Online Business Models and Market Strategy
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Online Business Models and Market Strategy

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Presentation adapted from original by Pinny Gniwisch for McGill Online Marketing Course

Presentation adapted from original by Pinny Gniwisch for McGill Online Marketing Course

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  • Sun Tzu – The Art of War
  • 4 p's   Price Product Position Place (distribution) The new P People
  • Discuss: Porter’s forces and the Internet

Online Business Models and Market Strategy Online Business Models and Market Strategy Presentation Transcript

  • Text Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat.
  • A strategy is a long term plan of action in order to achieve a particular outcome.
  • A tactic is a specific method or action that contributes to achieving a goal. View slide
  • 8 Keys to a business model View slide
  • 1. Value Proposition “The brand promise”
  • Success
    • Find the info I need quickly and easily
    • Get breaking news as it happens
    • Find practically any item.
    • You can do it. We can help
    • Brand Personality
    • User Values
    • Emotional Rewards
    • Functional Benefits
    • Product Features
    Brand Pyramid
    • Smart. Innovative. Honest.
    • Efficient. Effective
    • I feel smarter. My curiosity is satisfied
    • I find stuff faster. It’s easy
    • Fast, accurate
    Brand Pyramid
    • Examples of Value propositions:
    • Better prices
    • Fast and attentive customer service
    • Superior quality
    • Easy to use / convenient
    • Huge selection
    • Customizable
    • Community
  • 2. Revenue Model
    • Types of Revenue Models
    • Ad Revenue: AOL
    • Subscription: Netflix
    • Mixed Ad/Subscription: New York Times
    • Sales- Retail: Amazon
    • Transaction Fee: E*Trade
    • Affiliate: Linkshare
  • 3. Market Opportunity
  •  
  •  
  •  
  • 4. Competitive Environment
  • What do they have in common?
    • When it comes to competitors
    • REMEMBER THE INFORMATION ECONOMY .
    • Who is competing with you on
    • CUSTOMER ATTENTION.
    • You might be surprised.
  •  
  •  
  • 5. Competitive Advantage 5. Competitive Advantage
    • Types of competitive advantage:
    • Cost leadership: Make it / sell it cheaper
    • Differentiation: Unique value that customers will pay a premium for.
    • Focus Strategy : Targeted, niche products or markets
  • FIRST MOVER ADVANTAGE?
  •  
  •  
  • 6. Marketing Tactics Media Search SEO/SEM Email Comparison Shopping Engines Viral / Content Marketing Social Media / WOM Affiliates
  • 7. Organizational Development
  • 8. Management team
  • Internet Business Models
  • Internet business models B2C B2B C2C/ C2B
  • P PEOPLE The 4 P’s of Marketing
  • Products
    • Products can be digital (e.g. software)
    • Technology aids with developing new products, whether digital or not
  • Price
    • Easier access to comparative websites allows consumers to find lowest price
    • Organisations need to differentiate themselves, but should not rely on price
  • Place(ment)
    • Digital products can be digitally distributed (e.g. download MP3)
    • Stores can be online (e.g. Amazon)
  • Promotion
    • The Internet provides a wealth of promotional tools
    • Advertising, personal sales, promotions, public relations and more can be conducted online
    • Importantly: customers as promoters
  • What about “new” Ps?
  • Idris Mootee’s 4 New P’s
  •  
  • 1. Personalization
    • Internet allows for Mass Customization
      • Marketing
      • Products
      • Experience
  • Converse allows customers to create their own shoes. Text 1. Personalization
  •  
  • 2. Participation
    • Social media and user generated content
    • Consumers collaborate with companies to create products
    • Rapid feedback loop
  • 2. Participation
  • Doritos Participation
    • Crash the SuperBowl - UGC Ads
    • Viralocity: Name The Flavour
    • SuggestionBox / Facebook Page
  • Ratings and Reviews
  • 3. Predictive modeling
  • Peer- to -Peer
    • Most trusted is “someone like me”
    • Social networks encourage interactions
    • Word of mouth can be more easily tracked
    • Equip engaged users with tools to share and promote
  • Developing a marketing plan
  • 1. Know yourself and your market
      • Who are we as a brand and offering ?
      • Who are our customers and what are their needs ?
      • What is the social context ?
  • 2. Strategic analysis
    • Thorough market analysis
      • Strengths
      • Weaknesses
      • Opportunities
      • Threats
  • Porter’s 5 Forces 1.Competitors : Those sites that offer the same product, service, or information as your site. 2.Potential new entrants : Your site-less off-line competitors as well as new companies entering the industry via a Website. 3.Customers : Visitors and potential visitors to your Website and your competitors’ sites. 4.Suppliers : Those companies that supply you with the products (or parts if you are a manufacturer) and/or services offered on your site. Other suppliers are the Web hosting, software, etc. 5.Substitutes : Other means and sources for the same products, services, or information as your Website provides.
  • 3. Set objectives
    • What are the desired outcomes ?
    • What are the specific goals ?
    • How will success be measured (KPIs)?
  • 4. Generate strategies and tactics
    • STRATEGY
    • What are you trying to do?
    • TACTICS
    • How, when and where are you going to do it?
  • 5. Evaluate tactical plan
    • Budget and Resources
    • Prioritize
    • Develop
  • 6. Implement Just do it
  • 7. Track, Analyze, Optimize
    • Capture KPIs:
    • Ad metrics (impressions, clicks, CTR, CPC, CPA)
    • Website experience (visits, PPV, bounce %, TOS, CR)
    • Sales metrics (Revenue, AOV, Margin %, $PV, A/S, ROA)
    • Lead generation metrics (Leads, Opt-ins, Followers, Fans)
  • 7. Track, Analyze, Optimize
    • Turn the data on its head:
    • Look for +/- anomalies
    • How does day / time impact results?
    • Which targets perform best?
    • What communication elements are working or not?
    • Which pages convert best?
    • What products generate the highest conversion rate
  • 7. Track, Analyze, Optimize
    • Tweak your efforts mid-stream
    • Scheduling / day-parting
    • Update creative
    • Change offers
    • Adjust media budgets and placements
  • ANATOMY OF A MARKETING CAMPAIGN REACH > ENGAGE > CONVERT > SHARE
    • EMAIL
    • FACEBOOK PAGE
    • GOOGLE ADWORDS
    • BANNER ADVERTISING
    • ORGANIC SEARCH
    LANDING PAGE SOCIAL MEDIA EMAIL OFFLINE W.O.M.