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Internet Marketing Strategy
e-MarketingStrategy
Ivan Surjanovic, [email protected]
Copyright 2014 by iPower Labwww.ipowerlab.com
Internet Marketing Strategy
Strategy defines:
1. How to achieve our goals
2. How to respond to opportunities and threats in the environment
3. How to outcompete rivals in the long run
Internet Marketing Strategy
Management = the art of getting things done!
Internet Marketing Strategy
Marketing = discovering and satisfying customers’ needs!
Internet Marketing Strategy
“Nine rules of Marketing”
2. Discover target customers’ needs and satisfy them with 4Ps!
1. Discover target customers’ needs and satisfy them with 4Ps!
3. Discover target customers’ needs and satisfy them with 4Ps!
4. Discover target customers’ needs and satisfy them with 4Ps!
9. Discover target customers’ needs and satisfy them with 4Ps!
5. Discover target customers’ needs and satisfy them with 4Ps!
6. Discover target customers’ needs and satisfy them with 4Ps!
7. Discover target customers’ needs and satisfy them with 4Ps!
8. Discover target customers’ needs and satisfy them with 4Ps!
“Creating WOW through Inspiration” (TEDx - YouTube video)
4. Strategies and Tactics
5. Implementation
6. Evaluation & Control
1. Vision
2. Situation Analysis
3. Objectives
Strategic Marketing Process
Internet Marketing Strategy
1. VISION
“Where do we want to be in the future?" Vision statement describes future, desired state of
our business / e-business
Online brochure => interactive site with search and login => e-commerce => web 2.0 => web 3.0
Internet Marketing Strategy
2. SITUATION ANALYSIS
SWOT (Strengths, Weaknesses, Opportunities and Threats)
5C Analysis: Context, Competition, Company, Customer, Collaborators
Porter’s Five Forces
Internet Marketing Strategy
3. E-MARKETING STRATEGIC GOALS
To enhance imageTo provide informationTo generate interestTo promoteTo sell onlineTo deliver (fulfill requests) To build relationships
Internet Marketing Strategy
3. E-MARKETING STRATEGIC GOALS
Make them S.M.A.R.T.:Specific, measurable, attainable, relevant, time-based
Examples of online marketing goals: - Increasing online sales by 10% each month - Increasing website conversion rate from 2% to 2.5% by the end of the year
- Increasing monthly website traffic (measured by number of unique visitors) by 30% in the next month
Internet Marketing Strategy
Strategies: how Tactics: what
Strategies: long term Tactics: short term
Strategies: general, big picture Tactics: more specific
4. STRATEGIES AND TACTICS
Internet Marketing Strategy
GOALS, STRATEGIES and TACTICS (examples)
Goal: Increase online sales by 30%
Strategy: Increase customer loyalty
Tactics: - Social media (Facebook and Twitter) marketing
- e-Newsletter marketing
Internet Marketing Strategy
MARKETING STRATEGY IS ALL ABOUT STP:
SEGMENTING – TARGETING – POSITIONING!
Market segmentation for online accounting software
Internet Marketing Strategy
Online segmenting / targeting:
• Demographic (e.g. based on age, gender, income)• Behavioural (e.g. based on usage or loyalty) • Psychographic (e.g. based on attitudes)• Geographical targeting
• Retargeting
Internet Marketing Strategy
Targeting Customer (C) with Marketing Mix (4Ps)
Perceptual Map
Attribute 1 (e.g. great content on the site)
Attribute 2 (e.g. interactivity of the site)
Competitor B
Competitor C
Competitor A
Competitor D
Cost Leadership Differentiation Focus Hybrid strategy
(Best-value)
FOUR GENERIC COMPETITIVE STRATEGIES
SWOT STRATEGY MATRIX Internal Factors
Strengths (S): Weaknesses (W)
External
Factors
Opportunities (O) BE AGGRESSIVE: Use your strengths to take advantage of great opportunities
MAX - MAX: Maximize use of strengths - Maximize opportunities
REDESIGN:Redesign your business, fix or neutralize your weaknesses in order to take advantage of opportunities
MIN - MAX: Minimize weaknesses - Maximize opportunities
Threats (T) DIVERSIFY: Use your strengths in new markets
MAX - MIN: Maximize use of strengths - Minimize threats
BE DEFENSIVE:Consider divestiture or liquidation MIN - MIN: Minimize weaknesses - Minimize threats
SWOT STRATEGY MATRIX (Example)
Strengths (S):- Effective, professionally done website- Innovative, high end products
Weaknesses (W)- Low visibility on search engines- Lack of e-commerce capability on the site- Lack of online marketing experience - Expensive product
Opportunities (O) - Growing offline and online demand for products - Growing online sales on international markets
BE AGGRESSIVE (MAX – MAX) - Advertise on Google locally and internationally
REDESIGN (MIN – MAX) - Optimize the site for search engines- Build e-commerce (shopping basket) capability on the site- Hire experienced web marketing professionals
Threats (T)- Emerging international competition with lower priced products
DIVERSIFY (MAX – MIN) - Build an online brand, build relationships with existing customers through e-newsletter marketing
BE DEFENSIVE(MIN – MIN) - Outsource part of the web work internationally- Partner with or acquire international suppliers
Product / Market Strategies Product Growth
Market growth
Existing Products New Products
Existing Markets
MARKET PENETRATION STRATEGIES
Use Internet to:- sell more to existing customers (better “stomach share”)- sell products to more customers - improve customer loyalty-improve customer service , convenience, add value - better inform and educate customers
PRODUCT DEVELOPMENT STRATEGIES
Use Internet to:- increase product range (introduce new, digital products)- add value to existing products (e.g. online manuals, online updates)- improve payment models (e.g. subscription)
New Markets
MARKET DEVELOPMENT STRATEGIES
Use Internet to:- sell in new countries- sell to new customer segments
DIVERSIFICATION STRATEGIES
Use Internet to horizontally diversify into related and unrelated businesses
Use Internet for (forward and backward) vertical integration
Internet Marketing Strategy
REVENUE MODEL STRATEGIES
Direct sale of products or services (e.g. Amazon) Subscription (e.g. Netflix, SurveyMonkey) Advertising (e.g. Google.com, Metrolyrics) Commission based (e.g. eBay; also referal marketing -
websites that affiliate their business with Amazon)
4. Strategies and Tactics
5. Implementation
6. Evaluation & Control
1. Vision
2. Situation Analysis
3. Objectives
Strategic Marketing Process
Internet Marketing Strategy
eMarketing Strategy : Recap
SWOT – O – STP – 4P
Internet Marketing Strategy
SEVEN KEY STRATEGIC DECISIONS
What are your market segments? Which segments do you want to target? What is your positioning strategy? Which of the four generic competitive strategies are you
going to use? What are your SWOT strategies? What are your product / market strategies? What is your revenue model strategy?
Internet Marketing Strategy
Thank You!
Ivan Surjanovic, [email protected] 2014 by iPower Lab
www.ipowerlab.com
