2. Table of Contents
Five Strategic Questions:
1. Who are we?
2. What do we want to achieve?
3. Who are we talking to?
4. How will we communicate with this audience?
5. How will we measure our success?
3. Who are we?
https://www.youtube.com/watch?v=kYl5q8-I_CE
4. “Life is full of joy and sadness, and we
can all relate to its highs and lows. I
hope that Lokai will remind you to stay
balanced and centered along your
journey.”
–Steven Izen, founder of Lokai.
10. Thank you for listening, I’m
open to any questions you have
have at this time.
Editor's Notes
Answering these questions will give Lokai a solid step in the right direction in terms of digital marketing and branding.
Lokai is a lifestyle brand all about finding balance in your life. Having two beads representing the lowest and the highest point in the world, the bracelet brings these elements together to represents life’s cycle. The rest of the beads are clear to represent our own stories throughout life.
The founders of Lokai believe giving is key to Lokai’s message of balance. If you reach a peak, stay brounged by sharing your success. When you hit a low, gain perspective by helping others. When a bracelet is purchased, 10 percent of Lokai’s net profits are dedicated to giving back to society through their selected charitable alliances. The charities that they involve themselves with are: Charity Water, Cure Alzheimer’s Fund, Pencils of Promise, Music Beats Hearts, The American Himalayan Foundation, Bent on Learning, & the Kind Campaign.
Since being founded in 2013, sales of the Lokai bracelet have sky rocketed due to the amazing story behind it. When the company first launched, they only used word of mouth marketing. The passion driven behind Lokai is what made it become a well-known brand in over 88 countries and sold at 300 boutiques around the United States. Because the Lokai bracelet has such a strong impact on society and consumers who are buying it, my big idea for the next step is to create a new hash tag: “#WhyILiveLokai ”. This allows consumers to share their stories with the world and the Lokai team. Posting a tweet or a photo on Instragram, or any form of social media, with this hash tag will allow the consumer to share where Lokai has taken them in life, and how it’s helped them remember to always stay hopeful and stay humble.
In addition to the hash-tag, there will be a sweepstakes that goes along with this hash-tag. There will be a time span of when the sweepstakes will start and end. The Lokai team will collectively go through each person’s story and meaning behind why they “live lokai” and what Lokai has done to help better their lives. The winner of this sweepstakes will get to travel to a destination that will give them an experience of a lifetime. It could range from going with their team and collecting the water from Mt. Everest or another destination would be traveling to a third world country and see the impact of what Lokai has done for them when it comes to giving them safe and clean drinking water. Being an owner of a Lokai bracelet, you are a part of something so special. This sweepstakes would give consumers the ability to see how their purchase has impacted the world and can give them the potential to want to continue to help the world be a better place. The sweepstakes will occur for 2 weeks, I believe that’s a good time frame to give to consumers because it isn’t too short and it wouldn’t be very long to help the Lokai team with the large amount of posting coming in from their consumers.
The target audience for this strategy would be the consumers who have already purchased a Lokai bracelet and are passionate about the brand and the story behind it. The majority of consumers who buy this bracelet are pre-teens, & young adults. This strategy will show our target audience how much they truly mean to our company. Having the consumer share their stories will bring more depth and emotion to our brand. It’s very important to have a clear connection with Lokai’s target audience and creating this hashtag will improve the company’srelationship with its consumers to ensure they become lifelong buyers of future products.
Communication will mainly occur through social media. Lokai has a huge audience with popular social media sites: Instagram being the main form of media and twitter trailing behind at a close second. Lokai has 642k follwers on Instagram, and 39k on Twitter. With Instagram being the most effective, I believe a sweepstakes would be a great idea for Lokai to do because there are plenty of brands that do something similar to a sweepstakes. For example, giving out free product if they post the same picture and have the same comment. Social media connects companies directly to their consumer. What makes Lokai unique is that they allow consumer interaction to show where Lokai has taken them in the world. When consumers tag Lokai in their posts, it could then be featured on their social media pages. This is a huge incentive for consumers by reciprocity , they can be featured by one of their favorite brands by doing something so simple. Reciprocity is a huge incentive for consumers, knowing that they can be featured.
In terms of measuring success, Lokai will need to keep track of sales that are flowing in. They also need to track Instagram and twitter posts, and ensure they interact with their consumers by liking their posts and/or commenting on really great photography that represents the company’s mission. Keeping track of the buzz of their product on social media will be key to their success because social media is the root of Lokai’s marketing success.. When it comes to budget, Lokai needs to spend a great deal of their money to ensure that this strategy is successful. The average digital strategy budget starts roughly around $147,899 . For brand’s digital strategy to be effective, the company needs to have accurate data and a deep understanding of their consumer. The budget is important because Lokai needs to ensure that their strategy is based on facts, data, and a full understanding of consumers. However, when the strategy completes theses goals and the company soars to new heights because of this plan, it then becomes priceless.
