PROMOTIONAL STRATEGY XYZ... DIGITAL AGENCY
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CONTENTS PAGE
MISSION STATEMENT- 4 OBJECTIVES & USP- 5 THE CLIENTS- 7 ASSESSING MARKETING OPPORTUNITIES- 14 MARKETING MIX- 16 DETERMINING OBJECTIVES- 20 PRICING- 24 DISTRUBTION & SELLING- 26 PROMOTION- 27 PACKAGING- 28 COMMUNICATION CHANNELS- 30 SMART GOALS- 40 BUDGET- 41 SUMMARY & NEXT STEPS- 42
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XYZ‌ is a creative agency specialising in trend insights for digital marketing (with a focus on fashion, lifestyle and beauty). As a new company within the digital marketing industry, this promotional strategy aims to put XYZ‌’s foot in the door to increase online presence and to gain clients as well as sell trend reports to gain profit.
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OBJECTIVES: Increase online presence by gaining more followers on Instagram: 200 + in the first year of business. Work with 5 clients on personal projects to gain a respectable reputation as a trusted agency. Increase site visits to encourage the purchase of the 2020 trend insight report: 500 visits Have a successful Instagram page with regular posts to increase engagement. Sell 8 copies a month of the 2020 trend report
USP To be unique and stand out amongst other digital marketing agencies XYZ‌ provides a trend insights for digital trends that are up and coming in the year to come. Each year XYZ... will be producing updated content as trends in the digital landscape move and change rapidly. Within the updated yearly reports universal strategies will be included so that companies can always be aware of how to implement these trends into their company to stay ahead of competition. As a unique feature to XYZ‌ the trend report will also contain interactive Augmented Reality content for a unique viewing experience aimed to immerse the reader into the future of digital marketing. Moreover for any brand or company wanting specialised help the XYZ‌ consultancy service will always provide the most up to date knowledge for trend implementation and help brands achieve their goals. Whether it is to reach a new digital consumer group or successfully implement a new trend such as Augmented reality into their marketing strategy XYZ... consultancy will know what to do. . This USP of trend insight and implementation is a brand element I will actively be promoting as the combination of digital marketing and trend insight as one service is something not commonly seen within the industry of fashion marketing.
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As a new company, I don’t want to limit clients into a small sector. Although fashion, beauty and lifestyle are my specialities in terms of marketing. Digital trends can be applied to any industry, so to gain a reputation I won’t be limiting my services to fashion and lifestyle brands.
KEY ELEMENTS FOR MY CLIENTS FOR SERVICES: Already has an existing digital strategy in place. Due to being a new company, the businesses are likely to be small to medium in size. Be willing to change and updates to their existing brand strategy. *To gain clients I will target my communication to smaller brands as reach will more likely to be successful but if bigger clients come along I will also take them on as it could elevate my agency significantly.
WHAT CHANNELS DO SMALL BUSSINESS LIKE:
Most small business now have an online presence on social media such as Instagram and Facebook as it offers the easiest solution for brand reach. With most small business on these platforms, it makes Instagram and Facebook the best option for me to target them as they are often active and do brand research on these platforms as well.
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To have clear communication with potential clients my branding will follow a scheme to make the agency recognisable on all communication channels. However, since my agency has a focus on trend insights as digital trends change elements of my branding may develop with it to stay relevant.
Branding elements that will be always be consistent so communication isn’t lost: Logo, Typography, Tone of voice. *All other branding elements mentioned will be up for review each year as the trends change.
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DIGITAL AGENCY
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IMAGERY STYLE
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FRIENDLY PROFFESIONAL CONFIDENT CLEAR EXAMPLE: XYZ… is a trend forecasting company focusing on bringing you a holistic look on the future trends in digital marketing. Taking on a futurist’s perspective XYZ… uses a 360 approach to our methodology making sure each trend has appeared multiple times within the industry before we bring it to you.
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ASSESSING MARKETING OPPORTUNITIES
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-Specialist knowledge on digital marketing that isn’t widely known within the industry. -Multiple services are available for clients from trend insight reports for businesses just wanting to research and learn independently to a specialist consultancy for tailor digital strategies. -These services are always personal and all employees treat clients with respect and understanding since the agency addresses trends that most don’t understand. -Were not industry-specific since the digital landscape is now affecting all industry in terms of marketing. XYZ… is in the position to help many different brands. -Most trends are consumer-related and have a significant effect on brand presence so companies can use my service to expand their reach significantly in their chosen market. -XYZ… offers digital and physical copies of reports and includes strategies catering to the different needs of the customer. -By adding universal strategies into the reports adds a unique selling point and allows clients and consumers to have more freedom with what they require to elevate their strategies -Unique AR content within the report
-Increase demand for updated and different digital content will get clients to start looking for solutions -New technology and innovation will continue to happen and consumers will always develop their needs and wants, so digital trends will always be expanding. -As the internet continues to expand we are seeing new markets emerge and they require digital assistance -As the agency gains a reputation and finance increases we can provide more services such as more reports on the micro trends as well as macro trends, more specialised services for each trend that is up and coming as well as a service for setting up digital strategies from scratch. -New platforms can increase our chance to be noticed as they grow in popularity allow us to gain clients and increase purchase rates easier than on doing so on already popular platforms like Instagram.
-No experience in Money managing on a business scale (can do a short course) -Limited Financial resources -Little to no reputation as an established creative agency -Currently, only offer one report for each year -Only one employee so can only take on a limited number of clients at one given time. -There’s a strong trend focus on the Gen Z generation as the prime consumer group. Some brands may want to target other consumer groups. -Only offer a service which doesn’t offer to set up digital strategies only expand and develop existing ones.
-General consumers have become more active in terms of noticing branded content so that can cause problems around marketing effectively to them. -As younger consumers come into prime consumerist years they also have an increased digital presence and because of the nature of digital content trends coming and going quickly as we enter the future trends won’t stick yearly they will come and go a lot faster so updated reports will have to increase significantly. -It’s likely that other agencies will start picking up on trends and start developing tailored trend teams within their agencies. So an increase of competitors is likely as digital continues to expand. -Legislations around data protection can prose problems around data collection of consumer habits and analytical data to see how the campaign is doing. E.G GDPR in 2018 -Social media and digital realities as a concept themselves could cause a threat. Digital technology currently is widely used and enjoyed but as it continues to innovate users could turn away from the enjoyment and see it as a social issue which could decrease usage. (already see signs of this with older generations saying young generations are ‘addicted’ to their phones)
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MARKETING MIX
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PRODUCT A yearly trend insight report complete with a universal strategy guide supporting each trend. Personalised consultancy service which can help brands with their digital update needs from implementing new trends with specialised help to consumer insight information through analysis of their existing consumer group. These products will be updated yearly and as the business expands micro and macro trend and consumer insight will be realeased as individual reports. WHY MY PRODUCT: These are products/ services that my competitors don’t currently provide as digital marketing and trend Insight is normally separate to marketing. By combining the two creates a unique product which provides useful information to help brand future proof their digital presence. The trend report can be used as a reference guide throughout the year to keep their knowledge up to date which allows them to stay ahead of their competitors.
PRICE Each consultancy service will differ in price depending on the needs of the client but to gain some profit even the smallest jobs will start at £100. Since my reports have an added feature of universal strategies and Augmented Reality features my price will be increased slightly. From an audit I conducted the more expensive reports out there can cost around £250 and the lowest around £40. Therefore I will price around £100 to cover printing and packaging costs and to make a profit (See budget for breakdown).
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PLACE Since XYZ… is a digital agency all products and services purchase options will start out digital. For the report, an e-commerce option will be available on the brands Facebook page and on the agency site, there will be a ‘shop’ option by filling out the contact us form. Due to costs having an e-commerce option built into the site it doesn’t fit within the budget. So as a startup, a Facebook store or going through as ‘contact to buy’ it more viable. Since most companies now have some form of online presence such as an Instagram account. Reaching them online should hold no problems for engagment as long as the promotion is targeted correctly.
PROMOTION Promotional methods will be discussed in depth throughout this strategy to ensure all bases are covered. The main areas that will be covered are digital channels including: Earned, paid and owned media Targeting the right consumers/clients Budget
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WHAT CHANGES ARE TAKING PLACE IN OUR BUSINESS ENVIRONMENT? ARE THESE OPPORTUNITIES OR THREATS? Digital marketing is always changing as digital platforms transform. This often creates a threat for business as they are unsure what to do as these transformations happen. XYZ‌ Helps brands eliminate the threat by helping them future-proof with trend insights and digital marketing campaigns. So for my agency, there is a lot of opportunity in the industry as new trends will always come and go the agency will always be able to provide insight and strategies for them.
Strengths and weaknesses of the company Strengths:
-Providing a unique not common service -Specialist knowledge -Can expand into other areas other than fashion
Weaknesses:
-Finance is low -Currently, limited services/ products compared to other agencies -No reputation yet as an agency
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WHAT DO I WANT TO ACHEIVE:
For 2020, release more reports to expand reach and profit. Increase social following: 200+ followers by the end of 2019 Get more site visits and take on clients. Have more engagement on Instagram with likes and shares.
WHAT ARE CUSTOMERS LOOKING FOR? WHAT ARE THEIR NEEDS?
My customers also fall under my clients. These are clients that are looking for help future-proofing their digital strategies as it can be hard to keep up to date with changes online. To stay relevant to the consumer brands must update but it can be daunting and time-consuming, so XYZ‌ as a digital agency can help brands stay informed and meet needs for up to date knowledge on future trends that help them stay relevant online.
WHICH CUSTOMERS ARE THE MOST PROFITABLE? Small to medium business Why they are the most profitable? They often rely on third-party agencies for strategy support. They want to stand out for being early adopters of trends. I can do this for them. They are more open to smaller agencies as they are in a similar position within their field.
WHAT MY AGENCY CAN OFFER: A more personal service Updated trends and service to implement them Slightly cheaper prices as my reputation is still growing
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HOW WILL I TARGET THE RIGHT POTENIAL CUSTOMERS: I will promote my products and services on online channels and direct the promotional material towards businesses in need of help. Through content and copywriting online I can reach out to my main target group to draw them into purchase the report or use the consultancy.
ARE THERE GROUPS I CAN TARGET EFFECTIVELY:
Yes, Brands are always looking to expand their strategies and my agency can provide that assistance to any company looking for a change. I can target small to medium businesses effectively as owners often look for solutions to have a bigger presence.
THE BEST WAY TO COMMUNICATE WITH THEM?
The best way to communicate with business owners will be online as my services and products aren’t regional. Online channels have the widest reach so having promotional content online is more likely to bring in clients and customers.
COULD I IMPROVE MY CUSTOMER SERVICE? As business increases, I will be able to expand my services and marketing team into more tailored trend sections as well as develop more reports for more in-depth trend insight.
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PRICING Product: I will price my report as a product that is value for money as it provides key information about upcoming trends for the following year as well as strategies to assist the businesses who have purchased the report. Because of the high quality and extra features including AR content, the report will be priced slightly higher than average startup products but not too high that customers don’t feel that it’s not worth their money. My price will be £100 for the 2020 digital trend insight report and I will promote it as a highquality product with a wide variety of content and immersive features like AR.
Service: Pricing for my service will be based on the needs of each individual client but as a starting price, I will be charging £100 ( for consultation and first strategy gave) as a starting fee so the business continues to make a profit. I will price my service as a reliable and trustworthy to draw in clients and as a startup, my prices will be slightly lower to appeal to clients and build a reputation but the service will be promoted as the same quality of more established agencies.
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As a startup business with limited funding, the best way to start distributing my products will be through a Facebook page with a ‘shop now’ button as it is a free service. I can also sell through my site but instead of adding an e-commerce store (the costs for that are also high) I have added a contact to buy option where interested clients can fill in the form and we can complete the purchase that way. As the business expands adding on a website e-commerce shop will be the next step and by adding an e-commerce option will allow me to add the store to sell on Instagram making all my channels shoppable and therefore expand the reach of the trend report. In terms of the companies consultancy service to get the word out there about our offering, I will be advertising it on all brand platforms to extend the reach and with tailored content on advertising posts, it should draw in potential clients looking for digital agency’s services.
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PROMOTION
The best way to promote my products will be through online channels such as my Instagram and Facebook page as it has the widest reach and I can tailor content specifically for the customers and clients I want to reach. I can also attend digital marketing conferences around the country to network with other like-minded people and companies to generate some word of mouth and generate a client base to start building a reputation.
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PACKAGING Since I’m advertising my report as a high-quality product and I’m selling it at a price slightly above an average selling price for a startup. I want the buyers to receive a premium packaging service to match the report.
Packaging box:
Each report comes in a plastic A4 box in either pink, blue or purple to match the brand’s colours to protect the report, It also makes the report seem more valuable as the box can be used to store the report once with the client.
Inside packaging:
Each report will be gift wrapped to allow the consumer to have an unboxing experience. The gift wrap will be holographic film wrap to reflect the digital aspect of my brand (the film reflects light in a way that adds this ‘digita’l effect). This wrap will then be secured with 3 holographic stickers in the brand colours to represent the three dots and the end of the agency name XYZ(...)
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I will be sticking to digital channels for my first promotional strategy, Being a startup means finance is limited and digital marketing often allows for cheaper marketing solutions
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WEBSITE - OWNED MEDIA My website will be the ‘hub’ for my business. To have the most impact with potential clients my site outlines my key services from the 2020 trend report to the consultancy service to showcase why my services are the best for them. Throughout the site, I have stuck to my brand identity with a strong colour palette so all my channels and products link. Which will allow the audience to see each channel and have an association with XYZ… I have also ensured the logo is present multiple times throught the site so that they become familiar with the logo.
Pros:
A good place to have a central ‘hub’ for brand information. Allows the brand to showcase more skills and projects in depth such as client briefs. Can sell products through an online e-commerce.
Cons:
Without good SEO, my brand’s site won’t show up in search results. Having a professional site is a big cost and adding e-commerce features increases that cost. With the rise of social media and shoppable features on there some customers don’t even access brand sites anymore.
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SOCIAL MEDIA: INSTAGRAM AND FACEBOOK -OWNED MEDIA The brands Instagram channel is my main source of promotion and communication. To stand as a business the account has been upgraded to a business account which allows me to add contact details to my page as well as add my website. Making all my owned media omnichannel. To reiterate it is the same brand’s channels and the website the logo will be the brand’s profile image which is also on the site. To stand out against other digital agencies on this channel I aim to make my content unique and follow a strong theme to make my feed different and visually appealing to catch attention
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CONTENT GUIDELINES
Bright and colourful and within the brand primary colour pallete for 2020 (blue, pink and purple) Alongside each post, the caption will contain a key piece of information about upcoming trends to further draw interest in the future of digital marketing and about my services as a trend insight digital agency Each post will have tailored hashtags regarding each trend and what the company offers to extend the reach of potenial customers.
Examples of hashtags:
#digitalagency #futuretrends #innovation #xyz‌ #creativeagency #conusmerinsights #digitalexperiences #socialmedia #digitalmarketing #socialmediatrends #generationz #augmentedreality #marketingtips #fashionmedia #fashionmarketing 33
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PRODUCT CONTENT Since I will have two forms of content the first one being general content to draw in interest to my feed and generation interest in my brand that way. I will also have content that sells my services and products which will follow slightly different guidelines. As a startup for my promotional product content, I will have a focus on the trend report as its the most efficient way to show what the company can offer. The report offers a cheap solution to brands looking for a futureproofing service. As a new brand, it helps clients feel more secure in using a product to start with rather than a paid consultancy service. So by pushing the 2020 report on all communication channels is the best start to building the brands reputation which in turn will generate clients to the consultancy as the business grows.
Guidelines:
Imagery still follows image guidelines of bold bright colours within the colour scheme. Within the caption instead of key data it will contain a short descriptive sentence about the product or service. E.G. Our 2020 Trend insight report is available now! Worried about the future of your brand? The XYZ.. consultancy can help you future proof your digital strategies today? Hashtags will also be similar but more product-focused Examples:
#trendreport #consultancyservice #creativeagency #trendinsights #digitalservices#trendimplemention #startup #smallbussiness #enturpuenure 35
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PROS:
Wide Reach A great form of visual communication. A free form of communication. More authentic relationships and conversations are more organic.
CONS:
There's now a lot of brands with social media channels, so getting noticed is harder. Social platforms need constant monitoring and updating to be effective. Any mistake can have detrimental effects on a brand. Time-consuming.
Best times to post:
-Weekdays -Cant use analytics to find the best time yet so to start I will post in the afternoon around 3-4pm as that’s when users mainly start checking their feeds.
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SEO - EARNED MEDIA As a digital marketing agency SEO is very important as there’s lots companies offering services in digital marketing. So organically improving SEO can get my business seen more.
Ways to increase my SEO:
Tailored towards voice search as it reaches more niche audiences: Make sure keywords are present on my website to increase search results- use answer the public to find the best ones Update google business listing Have an FAQ section using keywords on the website Making sure my mobile and digital sites are optimized for easy access- mine is currently low but a lot of it is coding issues so will have to bring in a specialist to fix it
Doing this should make my business appear higher in search results and increase earnedvisitors
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Instagram is my main platform for communication and promotion so for my paid media solution. I will be investing in Instagram ads to make sure my content is reaching my prefered audience/ clients. Instagram has become a tool for discovery so having a focus on it as a promotional platform in all media aspects will likely increase my brand presence and draw in customers for the report or clients for the consultancy. To monitor the paid ads I will be able to use instagrams built in insights within my profile as my page is a business account.
Pros:
Easy way to target clients Easy to use and set up Can monitor through Instagram itself
Cons:
Paid content isn’t a prefered form of content amongst Instagram users If content gets wider reach and isn’t liked it can cause a backlash against the account It costs money and the more you want the higher the costs
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SMART GOALS
Measure the number of purchases digital or physical of the 2020 trend report over 4 months: 35 sales minimum Grow my Instagram following by 500 followers by the end of 2019 Get my site to the second or first page of search results under ‘XYZ... digital agency’ By measuring these goals it will indicate if my strategy is working or changes need to be made to reach customers 40
BUDGET Website: £61.21 for the first year of purchase after that £102 per year £135 for an account with e-commerce option. Content development: £50 month for resources Adobe software:
£19.97 month - photoshop and InDesign- £479.28 yearly subscription (Can’t afford premiere so will use free editing software- DaVinci Resolve) Printing costs: One report £12.28 AR software: £36 a month, yearly, £300 Insta Ads: £30 budget Packaging and shipping costs:
Box= £4.00 Extras: Film Wrap, stickers, paper etc: £2 per box 1st class shipping: £1.97 External packing for shipping: £2
Overall costs:
Overall report cost: £58 - sell for £100 = £42 profit Yearly running cost excluding report ( purchase covers that cost) £920.40 / 12 = £76 a month on expenses Selling 8 copies a month (to meet smart goals)= £42 x 8= 336 - £76= 260 profit a month
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Each month I will be monitoring my goals and aims to make sure im on track to reach them and gain a profit. If I below target my strategy for promotional content will have to be revistied and issues fixed.
As the business reputation grows and profit increases I will be able to expand my business offerings.
What I will do next:
Add shoppable features on all platforms Expand reports into Micro sections Expand owned media with a LinkedIn account As the digital landscape also innovates reports and service updates may become more frequent down to a quarterly release to stay above the competition.
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GINA MANNELL BAFM303
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