Coldwave Social Marketing Product Strategy
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Coldwave Social Marketing Strategy. The ColdWave is the ultimate beverage cooler. Pour in any hot beverage, insert the frozen placer, and instantly enjoy your flash-chilled drink.
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Coldwave Social Marketing Product Strategy
- 1. COLDWAVE: Laurence Eng, Sarah Orciuolo, Pooja Patel, Alex Turgeon, Laura Virga, Aly Whalen
- 3. The easiest, most effective way to cool your coffee, or favorite beverage of choice, instantly. SOLUTION
- 4. PRODUCT
- 5. COMPETITION Limited Beverage Types All Beverages Application of FunctionEffectiveIneffective PracticalEffectivenessofCoreFunction
- 7. TARGET USERS Home Mom Coffee Creatives College Crowd B2B Who? 35-55 year old. At home women. Shared culinary interest. 18-35 year old. Coffee aficionados, designers, writers, and startup. Shared interest in quality of coffee and drink. 18-24 year old. Millennials with disposable income. Shared interest in trends and alcohol consumption methods Cafes and Restaurants. Individually owned and operated. What? Tea, Wine, Spirits, and Coffee. Coffee Beer and Spirits Coffee, Tea, High-end Cocktails, and Chilled Water Value? Novelty, utility, and immediate use application. Effectiveness, efficiency, simplicity of use and design Access to ice-cold drinks without watering down or losing carbonation. Cost Savings on Cooling and Differentiation
- 8. MARKET SIZE & VALIDATION Home Mom Coffee Creatives “Once I figured out how to use it, I was pleased by how much I was able to use it. No more waiting for iced tea.” - Pennie Turgeon “This isn’t Cold Brew, but it's better than Cold Brew.” - Matthew Essig, Clark ITS College Crowd B2B “ I didn't like waiting to use it the first time, but it actually worked on beer. Like on a whole 6 pack!” - Dick Horn, Syracuse “I am honestly surprised at how quickly and well the Coldwave did coffee.” - Dave, Acoustic Java
- 9. MARKET SIZE & VALIDATION ALCOHOLIC BEVERAGE: Wine ● 56% consume wine daily or several times per week ● Median annual income is $50,000-$69,999 ● 18% make more than $100,000 per year HOT BEVERAGE: Coffee ● Home Drinking Market rose from 44% in 2002 to 60% in 2004 ● 12% have visited a coffee shop monthly ● 27% of US adults drink coffee, and the amount is rising
- 10. SOCIAL MARKETING STRATEGY SUGGESTIONS: • Platforms: Tailored, cross-platform Approach integrated With SEO • Promotion: Aggressive promotion, Through the pushing of Created content, social ads and paid content on popular sites. OBJECTIVES: • Drive Website Traffic and Search • Engagement to drive awareness & demand • Loyalty & building a following • Sales stimulation
- 11. Voice: All-American Casual Constantly Cool Practical Knowledgeable SOCIAL MARKETING STRATEGY CONTENT Social Currency #IceColdNow Triggers Practical Value “Will it Chill?”
- 12. SOCIAL MARKETING PLATFORMS User College Crowd, Coffee Creatives, Possibly B2B All College Crowd, Coffee Creatives B2B, Coffee Creatives All College Crowd, Coffee Creatives Home Moms, Coffee Creatives Voice Casual Casual Casual Formal Moderate Casual Casual Activities Promotions and Conversation Content Creation & Conversat ion Promotions & Value Lead generation, Promotion Content Creation Promotion Promotions & Conversation Platform Metrics Followers & Retweets Likes & Shares Likes & Followers Followers Views & Shares Views, Likes & Subscribers Views, Pins, & Followers
- 13. SOCIAL MARKETING OVERSIGHT SOCIAL TEAM • Composed of a team members from different areas in the organization, but centralized core team. • Marketing, customer support, HR, etc • Governance - Postings to be approved by authorized marketing members Team Members ● Content Designer ● Social Analyst ● Community Care Manager ● Public Relations and Social “Voice” (PR) Manager SERVICE ISSUES • Handled exclusively by customer support representatives (within the social team) • Goal: To respond to all posts within 1 business day • Referred to formal support channels, in order to facilitate better service
- 14. OFFLINE MARKETING EFFORT Guerilla Marketing Awareness • Seasonal, pop-up events • Coldwave Workshops Seeing is Believing • Direct, face to face partnerships with cafes to show product in front of customers Aggressive Smarter Cheaper Cohesive, linked with online materials and strategies
- 15. REVENUE STREAM ● B2B sales driven by instant nature of cooling, quantities, preservation of flavor ● Sales to Coffee creatives driven by preservation of flavour, instantness ● Sales to Home Mom by instantness ● Sales to College Crowd driven by instantness CHANNELS ● Awareness/Engagement ● Social Media presence ● Web presence Sales ● Direct Sales - online ● Large and local retailers Service ● Dedicated customer service ● Product warranties COST STRUCTURE ● All sales for $39.99 ● B2B bulk order prices available ● Sales prices affected by production cost and marketing BUSINESS MODEL
- 16. SOCIAL ROI & METRICS METRIC OUTCOMES Conversions 83% of fans are leads, 70% of leads are sales Reach and Relevance 366k fans and followers Interactions 418k likes, replies, retweets Activity Ratio 114% activity ratio, 65% active audience ratio Content Effectiveness 3k:1 comments/content, 72% content/share Brand Sentiment 90% positive sentiment across channels Inbound Links 37k links, with Starbucks and Dunkin Donuts Influence 77% meet desired outcomes Customer Service 85 monthly resolutions, savings value of $95k 213,242 units sold and $8.5 million in sales (58% conversion rate) Twitter followers 62k Facebook likes 118k Youtube subscribers 183k
- 17. THE A$K ➔ Units sold expected to reach 1m in 2017 and 2.9m in 2021. ➔ Net income expected to range from $2m in 2017 to $5.4m in 2021. ➔ Asking for $1m for 8% equity. ◆ Funding will be used for manufacturing infrastructure and R&D in order to keep operating margins from declining and to develop product line. ◆ Economies of Scale 59.9% 54.5% 37.7% 18.3% 9.1% 5.9% 5.9% 5.7% 5.5% 5.1%
Editor's Notes
- Alex
- Alex Time Money Quality
- Alex
- Alex
- Alex AUDIT
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- Alex B. Define your target market and segment?
- Market Research he provided Aly/Laura Laura (According to the Annual American Wine Consumer Preference Survey)
- Market Research he provided Aly/Laura Laura (According to the Annual American Wine Consumer Preference Survey)
- Objectives to drive awareness and behavior to our website. Conversion is on a purchase In order to optimize our Social Marketing, we must incorporate SEO into our strategies SEO Keyowrods to consider: Icecoldnow Coldwave Cold Wave Ice cold now Drink Chiller Iced coffee maker Beer cooler Warm beer Kitchen Home Iced Coffee Tea Drink maker Cooler chiller
- Leverage STEPPS from Contagious to generate viral content. Social Currency Unique experience and capability Trigger Ice crackle Practical value “Will it Cool?”
- Mention YouTube as a content creation platform D. Which social outposts will you use (twitter, FB, LinkedIn, etc)? and why? Provide recommendations: What we would do if we were you and what we would ask for if we were you.
- To ensure we align Coldwave’s offline strategy with its online,we will use similar promotions, giveaways, and guerilla marketing to generate conversations. Guerrilla Marketing takes the consumer by surprise, makes a strong impression, and pops up where and when people least expect it. Ideas for this are: using creative approaches to get the “Crackle” sign to be a trigger for people. Events: brew races, coffee house concerts, cold brew challenges Workshops: crafting the best, ice cold drink Generate buzz around the company name: “Ice Cold Now” with promotional materials At the moment, IceColdNow’s strategy focuses on expanding sales channels: acquiring distributing rights/deals with large retailers, but we say to stay with direct sales.
- Conversion and capture rate (out of 10 fans, only 4 are casual friends of friends or non committal fans) (aligns with the supporting data for activity ratios) Content effectiveness (for every crackling video or ICECOLDNOW challenge, average of 3k comments) and 7 out of 10 spread the news with their network Brand sentiment (would be 100% if the last 10% wouldn’t have tried pouring beer in the Coldwave the first time) Influence (promotional tweets/posts, voting on the next color of Coldwave) Customer service (how to videos on Facebook and Youtube, 24 hour turnaround time, using data to create FAQs) that turn into sales or sales through social media Reach and Relevance- People impacted and opportunities for sales created Interactions- Engagement of reach and relevance Activity Ratio- Ratio of active members per social reach Content Effectiveness- Ratio of comments to content, content to share or comments to profile Brand Sentiment- Where and when people from social reach the happiest? Inbound Links- Inbound links or sources that link back to the network Influence- Controllable, desired reactions and outcomes based on action Customer Service- Effective and efficient customer service
- $1 million at 8% = $12.5 million company evaluation $15 to make… $45 sell at scale $10 to make…..$30 sell at scale Profit margin $20 per cold wave Selling units on 1 million coldwave X2 on ice coldnow Oxo brand Appliance side