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Sample Digital Strategy

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  • 1. ABC CA $ H i ntegrated Digital Marketing Plan Prepared by: Joey Barker August 17, 2011
  • 2. OVERVIEW: Facts & Findings
      • U.S. Payday Loan Market
        • Perpetually declining store count, loan volume, and revenue – since 2009
        • Internet payday loans now an estimated 10% of overall market – and climbing
        • Stephens Annual Payday Loan Industry Report
          • “… internet will eventually cannibalize store borrowers.”
      • ABC Cash
        • Web-centric service provider
        • Strong sales growth in 2010
      • Customers (versus competition) :
        • Less likely to be married, but more children on average
        • Fewer financial alternatives / resources, very little (if any) brand loyalty
        • 50% of Loans = “New Addition to the Family”
  • 3. OBJECTIVES
      • Capture a larger share of the organically growing online market than currently owned by ABC Cash
      • Penetrate the larger offline market and drive those consumers to ABC Cash online product
  • 4. AUDIENCE
      • “ ALICE” Market Segment
        • ( A sset L imited, I ncome C onstrained, yet E mployed)
        • Over 65% ages 25 – 64 (Majority = Increasingly web-savvy, e-Commerce users)
      • Primary Loan Focus
        • Housing, Child Care, Transportation, Health Care
  • 5. COMPETITION: Key Players
      • Brick & Mortar
      • Online Competitors
  • 6. Competitive Summary
      • VERY transactional-based
        • Messaging, identity, voice, design, transactional offers with no incentives or conversation
      • Competitor Strengths
        • The Big “Brick-houses”
          • Brand recognition, store convenience, robust offerings, geographic penetration
        • The E-Loaners
          • Ease of use, convenience appeal
      • Traditional  Online Extension
        • Advance America , Check into Cash and others adding online loans (Walmart strategy)
        • Same competitors now also digging deep into Social Media
      • Opportunities
        • Behavioral commerce & relationship-building, loyalty incentives, educational content, first-hand community involvement, bundling of common service needs
        • No competitor offers applications as social media app, nor incentives to join
        • Also have yet to offer clear mobile presence , with exception of location-based mapping
  • 7. THE ABC GAME PLAN: Think Strengths, Not Weaknesses
      • Focus on web-savvy and e-Commerce adept 65%
        • Pinpoint those who already buy most often, and earn their loyalty
        • Those over age 65 can then be influenced in the long-term by word-of-mouth
      • “ Niche-to-industry standard” Approach
      • Maintain digital focus. And build on it.
        • Active Social Media presence
        • Mobile applications & browsing
        • Online community to inform and interact with the target audience
  • 8. Key Strategic Actions for Positioning
      • Redefine Yourself
        • Community-focused and relationship based
        • Design, colors, visual vocabulary, iconography, tone, voice, overall identity compass (not “system” – that word does not fit into new relationship lexicon)
      • Shy Away from Traditional Trappings
        • Dollar signs in logo, transactional fonts and language, old-school “biz” phrases, and the like
        • Be yourself.
      • Use Each Encounter to Create a Positive Brand Experience
      • Stay on the Offense
        • Define the others for a change – transactional, fee fighters, etc.
        • Challenge the competition after defining yourself
          • Relationships, tell a story, empathy, incentives, mobile / social integration, etc.
  • 9. Content Strategy Overview
  • 10. MESSAGING: Behavioral Commerce
    • Web Promotion & Loyalty Incentives
      • ABC Building Blocks
        • Lower significantly the acceptance qualifications with proof of intent to purchase (or down payment toward) of housing, child care, transportation, or health care
        • Partner with bodies like GMAC, hospitals, day cares, car dealerships – enabling ABC to pay directly to community service providers
        • Regional Twitter-based (or even direct referral) contest awarding a loan up to $1,000 family loan each month for most retweets, mentions, #FFs, etc.
      • ABC Parenthood
        • Reduced APR on school or child care-related loans
      • “ The ABCs of Living Debt Free”
        • Lifestyle blog and discussion community, promoting debt-free life through financial tips, APRs and rates, industry and competitor exploits, interactive feedback, etc.
  • 11. User Purchase Process Purchase Experience Experiences After-The-Sale Brand Loyalty & Evangelism Enters the Market Searches for Information Evaluates Alternatives Buyer Decision
  • 12. Market Entry & After-the-Sale
    • Buzz-Watch
      • Description:
        • Monitor online social media, analyze and report findings to ABC
      • Goal:
        • Improve reputation online, spot emerging trends, and proactively deal with issues
      • Timeline: Ongoing
      • Owner: PR | Xchange Digital
      • Resources:
        • Xchange Buzz-Watch monitoring; ABC eMarketing, Service, and PR involvement
  • 13. Market Entry & Brand Loyalty
    • Social Media Communication
      • Description:
        • Build a Facebook page that includes an app where users can apply online
        • ABC personnel responding to online media mentions and issues
      • Goal:
        • Improve ABC’s reputation online, proactively deal with service issues
      • Timeline: Ongoing
      • Owner: Client PR | Xchange Digital
      • Resources:
        • Dedicated person at ABC and/or agency contract; training from Xchange; input from Buzz-watch; ABC Service and PR involvement
  • 14. Enters the Market
    • Leveraging Online Media
      • Description:
        • Leverage external online interactive content placements, financial partnerships, cross-promotion and ads
      • Goal:
        • Increase visibility of brand online, maximize value from online media placements
      • Timeline: Ongoing; 4-8 weeks per placement
      • Owner: Xchange
      • Resources:
        • Client PR; digital strategy input from Xchange; rich media creative & production
        • Media TBD; Strategy input
  • 15. Enters the Market
    • Widgets | Gadgets
      • Description:
        • Create interactive widgets/gadgets (ex: recipe box) to distribute via appropriate popular external networks (ex: iGoogle, My Yahoo!, etc.)
      • Goal:
        • Increase visibility of ABC brand online
      • Timeline: 1 -2 months per placement
      • Owner: Xchange
      • Resources:
        • Xchange eMarketing, digital strategy and development
  • 16. Enters the Market
    • Podcasts
      • Description:
        • Create podcasts for communicating product and marketing messaging to younger segments and employees
        • Community and financial trends, advice, FAQ responses, promotion awareness, etc.
      • Goal:
        • Increase visibility of brand, facilitate education, maintain consistency of brand messaging
      • Timeline: Ongoing
      • Owner: Xchange / PR
      • Resources:
        • ABC eMarketing; PR; Sales; Product Management
  • 17. Information Gathering
    • Enhance Internal Search
      • Description:
        • Improve search functionality on consumer site. Expand properties indexed; filtering and categorization of search results
      • Goal:
        • Enrich consumer experience online, shorten time needed to find relevant products, increase conversions
      • Timeline: 2 months
      • Owner: Client eMarketing/Xchange
      • Resources:
        • Agency development, eMarketing content management
  • 18. Information Gathering
    • Organic SEO & Paid Search
      • Description:
        • Make website content more search-friendly and optimize for organic search
        • Reconstruct ABC Paid Search campaigns to effectively promote the brand online
      • Goal:
        • Increase web visibility, generate leads, capture market share, protect brand online
      • Timeline: 4-6 weeks initial audit; ongoing
      • Owner: ABC eMarketing / Direct Marketing / Xchange
      • Resources:
        • Xchange content audit; ABC content management
  • 19. Information Gathering & Brand Evangelism
    • Mobile Device Support
      • Description:
        • Optimize website for users with mobile devices, creating a special version of the site that caters to the special needs of mobile browsing
        • Develop application (iPhone and Android) allowing users to gather info or apply for a loan using their mobile device
      • Goal:
        • Generate new leads, facilitate consumer conversations, increase visits to dealers
      • Timeline: 6 –8 months
      • Owner: Agency & ABC eMarketing / development team
      • Resources:
        • Xchange development and digital strategy input
  • 20. Information Search & Evaluates Alternatives
    • Site-lets and Landing Pages
      • Description:
        • Landing pages and mini-sites to support new product/service introductions and key promotional messages
        • Fed via Email Marketing or Paid Search Campaigns
      • Goal:
        • Generate new leads, increase awareness of new offerings, boost website visits
      • Timeline: 2 – 4 months
      • Owner: eMarketing / Xchange
      • Resources:
        • eMarketing, Advertising
        • Agency, digital strategy and development
  • 21. Evaluates Alternatives
    • Guided Selling
      • Description:
        • Provide support tool selection based on user preferences and priorities, making the process of selection easier and more efficient
      • Goal:
        • Streamline purchasing process, increase customer satisfaction.
      • Timeline: 3 –4 months
      • Owner: ABC eMarketing/Xchange
      • Resources:
        • Agency digital strategy and production; product marketing subject matter expert
  • 22. Evaluates Alternatives
    • Product Ratings & Reviews
      • Description:
        • Allow users to have a voice by implementing ratings and reviews throughout the website, blog, and Facebook page
      • Goal:
        • Increase customer engagement, satisfaction and conversion rates
      • Timeline: 3 –4 months
      • Owner: ABC eMarketing/ Xchange
      • Resources:
        • BazaarVoice ratings tool
        • Xchange digital strategy and production; ABC PR support
  • 23. Evaluates Alternatives
    • Blog & Lifestyle Content
    • ( w/ open interaction, comments & real-time feedback )
      • Description:
        • Convert existing lifestyle/info/cause-related internal site content to blog format
        • Add financial tips along with an ABCs of Living Debt Free Q&A section
      • Goal:
        • Increase customer engagement, showcase extensive lifestyle content more effectively, improve overall perception of the ABC brand
      • Timeline: 3 –4 months
      • Owner: Client eMarketing/Xchange
      • Resources:
        • Xchange strategy and production; product marketing subject matter expert; content providers; eMarketing content management; ABC PR
  • 24. Evaluates Alternatives
    • Customer Stories & Testimonials
      • Description:
        • Enliven content on website, blogosphere, and social media by soliciting and including customer stories and testimonials
      • Goal:
        • Increase customer engagement, embrace user-generated content, improve overall perception of the brand
      • Timeline: 3 –4 months
      • Owner: Client eMarketing/Xchange
      • Resources:
        • BazaarVoice testimonials tool
        • Xchange digital strategy and production; client PR support
  • 25. Evaluates Alternatives & Purchase Experience
    • User feedback program/surveys
      • Description:
        • Establish user feedback program with ongoing surveys and other poll metrics
      • Goal:
        • Improve purchasing process, decrease confusion, improve overall perception of the brand, increase conversions
      • Timeline: 4 weeks initial, ongoing
      • Owner: ABC Direct Marketing/Xchange
      • Resources:
        • Agency UX & Usability direction; Client eMarketing, Service and PR support
        • Ongoing rating / survey tool TBD
  • 26. Evaluates Alternatives
    • Rich Media & Video Differentiators
      • Description:
        • Integrated rich media / online video focused on illustrating community outreach, promotions, incentives, forum and podcast features, differentiators, etc.
        • Online demos showcasing ease of application (internal & external - YouTube, etc.)
      • Goal:
        • Entice consumers, improve overall perception of the brand, increase conversions.
      • Timeline: Ongoing; 4 -8 weeks per piece
      • Owner: Client Advertising / Xchange
      • Resources:
        • Client PR; digital input from Xchange; rich media creative and production
  • 27. Evaluates Alternatives
    • Enhance The ABC story
      • Description:
        • Enhance brand story (ex: customer experience commitment stories
        • Interactive tools such as media bins (3 maximum), APR/rate/fee calculator, etc.
        • Financial tips, life-planning - Virtual tour of financial plans
        • “ Employee” blog (copywriter edited, or ghost-written)
      • Goal:
        • Improve overall brand perception, highlight key portions of the ABC story, differentiate brand from key competitors
      • Timeline: 3 -4 months; ongoing
      • Owner: Client eMarketing / Xchange
      • Resources:
        • Agency, production, content providers; web content management; Client PR
  • 28. PURCHASE DECISION | EXPERIENCE
    • Regional Pricing Online
      • Description:
        • Place regionalized APR / Rates / Fees online for ABC major loan segments
      • Goal:
        • Fulfill an oft-identified need, speed purchasing process, qualify potential leads
      • Timeline: 6 weeks
      • Owner: Client eMarketing/Xchange
      • Resources:
        • Xchange digital strategy and production; ABC distributors
  • 29. PURCHASE EXPERIENCE
    • Loan Bundling
      • Description:
        • Offer reduced fees and interest rates for multiple incentive loan applications
        • (Ex. Home down payment + Child Care, Transportation + Health Care, etc.)
      • Goal
        • Encourage positive word-of-mouth, boost awareness, gain favorable brand recognition, and repeat business in each community
      • Timeline: Immediate
      • Owner: Client marketing
      • Resources:
        • Agency-client synthesis to determine feasibility & profitability of each bundle
  • 30. After-the-Sale
    • Registration Follow-Up Email
      • Description:
        • Automatic email inviting clients to explore blog and other ABC social channels. Functionality could also be used for other automatic mailings.
      • Goal:
        • Engage with users, convert offline customers to online, establish direct line of communication, improve customer service, increase overall brand perception.
      • Timeline: 6 –8 weeks
      • Owner: ABC Direct Marketing/Xchange
      • Resources:
        • Xchange digital strategy and production
        • Client Direct Marketing support; ExactTarget
  • 31. After-the-Sale
    • Click-to-Chat Customer Service
      • Description:
        • Implement click-to-chat customer service on the ABC consumer site.
      • Goal:
        • Engage with the consumer, increase customer satisfaction, increase quality of service, increase overall perception of the brand and services provided.
      • Timeline: 3 -4 months; ongoing
      • Owner: ABC eMarketing & Service / Agency
      • Resources:
        • Chat tool TBD
        • Xchange digital strategy and production; ABC Customer Service support

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