Digital Strategy - Technology Plan
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Muvarde is a company that produces handcrafted leather goods. They have developed a technology plan to boost online engagement and sales through social media and their website. The plan includes recommendations for identity management, customer interaction features, a centralized online platform, gamification, and an improved shopping cart. It prioritizes these recommendations and provides a timeline for implementation over 2 years. Key metrics for measuring the success of the plan include social media engagement, word of mouth, new customers and revenues, and financial returns from social media referrals.
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Digital Strategy - Technology Plan
- 1. Muvarde Technology Plan TopSource Team Andrea Echavarria | Andrew Jenkins | Chethan Mittapalli | Dante Paredes | Donald Gourley | Evan Lodge
- 2. Agenda 1 3 4 5 Muvarde’s Overview Recommendations • On-site • Off-site Project Timeline Metrics and ROI Social Media and Technology Strategy2
- 3. Muvarde Overview Who is Muvarde? • Fashionable handcrafted leather goods with design. Product Characteristics: o unique and exclusive designed products o stylish, elegant, creative o innovation combined with high quality
- 4. POST Analysis People - Assess customers' social activity (i.e. capabilities). Build knowelege base of target audience and target market. Objective - Determine the desired goals and how to achieve and measure them. Strategy - Predict and shape new dynamic relationships with customers. Technology - Compare and select which social technologies to use
- 5. Project Context What? • Provide recommendations so Muvarde can use technology as an strategy to boost their E-sales How? • By developing a Technology Plan to foster community engagement, allowing customers to interact with each other and with the company.
- 6. Why ? 1 2 3 No engagement on Muvarde website Boost sales Muvarde’s online communication is a monologue Create brand awareness and an online “buzz” about Muvarde One Stop engagement platform through Muvarde’s Website 4 5 6 Off-site strong and relevant presence Last Blog made Dec 29, 2012
- 7. People: Target Audience Target Market or Target Audience: • 22-35 year old men and women • Fashion forward individuals • Income range 70K+
- 8. Their relationship with Social Media: • Loyal Muvarde Product Owners • Early adopters • Super users • New joiners • Spectators and Collectors People: Social Media Customer Profile
- 9. Objectives Enhance customer engagement to complement Muvarde operations: • Offsite • Onsite Use engagement to: • Improve Brand awareness • Influence future purchases • Refer new customers • Data analytics 1 2
- 11. Social Media Strategy Community • Social Network user management • Gamification • Conversations • Reviews & Ratings • Recommendations • Voting/Polling • Contests/Promos • Comments Content • User generated • Products • What's new • Videos • Demos • Blogs Collaborative Platforms • Social networks • Share and tweet • “Viral” • Word-of-Mouth • Followers/friends/ • fans • Super users, Badges
- 12. Social Media On-Site RecommendationsMuvardeOn-SiteCommunity 1. Identity Management 2. Customer Interaction Spaces Commenting Sharing Ratings and Reviews 4. Gamification Badges and Super users 3. One Platform
- 13. 1. Identity Management "Users who login with Social Login are five times more likely to make a purchase than users who log-in via standard login" Benefits: Social Media Log In • Less Friction • Promotes user interaction • Data Analysis
- 14. Social Identity Technology Options Technology Options Pros Cons 1. Janrain Seems to be the best at integration with other 3rd party plugins. Janrain is the largest in this space. Only offers identity management 2. Gigya Established enough, and offers the other products we are looking for offers suite of social products
- 15. "The simplicity and social functionality of the Comments plugin caused a 500% jump in posted comments" Commenting Benefits • Allows users to interact with each other 2. Customer Interaction Spaces Interaction Commenting Blogging Live Chat
- 16. Technology Options Pros Cons 1. LiveFyre Real time updates and notifications. Integrates well with Jandrain. Team dedicated to supporting customization expensive 2. Disqus The largest player in this space Not as easily indexed by search engines as livefyre. Many large players have moved away in favor of Livefyre 3. Intense Debate probably cheaper has faded in popularity 4. gigya has other plugins we want smallest player of those reviewed 5. Facebook clean design. Get limited data back, only able to login with Facebook Commenting
- 17. Sharing Benefits • Brand awareness • New visibility 2. Customer Interaction Spaces Sharing
- 18. Ratings and Reviews Benefits • Allow users to rate products and give reviews so that they can help others choose products on your site 2. Customer Interaction Spaces
- 19. Technology Options Pros Cons 1. Gigya smallest player not focused on reviews 2. BazaarVoice equivalent to PowerReviews. Comes down to price. Highly Customizable stand alone product 3. PowerReviews equivalent to BazaarVoice. Comes down to price. Highly Customizable stand alone product Ratings and Reviews
- 20. Ratings and Reviews Benefits • Increases Social Activity • Determines influencers • Influencers will bring new customers • Fosters constant interaction with Muvarde 3. Gamification
- 21. 4. One Platform Benefits • Brings user to Muvarde website • Ensures that current customers can see new products
- 24. Muvarde Fashion Combinations Is more than just Like or Dislike Muvarde’s look should be about awesomeness!
- 25. Fashionably Relevant Muvarde People see Muvarde as a Fashionable item that they MUST HAVE!
- 26. • Customers like to see the relevant size of the product. • Show the product being use in several ways Product Web Image
- 27. Fashionably Everywhere with ME! Customers should be able to picture their own Muvarde pieces inside decoration spaces.
- 28. Shopping Cart • Add advanced shopping cart • Social media integration • Share and tweet my cart products • Reviews, Ratings • Refer a friend – products • Discounts for social media referrals • Bundle similar recommendation products
- 29. Mobile compatible website • Responsive design principles • Compatible with all mobile platforms • Benefits • Improved user experience • longer visits • Improved SEO • Better Brand image • Competitive advantage
- 32. • Present Muvarde Brand • Build Strong Profile • Follow Key People • Talk with followers and Answer questions • Drive Traffic to Muvarde Website • Organize Followers into Conversation Lists
- 33. • Give People a reason to become Fans • Stay on Topic • Ask the correct questions • Include Pictures • Post and Celebrate Milestones • Run contests, polls • Measure and Manage
- 34. • Product showcasing • Showcase review videos • Strategies: • Create compelling videos • Make videos reachable and findable • Brand YouTube Channel • Use YouTube Ads • Leverage Reach through other Social Media
- 35. • Content is King: • Answer questions related to Muvarde or the Industry • Use keywords in answers to increase SEO • Answer questions directly and politely • Establish Muvarde as a Leather Expert • Use as a Market Research tool
- 36. Recommendation Prioritization Scores Increase in Revenues Increase new Customers Customer Satisifcation User Friendly Solution Easy to Implement Easy to Maintain Total Cost Score Score Score Score Score Score 1. Identity Management 5 7 7 19 7 7 6 20 39 Low 2. Custom Interaction spaces 7 7 6 20 7 4 6 17 37 Medium 3. One Platform 5 6 6 17 7 3 6 16 33 High 4. Gamification 6 7 6 19 7 3 5 15 34 High 5. Shopping Cart 8 5 6 19 7 5 5 17 36 Medium Project Sub-Total Business Value (y axis) Sub-Total Likelihood of Success (x axis)
- 37. Prioritization matrix 1. Identity Management 2. Custom Interaction spaces 3. One Platform 4. Gamification 5. Shopping Cart 16 17 18 19 20 21 10 12 14 16 18 20 22 Likelihood of Success BusinessValue Low High LowHigh
- 38. Recommendation Plan Timeline Timeframe Actions 0-3 months Create & communicate rebranding vision Build technical team skillset Integrate identity management solution 4-6 months Communicate vision Establish team metrics/deliverables Build Customer Interaction spaces Hire Interns for Social media engagement 7-12 months Communicate vision Reassess customer engagement Build Shopping cart and One platform Implement new compensation plan 12-24 months Assess social media metrics Build Gamification
- 39. Implementation Timeline Description •Move website hosting space •Implement Identity management Solution to increase customer enrollment •Implement Social media metrics •Design and build out solution to support One platform Q1 Q2 Q3 Q4 Year 1 Q1 Q2 Q3 Q4 Year 2 Year 3+ •Implement customer interaction space solution and shopping cart improvements •Implement process and people changes based on new solution •Revamp website branding and design Quick Wins Phase 1 Phase 2 •Roll out Gamification module in phases
- 40. Social Media Metrics Awareness Engagement Word of Mouth •# of members/fans •# of impressions •# ratings/reviews •# of tweets •# of followers •# of page views •# of visits •# of users •# of views •# of connections •# of comments •# of active users •# of user-generated items •Rate of activity •Time on site •(Likes + Comments + Shares)/Total Fans •Conversion rate, Engagement rate, Bounce rate •Company comments/Total comments •Network density •# of responses to polls, contests, surveys, etc. # of @replies Sentiment Analysis (Positive, Negative, Neutral) •# times appearing in friend’s timeline •# posts on wall •# reposts •# of responses to friend referral invitations •# of likes on friends’ feeds •Influence, reach scores •# of re-tweets •# of shares •Measure Share of Voice(SOV) •Brand mentions on social media
- 41. Financial Returns Socially Referred Revenues Media Equivalent Value New Customers Market share increase New Leads, Referrals and Impressions Non Financial Returns Brand Value Customer Engagement Customer Satisfaction Social Media ROI Metrics
- 42. Engagement and Reach • Facebook Insights • Linkedin page insights • Pinterest web Analytics Share of Voice(SOV) • Social mention • Radian6 Influence • Klout • PeerIndex • Kred Referral Traffic • Google Analytics • Social Reports Social Media Metrics Tools
- 44. Business Model Canvas 1. Value Proposition • High end leather goods for affordable prices 7. Key Partners • No supply partners – vertically integrated 2. Customer Segments • 22-35 M/F • Fashion Forward • Want high quality merchandise that is only 20% more costly than normal goods 4. Customer Relationships • Get customers by getting product into the fashion scene – shows etc. • Want to use social media to get, interact, and keep customers 8. Key Activities • Driving quality traffic to the website • Create an online community that can engage the consumer 3. Channels • For now just e- commerce 6. Key Resources • Web Domain • Quality product 5. Revenue Streams • E-comerce 9. Cost Structure • Manufacturing, website maintenance, social media outreach, marketing,