Social media marketing planPresentation Transcript
SMMUCLASOCIAL MEDIA MARKETING PLANFrancesco De ToniMichael UemuraSpring quarter, 2013
About CornettiCornetti is a brand created by Claudia Aragon in 2012to design and distribute high quality sandalsSandals made infine suedeHandmade in the Amalfi Coast(Italy)Designed in Los Angeles1 Line12 individual products“Cornetto”: typical goodluck charm fromsouthern ItalyEach model takes it namefrom a beach in the Amalficoast
Current integrated marketing strategyMission:• Become leading high-end sandal brandStrength points:• Contemporary Designs• High quality materials• Southern Italian lifestyleDuring the next one year, Cornetti seeks to achieve thefollowing financial and nonfinancial goals.Financial Goals• Obtain financing• Increase revenue by 1.8%Nonfinancial goals• Increase the brand exposure and generate brandrecognition among consumers• Introduce 2 new product lines• Expanding to accessory leather goods(clutches, wallets, small handbags)• Maintain strong relationships with current retailers• Increase distribution; expand presence in retails storesfrom 12 to 160• Expand to new, domestic, geographic locations• Develop a successful Internet siteMarketing MixProduct: fine suede high quality sandalsPrice: from $110 to $250Place: present distribution channels– Online store (www.icornetti.com), selling inall United States– High-end boutiques . At the momentCornetti sandals are sold in 12 retail stores inSouthern California (Los Angelesarea), Central California and NorthernCaliforniaPromotion: promotion still have to beimplemented; current promotion strategyincludes many elements to be implementedduring the next 6 months in order to increasethe brand exposure:– Advertising (fashion magazines, industrymagazines, newspapers, onlineadvertising, direct mail and email, catalogs)– PR– Presentation to retailers in trade shows– Sales Promotion (coupons, POP)
Why implementing a social media marketing strategy?Situation Analysis• Right now the priority is to increase the brand visibility.• In particular, the visibility of the brand online is very low.• The term “Cornetti sandals” is searched less then 10 times per month on Google in U.S.(Source: Google AdWords Keyword Tool: https://adwords.google.com/o/KeywordTool)• Cornetti presence on social media: Facebook profile (195 followers; low engagement); Instgram profile (215 followers; 14 hastags)Objectives of Cornetti’s social media marketing plan– Increase the visibility of the brand and final consumers’ awareness– Engage with customers and consumers in order to increase their belongingness and loyalty to the brand– Listen to costumers’ needs and feedback in order to improve the quality of the experience related to the productand get directions for the development of new product lines– Increase salesHow social media will complement the current integrated marketing strategy– The social media marketing strategy will be part of the recently planned marketing strategy and will beimplemented over the next 6 months– The social media strategy will interact and will be integrated with the overall promotion strategy in order toincrease the brand visibility and the customers’ engagement– The social media strategy will interact and will be integrated with the online website in order to increase onlinesales– Feedback provided on social media by customers will be used to improve the products and the related services
Target market – Demographics•Income: more than $70,000 per yearAmerican consumer units’ average expenditure in footwear is $327per year. Consumer units with a $50,000 to 69,999 income, spendon average $332 per year in footwear. Consumer units with anincome of $70,000 or more spend on average $484 per year infootwear. Since we want Cornetti sandals to be a luxuryproduct, we are targeting to those households that spend the mostin footwear. Source: Consumer Expenditure Survey by U.S.Bureau of Labor Statistics (http://www.bls.gov/cex/).•Sex: women•Age: 20-45The product is designed mostly for a young market.Moreover, consumer units in which the reference person’s age is25-34 or 35-44 are two of the three consumer groups that spendthe most in footwear (people aged 25-35 spend $372 per year;people aged 35-44 spend $400 per year). Source: ConsumerExpenditure Survey by U.S. Bureau of Labor Statistics(http://www.bls.gov/cex/).•Family size: 1-4 people•Oldest child age: more likely 6-17; less likelyunder 6 (families with children under 6 the havea lower expenditure in footwear and womenapparel they are more concentrated on kids’needs)•Education: college graduates•Occupation: managers and professionalsSource: American FactFinder of U.S. Census Bureau(http://factfinder2.census.gov)Socioeconomics•Higher spending on footwear•Care much about their physical appearance•Are interested in fashion•Highest awareness about design and aesthetic value•Look for higher quality product and think that higher qualityimplies higher price•Perceive “made in Italy” fashion products as high qualityproducts-----------------------------------------------------•Early adopters (they are leaders in fashion tendencies in theirreference groups)•Achiever•Extrovert (they spread the word about products they like)Personality•Needs to satisfy: emotional (self-esteem and status)•Benefits sought: elegant and innovative design; made in Italy;artisan product; luxury product; make the consumer feelattractive; make the consumer feel superior•Brand familiarity: brand non recognition. One of the objectivesis to make the consumer srecognize the brand•Type of problem solving: extensive (highinvolvement, infrequently purchase item, expensive, highrisk, much information desired)Buying behavior
Target market – DemographicsGeographic location of potential customersCountry: United StatesOn the basis of the characteristics of selected Nielsen segments, we have been able to identify the geographic location of potentialcustomers within United States– Region: mostly Northest and West. The majority of potential customers live in following states: California, Virginia, New York, NewJersey, Florida, Texas, Maryland, Colorado– Urabnicity: mostly urban , suburban and second cityNielsen’s MyBestSegmentsThe characteristics we have selected about Socioeconomics of our potential customers allows us to identify which of the segmentsidentified by Nielsen’s MyBestSegments online service constitute our target market. Theses segments provide us with importantinformation about the geographic location of our target market and about its size. They also provide us with useful extra informationabout the Personality and the Buying behavior of our target market. We have identified 7 Nielsen segments, which are listed below.Chracteristics of selected segments– Movers & shakers: rank near the top for owning a small business and having a home office– Young Digerati: filled with trendy apartments and condos, fitness clubs and clothing boutiques, casual restaurants and bars– Country Squires: enjoy country club sports like golf, tennis, and swimming as well as skiing, boating, and biking– Winner’s Circle: big spenders who like to travel, ski, go out to eat, shop at clothing boutiques, and take in a show– Executives Suites: comfortable homes and apartments; downtown jobs, restaurants, and entertainment– Brite Lites, Li’l City: swank homes filled with the latest technology– Bohemian Mix: funky row houses and apartments; early adopters who are quick to check out the latestmovie, nightclub, laptop, and microbrew
Target market – Technographics– 71% of women use social media– 66% of the people with an HH income of $75,000 or more are socialmedia users. This percentage is quite similar for all the HH incomeranges– 83% of the people aged 18-29 use social media; 77% of the peopleaged 30-49 use social media (the percentage of social media users inthis age range is increasing)– 65% of the people with a college degree use social media. Thispercentage is quite similar also for people with just a high schooldegree or some college– 70% of urban population and 67% of suburban population use socialmedia. The percentage is lower in rural population (61%)From these data we can estimate that aboutthe 75% percent of our potential customersare social media users– Both Facebook and Instagram are popular among young (18-29)women. Pinterest is popular among women in general. Twitter ispopular among young people (18-29), but not specifically women.Therefore, Facebook, Instagram, Pinterest and Twitter must havea central role in our social media marketing strategy. Twitter isimportant, too.Source: Mashable.com (http://mashable.com/2013/04/12/social-media-demographic-breakdown/)
Target market – Technographics48 473586 8533143247478102231175770180255075100Creators Critics Collectors Joiners Spectators InactivesSocial media usage habits of women in United States18-2425-3435-44Source: Forrester’s Social Technographics Profile analytics tool (http://empowered.forrester.com/tool_consumer.html)Exposure and engagementAnalyzing the data about the social media usage habits among women in United States, we observe that themost active creators and critics of social media content aged 18-24, while elder people tend to be just joinersand spectators (25-34) or spectators only (35-44). Therefore, we expect that our social media plan willincrease the brand exposure among all its potential customers who also are social media users. On the otherhand, engagement strategy is expected to be more effective among the younger subsegment (age 20-34).
Target market – Market SizeTo estimate the total target market size, the data obtained from Nielsen segments have been used. Than thesocial media target market has been estimated as the 75% of Cornetti’s total target market.The percentage of single man with family in U.S is the 4.7% of households. The percentage of non-family households in U.S is33.8% of households. Furthermore, in U.S. there are more married man (50% of total amount of men) than married women (45% oftotal amount women). Moreover, women are 5% more than men in U.S. Thus, we can estimate that the 40% of the American non-family household are men. Therefore, we can estimate that the single men without family constitute the 13% of households. From thedata collected above we can estimate that the percentage of single men with or without family in U.S. constitute the 17% ofhouseholds.Source: American FactFinder of U.S. Census Bureau (http://factfinder2.census.gov)The total amount of all households in considered Nielsen’s segments is 11,525,025. Assuming that the distribution of single men ishomogenous within American population, if we subtract 17% to 11,525,025, we have 9,565,771 units. Considering that some singlemen could buy/pay the sandals as a gift for fiancées, daughters, etc., we can estimate the market size between 9,500,000 and11,500,000 units.Total Cornetti’s target market size: between 9,500,000 and 11,500,000 people75%Target market size on social media platforms: between7,125,000 and 8,625,000 people
Target market – CompetitorsThree of Cornetti’s major competitors are the following leading brands: K.Jacques, Ancient Greek Sandals, andAmedeo Canfora. Like Cornetti, these brands sell high-quality and high-priced leather sandals made in Europe.Competitor Facebook Instagram Pinterest Twitter Blog YouTubeK.JacquesOn average prices are 20%higher compared toCornetti’s; calfskin leather(no suede used); factorymade sandals; simplisticdesign withoutembellishments; online store2,354 FollowersAlmost all the picturesand the posts are aboutthe products or aboutthe production processor about celebritieswearing the products;on average 30-40 likesper post; few commentsNo InstagramprofileAbout 800hashtags(mostly#kjacques)No PinterestprofileMany pins ofK.Jacques’sandals;pictures havebetween 1 and120 repinsNo TwitterprofileThe hashatag#kjacques hasbeen used 0-5times per dayin the last 21daysNoblogNo YouTubechannel6 videos aboutthe brandAncient Greek SandalsOn average prices are 20%higher compared toCornetti’s; calfskin leather(no suede used); handmadesandals; both simplisticand elaborate design withsome embellishments;online store9,863 FollowersAlmost all the picturesand the posts are aboutthe products ; onaverage 40-50 likes perpost; few comments1082 FollowersAbout 420hashtags(mostly#ancientgreekssandals)No PinterestprofileFew Pins238 Followers295 TweetsThe hashatag#ancientgreeksandals hasbeen used 0-3times per dayin the last 21daysNoblogNo YouTubechannelAbout 20videos aboutthe brandAmedeo CanforaOn average prices are 20%higher compared toCornetti’s; calfskin leather(no suede used); handmadesandals; both simplisticdesign with jewellerydecoration and otherembellishments; online store6,356 FollowersAlmost all the picturesand the posts are aboutthe brand, its historyand its products ; onaverage 30-40 likes perpost; few commentsNo Instagramprofile1 hashtag(#amedeocanfora)No PinterestprofileAbout 30 pins238 Followers432 TweetsVery fewhashtags overthe past yearNoblogThe brand hasproduced apromotionalvideo that is onYouTube. (143views).However, thebrand doesn’thave a channel
Target market – Brand Positioning and Market TrendsAmedeoCanforaAncient GreekSandalsK.JacquesCornettiMore embellishmentsFewer embellishmentsElaborate designSimplistic designPositioningCornetti is competing with all theaforementioned brands. The closestcompetitors is K.Jacques. Whatdifferentiate Cornetti from competition is thefact that the majority of Cornetti’s sandalsare made with suede.Competitors’ presence on social media isnot very strong. However, compared tothem, Cornetti’s presence on social mediais still very weak.Market trendsDespite the financial crisis of the last few years, the sales of luxury apparel andaccessories are expected to grow 4-5% in 2013. Demand will be sustainedmainly by young people who have high incomes but are not yet wealthy. Thoughthey spend less than those with established fortunes, they are ten times morenumerous. Europe still remains the single biggest luxury market, but the industryhas experienced shrinkage in recent years due to recession and a shift inpurchasing patterns. The United States market the second largest one in theworld and is expected to grow .Source: http://www.usatoday.com/story/money/business/2013/05/16/global-luxury-goods/2166269/
Social media strategic overviewThe social media strategy aims to reach the objectives stated in slide #4. For each objective a strategy has been defined.1) Increase the recognition and visibility of the brand. Maximize the brand exposure by improving its current profiles on socialmedia platforms and setting up new ones on other selected platforms. Increase the visibility of the product on business reviewwebsites and fashion blogs. Make accessible online all the information about the brand and its products (contacts, brandhistory, information about the quality and the manufacturing process of the sandals).2) Foster the engagement and the belongingness of the customers with brand. Engage the customers and potentialcustomers by posting relevant and original content on a regular basis. Create a social media community where customersbecome fans of the brand. Inside the community the fans are supposed to:– Share the brand content– Share their own self-produced content– Give feedback to the brand about their experience with the product3) Listen to costumers’ needs and feedback. Listen carefully to what consumers say about the brand on social platforms. Neverignore customers’ feedback and always reply to questions.4) Increase the sales. Each of the social media profiles of the brand must be directly connected to the brand website. Alwaysshow a clear call to action that direct the potential customers to the brand website.What kind of contentThe brand must avoid posting just self-promotional content. Instead, it must also post content which is relevant to its customers andadd some value to the conversation with them. Our content strategy will focus on two aspects:– creating a story and a set of positive experiences around the product– giving useful advice about shoe fashion, aiming at becoming a thought leader in this fieldThe story will deal with the Italian manufacturing of the product and its connection with Italy and Italian aesthetic values. Theexperiences will include fashion events involving our sandals; Italy and Italian lifestyle; sharing of customers’ own experiences withour products (photos, posts).Advice will be given and discussion will be fostered about women fashion, women shoes and fashion trends.The ratio between fashion content and promotional content must be at least 3:1.The hashtag. The hashtag #cornettisandals will be always included in each element posted (posts, picture, tweet, video) on anysocial media profile. In this way Cornetti’s content on social media platforms will be always “branded” and easily traceable.
Tactics – FacebookAt the moment Cornetti’s Facebook page is just focused on presenting pictures of theproducts. The pictures have few likes, the comments are few, and the page has 195followers. Our aim is to diversify the content in order to raise the number of followersfrom 195 to 5000 over the next 6 months and to increase the engagement(comments, likes, and sharing).– Daily posts will be published about women fashion and shoe fashion news (bothoriginal content and shared link)– Discussion will be fostered by posting a question once a week. The questions will beabout fashion or (less often) about Cornetti sandals (“Do you like sandals with manyembellishments?”, “Do you prefer suede sandals rather than calfskin ones?”)– Links will be shared about the customers’ experience with the brand(pictures, stories) and their opinions about fashion. A Facebook album called “Havea Cornetti day” will be created to collect the most beautiful pictures shot by thecustomers showing their positive experience with our sandals.– Promotional posts and pictures will be published about Cornetti’s sandals. TheYouTube video showing the handmade production process and the story of Cornettisandals will be embedded in Cornetti’s Facebook page. Since each model of Cornetti’ssandals got its name from a beach in Amalfi coast, an album (called “La dolce vita”)will be created to show beautiful pictures of Amalfi coasts and its beaches. An album(called “Cornetti outfit”) will be created to collect pictures and videos fromInstagram, Pinterest and Vine showing Cornetti sandals with matching clothes.– Facebook will be the central platform of our social media strategy. All the contentpublished by the brand on other platforms will also be cross-posted on Cornetti’sFacebook page.
Facebook Ads campaignFinancial allocation: $300 per monthSystem adopted: we have chosen to use a CPM system rather thana CPC one, since our primary objective is to increase exposureWe have chosen 3 segments. $100 will be invested each month foradvertising to each segment.1) Women, aged 20-45, living in United States, who like “shoes”2) Women, aged 20-45, living in United States, who like “fashion”3) Women, aged 20-45, living in United States, who like “luxury”For each segment, the advertising campaign has the followingcharacteristics:Budget: $100 per monthPay per thousands impression: $1.85Maximum amount of impressions: 54,000 per monthTactics – Facebook
Tactics – InstagramCornetti already has an Instagram profile. It has 215 followers and 26 photos. All the photos are about the brandproducts. On average each photo has 12 likes. Engagement in comments is very low. There are 14#cornettisandals hastags. Our objective is to raise the number of followers from 215 to 4000 and to increasethe engagement (on average 80 likes per picture; 800 hashtags) over the next 6 months.Instagram is expected to be the most important platformwhere our customers can share they experiences withCornetti sandals. We will repost the best photos posted byour customers’ with the #cornettisandals hashtag. Best photoswill also be collected in the “Have a Cornetti day” album of ourCornetti’s Facebook page and Pinterest profile.Promotion on Instagram will also include the following points.– Post pictures of Cornetti sandals– Post pictures of Cornetti sandals with matched clothes inorder to provide our customers with interesting ideas aboutwhat they can wear.– Post pictures of fashion and promotional eventsStatigram will be used to manage and monitor our content onInstagram.
Tactics – PinterestA Pinterest business account will be created for Cornetti sandals. Our objective is to gain 4000 followers overthe next 6 months.4 boards will be created.1) “Cornetti sandals”: in this board we will pin promotionalpictures of our sandals.2) “Cornetti outfit”: in this board we will post pictures of Cornettisandals with matched clothes in order to provide our customerswith interesting ideas about what they can wear3) “La dolce vita”: in this board we will pin and repin beautifulpictures of the Amalfi coast. There will be at least one picture foreach of those beaches from which Cornetti’s models take theirnames.4) “Beautiful apparel”: in this board we will repin pictures ofwomen apparel we like (shoes are obviously exluded). Especiallywe will repin the pictures about women apparel pinned orrepinned by our customers in order to foster the conversation withthem.Each pin about our sandals will direct to Cornetti’s online storethrough the Pinterest “website” buttonIn the future new boards will be created to pin new sandal andaccessories collections.
Tactics – TwitterA Twitter account will be created for Cornetti sandals. Our objective is to gain 2000 followers over the next 6months.Brand promotion– Tweet about content published by the brand on other socialmedia platforms (Facebook, Instagram, Pinterest, WordPress, Vine).Bitly short links will be used to direct to the content.– Give real-time updates about the brand activities, like promotionalevents or attendance to fashion eventsBuild thought leadership in fashion– Tweet or retweet interesting news about fashionIncrease the engagement– Listen to customers’ and potential customer’s interests, needsand feedback. Foster the conversation with consumers on Twitter byposting questions– Contact celebrities and start conversation with them in order toget their endorsement for Cornetti sandals.Hootsuite will beimplemented tobetter themanagement oftweets (editorialcalendar) andretweets.
Tactics – WordPressA WordPress account will be created for Cornetti sandals. Our objective is to get 40-50 views per day by thenext 6 months.Why choosing WordPress as blogging platformSince Cornetti is a fashion brand, it is fundamental to choose the blogging platform that offers the best tools to improve the designand the look of the blog. WordPress has been chosen over competitors (Blogger, Tumblr) because it has a distinguishedreputation for advanced technology and top-notch design. Compared to competitors, WordPress offers a wider range of themesand graphics styles. It also offers a better choice of widgets and plugins to enhance the look, feel, and functionality of the blog.Moreover, WordPress allows you to self-host your blog (Blogger doesn’t).Source: http://www.verticalresponse.com/blog/blog-wars-wordpress-blogger-tumblr-which-platform-rules/2-3 posts per week will be published– Give useful advice about how to match shoes with clothes– Post interesting news and interviews about fashion– Post opinions about most up-to-date fashion trends– Post news about the brand (events, new lines, etc.)– Create a page dealing with the story of the brand, the Amalfi coastand the a handmade production processAlmost each posts will include a question to the audience, in order to foster conversation and engagement.We will contact influential fashion bloggers in targeted geographic area (at the moment mainly California)and try to have Cornetti’s blog feature them. Our objective is to get the influencers’ endorsement, attract theiraudience to our blog and increase the brand visibility.
Tactics – YouTubeA YouTube account will be created for Cornetti sandals.YouTube will be used for 2 purposes.1) Promotion. A general promotional video will be shotand uploaded on Cornetti YouTube profile. The video willshow the story of the brand, the location of production(Amalfi coast) and the production process. The video willbe also embedded in Cornetti’s Facebook profile and inthe WordPress blog. Also some videos about Cornettipromotional events could be uploaded and then cross-posted on Facebook, Twitter and Wordpress.2) Vlogging (optional/opportunity). YouTube could beused as a vlogging platfrom, Some how-to videos couldbe shot about fashion. Topic would include how to matchshoes with clothes and accessories, how to recognize thequality of shoes, etc. The videos would then be cross-posted on Facebook, Twitter and Wordpress. However, atthe moment Cornetti’s social media plan can beimplemented by just one person (the owner of the brand).Thus, it is not sure if she will had enough time to managethe vlog. Nonetheless, the vlog is a very interestingopportunity and an advisable choice.Our objective is to get 5.000 views for the general promotional video 6 months after its uploading. Foreach other promotional video and how-to video our objective is to get 1.000 views 2 months after theyhave been uploaded
Tactics – Vine and Google+VineA vine profile will be created for Cornetti sandals. Vine will be usedfor 2 purposes. Our objective is to get 500 followers over the next6 months.– The brand will shoot short videos showing out to createfashionable outfits matching Cornetti sandals with other clothes andaccessories.– Customers will be enocuraged (on Facebook, WordPress andTwitter) to shoot short videos about themselves wearing Cornettisandals and to share them on Vine and/or Twitter.Google+A Google+ profile will be created for Cornetti sandals.We are not interested in strengthen the brand presence on Goolge+.Our objective is to have a brand page on Google+ where all theinformation about the brand and its activities are shown.Moreover, in order to maximize the reach of the content produced bythe brand, all the relevant content published by the brand on othersocial platforms will be also cross-posted on Cornetti’s Google+page.
Engagement strategyOur engagement strategy consists in maximizing the efforts to create a social mediacommunity of fans who love the brand and to eventually turn the brand into a lovemark.Core points of the strategy– Create a personal relationship with the customers on social media platforms. The brand will alwayslisten to its customers’ needs and complaints, trying to provide them with the best answers and solutionsavailable. The brand will also engage with the customers in a conversation about fashion and shoes. Thebrand will always post content that is relevant to its audience and that has some added value. The brandwill also pick what is valuable among its customers’ content and share it on its profiles. Moreover, thebrand will foster discussion and customers’ participation by posting questions on its Facebook, Twitter andWordPress profiles.– Create belongingness and loyalty to the brand. Our objective is to make the customers talk about theproduct, show our products, and share their experience about our products. Visual engagement isextremely important, since our products is a fashion products.Engagement objective: our customers autonomouslyshare content about the brand among each other or sharecontent on brand profiles. This means that our objective willbe reached when the customers will talk about the brand orpost content on the brand profiles even if the brand is notactually posting any content or fostering the conversation. Inthis situation, the customers will also autonomously defendthe brand from detractors.
Negative feedback and plan managerPlan for handling negative feedback and/or crisisPossible negative feedback is expected to be reported mainly on Facebook and Twitter.Except for trolls’ comments, negative posts or tweets will never be deleted. Instead, thebrand will always respond to negative feedback and provide its dissatisfied customers withthe best service in order to fix their negative experience with the brand. The objective is tosatisfy the needs of disappointed customers, so that they will hopefully post a new tweet or anew comment praising the brand for its customer service.Plan manager (responsible for implementing, maintaining and monitoring the plan)Due to the low financial resources of Cornetti, the owner of the brand (Claudia Aragon) willbe the only person responsible for implementing, maintaining and monitoring the plan.
Analytics and metric toolsWe will measure Exposure, Engagement and Influence. Since we had to develop a low-budgetstrategy, only free measuring tool have been chosen.ExposureGeneral exposure will be measured with Topsy, Google Social Analytics, and Social Mention. Broadsearches will be made for the term “Cornetti sandals” and the hashtag #corernettisandals.At the moment the social media exposure of Cornetti is very low: 2 mentions on Topsy and no relevantmention on Google Social Analytics and Social Mention.– Facebook: Facebook Insight will be used to monitor Cornetti’s page exposure. In particular, we will check the expectedincrease in the number of followers. Moreover, Google Analytics will be used to check the brand exposure through FacebookAds (this is actually possible; Source: http://www.lizlockard.com/track-facebook-ads-with-google-analytics/).– Instagram: Statigram will be used to check the growth of the number of followers and likes– Pinterest: Pinterest Web Analytics will be used to check the growth of the number of followers, impressions and clicks– WordPress: WordPress Stats will be used to check the views of posts– Twitter: Hootsuite Twitter Profile Overview will be used to check the growth of the number of followers– YouTube: the number of likes and views of posted videos and the number of subscribers to Cornetti’s channel will bemonitored– Vine: the number of followers will be monitored– Google+: the number of people in Cornettis’ page circle will be monitored
Analytics and metric toolsEngagementSocial Mention will be used to monitor the strength, the passion and the sentiment of the term “Cornettisandals” and the hashtag #cornettisandals.Bitly: for each element posted (post, picture, video, tweet) a bitly link will be created and cross-posted on all socialmedia profiles. Bitly statistics will be used to check the sharing of the links (referrers and location included).– The number of likes and comments on Cornetti’s Facebook page will be monitored. Facebook Insight will be also connectedto Cornetti’s website in order to get information about interaction and sharing of website links with Facebook– Statigram will be used to check love rate, talk rate and spread rate of Cornetti’s photos on Instagram– Pinterest Web Analytics will be use to check the growth in the number of pins and repins– WordPress Stats will be used to check the number of subscriptions and comments in Cornetti’s blog– Twitter: the statistics of #cornettisandals will be monitored. Hootsuite Twitter Profile Overview will be used to check mostpopular linksInfluenceKlout will be used to monitor the influence of Cornetti on social media.
Success metrics, ROI and breakeven pointSuccess metricsSuccess consists reaching all the objectives set for each social media platforms (number of followers or number of views).However, 7 parameters will particularly be held in high regard in order to evaluate the achievement of success.1) Number of Facebook followers: reach 5000 followers in the next 6 months2) Number of Instagram followers: reach 4000 followers in the next 6 months3) Number of Pinterest followers: reach 4000 followers in the next 6 months4) Number of Twitter followers: reach 2000 followers in the next 6 months5) Klout score: at the moment Cornetti Klout score is 25; success consists in reaching a score of 70-75 over the next 6 months.6) Google Adwords Keyoword Tool: “Women sandals” searches on Google in U.S. are 246,000 per month; success consists inincreasing the number of monthly searches of “Cornetti sandals” from 10 to 800 searches in the next 6 months7) Website: success consists in a 200% growth of present traffic to Cornetti’s online store in 6 monthsROI and breakeven pointROI has been calculated on the basis of Facebook Ads impressions, since Facebook Ads constitute the highest cost of this social mediamarketing campaign and also allows to estimate the minimum number of impression that the campaign can generate. For the purpose ofprojecting ROI and Breakeven points, we assume a response rate 2% of impressions and a sales conversion rate of 2%. To calculate ROI andbreakeven we also decided to simply take average of both wholesale (sandals sold in shops) and retail (sandals sold on Cornetti’s website) priceand profit margins. The profit margin for our product is 49.3% per sale, with average price of $127.71 per each unit. The ROI on the social medialmarketing campaign will be measured against the investment into Facebook Ads, production of video contents, and monthly efforts on socialmedia engagements.Facebook Ads: we plan to purchase total of 162,000 impressions each month, with total cost of $300. This equates to total of $1,800 for 6monthsProduction of video contents: we budgeted $500 for initial investmentMonthly engagement efforts: wur valuation of owners efforts on social media engagement is $500 a month. This equates to $3,000 for 6months.Total initial investment for our campaign: $5,300, excluding inflation adjustment.We expect to obtain 972,000 impressions over the period of 6 months through Facebook Ads. Of these impressions, we expect toattain 388 sales transactions (2%), totaling $73,872 in revenue, or $24,139 in profit. This equates to total ROI of 455%(=24139/5300) for our campaign.Our breakeven point for this campaign is sales of 42 units. This equates to total impressions of 104,566 through FacebookAds, which is well below the 972,000 impressions purchased for 6 months period.