Reimagining Classics - What Makes a Remake a Success
Business Canvas
1. Digital MarketingCanvas
Designed for:
Designed by:
Date:
Executive Summary
YO! Karaoke
Krysisha Conly
4/11/2016
Mission statement: YO! Karaoke is a user generated, traveling concert sing-a-long party. Each Yo! Karaoke customer will be provided
with a new refreshing traditional karaoke experience with an unforgettable twist.
Business Background: YO! Karaoke was thought of and formed in early 2015. The owner, Krysisha Conly wanted to bring her hometown
Milwaukee, WI something everyone loves, but exciting enough to keep them coming back for more another night. With the success, it
was receiving in Milwaukee, inquiries on bringing YO! Karaoke started to slowly come in.
Products and Services: Every YO! Karaoke experience will be unique and different from the last. What's included in YO! Karaoke's service
are two 19' inch flat screen TVs, four iPad Minis (karaoke song lyrics included), one iPad air (karaoke song lists included), two Macbook
Airs, one portable turntable. YO! Karaoke will also provide merchandise products such as stickers, t-shirts, and keychains to sell for
customers.
Opportunity: According to Ibisworld.com, "The Karaoke Bars industry has experienced significant declines in revenue due largely to
decreases in per capita alcohol consumption and disposable income brought on by the recession. The industry will continue to face
challenges in the form of increasing alcohol regulation and competition from video games, pirated music and smartphones
(ibisworld.com, 2016)." This will give YO! Karaoke the opportunity to bring karaoke back to life and keep it thriving with their twist to a
karaoke tradition.
Marketing Campaign Summary: This Canvas covers the use of Social Media, Digital PR, and Affiliate Marketing to increase awareness for
YO! Karaoke's products and services. YO! Karaoke's canvas also includes goals of each channel and how they will be implemented within
the year's campaign. The objective of YO! Karaoke is to increase awareness of YO! Karaoke's mission and business. YO! Karaoke has a
budget of $18,000 and is anticipating that 9 bookings will assist in their break-even costs and will cover their marketing campaign.
2. Digital MarketingCanvas
3. Industry Analysis 5.Value Proposition1. Business Concept 6. Customer Segments
4. Competitors
7. Channels
Designed for: Designed by:
8. Campaign Pre-Planning
Campaign Focus:
Objective Statement:
Goal #1:
KPI #1:
Target #1:
Goal #2:
KPI #2:
Target #2:
Goal #3:
KPI #3:
Target #3:
CONSIDERATIONS
Outline the industry, projecting the next 3-5 years. How will the
projected future affect your business and marketing decisions?
At least one resource must be used to support your future industry
projections. Cite research with an APA in-text citation.
CONSIDERATIONS
List 3 competitors. Make note of why each is a competitor. Identify products/services that
are in direct competition.
CONSIDERATIONS
Outline the business concept. Define whether business will be online,
brick & mortar, or both. Identify whether this marketing plan will
focus on B2B or B2C.
CONSIDERATIONS
Choose at least 3 channels to use in this marketing plan: SEO, Paid Search,
Display Advertising, Digital PR, Email Marketing, Affiliate Marketing, Social Media.
CONSIDERATIONS
Who will buy the products, services, or packages your business
offers? Identify at least two customer segments. Elaborate on
the characteristics that make up each group. What are their
interests, hobbies, income levels, gender, habits? Where do they
live, in what type of houses, and what life phase are they in?
If you are marketing to businesses (B2B), then identify the
characteristics of the decision makers in the businesses that will
choose to buy from you.
CONSIDERATIONS
What value is delivered to the customer? What customer needs are
satisfied? What makes this business the best option for the customer?
What need does the business solve or fulfill for the customer?
1.
2.
3.
1.
2.
3.
Full Sail University
3300 University Blvd
Winter Park, FL 32792
Entertainment Business Master of Science
Digital Marketing (MAR681) | Course Director Kristin N. Stewart, MBA
Date:
2. Revenue Streams & Pricing Strategy
CONSIDERATIONS
What does your business sell? How does your business make money? Identify up to 3
revenue streams or package/product/service offerings. Include the price at which you
will sell each to your customers.
Choose either INCREASING AWARENESS or PROMPTING SALES
This marketing campaign will focus on
of
over a one year time period.
1.
2.
3.
YO! Karaoke Krysisha Conly 4/11/2016
Yo! Karaoke is a traveling concert sing-a-long
party. It will provide more than your
traditional karaoke entertainment for all
ages. Yo! Karaoke is an unforgettable
experience with a twist. Yo! Karaoke's
marketing plan will focus on marketing B2B
and B2C.
Bookings
$5,500
Tickets (exclusive parties)
$5.00 -20.00
Merch (stickers, keychains, and t-shirts)
$5-25.00
According to Ibisworld.com, "The Karaoke
Bars industry has experienced significant
declines in revenue due largely to
decreases in per capita alcohol
consumption and disposable income
brought on by the recession. The industry
will continue to face challenges in the form
of increasing alcohol regulations and
competition from video games, pirated
music and smart phones (ibisworld.com,
2016)." This can affect Yo! Karaoke
negatively, if the venue it is booked at
does not serve alcohol. Yo! Karaoke will
need to figure out a way to keep the
customers engaged if booked at a venue
that does not serve alcohol. Possibly ticket
discounts or a BYOB deal that includes
regulated rules. If there is a venue that
serves alcohol, they can think of a way of
incorporating a discount or drink special to
increase ticket and drink sales.
According Namm.org, "This year we
discontinued the tracking of karaoke
software because it has largely migrated
from the retail environment to digital
downloads." This will not affect Yo!
Karaoke, because the equipment used to
provide this new, yet traditional experience
will be digital.
Trap Karaoke is a traveling karaoke
service that also offers a party experience
similar to Yo! Karaoke.
Karaoke Machines provides customers
with portable anytime/anywhere
traditional karaoke experience.
Independent Karaoke Bars provides their
own karaoke experience the way they
want it to be.
Yo! Karaoke values the customers diversity
and flavor when it comes to music, so in return
it will deliver nothing but flavor! Having an
unforgettable party experience with friends
and family, while seeing your favorite
performer perform during a mini concert. Yo!
Karaoke is providing a different experience
every time someone comes to party with Yo!
Karaoke. It provides various of genres, party
editions, and artists. Each Yo! Karaoke party
will be different per city and night to keep our
customers surprised every visit.
Hipster College Students:
This customer segment is always
interested in going out and coming
across something fun. They also love to
to bring back vintage/traditional fads
and trends and aware their generation
of them. They are more likely to try
something new out if it is interesting.
They are also more willing to become
loyal customers of a brand as long as the
brand stays true to their mission.
College Student Driven bars/venues:
This business segment makes their
business from college students. They are
always into trying something new to
keep their loyal customers coming and
to bring in new loyal customers. They
know that by doing this they will have
customers that will continue to come
back and purchase alcohol and bring
friends along.
Social Media
Digital PR
Affiliate Marketing
Increasing Awareness
Increasing Awareness
Yo! Karaoke's mission and business.
Use Social Media to increase awareness by marketing and
promoting new cities, parties, merch and special guest
(artist performance) with engaging contests and posts.
Followers
5K Followers
Use Digital PR to increase awareness by sharing
videos, merch and comp. tickets with
entertainment bloggers and radio stations.
First time visitors
10K Visitors
Use Affiliate Marketing to increase awareness
by giving comp. tickets to venues that are
booking us early.
Booking Inquiries
25 different venues
3. 9. Digital Marketing Channel 1 10. Digital Marketing Channel 2 11. Digital Marketing Channel 3 13. Campaign Break Even
12. ImplementationTimeline
Full Sail University
3300 University Blvd
Winter Park, FL 32792
Entertainment Business Master of Science
Digital Marketing (MAR681) | Course Director Kristin N. Stewart, MBA
Budget: Budget: Budget:
Timeline of when & how to use
each channel during the campaign.
Designed for: Designed by: Date:
Digital MarketingCanvas
CONSIDERATIONS
Using the revenue streams listed in box 2, determine the retail price of a typical sale for your business. This could be made up
of a combination of products or services, or it may be a single product, service, or package. It should be what you hope to
ideally sell as a result of this campaign’s marketing efforts. Determine the profit per typical sale but multiplying the price of a
typical sale by 0.20. A 20% profit per sale is a conservative average. It could be higher or lower depending on your specific
business and industry. You will be able to more accurately determine the profit per sale when you have more operating data
in the future.
PRICE
of a typical sale:
x 0.20 =
PROFIT
from a typical sale:
Channel Name Budget Profit per Sale Sales Needed to Break Even
$18,000
(Total for 1 year)
CONSIDERATIONS
Is there a channel you are concerned about within this campaign? Will you be able to realistically make enough sales to
break even? Discuss any concerns you may have about this campaign.
Optimization
Quarter 1 Quarter 2 Quarter 3 Quarter 4
1.
2.
3.
YO! Karaoke Krysisha Conly 4/11/2016
Social Media
$ 6,000.00
YO! Karaoke's social media includes
Snapchat, Twitter, Instagram, YouTube,
official website and a Facebook business
page. All of these platforms will increase
awareness by continuously keeping the
audience updated and involved in YO!
Karaoke's growing plans to bring their
business to various states. These platforms
will also give the audience and potential
customers a chance to "demand" YO!
Karaoke to their city. To increase YO!
Karaoke's SEO and SMO efforts they will use
engaging and unique hashtags in content
specific posts.
Using Google Analytics, YO! Karaoke will be
able to create unique and specific hashtags
and keywords to increase awareness on all
social platforms. YO! Karaoke will also be
able to determine which cities are
"demanding" them the most to plan an
event or to receive bookings (Google
Analytics, 2016).
Digital PR
$ 6,000.00
YO! Karaoke wants to be able to reach out to
popular Entertainment editorials, venues,
bloggers, and vloggers. This will be YO!
Karaoke's way of gaining awareness through
the use of "digital word of mouth."
Bloggers/vloggers will receive the chance to
attend a YO! Karaoke event for free and a free
piece of merchandise to post their experience
at a YO! Karaoke event! Editorials will also
receive the same and also an interview with
the owner of YO! Karaoke.
This will provide YO! Karaoke with reviews
from bloggers/vloggers who are trusted in the
entertainment industry, locally and nationally.
YO! Karaoke will set a goal of 100 emails to be
sent out every week and including follow-up
emails by using Mailchimp.
Affiliate Marketing
$ 6,000.00
YO! Karaoke wants to be able to team up with
various venues that book early to give out
comp. tickets. They are hoping that by giving
out the comp. tickets, venues will pass out
tickets and promote YO! Karaoke to bring
more awareness towards the business.
This will provide YO! karaoke with promotion
and marketing, which will in return bring
awareness toward the present and future
events.
YO! Karaoke will provide a set of 6 tickets per
venue that books them early and in return will
receive promotion and business.
Social Media
Digital PR
Affiliate Marketing
Q1 will first focus on building a Social Media
presence. This will give YO! Karaoke a
platform to get started on and will give
them some leverage as they prepare their
Press Release for bloggers/vloggers,
Entertainment editorials, and venues to
receive.
Q2 will focus on Social Media and Digital PR.
Social Media will provide the audience with
contious updates and information of what's going
and and what's to come with YO! Karaoke. Digital
PR will start being sent out to bloggers/vloggers,
Entertainment editorials, and venues to receive
with weekly follow-up included.
Q3 will focus on Digital PR and Affiliate
Marketing. When YO! Karaoke start to
receive interested Entertainment venues,
bloggers,vloggers, and Entertainment
editorials, Affiliate Marketing will kick in to
start sending out comp. tickets to start
receiving publicity and promotion.
Q4 will focus more on all of the 3 marketing
channels to finish out the year. YO! Karaoke
wants to focus more on Affiliate Marketing
to bring in more awareness towards the
end of the campaign.
$ 10,000.00 $ 2,000.00
Social Media
Digital PR
Affiliate Marketing
$ 6,000.00
$ 6,000.00
$ 6,000.00
$ 2,000.00
$ 2,000.00
$ 2,000.00
3 bookings
3 bookings
3 bookings
Not quite, 9 bookings seem very doable, but Digital PR maybe a concern for YO!
Karaoke. Sending out emails and making sure people open them and read them
can sometimes be a little bit tricky. YO! Karaoke will come up with a tactic to
make sure that emails come off appealing and with opening up.
4. Digital MarketingCanvas
References
America's Best Karaoke Bars. (n.d.). Retrieved April 29, 2016, from
http://www.travelandleisure.com/slideshows/americas-best-karaoke-bars
Google Analytics. (n.d.). Retrieved April 30, 2016, from
https://analytics.google.com/analytics/web/?
authuser=0#home/a76108008w114659712p119833514/
Karaoke. (n.d.). Retrieved April 29, 2016, from
http://www.bestbuy.com/site/musical-instruments/karaoke-machine-system/abcat0
207005.c?id=abcat0207005
Karaoke Bars in the US: Market Research Report. (2014, December). Retrieved
April 15, 2016, from http://www.ibisworld.com/industry/karaoke-bars.html
Starting Up | MailChimp. (n.d.). Retrieved April 30, 2016, from
http://mailchimp.com/pricing/entrepreneur/
The 2014 NAMM Global Report: The Karaoke Market. (2014, December). Retrieved
April 15, 2016, from
https://www.namm.org/files/ihdp-viewer/global-report-2014/A7352D4907B25A95B2
CE27A075D3956F/2014MusicUSA_final.pdf
TrapKaraokeTour - Splash. (n.d.). Retrieved April 28, 2016, from
https://trapkaraoketour.splashthat.com/