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Stages of planning
Its planning has three main stages: Opportunity, Strategy and Action. This generic strategic approach often has phases of situation review, goal setting, strategy formulation, resource allocation and monitoring.
- Opportunity: A business first needs to review the marketplace and set 'SMART' (Specific, Measurable, Actionable, Relevant and Time-Bound) objectives. We can set SMART objectives by reviewing the current company and competitors.
- Strategy: We create a planned digital strategy, the companies must review their digital proposition (what you are offering to consumers) and communicate it using digital customer targeting techniques. So, they must define online value proposition (OVP), this means the company must express clearly what they are offering customers online e.g. brand positioning.We will also (re)select target market segments and personas and define digital targeting approaches.After doing this effectively, it is important to review the process mix for online options. Comprises the 4Ps – Product, Price, Promotion and Place. Some academics have added three additional elements to the traditional 4Ps of marketing Process, Place and Physical appearance making it 7Ps.
- Action: The third and final stage requires the firm to set a budget and management systems; these must be measurable touchpoints, such as audience reached across all digital platforms. Furthermore, marketers must ensure the budget and management systems are integrating the paid, owned and earned media of the agencies.The Action and final stage of planning also requires the company to set in place measurable content creation e.g. oral, visual or written online media.
Codecorner's Latest Developments And Strategies
- Segmentation: more focus has been placed on segmentation within these process, in order to target specific markets in business-to-consumer sectors.
- Influencer marketing: Important nodes are identified within related communities, known as influencers. This is becoming an important concept in digitalaly targeting. It is possible to reach influencers via paid advertising, such as Facebook Advertising or Google Adwords campaigns, or through sophisticated sCRM (social customer relationship management) software, such as SAP C4C, Microsoft Dynamics, Sage CRM and Salesforce CRM. Many universities now focus, at Masters level, on engagement strategies for influencers.
- Online behavioural advertising is the practice of collecting information about a user's online activity over time, "on a particular devices and across different, unrelated websites, in order to deliver advertisements tailored to that user's interests and preferences Collaborative Environment: A collaborative environment can be set up between the organization, the technology service provider, and the digital agencies to optimize effort, resource sharing, reusability and communications.
Additionally, organizations are inviting their customers to help them better understand how to service them. This source of data is called User Generated Content. Much of this is acquired via company websites where the organization invites people to share ideas that are then evaluated by other users of the site. The most popular ideas are evaluated and implemented in some form. Using this method of acquiring data and developing new products can foster the organizations relationship with their customer as well as spawn ideas that would otherwise be overlooked. UGC is low-cost advertising as it is directly from the consumers and can save ads costs for the organisation.
- Data-driven advertising:Users generate a lot of data in every step they take on the path of customer journey and Brands can now use that data to activate their known audience with data-driven programmatic media buying. Without exposing customers' privacy, users' Data can be collected from digital channels (e.g:when customer visits a website, reads an e-mail, or launches and interact with brand's mobile app), brands can also collect data from real world customer interactions, such as brick and mortar stores visits and from CRM and Sales engines datasets.
Also known as People-based sales or addressable media, Data-driven ads is empowering brands to find their loyal customers in their audience and deliver in real time a much more personal communication, highly relevant to each customers' moment and actions.
- Remarketing:In thos Process plays a major role in this process. This tactic allows marketers to publish targeted ads in front of an interest category or a defined audience, generally called searchers in web speak, they have either searched for particular products or services or visited a website for some purpose.
- Display ads: Display ads, types of banner ad, this is a form of online paid advertising that is Common designe pictures or images.Users can then click on the picture with the advancement to then be taken to the analogous landing page..