Digital Marketing Metrics
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DIGITAL MARKETING METRICS
by (Name)
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City and State
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Introduction
My report is for a real company, ABC Inc., a medium-sized business with over 200
employees. ABC Inc. was established two decades ago and operates in the retail industry. Its
target market is mainly middle-income consumers looking for quality products and services at
reasonable prices. ABC Inc. has a flagship product, the ABC Super bundle, a combination of
three products – a mobile phone, a laptop, and a tablet –offered at a discounted price. ABC Inc.'s
vision and mission are to provide its customers with the best technology products and services at
the most competitive prices. ABC Inc. has seen the need to leverage digital marketing to better
reach and engage its target market, and as such, has appointed me as the Digital Marketing
Manager. My task is to produce an outline digital marketing plan for better marketing the ABC
Super bundle.
Digital Strategy
ABC Inc. incorporates Ansoff's Growth Matrix, focusing on Market Penetration and
Product Development. Market Penetration boosts the existing product sales to existing clients
while Product Development introduces of new commodities to existing markets (Clarissia,
2019). The STP (Segment, Target, Position) model is a marketing strategy used to identify and
understand the target market. The STP process aims to determine the most profitable segments
the company should target and create a product positioning strategy to make it stand out from the
competition. The STP process involves segmenting the market, targeting the most profitable
segments, and positioning the product to differentiate it from the competition. The Balanced
Scorecard (BSc) is a tool used to measure performance in four key areas: Financial, Customer,
Process, and Learning & Growth (Benková et al., 2020).
The digital marketing strategy for ABC Inc.'s new flagship product/service will include a
combination of Ansoff's Growth Matrix, the STP model, and the Balanced Scorecard (BSc). The
company will use market penetration to increase the sales of its existing product and market
development to introduce new products to the current market. The STP model will segment the
target market and identify the most profitable segments (Camilleri, 2018). The company will
target these profitable segments with a tailored message to differentiate the ABC Super bundle
from the competition. In the Balanced Scorecard (BSc), the financial performance will be
measured by monitoring sales and profitability. Customer performance will be measured by
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tracking customer satisfaction and loyalty. Process performance will be measured by monitoring
the efficiency of the marketing processes. Lastly, Learning & Growth performance will be
measured by tracking the organization's capacity to adapt to changing market conditions.
Through tracking and monitoring performance in these four areas, ABC Inc. can assess the
success of its digital marketing plan for the ABC Super bundle.
The following metrics will be used to monitor and measure the marketing performance of
ABC Inc.'s new flagship product/service. For Financial performance, metrics such as profit/loss,
revenue, and ROI will be used. For Customer performance, metrics such as customer
satisfaction, loyalty, and NPS will be used. For Process performance, metrics such as cost per
lead, call-to-action click-through rate, and cost per conversion will be used. For Learning &
Growth performance, metrics such as employee satisfaction and training will be used. To ensure
that the performance of ABC Inc.'s new flagship product/service is monitored and measured
correctly, the metrics should be tracked regularly and analyzed to identify improvement and
optimization areas. The metrics should be used to create actionable insights that can be used to
improve the performance of the product/service. Additionally, ABC Inc. should invest in tools to
track and analyze performance and customer behavior to understand customer needs and
preferences better.
Digital Marketing Communications Campaign
The ABC Inc. digital marketing campaign aims to create awareness and drive sales of the
ABC Super bundle among the target market of middle-income consumers through the
development and execution of an integrated digital marketing campaign. This campaign will
focus on leveraging the power of digital channels and platforms to engage the target audience
and drive conversions. The target audience of the ABC Inc. digital marketing campaign is
middle-income consumers aged 18-35 who are interested in purchasing quality technology
products and services at competitive prices. This audience is likely to be digitally savvy and
active on various social media channels so that they can be effectively reached through an
integrated digital marketing campaign.
The key performance indicators of the ABC Inc. digital marketing campaign include
increased brand awareness. To measure success, we will track the number of visitors to the
website, the number of followers and engagement on social media platforms, the number of
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impressions and clicks on sponsored ads, and the number of customers who end up purchasing
the ABC Super bundle. We will also measure the number of subscribers to our email list and the
total number of conversions to the ABC Super bundle. Additionally, we will track the sentiment
of customers interacting with our products and services to gauge the overall perception of the
ABC Super bundle. We will also measure the cost per acquisition to ensure that our cost
investment is worth the increase in brand awareness.
Another key performance indicator is improved customer engagement. The ABC Inc.
digital marketing campaign aims to increase customer engagement by providing relevant, timely,
and exciting content and offers. This objective can be done by creating blog posts, video
tutorials, and email campaigns tailored to the company's target demographic. Additionally, ABC
Inc. should utilize social media channels like Facebook, Instagram, and Twitter to reach potential
customers and engage existing customers. The company should also create a loyalty program
that rewards customers for repeat purchases and offers incentives such as discounts or free
products. Finally, the company should experiment with retargeting ads and personalization
techniques to ensure that the right content is being shown to customers. By tracking the
performance of these strategies, ABC Inc. will be able to measure the success of its digital
marketing campaigns.
An additional key performance indicator for the ABC Inc. digital marketing campaign is
increased sales – measured by the number of ABC Super bundles sold. The digital marketing
plan must be monitored closely to determine whether the desired number of ABC Super bundles
are being sold. This indicator involves tracking and analyzing sales data regularly to identify any
trends, identify any areas for improvement, and ensure that the digital marketing plan is being
implemented effectively
(Si et al., 2020). Additionally, customer feedback should be gathered
and analyzed to improve the digital marketing plan further and achieve the desired results. This
data can inform the ABC Inc. marketing team of which strategies are working and which need to
be improved to reach the desired goal of increased sales of the ABC Super bundle.
The ABC Inc. digital marketing campaign will be developed using paid, earned, and
owned media tactics. Paid media will include a display and social media advertising, while
earned media will include influencer and content marketing. Owned media will include the ABC
Inc. website, email marketing, and social media channels.
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The initiatives and activities of the strategy include display advertising to reach a broad
audience and promote the ABC Super bundle. Ads will be targeted at the target audience on
various platforms, such as Google, YouTube, and Facebook. Social media advertising will be
used to increase the reach of the ABC Super bundle to the target audience on platforms such as
Facebook, Twitter, Instagram, and LinkedIn. The strategy also taps into the power of influencers
to promote the ABC Super bundle to their followers. Influencers will be chosen based on their
reach and relevance to the target audience (Peter and Dalla Vecchia, 2020). Content marketing
will be used to create and share content relevant to the target audience and promote the ABC
Super bundle. Content will be made for the ABC Inc. website and social media channels. We will
optimize the ABC Inc. website for a better user experience and higher conversions. We will also
include content about the ABC Super bundle to educate potential customers about the product.
We will use social media to engage with our target market and build relationships. We will create
content about the ABC Super bundle, share it on our social media channels, and engage with
customers through comments and direct messages. Lastly, email marketing will reach the target
audience directly and promote the ABC Super bundle based on their interests.
The performance of the ABC Inc. digital marketing campaign will be measured using the
KPIs mentioned above. The metrics will be tracked and analyzed to ensure that the campaign
achieves its objectives.
Impact assessment
Internally, the digital strategy stakeholders include the company's management, sales,
customer service, IT, operations, logistics, and finance teams. All of these teams will be impacted
by the digital marketing plan in some way, and the plan's success will depend on each team's
cooperation and efforts. The company's management is the primary internal stakeholder,
responsible for setting the company's strategic goals and objectives and providing overall
direction for the digital marketing plan. The marketing team develops and executes the digital
marketing plan. The sales team ensures that the ABC Super bundle is sold to customers promptly
and cost-effectively. The IT department is responsible for designing and building the digital
marketing platforms and tools needed to execute the digital marketing plan.
Externally, several stakeholders will be impacted by the digital marketing plan. These
include current and potential customers, suppliers, retailers, and the media. These stakeholders
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must be considered when developing the digital marketing plan. ABC Inc.'s customers are their
primary external stakeholders. Their feedback and preferences should be taken into account
when designing the digital marketing plan for the ABC Super bundle. Competitors are another
external stakeholder considered since they offer similar products or services and products or
services that could be substituted for the ABC Super bundle. Suppliers are responsible for
providing the necessary materials and components to produce the ABC Super bundle. The
company should consider utilizing suppliers to maximize their marketing efforts in the digital
marketing plan. Investors provide the necessary financial resources for developing and
implementing the digital marketing plan.
The success of the digital marketing plan will depend on the cooperation and efforts of all
stakeholders. The management team must provide the necessary resources and support to achieve
the goal. The sales team must be prepared to handle increased sales inquiries and orders. The
customer service team must be ready to handle increased customer inquiries and complaints. The
IT team must ensure the company's website and other digital platforms are appropriately set up
and functioning. The operations team must provide the necessary resources are available to meet
increased demand. The logistics team must be prepared to handle increased orders and deliveries.
The finance team must be ready to take an increase in accounting and payment transactions.
Current and potential customers must be informed about the ABC Super bundle and its features.
Suppliers must be prepared to meet increased demand for the product. Other retailers must be
ready to compete with the ABC Super bundle. The media must be informed about the product
and its features. When these stakeholders are adequately informed and prepared, the digital
marketing plan will have a greater chance of success.
Conclusion
In conclusion, an effective digital marketing plan for the ABC Super bundle requires a
systematic approach to monitoring and measuring strategic and tactical marketing performance.
This systematic approach is necessary to ensure that the plan achieves the desired goals and
objectives. The monitoring and measurement process should include tracking key performance
indicators (KPIs) such as cost-per-click, click-through rate, impressions, leads, conversions, and
customer engagement. Additionally, regular plan reviews should be conducted to ensure that the
strategies and tactics achieve the desired results. This monitoring will enable ABC Inc. to make
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necessary adjustments to the plan to optimize the results. Furthermore, evaluation of the plan's
success should be conducted regularly to ensure that the plan meets the goals and objectives.
This evaluation will enable ABC Inc. to ensure the plan's success and achieve the desired
outcomes.
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References
Clarissia, M.S., 2019. A study on Ansoff Matrix Technique: As a growth strategy and an adaptive
learning technique adopted in the leading brand of products.
Journal of Composition
Theory
,
12
(9), pp.1494-1506.
Camilleri, M.A., 2018. Market segmentation, targeting and positioning. In
Travel marketing,
tourism economics and the airline product
(pp. 69-83). Springer, Cham.
Benková, E., Gallo, P., Balogová, B. and Nemec, J., 2020. Factors affecting the use of balanced
scorecard in measuring company performance.
Sustainability
,
12
(3), p.1178.
Si, Y., Wang, Y. and Zhou, D., 2020. Key-performance-indicator-related process monitoring
based on improved kernel partial least squares.
IEEE Transactions on Industrial
Electronics
,
68
(3), pp.2626-2636.
Peter, M.K. and Dalla Vecchia, M., 2021. The digital marketing toolkit: a literature review for the
identification of digital marketing channels and platforms.
New trends in business
information systems and technology
, pp.251-265.
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