Need to determine an appropriate digital marketing plan based on the information from a simulation. I’ve attached multiple documents, if you need more information please let me know and I can look to see what’s available for export in the simulation.
Digital Marketing Plan
Digital marketing is the most effective way for Cycle Elite to reach its target audience, the mountaineers and the youth, to increase its sales and become more competitive compared to its main rivals, such as Velo, 3D Bicycles, and Pedal to the Metal. Digital marketing has grown as interactive marketing strategies to reach and appeal to a mass audience. Although other marketing strategies could be useful in marketing the division’s products, digital marketing is the most effective because it will help the team to generate and convert leads into customers.
Digital Marketing Strategies for the Division
The division should invest in and shift all of the promotional budgets in the simulation of digital marketing. The target audience for the division is mostly the youth and young adults (in the mountaineers segment), who have a major digital media presence. The large target market coverage using social media and other online marketing tools will enhance the company’s performance against its competitors. Oklander and Oklander (2017) suggest the role of digital marketing in the personification of business processes within a “seller-buyer” system. The most crucial factor behind the effective use of digital communication channels in marketing the products is the potential to appeal to digital communities, such as the mountaineers and youths, to promote organizational growth. The team will also capitalize on digital brand building, which is an excellent overview of business-to-business (B2B) business engagement (Cawsey & Rowley, 2016). The ability to reach other businesses to market the Cycle Elite brand justifies the use of digital marketing. The company will benefit from increased brand exposure, robust analytics using the massive amounts of data available online, and the low cost of marketing when using digital tools as opposed to other channels, such as conventional media.
Digital Media Impact
Digital media options will influence the division’s overall promotional plan by improving the five elements of the promotion mix. It will enhance advertising by increasing the number of audiences that the communication message will reach. Through the personification of business processes, the digital media will increase the contact between the division and its customers (Oklander & Oklander, 2017). It will also affect sales promotion by persuading customers to buy from the division by using appealing messages sent online directly to the audience. The digital strategy will also improve publicity and public relations because of the ability to forge direct relationships with the digital communities.
Digital Media Types and Options
The choice of the digital media to use will depend on the number of the audience, which shows the impact of the media on the marketing strategy. Chaffey (2020), in the article, Global social media research summary 2020, reveals the number of users of different digital media platforms (see the figure below for the numbers). From the numbers, the platforms that will have the most significant impact are Facebook, YouTube, and Whatsapp. The division will use the website and mobile apps to encourage purchases. The channels will achieve the objective of reaching more customers to generate sales and profits, as well as beat the current competition.
Monitor Digital Media
The team will monitor the effectiveness of digital marketing and adjust it based on the achievement of the division’s goals. It will collect data from the social media platforms, such as the number of followers and views, as well as the leads generated and translated into sales. Depending on the data, the team will decide whether to continue or drop some of the platforms and add new ones.
Cawsey, T., & Rowley, J. (2016). Social media brand building strategies in B2B companies. Marketing Intelligence & Planning. Marketing Intelligence & Planning 3(6), 754-776. doi:10.1108/MIP-04-2015-0079
Chaffey (2020). Global social media research summary 2020. Retrieved from https://www.smartinsights.com/social-media-marketing/social-media-strategy/new-global-social-media-research/#:~:text=Active%20social%20media%20users%20have,since%20this%20time%20last%20year.
Oklander, M., & Oklander, T. (2017). Segmentation and communication in digital marketing. doi:10.21272/mmi.2017.3-07