaknesses
Opportunities“Maxi-Maxi” Strategies
Strengths used to maximise opportunities
“Mini-Maxi” Strategies
Minimise weaknesses by taking advantage of
opportunities
Threats“Maxi-Mini” Strategies
Strengths used to minimise threats
“Mini - Mini” Strategies
Minimise weaknesses and avoid threats
Weihrich, 1982
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How to complete a TOWS…
How can we make the most of strengths and get around our weaknesses?
How can we capitalise on opportunities and minimise threats?
These are then considered in relation to each other…
…the surrounding boxes are populated with key findings from the audit – and numbered
It is a simple tool used to generate strategic options or alternatives
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The original model … developed by Heinz Weihrich, 1992
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The TOWS matrix in action...
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don’t over-complicate – it shouldn’t be a complicated process
It is there to help generate options and alternatives – it isn’t perfect
Make sure you show your thinking and make it work for you
Using the TOWS...
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digital objectives...
avoid solely focusing on sales
help to determine/clarify position
help highlight the balance of tactics needed
provide a time frame
provide a means of evaluation and measurement
link back to marketing and corporate objectives
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types of objectives…
Unique visitors, traffic, bounce rate, revenue, search percentage
leads, conversions from leads, page views, time, value per visit
sales, sales from leads, sales value, sales volume, average order value active customers, brand mentions, sentiment, shares, virality
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the 5S’s...sell… grow your sales
speak… dialogue, participation and engagement
serve… add value
save… costs
sizzle… take your brand online
Smith, 2000
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strategy… Segmentation
…can use ‘classic’ bases and variables for B2C and B2B
…often developed further as persona’s
online behaviour and digital media consumption is vital
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…web/online/customer persona’s
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targeting...
three key approaches…
undifferentiated
differentiated
concentrated
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positioning…
products can be positioned in the market by focusing on specific factors such as…
features, benefits or advantages
solutions presented
specific usage (occasions)
positioned against other products
class disassociation
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strategy… OVP
closely tied to the brand position
the reasons why the customer will click, register, buy and share
the intrinsic benefits from the site, content, service and functionality
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…a further objective-linked strategic consideration
acquisition
conversion
retention
…how do we gain new customers?
…OVP and integration with other channels
…build relationships, develop advocates and engage
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RACE model
Reach… building awareness offsite
Act… engaging audiences with site content and other web presence
Convert… achieve marketing goals… call to action
Engage… build relationships to retain customers
Chaffey and Bosomworth, 2012
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Ansoff’s Growth Matrix
Market Penetration Product Development
Market Development Diversification
Existing
Existing
New
New
Product
Market RISK
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Porter’s Generic Strategies
Differentiation Overall Cost Leadership
Focus
Uniqueness perceived by customer Low cost position
Industry-wide
Segment only
Strategic Target
Strategic Advantage
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…developing intelligent strategic objectives
Objective Substantiation Strategies to achieve goals
KPI’s
Link to stage of consumer journey and SMART
Link to audit findings and TOWS options
Link to STP, OVP, growth and positioning
What will you be measuring?
Conversion – increase average order value to £30 per customer
Increase in disposable incomeIncreased desire for product
Position as luxury against key competitorsDifferentiation through featuresOVP – exclusivity
% of unique visitors responding to promotions
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References and reading
Armstrong, G & Kotler, P. (2008) Marketing- An Introduction. 9th ed Pearson Education: LondonDibb, S., Simkin, L., Pride, W.M. & Ferrell, O.C. (2012) Marketing: Concepts and Strategies. 5th European ed. Houghton Mifflin: AbingdonRyan, D. and Jones, C. (2009) Understanding Digital Marketing: Marketing Strategies for Engaging the Digital Generation London: Kogan PageWilson, M.S., Gilligan, C., (2005), Strategic Marketing Management, CIM/Elsevier http://www.smartinsights.com/digital-marketing-strategy/sostac-model/http://www.smartinsights.com/digital-marketing-strategy/race-a-practical-framework-to-improve-your-digital-marketing/http://www.enterprisebucks.co.uk/wp-content/uploads/2014/09/digital-marketing-plan-template-smart-insights1.pdf