Explain The Digital Marketing Environment With All The DIGITAL TREND

University: UKCBC College

  • Unit No: 6
  • Level: Undergraduate/College
  • Pages 10 / Words 2500
  • Paper Type: Assignment
  • Course Code: MKT302
  • Downloads: 1
Question :

Social media marketing comprise of a process that is used to gain attentiveness of consumers in all the social media sites by the help of internet. There will have to make the digital marketing objectives, strategy, tactics, action and control on the same company as CW1. Give the social marketing trend along with their 5-year plan. Kindly do address all the learning outcomes

  • Explain the digital marketing environment with all the DIGITAL TREND. Elaborate all the key digital strategic options for all the Company X that will attain the  increasing.
  • Develop the TWO SMART long term various digital marketing with all the objectives. Company X that focus on making all the improving the customer acquisition within digital marketing.  Explain all the DIGITAL TREND through making the framework.
  • Recommend all the justified and the digital marketing strategy by making the tactics and along with that select the DIGITAL TREND that covers the customer acquisitions.
Answer :
Organization Selected : TSSC

INTRODUCTION

Social media marketing is a type of process which is used to gain the attention of consumers through social media sites using internet. This method is very effective for any company to promote their products. It is also known as e-marketing or digital marketing. Present report will talk about The Social Selling Company (TSSC) which is a B2B business. It will explain about digital trends which are micro influencers for the given company. This report will focus on key areas of the marketing environment which is related to this trend and develop two SMART long term digital marketing programs which can be useful for The Social Selling Company to implement for their next five year plan. It will also discuss about digital marketing strategy and tactical mix with focusing on supporting improvements proposed for customer acquisition for organization.

TASK 2

(A) Key areas of the digital marketing environment and digital strategic options for the organization

Social Selling Company provides solutions to the B2B businesses to enhance their social media presence by providing them a ready-made portfolio which can help them to promote their services and products in social media. Company is focusing on one trend to increase their online customer acquisition which is the micro-influencer marketing strategy. It is a type of marketing strategy which is used by the firm to increase their consumers (Chaffey, 2016). They often have very high engagement with company. Using micro-influencers may seem unreasonable for company but it will help them to attract more clients to buy their services. For this, The Social Selling Company should analyze digital marketing environment of firm to get a better understanding of their business to implement this strategy into system. For this, TOWS and PESTED analysis will be useful for them (Micro-Influencer Marketing: A Comprehensive Guide, 2018.).

Digital Marketing Analysis

This process will help the organization to analyze both; micro and macro environmental factors which can affect them. In micro-environment which is also known as ‘operating environment’ focuses on the customer's needs and wants. Whereas, in macro-environment factors, they will focus on the forces that can influence their digital marketing (Tuten and Solomon, 2017).

TOWS Analysis

This process will be very useful for company to analyze their strengths and weaknesses. It will also help them to get information about the opportunities and threats which can arise.

Threats

It has to be analyzed very carefully by company as it can affect them a lot.

  • The greatest threat for them is the competitive environment.
  • To compete with them, they have to implement strategies which are unique from their competitors.
  • It will help them to attract customers and will increase their company image (Scott, 2015).

Opportunities

To get any opportunity from market, it is very crucial for The Social Selling Company to have a good knowledge of their marketing analysis. It will help them to plan their strategy according to that.

Weakness

  • Average online presence in promoting their services in social media platform.

Strength

  • It is the UK's Largest Dedicated B2B Social Selling Agency which is the greatest strength of this firm.
  • Company has a strong presence on social media platform which can help them to increase their online customer acquisition (Atwong, 2015).


This process will help The Social Selling Company to understand the external macro environmental factors which have a huge impact on their functioning which includes political, economic, social, technological, environmental and demographic analysis which is explained as below (What is PESTLE Analysis? A Tool for Business Analysis, 2018):
PESTED Analysis

Political Factor

This is the most important factor for company to follow properly.

  • This includes factors like government, foreign trade and tax policy, labour and environmental law, etc.
  • It can affect their entire revenue generating structure and their business environment as well.

Economic Factor

These factors include all the economic changes which occur in country. Economic factors include inflation, interest and foreign exchange rates, economic growth patterns, etc.

  • Rise in inflation rate can affect the pricing strategy of their products and services.
  • It would also affect the purchasing power of consumers as well (Constantinides, 2014).

Social culture Factor

This includes the social behavior of their customers and its market.

  • This can include factors like, age, gender, preferences, population growth, etc.

Technological Factor

These factors pertain to innovation in technology that may affect operations of industry and market favorably or unfavorably.

  • Working as a technical firm, it is very important for The Social Selling Company to have all latest trends in terms of technology.
  • They should have all the new tools for their company.
  • These can include new ways of producing and delivering their services (Broekemier, G., Chau, N. N. and Seshadri, 2015).

Ecological Factor

These factors include all those that influence or are determined by the surrounding environment.

  • They have to work accordingly which minimizes the risk of impacting their environment.

Demographic Factor

These factors are used to identify and understand their customers better to deliver their products accordingly. These can include factors like gender, marital status, race or ethnicity, income, education and occupation, etc (Chang, Yu and Lu, 2015).

From the above analysis, it is clear that The Social Selling Company has to do a market analysis to get information which can be used for implementing strategy into action. They are planning to emerge micro influencers marketing technique to increase their online customer acquisition (Hassan, Nadzim and Shiratuddin, 2015). Strategic options which can be concluded for the organization from this analysis can include factors like they have to implement new techniques and procedure to attract customers such as they can bring innovation in their existing services. Improving the online presence of the business by implementing highly effective marketing strategy (Janssen, 2016).

(B) Developing two SMART long term digital marketing objectives for organization

It is very important for company to have SMART objectives which can help them to achieve their targets or objectives effectively. It will also help them to increase their customer acquisition as well. SMART objectives stand for specific, measurable, attainable and relevant as well as time specific (Armstrong and et.al., 2015). These will help to set realistic targets for them to achieve in future and plan their strategies which can be used by The Social Selling Company for the next five years. When identifying specific marketing objectives for company which can support their long-term goals, it is very important to apply SMART mnemonic in system (How to define SMART marketing objectives, 2018). It will also help in increasing their online customer acquisition.

Two SMART digital marketing objective of The Social Selling Company can consist of,

  • Objective. To grow their sales by 15% within next 6 month which can help them to increase the average order value of online sales up to 50% per customer, and Using LinkedIn to post interesting content trying to gain 1,000 more followers within the end of 2018.
  • Acquisition Objective. To acquire 50,000 new online customers this financial year at an average cost per acquisition (CPA) of £50 with an average profitability of 10% which is to increase their active customers purchasing at least once a quarter to 300,000 in a market.

It is very important for them to plan their strategies according to these objective which can help them in achieving this. To increase their revenue contribution they can implement some new strategies into their system which will improve their services and can help them to increase their customer rate. It will also ensure to enhance their brand image in the target industry. It will also increase their market share if they implement these strategies (Zimmerman and Ng, 2015). As working for the upliftment of B2B business to improve their inline image it will be very significant for them. Both these objectives are set in order to acquire micro influencers marketing technique for the company which they are using to increase their online customer acquisition 10 reasons you need a digital marketing strategy in 2018, 2018.).

Both the objective of digital marketing should be according to the preferences of their customers so that they can deliver their services as per their needs and wants from the company. This will help them to satisfy their customers and gain their trust (Digital marketing strategy: How to structure a plan?, 2018). To achieve these objectives they have to plan their strategies according to that which can help them to accomplish it, such as,

  • Developing strategic options for company,
  • Responding to one or more opportunities and/or threats which the can face,
  • All the steps of strategy should be related to their output, input, mission and vision,
  • They should also be creative which can help them in attracting customers (LePage, 2017),
  • They can develop various options related to the opportunity or threats,
  • For each threat or opportunity they can try to formulate at least one strategic option which can be beneficial for them.

Company needs to create an effective marketing plan which can help them in acquiring their objective successfully which will help them in gaining good reputation in the industry which will ultimately increase their online customer acquisition (Leonardi, 2014). All these strategies should focus on the aim to enhance their micro influencer marketing technique for The Social Selling Company which can help their business to grow more in the industry (Hollensen, Kotler and Opresnik, 2017).

(C) Recommending a justified digital marketing strategy and tactical mix for organization

For achieving any objective it is very important to have a proper digital marketing plan to achieve that target successfully. For making this they can implement several steps, such as,

  • Planning : In this step they have to do proper planning of their strategies before implementing it into action. It plays an important role for the company (Ashley and Tuten, 2015).
  • Reaching : This will help them in building awareness using online marketing techniques which will drive visits to their website. This will ensure to increase their customer rate.
  • Action : This method helps to encourage interactions on the website or their social media handle such as, Facebook, Twitter, LinkedIn, etc. to help in generating leads for future strategies which can be applied by the in their system.
  • Engagement : This process will help to increase their sales from existing customers by improving their personalized communications using various methods, for example, website, email and social media marketing, etc (Killian and McManus, 2015).

All these activities should be done focusing to increase their online customer acquisition which will help to gain popularity and enhance their services. The digital marketing strategy document needs to be well structured, concise and clear. They should focus on customer acquisition process which will include their SMART digital marketing objective of The Social Selling Company (Hudson and et.al., 2016). The absolute best tactic for acquiring new customers is utilization of the power of content marketing. The great part about creating practical, useful content is that all of those shares and links will help you start to naturally rank in search engines. Implementing more focus on social media marketing which will be very useful for them (Customer Acquisition Strategies for Entrepreneurs, 2016).

Digital marketing mix of tactical activities which can be implemented by The Social Selling Company to achieve this strategy of implementing micro influencers marketing into their management system which is focusing on supporting improvements proposed for the increase in their online customer acquisition. Digital marketing mix includes various factor which has significant important in the company, such as:

  • Product: This will help them to make improvement in their products. Following are the services which is provided by the company,
  1. It helps to provide B2B social media service in the market.
  2. They are the campaigns in social media service.
  3. They also organize conferences for the company (Hudson and et.al., 2015).
  4. They provide facility of On-site and Off-site training development as well.

  • Place: This helps to identify place where they are delivering their product. Working as an online business it is very important for them to understand their responsibility. Places where they can deliver their service are as follows,
  1. They have their personal website.
  2. They also have facility to provide information on social media platform such as, Facebook, LinkedIn, Twitter, etc.

  • Promotion: This is the process which is used to promote their products and services to their customers to make them aware of their services.
  • They can use various platforms to do this process, for example, Google ad, LinkedIn, Facebook, Twitter, etc (Jugenheimer, Sheehan and Kelley, 2015).

  • Price: This is not mentioned in the website of the company. They generally provide online services to provide them a ready made portfolio of their company which they can use to enhance their presence online.

  • · People: People who work with company are highly educated and trained employee which can help them to deliver the best service to their customers.
  • TSSC has a small group of young enthusiastic staffs in their company (Dahl, 2018).

All these process are very useful for the company to implement in their management system to improve their services. These methods can help them to achieve their target which is ti increase their online customer acquisition and to implement micro influencer marketing technique into their service to enhance their work.

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CONCLUSION

From the above report it can be concluded that digital marketing plays an important role for any business to increase their presence in social media platform which can help them to increase their online customer acquisition for the company. This report also focuses on the micro influencer marketing technique for The Social Selling Company which they will implement in their system to achieve their target which is to increase their sales by 15% within next 6 month and acquire 50,000 new online customers this financial year at an average cost per acquisition (CPA) of £50 with an average profitability of 10% and by using LinkedIn to post interesting content to gain 1,000 more followers in the end of 2018 which will help them to achieve their target. All these set objective will be beneficial for The Social Selling Company to increase their customer rate. It also discussed about the strategic option which is used by the company to implement all these strategies into their system and recommended a justified digital marketing strategy and tactical mix which is useful for them.

REFERENCES

Books and Journals

  • Armstrong, G. and et.al., 2015. Marketing: an introduction.
  • Ashley, C. and Tuten, T., 2015. Creative strategies in social media marketing: An exploratory study of branded social content and consumer engagement. Psychology & Marketing, 32(1), pp.15-27.
  • Atwong, C. T., 2015. A social media practicum: An action-learning approach to social media marketing and analytics. Marketing Education Review, 25(1), pp.27-31.
  • Broekemier, G., Chau, N. N. and Seshadri, S., 2015. Social media practices among small business-to-business enterprises. Small Business Institute Journal, 11(1).
  • Chaffey, D., 2016. Global social media research summary 2016. Smart Insights: Social Media Marketing.
  • Chang, Y. T., Yu, H. and Lu, H. P., 2015. Persuasive messages, popularity cohesion, and message diffusion in social media marketing. Journal of Business Research, 68(4), pp.777-782.
  • Constantinides, E., 2014. Foundations of social media marketing. Procedia-Social and behavioral sciences, 148, pp.40-57.
  • Dahl, S., 2018. Social media marketing: Theories and applications. Sage.
  • Hassan, S., Nadzim, S. Z. A. and Shiratuddin, N., 2015. Strategic use of social media for small business based on the AIDA model. Procedia-Social and Behavioral Sciences, 172, pp.262-269.
  • Hollensen, S., Kotler, P. and Opresnik, M. O., 2017. Social Media Marketing: A Practitioner Guide.
  • Hudson, S. and et.al., 2015. The effects of social media on emotions, brand relationship quality, and word of mouth: An empirical study of music festival attendees. Tourism Management, 47, pp.68-76.
  • Hudson, S. and et.al., 2016. The influence of social media interactions on consumer–brand relationships: A three-country study of brand perceptions and marketing behaviors. International Journal of Research in Marketing, 33(1), pp.27-41.
  • Janssen, N., 2016. Swing for Success: A Social Media Marketing Plan For Hickory Ridge Golf Course (Doctoral dissertation).
  • Jugenheimer, D. W., Sheehan, K. and Kelley, L. D., 2015. Advertising media planning: a brand management approach. Routledge.
  • Killian, G. and McManus, K., 2015. A marketing communications approach for the digital era: Managerial guidelines for social media integration. Business Horizons, 58(5), pp.539-549.
  • Leonardi, P. M., 2014. Social media, knowledge sharing, and innovation: Toward a theory of communication visibility. Information systems research, 25(4), pp.796-816.
  • LePage, E., 2017. How to create a social media marketing plan in 6 steps. Hootsuite, August, 4.
  • Scott, D. M., 2015. The new rules of marketing and PR: How to use social media, online video, mobile applications, blogs, news releases, and viral marketing to reach buyers directly. John Wiley & Sons.
  • Tuten, T. L. and Solomon, M. R., 2017. Social media marketing. Sage.
  • Zimmerman, J. and Ng, D., 2015. Social media marketing all-in-one for dummies. John Wiley & Sons.
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