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Online Marketing Strategy

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the slides describe different theories and practical approaches to formulating and implementing an online marketing strategy.

the slides describe different theories and practical approaches to formulating and implementing an online marketing strategy.

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  • 1. AARHUS UNIVERSITYONLINE MARKETING STRATEGYJacob L. Orquin, Ph.D.Department of Business AdministrationAarhus University ASB AU MAPP
  • 2. AARHUS UNIVERSITYE-BUSINESS MODELS ASB AU MAPP
  • 3. AARHUS UNIVERSITYSTRATEGY PROCESS USERPILOT read more about the process on: http://userpilot.dk/index.php?id=68 Business goals drive KPI formulation that drive the data collection. Web analytics ask what is happening and directs other quantitative and qualitative studies to answer why it is happening. The data is analysed and action points are generated. Ultimately, the purpose is to make data driven decisions on what to implement and optimize in the online marketing mix. ASB AU MAPP
  • 4. AARHUS UNIVERSITYSTRATEGY MODEL GUAVA MEDIA ASB AU MAPP
  • 5. AARHUS UNIVERSITYTHE E-MARKETING PLAN ASB AU MAPP
  • 6. AARHUS UNIVERSITYONLINE STRATEGY MODEL SOSTAC ASB AU MAPP
  • 7. AARHUS UNIVERSITYSITUATION ANALYSISDemand-, competitor-, intermediary analysis, internal marketing audit,(SW)OT, SLEPT/PEST ASB AU MAPP
  • 8. AARHUS UNIVERSITYINTERNET AND INDUSTRY STRUCTURE ASB AU MAPP
  • 9. AARHUS UNIVERSITYDEMAND ANALYSISOnline resources like Google insights should be used to asses searchvolume and demand ASB AU MAPP
  • 10. AARHUS UNIVERSITYCOMPETITOR ANALYSISDiese et al. (2000) suggest the following equation to assess competitor brand perception:Customer value (brand perception) = Product quality X Service qualityA shortcut to assess competitor performance on customer satisfaction: TDC : 3,7/10 Telmore: 8,6/10 Bibob : 9,6/10 ASB AU MAPP
  • 11. AARHUS UNIVERSITYINTERMEDIARY ANALYSIS ASB AU MAPP
  • 12. AARHUS UNIVERSITYINTERNAL MARKETING AUDITThe internal marketing audit asseses company performance on:Business effectiveness• Internet revenue contribution• Cost-benefit analysis of producing and updating websiteMarketing effectiveness• Market share, sales, leads, retention rates etc.Internet effectiveness• Unique visitors, conversion rates, goals etc. ASB AU MAPP
  • 13. AARHUS UNIVERSITYOPPORTUNITIES / THREATS ASB AU MAPP
  • 14. AARHUS UNIVERSITYOPPORTUNITIES / THREATS ASB AU MAPP
  • 15. AARHUS UNIVERSITYSLEPT/PEST ASB AU MAPP
  • 16. AARHUS UNIVERSITYOBJECTIVE SETTINGClear objectives are critical for the formation of strategies, tactics, and KPI’s.Remember the SMART mnemonic:• Specific• Measurable• Achievable• Realistic• Time-constrained ASB AU MAPP
  • 17. AARHUS UNIVERSITYSTRATEGIC OBJECTIVE SETTING ASB AU MAPP
  • 18. AARHUS UNIVERSITYBUSINESS VALUE4 ways of creating business value with e-business proposed by Marchandet al. (1999). ASB AU MAPP
  • 19. AARHUS UNIVERSITYONLINE REVENUE CONTRIBUTIONDoes online revenue contribution cannibalize offline turnover or wheredoes the market come from? ASB AU MAPP
  • 20. AARHUS UNIVERSITYSTRATEGY PROCESS A generic strategy process model proposed by chaffey (2007) ASB AU MAPP
  • 21. AARHUS UNIVERSITY6 KEY DECISIONSThe strategy definition is driven by the objectives and vision. ASB AU MAPP
  • 22. AARHUS UNIVERSITYMARKET/PRODUCT POSITIONINGWhat could the positioning parameters be for a online music store? ASB AU MAPP
  • 23. AARHUS UNIVERSITYTARGET MARKET STRATEGY ASB AU MAPP
  • 24. AARHUS UNIVERSITYTACTICS AND THE MARKETING MIXDefining the 7 P’s in an online context: ASB AU MAPP
  • 25. AARHUS UNIVERSITYPRODUCTThe internet allows for long tail economics which dramatically affects theproduct variety. ASB AU MAPP
  • 26. AARHUS UNIVERSITYPRODUCTThe death of the 20/80 rule. Instead:1. Make everything available.2. Cut the price in half. Now lower it.3. Help me find it. ASB AU MAPP
  • 27. AARHUS UNIVERSITYPRICETwo main approaches:• Start-ups used low-price models to establish customer base• Existing firms transferred existing prices to the webCustomers have focus on price and often use price comparison engineskelkoo, pricerunner, and the Danish EDBpriserHowever, only 8% are aggressive price shoppers! ASB AU MAPP
  • 28. AARHUS UNIVERSITYPLACEThe internet has large implications on place mainly because of global reach. This can lead to channelconflicts:A communication channel only• Particularly when manufacturers offer an exclusive, or highly selective distribution approach; e.g., Rolex watches• The choice of distribution channel may dilute brand imageA distribution channel to intermediariesA direct sales channel to customers• May not be appropriate when prices vary geographical areas;• no existing contracts/agreements;• low pre-sales and after-sales supportAny combination of the above• Sales representatives may be threatened, however they are important for generating leads ASB AU MAPP
  • 29. AARHUS UNIVERSITYPROMOTION ASB AU MAPP
  • 30. AARHUS UNIVERSITYMATCHING COMMUNICATION AND BUYINGBEHAVIOR ASB AU MAPP
  • 31. AARHUS UNIVERSITYSERVICE P’SParasuraman et al. (1985) suggest that service quality is judged onfollowing parameters: tangibles, reliability, responsiveness, assurance, andempathy.Which service parameters do you think matters the most to onlineshoppers?• ________________• ________________• ________________• ________________• ________________ ASB AU MAPP
  • 32. AARHUS UNIVERSITYBRANDING ON THE INTERNETTransfer traditional brand onlineLeverage existing brand equity; cautious of the risk that if website is of poor quality in terms of performance,structure & information content, brand identity is negatively affected.Companies like Guiness, Orange, ArgosExtend traditional brand: variantCompanies create slightly different version of their brand on the web; target different segmentsUsed to distinguish from rivals; however might be problems with brand recognition; brand trust & qualityassociations may be damagedPartner with existing digital brandPromote it products in association with a strong Internet brand such as Yahoo! or MSN, example,Waterstones and AmazonCreate new digital brandEntirely new brand; for example, if offline brand has negative connotations or is too traditional; Eggbanking service – part of Prudential; can attract younger segments ASB AU MAPP
  • 33. AARHUS UNIVERSITYBRAND ARCHITECTURE ASB AU MAPP
  • 34. AARHUS UNIVERSITYGETTING REAL ON INTERNET TACTICS ASB AU MAPP
  • 35. AARHUS UNIVERSITYACTIONSWhat’s missing? Adapted from Bager (2009) ASB AU MAPP
  • 36. AARHUS UNIVERSITYTASKS ASB AU MAPP
  • 37. AARHUS UNIVERSITYE-CRM PROCES ASB AU MAPP
  • 38. AARHUS UNIVERSITYORGANIZATIONAL STRUCTURE ASB AU MAPP
  • 39. AARHUS UNIVERSITYCONTROL - PERFORMANCE MANAGEMENT ASB AU MAPP
  • 40. AARHUS UNIVERSITYPERFORMANCE MEASUREMENT ASB AU MAPP
  • 41. AARHUS UNIVERSITYPERFORMANCE MEASUREMENT ASB AU MAPP
  • 42. AARHUS UNIVERSITYPERFORMANCE MEASUREMENT ASB AU MAPP
  • 43. AARHUS UNIVERSITYCONTACTJacob L Orquin, Ph.D.Department of Business AdministrationAarhus UniversityE-mail: jalo@asb.dkCheck out my company:www.userpilot.dk ASB AU MAPP