dm lecture 2
DESCRIPTION
...planning!TRANSCRIPT
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Digital marketing #DM
2
implications and planning
management
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SOSTAC® planning model…
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2
3
4
5
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situation
objectivesstrategytactics
actioncontrol
corporate
marketing
digital
resources scheduling
Smith, 1990
5S’s
marketing mix
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marketing
the macro environment
the micro environment
strategysystems
functionsresources
suppliers
other stakeholders
intermediaries
competitors
customers
political forces
social cultural forces
technological forces
economic forces
environmental forces
legal forces
environments
the internal environment
context analysis...
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external (macro) context…
present organisations with opportunities and threatspolitical
economic
social
technological
environmental
legal
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PESTEL analysis…Your Notes PESTEL
FactorsPotential Impact
Implications & Importance
About your organisation & how the factors might impact on marketingfor your organisation/SBU
PoliticalEconomicSocialTechnologicalEnvironmentalLegal
H = HighM = MediumL = LowU = Undecided
Time Frame:ShortMediumLong
Type:Opportunity orThreat
Implication:IncreasingReducingNot yet determined
Relative ImportanceH = HighM = MediumL = Low
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customer analysis...
segment characteristics
decision-making process
involvement
perceived risks
awareness, perception and attitude
influence
media consumption and use
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investment priorities, objectives & goals
market importance & commitment
relative strengths & weaknesses
competitors - now? 5 years on?
weaknesses making them vulnerable
changes likely in future strategies
‘7 step competitor analysis drill’
effect on industry, market & you
Davidson, 1997
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Internal analysis...
strengths and weaknesses
linked to use and availability of resources…
and analysis of current digital activity…
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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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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
SMART
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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
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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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…final 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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product
promotion
tactics…
price
place
people
process
physical evidence
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implementation…
is the scheduling of digital campaign
Gantt chart or project plan
Key resources are determined
responsibilities are allocated
management processes are put in place
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control and evaluation...
Link to the digital objectives set earlier
evaluate the success of…
different digital mix elements
different digital channels
different digital media
finally, feedback and learn
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SOSTAC® planning model…
1
2
3
4
5
6
situation
objectivesstrategytactics
actioncontrol
corporate
marketing
digital
resources scheduling
Smith, 1990
5S’s
marketing mix
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Situatio
n analysi
s
• Mission Statement and Corporate Objectives• Marketing Audit – Macro, Micro and Internal• SWOT and TOWS Analysis, development of CSF’s
Objectives
• SMART• Specific, Measureable, Realistic, Achievable and Time-bound
Strategy
• Growth and Competitive Advantage• Branding• Segmentation, Targeting and Positioning
Tactics
• The Marketing Mix• Product, Price, Promotion, Place, People, Process and Physical Evidence
Action
• Implementation of the plan• Allocation of resources and management of performance
Control
• Measuring performance against objectives and desired outcomes• Amending approach based on variance
Smith, 1990
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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 Pagehttp://www.smartinsights.com/digital-marketing-strategy/online-business-revenue-models/dealing-with-digital-disruption/http://www.smartinsights.com/digital-marketing-strategy/sostac-model/