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Strategy Definition Technique: Digital channel growth opportunity analysis (Optional)
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| bet | 27/31 | | Sana | 23.03.2021 | | Hajmi | 0,78 Mb. | | #13423 |
Strategy Definition Technique: Digital channel growth opportunity analysis (Optional)
Purpose: Review options for using digital channels to increase sales by developing new markets, products or services.
Instructions: Digital channels are often used simply for market penetration, so start here, then consider options for market and product development.
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Existing Products or Services
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New products or Services:
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New markets
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Market development strategies
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Diversification strategies
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Existing markets
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Market penetration strategies
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Product development strategies
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Example:
Purpose: Online channels have a rich variety of methods to target your audience in new, more precise ways. This list summarises some of these options. See the Reach section for an alternative method of visualizing these.
Instructions: Review which of these methods you are using now and which you could use in the future.
Targeting approaches
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Method
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Current capability / Future relevance (of 5)
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Priority for future P1-P3
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1. Classic profile-based demographic segmentation
(WE)
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Media targeting or personalised messaging on site and email based on characteristics
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2. Search behaviour (P)
Also organic.
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Target consumer behaviour grouped: SEO+PPC
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3. Content consumption (P)
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Using ad networks including GDN and remarketing
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4. Social Network interest-based targeting (P)
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E.G. Facebook, LinkedIn and Twitter interests
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5. Web personas (WE)
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Combine other characteristics and behaviours
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6. Customer lifecycle (WE)
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Target Email and Web messages according to length of time using online services
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7. Customer value (WE)
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Review current and future potential for existing customers
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8. Campaign message response and behaviour (WE)
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Use “sense and respond” behavioural targeting based on RFM (Recency, Frequency and Monetary value)
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9. Buying motivations and
behaviours (WE)
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Evaluation method and sensitivity to pricing against features, benefits, brand value
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10. Channel preference (WE)
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Communicate with customer in their preferred media e.g. Email vs Print and Phone (and according to value)
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Typical methods for applying these techniques: P: Paid media targeting E: Email personalization, W: Web or in-app personalization (when profiled, Owned media)
Strategy Definition Technique: Online Value Proposition summary
Purpose: To define the unique forms of customer value you can offer through your websites and apps to encourage customers to do business with you online or stay loyal.
Instructions:
How would you describe your business in one sentence as perceived by its customers?
Choose the most important differentiating attributes that show how your business delivers to its customers. How can these be emphasized online.
Considering the marketing mix elements as ways to differentiate your services online (Product, Price, Place, Promotion, Physical Evidence, Process, People)
Financial Value – Your dependability brings your customers a quality product at a low price.
Innovative Products – You are always bringing your customers the very newest products or ideas.
Customized Relationships – You can tailor your services to meet the needs of your customers.
Summarise your online value propositions (OVPs)?
1. Selection online value. How does the content and experience in your sites/social media/communications help people choose the best products for them?
2. Personal online value. How does the experience in your sites/social media/communications help people at home (e.g. education or entertainment) or work (personal or career development)?
3. Product online value. What benefits does buying from your business online offer compared to traditional channels or competitors? i.e. in the Marketing Mix, e.g. Product selection, Differential price, Convenience of click and collect.
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