Final Portfolio - Snooze Melissa Farquhar 10274457

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FUTURE

ISSUE

STRATEGY

NO. 01

•

•

BUSINESS

APRIL

2021

PROJECT

•

•

MATS34511

MELISSA

FARQUHAR

THE ULTIMATE SLEEP

FUTURE STRATEGY:

COLLABORATION WITH

BUNDLE

PODCAST

ELYSE FOX

Answer to sleep and wellness needs

Deeper engagement with the Snooze community

Mental Health advocate and inspiration

TABLE OF CONTENTS 1.0 2.0

EXECUTIVE SUMMARY ..........................................

CURRENT STRATEGY .............................................

2.1 INTRODUCING SNOOZE ....................................

2.2 MARKETING DIRECTOR ......................................

2.3 PROMOTION ..........................................................

1 3 4 5 6

3.0

FUTURE STRATEGY .................................................

3.1. STRATEGIC DIRECTION ....................................

3.2 MARKETING STRATEGY ...................................

3.3 STRATEGIC OBJECTIVES .................................

7 8 9 15

4.0

JUSTIFICATION .........................................................

4.1 WHY PODCASTS? ...............................................

4.2. BENEFIT OF PODCAST STRATEGY..................

4.3 REALMS OF EXPERIENCE ................................

4.4 STRATEGIC EVALUATION ...............................

17 19 20 22 23

5.0

IMPLEMENTATION ...................................................

5.1 OPERATIONAL PLAN ..........................................

5.2 EXECUTION ..........................................................

5.3 AS SEEN ON SPOTIFY .........................................

5.4 INSTAGRAM PROMOTION ...............................

5.5 PUBLIC RELATIONS ...........................................

5.6 STRATEGIC CONTROL .......................................

25 27 29 30 31 32 33

6.0. CONCLUSION .............................................................

34

7.0

REFLECTION ............................................................

7.1 DESCRIPTION ....................................................

7.2 FEELINGS ...........................................................

7.3 EVALUATION ....................................................

7.4 ANALYSIS ...........................................................

7.5. CONCLUSION .......................................................

7.6. ACTION PLAN .....................................................

35 37 38 39 40 42 42

8.0

APPENDIX ...................................................................

43

9.0

REFERENCES .............................................................

56

LIST OF FIGURES 1

CURRENT MARKETING PLAN ............................................. 5

2

ANSOFFS MATRIX ................................................................. 9

3

SNOOZE SCRUNCHIE ............................................................ 10

4&5

SNOOZE X ELYSE FOX LOGO ............................................... 13

6

STRATEGIC OBJECTIVES ...................................................... 15

7

FOUR REALMS OF EXPERIENCE ........................................ 22

8

PREFERED PODCAST PLATFROM ...................................... 29

9 &10

PODCAST AS SEEN ON SPOTIFY ......................................... 30

11

INSTAGRAM @SNOOZEXELYSEFOX ................................. 31

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GIBBS REFLECTIVE CYCLE .................................................. 36

13

@SNOOZEUNDERTHESTARS INSTAGRAM ....................... 37

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SNOOZE PRODUCTS .............................................................. 38

15

CONSUMER DECISION MAKING PROCESS ....................... 40

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FOUR REALMS OF EXPERIENCE .......................................... 41

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F U T U R E

S T R A T E G Y

/

R E F L E C T I O N

1.0 EXECUTIVE SUMMARY This report serves to breakdown the future extension strategy aiming to develop Snooze in the current market. A rationale of the justification and implementation will support this report, along with evidence of an opportunity in the market.

A reflection on the overall experience will be outlined, with support of the development of key skills acquired during this business project. The reflection of my Business Project experience guided the idea towards my future strategy.

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Situational Analysis

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2.1 INTRODUCING SNOOZE current strategy

The prevalence of mental health and sleep after Covid-19, paired with the growing sleep market, highlighted an opportunity to invent Snooze (BBC, 2020). Snooze offers a satin sleep bundle, designed to improve sleep and therefore overall mental wellbeing, with a complimentary star sign personalization. Research had shown a growing curiosity in astrology as a sense of guidance and reassurance during these uncertain times (McKinsey & Co, 2020). Snooze pride themselves for being the first sleep bundle with two pillowcases and a travel pouch, providing a USP and value creation for the consumer. Throughout the first year, Snooze aim to have launched four bundles aligned to prime events including Valentine’s Day and Christmas.

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2.2 MARKETING DIRECTOR ESTABLISH THE TARGET SEGMENT, BRAND IDENTITY AND COMMUNICATIONS STRATEGY Snooze expressed a unique brand identity, capturing the calming tones and relatable brand values, outlined in Keller’s Brand Equity Model (Appendix 1) (Keller, 2001). The main force of marketing is currently through Instagram, the platform evidenced by 81% of Snooze consumers to be their preferred method of online interaction (Focus group, 2021).

Instagram was used to drive brand awareness, build a community and educate the consumer on the brand and importance of sleep to mental wellbeing (Brodie, 2011; Writz, 2013).

TARGET SEGMENT Demographic

Gender: Female Age: 16-24 year olds Income: middle-income Occupation: Students and young professionals Lifestyle: Busy, career driven, appreciates the luxuries in life Passion: Self-care, care, wellness and astrology

Figure 1: CURRENT MARKETING PLAN August 2021 to 2022 (Authors own, 2021) See Appendix __ for Gantt chart prior to future strategy

PRIOR TO LAUNCH LAUNCH INSTAGRAM: CONTENT inc stories,

#Travelwith

post, Q&A

snooze

Infographics on self

SEPT

care, sleep

Launch +

and mental health

1st bundle

Insta Live X Elyse Fox

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Customer centric approach

UGC / Daily content

DEC

Christmas bundle

Snooze X Manchester Mind

Promote

Self care

Launch

Sunday content

Giveaway

PR EVENT

Manchester Markers Market

Meditate with

Pop-Up

Snooze

10% student discount

JAN

Launch Galentines bundle

IGTV X Manchester Uni

Summer sale

Giveaway

MAY

#TravelwithSnooze

Launch

campaign

wellbeing

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EXISTING

NEW

MARKET

PRODUCT

PENETRATION

DEVELOPMENT

MARKET

DIVERSIFICATION

Increasing Risk

NEW

STCUDORP

EXISTING

MARKETS

DEVELOPMENT

Increasing Risk Figure 2: ANSOFFS MATRIX (Ansoff, 1987)

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F U T U R E

S T R A T E G Y

Market Penetration

With the consideration of the SWOT

Ansoff’s Matrix (1957) outlines four

analysis (Appendix 2), it is apparent that

strategic option for the long term growth

there is an opportunity for Snooze to pursue

of a business (McGoldrick, 2015),

a marketing campaign in order to exploit

influenced by opportunities in the market

brand equity and build awareness (Gilbert,

and business resources (Kotler, 199).

2003; Goworek & McGoldrick, 2015). As the

Snooze will take a market penetration

Snooze products move from the introduction

strategy (Ansoff, 1957) to drive awareness

to the growth stage of the Product Life Cycle

of the existing Snooze bundle and their

(PLC) (Appendix 3), the marketing mix can be

USP, to the existing consumer segment

adapted to prolong this cycle, in particular

(Figure 2) (Vasanen, 2007). This strategy

the promotional mix (Goworek &McGoldrick,

is appropriate for a startup business like

2015).

Snooze, with a low customer base and minimal capital available; a strategy such as diversification would be too risky (McGoldrick, 2002). There is an opportunity within this current market as millennial spending is forecasted to grow at a higher rate (2.6%) than other generations (see SWOT analysis Appendix 2) (Experian, 2019).

Figure 3: Snooze scrunchie, (Snooze, 2021)

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Future Strategy

It is apparent that Digital Marketing is more important than ever since consumers are spending increasing amounts of time online as a source of entertainment (Chaffey, 2013). As a form of digital marketing, Snooze will extend the promotional mix through the launch of a podcast, in collaboration with the wellknown mental health advocate Elyse Fox. Elyse Fox is the founder of @sadgirlsclub, a renowned mental health community on Instagram with a combined following of over 300kfollowers. Elyse and @sadgirlsclub share positive mantras, motivational messages and coping mechanisms to a young audience, similar to that of Snooze (Klein, 2018).

ELYSE FOX

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Since the rise of Covid-19, consumers are becoming increasingly motivated to prioritize their mental health, seeking long term happiness through education and self-care (Kelter, 2020). Snooze X Elyse Fox will therefore take this opportunity

67% 14-26yr olds believe that the pandemic will have long lasting effects on their mental health

(YoungmInd, 2020)

to engage consumers on topics surrounding mental-wellbeing with the aim to inspire and educate towards a healthier lifestyle.

The podcast will work alongside the Instagram account to contribute to an Integrated Marketing Communication (IMC) approach (Vrontis, 2014). The Content Marketing Matrix (CMM) (Appendix 5) outlines the integration of marketing in order to help Snooze achieve their goals and tailor content to the customer journey (Goworek & McGoldrick, 2015).

This form of marketing is commonly known as a pull strategy, whereby various media channels are used to generate interest about the brand and product, providing information to the specific consumer segment to discreetly encourage a purchase (Goworek & McGoldrick, 2015). The podcast will be an immersive experience, enforcing all four realms of the Experience Economy (Figure 7) therefore improving the overall customer awareness of the brand (Pine & Gilmore, 1999) .

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Figure 5: Snooze X Elyse Fox logo, (Authors own, 2021)

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F U T U R E

S T R A T E G Y

The primary objective of this future strategy is to raise awareness for the podcast and subsequently for Snooze after the launch and therefore increase market share in the long-term. Objectives should be driven by longer-term profitability in order to sustain Snooze’s competitive advantage, over short term opportunism especially in the competitive sleep market (Fifield, 1998). The intent of the podcast is to create a positive influence on both listeners and Snooze, with the support of other marketing content, together growing the business (Judge, 2021).

KEY

OBJECTIVE

MEASURE OF

PERFORMANCE

TIMELINE

SUCCESS

PRIMARY

1

2

INDICTORS

Increase Brand Awareness through the podcast

Increase awareness amongst target consumer by 50%

Within 6 month post launch

Improve long term customer relationships

Enhance consumers feeling on mentalwellbeing

By 2022

Increase Market Share

Increase market share by 5% in the16-25s market with a focus on students

By 2022

Number of social media interactions Mentions on social media Increase in site visits Increased customer loyalty Customers feeling educated Open rate % of total new sales acquired from the podcast (customer acquisitions) Earned media

Figure 6: Strategic Objectives

(Authors own, 2021)

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Lets

INSPIRE

and

EDUCATE

consumers to re-engage their MIND, BODY and SOUL, whilst leveraging awareness and market share Marketing Director at Snooze (Farquhar, 2021)

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Future Podcast Strategy

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“Podcasting creates a more PERSONAL and human relationship with a brand” being sought by the YOUNGER GENERATION WGSN - (Marian, 2021)

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JUSTIFICATION

4.1 WHY PODCASTS?

Podcasts on self-care and self-help have seen an increase of

Podcast consumption has doubled since the pandemic, with the steepest growth in listening from millennials with more free time, increasing by 26% (Statista, 2020)

122% (Mintel, 2020)

(Porter, 2020;Parisi, 2021). In particular podcasts focusing on mindfulness, mental health and wellbeing (Mintel, 2021). Consumers can regularly engage with audio content ‘passively whilst engaging in other activities’, therefore not interrupting consumers busy day-to-day lifestyles (Judge, 2020). The significant rise in listeners and the evidence towards podcasts becoming one of most effective mediums of marketing supports this future strategy (Judge, 2021).

Snooze will approach the podcast with the 4C’s of marketing; Clarity, Credibility, Consistency and Competitiveness (Appendix 6) (Jobber & Fahy, 2009). By satisfying all four Cs, with reference to Snooze’s strategic position, Snooze can achieve highly effective communication through the podcast to maximize its success.

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4.2 BENEFITS OF PODCAST STRATEGY - INCREASED TRAFFIC to both the Snooze website and Elyse Fox channels: leveraging the podcast through integrated communication including PR, email marketing and Instagram - COST EFFECTIVE STRATEGY (Appendix 7) reaching a wide audience, achieving long lasting customer relationships (Bearne, 2019) - achieve objectives at low cost (Andersson, 2020) - DRIVE SCALABLE CONTENT: Snooze can generate further marketing content with every episode e.g. blog of the transcript, Instagram posts of the highlights from the podcast and audiograms which all reinforces the brand in the mind of the consumer

CONSUMER PERSPECTIVE HIGHLY ENGAGING, enhances the brand experience therefore driving sales: 62% of listeners purchased the promoted product (Schek, 2018) CONVENIENCE /ACCESSIBILITY: listen at their pleasure without interrupting day-to-day business, whilst educating themselves on interesting topics

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@sadgirlsclub: A space for us to learn every facet of wellness, contribute our stories and missions and expand on an already fruitful

JUSTIFICATION The podcast will engage a captive audience

community (Elyse Fox @sadgirlsclub, 2020)

through informative and entertaining content, strengthening the brand (Papagiannis & Nicholas, 2020). The Snooze X Elyse Fox podcast will be the centerpiece of the marketing communications, with other form of promotion including Instagram, PR and email integrated to create a halo effect (Thirlwell, 2021). Instagram was rated the preferred method of communication by 81% of Snooze consumers therefore will be the main form of promotion for the podcast (Appendix 8).

Integrating both PR within the strategy will further increase exposure, creating engaging media and market receptivity (Vrontis, 2014). The adaptation of a pull strategy will drive demand for the podcast and subsequently for the Snooze bundles (Wilson & Richard, 2012).

By addressing topics of interest and featuring inspirational guests, the podcast

Although the strategy is focusing on engaging existing consumers through market penetration, podcasts serve as an accessible entry point for potential new customers to begin engaging with the brand. Capturing the attention (Appendix 9) and acquiring sales from the early majority/adopters (Appendix 4) should drive momentum from the introduction stage of the PLC, to the growth stage (Rogers, 1962).

Furthermore, the late majority/laggards may be positively influenced by these consumers to engage in the podcast and invest in the Snooze bundle, through W-O-M and UGC. The podcast has high potential to attract a large following, engaging followers of Elyse Fox, @sadgirlsclub and followers of guests on the podcast (Podcast, 2020).

will resonate with the young audience, enhancing the customer journey and community (Parisi, 2020; Marian, 2019).

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4.3 REALMS OF EXPERIENCE Podcasts provide an immersive sensory experience that satisfy both the entertainment, educational and the escapist realms of experience, therefore strengthening the Snooze competitive advantage (Figure 7) (Pine & Gilmore, 1999).

Through extending the marketing strategy from just Instagram to podcast and forms of PR, the customer participation in the brand is extended to ‘absorption’, occupying the customers attention through stimulating their imagination and a positive mindset (Pine & Gilmore, 1999). Snooze consumers will remain ‘passive participants’ however will get the chance to participate in giveaways, promotional events and shared media (UGC) on Instagram as a result of being subscribers.

ABSOPTION

ENTERTAINMENT

EDUCATIONAL

PASSIVE

ACTIVE

PARTICIPATION

PARTICIPATION

ESTHETIC

ESCAPIST

IMMERSION

Figure 7: Four Realms of Experience: The Experience Economy

(Pine & Gilmore, 1999)

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4.4 STRATEGIC EVALUATION SAF Analysis of proposed future marketing strategy : Adapted from Exploring Corporate Strategy, Johnson and Scholes, 2008 (Authors own, 2021)

SWOT analysis (Appendix 2) identifies opportunities e.g. growth in sleep market and the effect of the pandemic on consumers mental health SUITABILITY

(Youngminds, 2020) (Mintel, 2020) Podcast will reinforce the brand in the mind of consumers, increasing customer loyalty and the community, aiming to prevent consumers being drawn to substitute brands such as Slip and Kitsch (Parisi, 2020).

Increased brand perception due to the rise in digital marketing strategies, building upon the customers brand experience (PIne and GIlmore, 1999) (Chaffey, 2014). Growth in popularity for podcasts as a form of entertainment and relaxation since the pandemic (Statista, 2020) ACCEPTABILITY

Market penetration strategy (Figure 2) will enforce existing customers value and awareness for Snooze, strengthening the brands competitiveness in the market.

Stakeholder approval of future strategy as profitability will increase from engagement of the podcast and integration of PR marketing (Posner, 2015) .

People: Connections with industry experts including Elyse Fox, Adowa Aboha and mental health/wellness experts. Influencer connections to raise awareness for the podcast and brand (Porter, 2020).

Social media: IMC prior and post launch of podcast will drive success of podcast and build on the Snooze community. Synergy between IMC and

FEASIBILITY

PR (Section 4.2) for promotional strategy strengthens customer value of the brand and future sales and future sales (Appendix 8).

Top down approach will ensure decisions within the business are made quickly in regard to the podcast: keeping effective organizational structure (Wilson & Richard, 2012).

Appendix 6 evidences the low cost endured through a podcast, increasing the feasibility for a small business like Snooze

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"IT IS OKEY NOT TO BE '100%' IF YOU ARE FEELING LIKE YOU NEED TO SPEAK OUT, OR DEVELOP A SUPPORT SYSTEM, START BY REACHING OUT TO SOMEONE YOU TRUST." ELYSE FOX @SADGIRLSCLUB

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"Just think about it. You’re in your target audiences’ ears for around 30 minutes. One on one. No interruptions. No competition trying to steal their attention. That’s quite a powerful tool to have and a great opportunity to form a personal relationship with your audience" (Kazi, 2021)

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.

POCAST

COMING SOO STAY TUNED...

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5.1 OPERATIONAL PLAN Chaffey and Chadwick broke down the strategic implementation stage into planning, execution and control which can be used to implement the Snooze podcast in order (Hollensen, 2006) (Chaffey & Chadwick, 2009). Through the break down of the implementation plan, Snooze have the best chance of obtaining increased awareness and subsequently market share in the sleep market (Figure 6)

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PLANNING

With the first Snooze bundle launching in September 2021, the podcast will is planned to launch the following trading year (September 2022), to ensure the brand has gained a significant customer traction and community. With reports showing an increase mental health issues during the beginning of the

E

academic year (Brown, 2020), the launch will coincide with student starting university and school, offering support and advice on mental wellbeing and self-care (Appendix 8). This provides Snooze with the time to engage followers in the launch campaign whilst pre-recording content and brainstorming topics in preparation for the launch, as seen on the Gantt chart (Appendix 8).

A top down planning approach can be used to implement the podcast, with a particular focus on the promotion (Figure 11) and efficient strategic decision making throughout the business (Wilson & Richard, 2012). The promotion, both prior and post launch, plans to be dynamic using techniques including PR, giveaways and episode teasers alongside consistent Instagram marketing to encourage interaction and subscribers (Appendix 8). Through the application of Picton and Broderick (2005) 4C's of marketing, Snooze can ensure the podcast succeeds (Appendix 6). The podcast will plan to tackle topics that are often stigmatized, creating a safe space and voice for a diverse community (Fluker, 2018). Figure 9 outlines the episodes launching the podcast, demonstrating the area of discussion and guests, all contributing to their competitive advantage.

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Spotify has seen a

200%

B R I D G E

S T R A T E G Y

-

C O U R S E

O F

A C T I O N

5.2 EXECUTION

increase in podcast listening YoY since 2019 (Spotify, 2021)

Through effective execution, Snooze will close the Strategy-Execution gap, achieving the objectives outlined in Figure 6 (Olivier & Schwella, 2016). The execution of the launch will determine the podcast and Snooze’s future success.

A podcast will be released every Sunday, in time to allow listeners to relax during their self-care routine, keeping customers engaged with the brand on a weekly basis. The podcast will be launched on Spotify since over half (52%) of Gen Z and the majority of Snooze Instagram followers claimed this was their preferred podcast platform (Figure 8) (Meyers & Shevenock, 2020). Spotify are particularly aware of the positive force of audio to mental health and wellbeing and therefore most appropriate to this strategy and a valuable resource to Snooze (Niven, 2003) (Spotify, 2021). Spotify creates opportunities for podcasts, such as the introduction of their 'Daily Wellness' playlist, a mix of podcasts helping listeners find ‘positivity, mindfulness or peace’. This playlist will increase the podcast reach and providing Snooze with the build a prominante presence against other competing on Spotify (Mintel, 2021).

In order to drive sales for Snooze, an advert will be played at the beginning of every podcast, known as a pre-roll. The ad will market the satin. bundles, highlighting the benefits of satin to consumers sleep and mental health. Snooze will benefit by capturing the attention of consumers and not being subject to advertising fees since this is their own podcast. The pre-roll will be delivered by Elyse Fox herself, endorsing the product and leveraging the brand further.

Figure 8: Preferred platform voted by Snooze consumer via Instagram stories (@snoozeunderthestars, 2021)

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5.3 AS SEEN ON SPOTIFY....

Eye-catching podcast logo Real in consumer attention through an insightful Bio about

Snooze X Elyse Fox

Snooze X Elyse Fox

@sadgirlsclub

Podcast; outlining breakdown of content, the community and detail About Ep.1: Introducing Elyse Fox! Self-care tips and lifestyle tricks

on Snooze satin bundles

A podcast exploring mental health, sleep and wellness needs, with Elyse Fox. An open and honest community with no topics off limits, subscribe to never miss and episode or special guest..

Figure 9: Podcast as seen on Spotify: Accessible on any electrical device: laptop, ipad, iphone (Authors own, 2021)

Launch the podcast

Snooze X Elyse Fox All Episodes Ep.3: The power of sleep Lets unveil all the mistakes keeping you from optimizing your sleep and how satin is the answerto all your sleepness night...thanks to Snooze

Ep.2: Its OKEY not to be okey with Adowa Aboah, the powerhouse of self-love

with pre-recorded (2-3) About A podcast exploring mental health, sleep and wellness needs, with Elyse Fox. An open and honest community with no topics off limits, subscribe to never miss and episode or special guest. #SnoozeXElyseFox is a Spotify original, brought to you by Snooze, the satin sleep bundle - Lets re-establish the mind, body and soul together! See more...

We welcome Adowa Aboah to discuss how to tackle to stigma around having that down day admist a difficult time for us all! Listen, share and subsribe x

podcast to provide content to new subscribers introducing Elyse Fox (Lee, 2020). Blurb on each podcast topic and guest speaker

Ep.1: Introducing Elyse Fox! Self-care tips and lifestyle tricks Our first episode chatting through our favourite self-care tips you have to include into youre routine - the route to a healthier mind and life

Trailer Episode to win over potential new

The Trailer Episode

listeners, giving them flavour of the shaw

Figure 10: Snooze X Elyse Fox Podcast, breakdown of first 3 episodes - as seen on Spotify (Authors own, 2021)

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5.4 INSTAGRAM PROMOTION A SPOTIFY ORIGINAL

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LAUNCHING TOMORROW

ON SUNDAY'S WE SELF-CARE TUNE INTO EPISODE 1: SELF-CARE TIPS WITH ELYSE FOX

TUNE IN ON SPOTIFY - SNOOZE X ELYSE FOX

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I N F L U E N C E R

M A R K E T I N G

5.5 PUBLIC RELATIONS Kolter (1988) advised PR to be conceived within marketing to strengthen the communications performance (Kolter, 1988). PR will therefore be integrated into the marketing of the Snooze podcast, enhancing consumer awareness through media mentions and W-O-M marketing (indirect marketing) (Vrontis, 2014).

Influencers act as internal customers and public advocates for company values and practices (Kolter, 2016). After to the launch, Snooze will gift their satin bundles to various influencers in attempts to action subscription rate and future sales (Appendix 9). The influencers Snooze will aspire to represent the brand and podcast, representing similar values to the brand whilst encourage healthy wellbeing. This strategy will particularly influence consumer relying on reviews during the purchase decision, therefore leveraging the Snooze community (Forbes, 2017).

INFLUENCERS

@florencegiven 604k followers

@adowaaboha 1m followers

@esteelalonde 708k followers

@chessieking 809k followers

@gemmastyles 7m followers

@pandorasykes 329k followers

@zoesugg 9.2m followers

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M E A S U R E

O F

S U C C E S S

5.6 STRATEGIC CONTROL It is important within a marketing strategy to ‘monitor and evaluate’ its performance against objectives (Figure 6), to ensure success and further growth (Wilson & Richard, 2012) (Hollenson, 2006). Strategic control is the review of overall marketing effectives in relation to long term objectives, used to highlight inefficiencies in the podcast and overriding campaign (Kolter, 2016).

A six month review of the podcast will ensure Snooze can re-address and action aspects of the marketing strategy that are not meeting expectations (Kolter, 2016).

Methods of control to assess the podcast performance include KPI's (Figure 6) and: EFFICIENCY

CONTROL

Rate of subscriptions, downloads and Spotify chart position

AND

STAKEHOLDER

OZ O N

ATTITUDES

Engagement Rate Click Through Rate (CTR)

S

CUSTOMER

Customer feedback via surveys, social

ENGAGEMENT:

INSTAGRAM

INSIGHTS

Performance indicators include number of impressions, reach and follower statistics

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6.0 CONCLUSION The choice of Elyse Fox to collaborate with for the future strategy provides Snooze with the opportunity to create a safe space for consumers to educate and entertain themselves on wellness, a platform to share experience, whilst expanding their already fruitful community. Snooze have identified an opportunity to be a positive driving force for mental health in the sleep industry, an aspect of business no other competitors in the sleep market offers.

The podcast will have a tangible impact on business sales through the generation of awareness of Snooze, especially during the pre-roll advert, and due to the rise in popularity in Spotify podcasts since the pandemic (Porter, 2020) (Judge, 2021). With consumers investing in products benefitting their wellbeing and increasingly listening to podcasts as a source of education and entertainment, Snooze will be able to achieve their objectives (table __).

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7.0 REFLECTION Operational

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DESCRIPTION

FEELINGS

Figure 12: Gibbs Reflective Cycle (Gibbs, 1988)

ACTION PLAN

EVALUATION

CONCLUSION

ANALYSIS

There are a multitude of systematic frameworks used to reflect on previous experiences which include Gibbs Reflective Cycle (1988) and Kolbs Learning Cycle (1984) (Williams, 2012).

GIBBS REFLECTIVE CYCLE

‘emphasizes the importance

of the transfer of knowledge and insights gained from one situation to another’, allowing new situations to be tackled efficiently (Gibbs, 1988). I have chosen to use Gibb’s cycle to reflect on the issues faced as a marketing director, acknowledge the feeling I experienced and action change for new learning (Figure 12) (Williams, 2012).

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7.1 DESCRIPTION As part of my marketing director role I was responsible for creating the Snooze Instagram page, developing engaging content, building a following and aligning the page with the Snooze identity and mission (Figure 13). Social media would enable us to increase brand visibility and communicate a story to potential consumers. I aimed to instill both hedonic and functional utilities over Instagram to motivate individuals to follow the brand (Muk & Chung, 2014).

However due to the impact of Covid-19 on the business product, Snooze was just a concept rather than physical brand and product, therefore I found it hard to build a substantial following on Instagram. Initial interest of the brand was hindered when people realized we were not selling the product that we were building awareness for. I built a following of 25 followers, which was an accumulation of friends, members of the Snooze group and participants from our focus group. Many of the focus group felt disengaged from the brand since the physical product did not exist and saw no reason to follow the Instagram, only as a means to support Snooze as a university project.

Figure 13: @Snoozeunderthestar Instagram (Authors Own, 2021)

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7.2 FEELINGS I assigned myself the marketing director role since being the only marketing student in the group therefore I felt this was the most appropriate use of my knowledge and experience from both university and placement. I felt confident in my role, utilizing the skills I have developed during the Strategic Marketing modules and applying academic frameworks to market Snooze. Although I felt inspired by the brands concept and identity that I had created, I lacked motivation to build significant awareness and following since we did not produce the physical satin sleep bundle to sell. This lack of motivation to build a following however did not stop me from feeling determined to develop a coherent Instagram account for Snooze that clearly reflected our brand identity and mission (Keller, 2003). I believe I effectively identified the Snooze core audience and therefore was able to target the social media, aligning the colour palette and tone of voice to the particular market segment. I felt producing a tangible product would have inspired people with interest to engage further in the brand and would have therefore increased exposure and consumption of the brand (Doyle, 2020). I felt frustrated that we had missed out on this essential stage of bringing a business to life and knew the followers we gained during the 5 weeks were not invested or loyal (Keller, 2003).

Figure 14: @Snoozeunderthestar product (Authors Own, 2021)

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7.3 EVALUATION I believe I effectively executed the brand over Instagram, communicating the Snooze approach to mental health and the benefits of silk to the consumer (customer centric approach) (Kolter, 2016). The branding is consistent with a variation of infographics visuals to educate and engage followers. Effective branding is critical to the success of brands and towards building equity, fostering loyalty and enhancing profitability (Choi, 2014). My skills on Canva and photoshop significantly developed and therefore feel confident to carry these skills through to my future strategy and in industry. Furthermore i developed my data analytical skills using Instagram Insights to monitor the success and engagement of posts, seeing a high click through rate on this particular post due to its resonance with our target market.

Although I created a visually engaging profile for Snooze using the skills and creative flare I developed during placement, I still lacked motivation to drive due to the lack of product. If we were to eventually launch the product, we would therefore have to invest time and resources in order to attract consumers and convert into sales. The use of a physical product would have increased brand awareness by contributing to the consumers overall experience (Pine and Gilmore: 4 realms, 1999) (Huang, Sarigollu, 2011).

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7.4 ANALYSIS Pine and Gilmore (1999) emphasized the

Furthermore the consumer decision

importance of the ‘customer experience’

making process was cut short

through experiential marketing to directly

(Figure 14) to 'evaluation of

engage consumers an form a memorable

alternatives' rather than pursuing

experience (Pine and Gilmore, 1999) (Wertz,

'purchase' and 'post purchase

2019). They outlined four realms of

evaluation' (Cox, 1983) (Kolter, 2008).

experience; entertainment, education, esthetic and escapism that I have used to investigate the success of promotion on the consumer experience and the effect of not having a

NEED RECOGNITION

physical product on consumer engagement.

The lack of product due to unique repercussions of COVID limited the extent to which I could engage customers as a

INFORMATION SEARCH

Marketing Director throughout each realm of the Experience Economy (Figure 15) (Pine and Gilmore, 1999). Followers could not participate and connect with the product and therefore

EVALUATION OF ALTERNATIVES

had low involvement with the brand.

Followers are limited to ‘passive participation’ since they could not actively use the product,

PURCHASE

preventing full engagement with the brand and low influence on the experience (Kacprzak & Skorek, 2015). Snooze consumers will most likely have an 'absorption' connection, viewing the brand from afar through social media

POST PURCHASE EVALUAION

rather than experiencing the purchase process and physical product (Pine and Gilmore, 1999).

Figure 15: Buying Behaviour: Consumer Decision Making Process (Cox, 1983)

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The experience created for the customers characterizes the entertainment and

The Snooze X Manchester Mind partnership

esthetic realms, both important to developing an emotional connection and

involvement due to the rising concern for

source of differentiation (Kim, 2007) (Pine and Gilmore, 1999). Passive participants cannot directly influence the experiential offering, whereas if the consumers where to be actively engaged in a physical product they would personally affect the business activities of Snooze (Jeong, 2009). Active participation may have included User Generated Content (UGC) and Word-OfMouth (WOM) marketing, two highly effective methods of building brand awareness and an engage social following (Kim & Song, 2017). Experiential and esthetic realms were achieved through methods including interactive stories (questions/polls), luxurious imagery in-line with the brands identity and infographic’s (Figure 13).

since 48% of the Snooze audience are

post resulted in particular emotional mental health amongst students, particularly students (Focus Group, 2021) (Weale, 2020).

Although the experience surrounding a brand has recently become increasingly more important than the physical product, this is hugely limited without a physical product. Purchasing the sleep bundle would have reached both educational and escapism realms through greater customer immersion (Pine and Gilmore HBR, 1998). Pine and Gilmore suggest the richest form of experience is a ‘sweat spot’, when all four realms of the experience are achieved (Pine & Gilmore, 1999)

ABSOPTION

ENTERTAINMENT

EDUCATIONAL

PASSIVE

ACTIVE

PARTICIPATION

PARTICIPATION

ESTHETIC

ESCAPIST

Figure 16: Four Realms of Experience: Experience Economy (Pine and Gilmore, 1999)

IMMERSION

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7.5 CONCLUSION On reflection, I could have driven followers more through the socials accounts (e.g. Instagram and LinkedIn) of myself and other member of the group, reaching out to our followers who are within the Snooze target group. Being restricted to just 5 weeks, with few resources (no product) to support the marketing also limited the success of the following. I am however, pleased with the outcome of the Instagram profile and believe my skills in social media have improved since placement, enhancing my chance in future employability opportunities. As a marketing director, I felt I created a unique online experience over Instagram (@snoozeunderthestars), which along with additional marketing activities would aid our survival in the competitive sleep accessories marketplace.

7.6 ACTION PLAN As a result of COVID, the adoption of Integrated Marketing Communications (IMC) is critical to the success of a business as customer spending has moved increasingly online (Pandey, 2021). On reflection of this experience and with IMC in mind, I have taken this opportunity to expand Snooze’s digital channels through my future strategy in order to build brand awareness and success. I will continue to create engaging content, ensuring I consistently drive the Snooze values and approach to mental health through a wider range of channels e.g. podcast and PR. Through the future strategy of a podcast in collaboration with the mental health advocate Elyse Fox, Snooze followers can interact and immerse themselves deeper into the growing community. Partnered with the development of a product to bring the experience to life (escapism), I am certain Snooze will build a wider social following and acquire a loyal customer base.

PAGE 42

PAGE 43

Z

Z

SNOOZE in the stars

PAGE 44

Appendix 1

SNOOZE BRAND EQUITY MODEL (KELLER, 2002)

RESONANCE Loyal customers becoming part of the Snooze community

JUDGEMENT Luxury quality, unique, desirable benefits to skin, hair and sleep

PERFORMANCE - High quality, durable, stylish, affordable

FEELINGS Self-care, happiness, pleasure, relaxation

IMAGERY - Luxurious, personalized, elegant and feminine

SALIENCE - Recognized market leader for satin bundles (inc 2 pillowcase), appealing to young consumer looking for a cheaper but luxury alternative to silk

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Appendix 2 SWOT ANALYSIS FOR SNOOZE (AUTHORS OWN, 2021)

STRENGTHS

Consistent, coherent branding Clear communication of the brand and benefits of Satin over Instagram Engaging diverse content: including stories, promotional offers, interactive posts e.g. Q&A Product differentiation: duel pillowcase + complimentary travel pouch/star sign personalization Low price point in comparison to competitors at £34.99

OPPORTUNITIES

WEAKNESSES

Low following on Instagram, diminishing their brand awareness Lower quality in comparison to competitors due to combination of satin and silk Narrow marketing strategies; only Instagram, not enforced by any other platform or strategy Purchase via Instagram rather than website which may drive customers away

THREATS

·Invite advertising to stimulate further

·Threat of substitute products (Porter,

online traffic and sales (38% rise from 2019

1980) - Many competitors in the sleep

proven to generate growth) (Statista, 2021)

market with larger marketing forces +

·Invest in PR Marketing - PR responsible

capital to invest therefore may have

for building interest, influencing a target market and strengthening brand image (Kolter, 2003). ·Invest in sustainable activities ·Podcast in collaboration with Elyse Fox

more power over consumers. Snooze have low customer loyalty and have not yet become established in the market (Porter, 1980).

@SadGirlsclub (Appendix __ ghantt chart)

·Competitors selling products with a

·Sleep market is predicted to grow by 35.4%

higher quality but slightly higher price

by 2024 (Mintel, 2021)

·Low advertising/marketing expenditure

·Consumers increasingly motivated to

in comparison to competitors

priorities mental health and self-care: 16%

Narrow target market

sleeping less (Mintel, 2020) PAGE 45

Appendix 3

ENILCED

YTIRUTAM

HTWORG

SELAS

NOITCUDORTNI

PRODUCT LIFE CYCLE CURVE (GOWOREK & McGOLDRICK, 2015)

TIME

Appendix 4 ROGERS ADOPTION/ INNOVATION CURVE

Innovators

Early Early Adopters Majority

Late Majority

Laggards

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Appendix 5

N

LANOITOME

CONTENT MARKETING MATRIX FOR SNOOZE

N

I

IA E

IP

R

S

T E

E

N

R

T

Giveaway User Generated Content

Q&A

PR / endorsements

Events

Podcast

Reviews

Press Releases

D C

U

IV C

E

T

O

A

N

LANOITAR

N

IGTV

E

Product Features

C

E

Infographics

Discount AWARENESS

PURCHASE

(AUTHORS OWN, 2021) - ADAPTED VERSION OF SMART INSIGHTS MODEL (SMARTINSIGHTS, 2021) PAGE 47

Appendix 6

C C C C

4C's OF MARKETING FOR SNOOZE (JOBBER & FAHY, 2009) ONSITENCY Weekly podcast delivered to the consumer, with notification update through the subscription: Increasing the frequency that consumers engage with the brand and the chance to achieve loyal customer relationships (objective 1) and brand resonance (Judge, 2021) Cohesive branding (Instagram and podcast): drive brand recognition & identity

LARITY Coherent and clear message, discussing topics openly and honestly with experts in the industry Provide subscribers with clear solution to a problem they may be facing

REDIBILITY Credible collaboration with Elyse Fox and other well known guests, increase podcast credibility and authority against competitors in mind of consumers (Judge, 2021) Achieve credible PR after launch of podcast; testimonials and reviews craft a desirable message that resonates with subscribers (Vrontis, 2014)

OMPETITIVENESS Podcast creates a USP for Snooze against competitors in the market, attracting existing and hopefully new customers through increased engagement with the brand via the podcast The popularity and success of the podcast should drive word-of-mouth marketing and the generation of UGC, increasing competitive edge (Vrontis, 2014) PAGE 48

Appendix 6

COSTING SHEET FOR SNOOZE X ELYSE FOX PODCAST

EQUIPMENT: From microphones to

ELYSE FOX

HOSTING

SPOTIFY FEE

per week

per week

per week

recorders

COST PER

£ 50

£ 100

£0

£0

WEEK

TOTAL

£ 150

(ATHORS OWN, 2021)

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Appendix 8 GANTT CHART: SNOOZE X ELYSE FOX PODCAST COMMUNICATION PLAN 2022 Academic Year

TASK

JUNE

JULY

AUG

SEPT

OCT

NOV

DEC

JAN

FEB

MAR

PODCAST LAUNCH PRIOR TO LAUNCH

Create Instagram content Stories: Introducing guests/ LOGO GIF posts Build subscribers (email list) Record content (3 podcasts)

PRIOR

POST PRIOR

POST

Write podcast/seek guests TRAILOR EPISODE DURING LAUNCH

Episode 1: Introducing Elyse Fox Email marketing to customers / subscribers (MailChimp)

Teaser of podcast on Insta story POST LAUNCH

DURING

POST Every week

Podcast release (once a week) Weekly email to subscribers: introducing new episode/guest/topic

PR: gift Snooze bundle to influencer Post Instagram content

Encourage to subscribe, share and review

PROMOTION 15% Student discount on Snooze Mental health awareness events e.g. Uni/ Week/Month

Month

Uni day

Giveaway Snooze bundle via podcast

User Generated Content

Throughout the year

(ATHORS OWN, 2021)

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Appendix 9

A I

AIDA MODEL APPLIED TO PODCAST FUTURE STRATEGY (AUTHORS OWN, 2021)

wareness

driven through a range of integrated promotional methods including influencer marketing (PR and eye-catching content) (Appendix 7) – communicating the podcast launch and its focus on improving mental health and sleep to target audience. Attention driven through podcast bio (figure ___)

nterest

created through weekly teasers of podcasts via Instagram, introducing engaging narrative. Inviting guests well-known in the industry increases the credibility of the campaign and therefore consumers interest to interact. Interaction with promotional media (Instagram Insights) and subscription rates will reflect consumer interest to become part of the community.

D

esire created through sense of exclusivity through podcast subscription and the

opportunity to get involved in giveaways, promotional offers and competitions. Trigger an emotional desire amongst consumers relating to issues and topics being discussed and guests they feel inspired by. Hedonic benefits of the satin bundle discreetly portrayed throughout each episode drives desire for the product and value creation (Chandon, Wansink and Laurent, 1999).

A

ction: Call to action prior to launch e.g. “Stay tuned/Coming soon..." (Figure __) + PR

marketing aiming to increase subscription rate, drive awareness and drive purchase decision. Direct purchase through Instagram and podcast listeners, investing their time and loyalty to Snooze

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Appendix 10 @SNOOZEXELYSEFOX INSTAGRAM PROMOTIONAL POSTS

PAGE 52

Z

X

S

E

O Z NO Z

Subscribe to our podcast Snooze X Elyse Fox to receive your discount!!

X

EPISODE 3 FLORENCE GIVEN

EPISODE 5: FLORENCE GIVEN "PROTECT YOUR ENERGY AND MENTAL HEALTH"

OUT NOW

Z

ELY

X

X

S

E

O Z NO Z

SE FO

15% discount for all student

ELY

STUDENT DISCOUNT

SE FO

A SPOTIFY ORIGINAL

EPISODE 2 Z

ELY

X

X

S

E

O Z NO Z

SE FO

Adowa Aboha Z

Z

SNOOZE in the stars

Competition Time

TUNE INTO EPISODE 8 FOR A CHANCE TO WIN YOUR OWN SATIN SNOOZE BUNDLE

STAY STAY CONSISTENT CONSISTENT AND

TRUST YOUR YOUR TRUST VISION VISION ADWOAABOAH, ABOAH,episode episode2,2,2020 2020 ADWOA

Z

O Z NO Z

S

SE FO

SE FO

LAUNCHING TOMORROW

ELY

X

X

ELY

X

Z

E

X

S

E

O Z NO Z

ON SUNDAY'S WE SELF-CARE TUNE INTO EPISODE 1: SELF-CARE TIPS WITH ELYSE FOX

TUNE IN ON SPOTIFY - SNOOZE X ELYSE FOX

S

X

X

X

X SE FO

POCAST COMING SOON! STAY TUNED...

O Z NO Z

SE FO

ELYSE FOX @SADGIRLSCLUB

Z

X

X

ELY

X

X

ELY

SE FO

S

E

S

Z

E

Z

ELY

ELY

"IT IS OKEY NOT TO BE '100%' IF YOU ARE FEELING LIKE YOU NEED TO SPEAK OUT, OR DEVELOP A SUPPORT SYSTEM, START BY O N O Z OUT TO REACHING SOMEONE YOU TRUST."

Z

E

S

O Z NO Z

Z

E

O Z NO Z

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SE FO

X

S

O N

F O

PAGE 54

OZ

Z

Z

X

E EL Y PAGE 55

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