Volvo Digital Strategy
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Volvo's digital strategy aims to increase sales, market share, and brand awareness through an advertising campaign targeting family, mid-high income, and safety-focused car buyers. The campaign will use paid Google, Facebook, Twitter, and Instagram ads between December and March with keywords and social media pages/hashtags. It is estimated to cost $26.6 million to develop, run, and evaluate the campaign over 15 months. Volvo expects the campaign will successfully drive more traffic and clicks to their site.
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Volvo Digital Strategy
- 1. Volvo Digital Strategy Po-Heng, Huang A47092774
- 2. Goals: Main idea 1. Generate sales profit. 2. Increase market share 3. Increase brand awareness Idea : Launch an ad campaign to create values for consumers to consider Volvo as the first choice.
- 3. Target audience Family car buyers Mid, high income consumer Safety seeking car buyers
- 4. Ad campaign Paid Google ads Paid Ads on social media, i.e., Facebook, Twitter, Instagram
- 5. Google Ad words Strategy Keywords ( i.e., luxury cars, safety cars, family cars,) SEO (Search Engine Optimization) Social media Pages Hashtags
- 6. Timeline Developing the ad campaign- the previous year (September- November ) Launch the ad campaign to run- (December-March) Evaluate the measureable outcomes (August- September).
- 7. Budget
- 8. Budget analysis Google ad words Estimate costs: $29.3K (daily) Four months -$3.5M Facebook, Twitter, and Instagram- same budget as Google ad. Total for running ad campaign- $3.5M*4 =$14M Developing ad campaign- $9.8M (70% of $14M) Evaluation- $2.8M (20% of $14M) TOTAL: $14M+ $9.8M+ $2.8M= $26.6M
- 9. Measureable Outcome See the figure in the budget slide Estimate traffic (Google ad words): Clicks: 5.31K/ daily Four months 6.64M clicks
- 10. Conclusion With the planned strategy and timeline, we will anticipate a successful outcome.
Editor's Notes
- This campaign targets to generate sales profit, increase market share, increase brand awareness. The objective is to attract new car buyers to consider Volvo as their first choice.
- This ad campaign will be aiming towards parents with higher income than average, and who values safety more than others. The reason is because Volvo is considered as a luxury brand of car, which is comparatively more expensive than average. The other reason is that safety is the top feature that Volvo has been proud of.
- This ad campaign will be launched in paid Google ads, Ads and on social media, such as Facebook, Twitter and Instagram
- With the Google ad words, the ad campaign will use key words like, luxury cars, safety cars, family cars, which are the features of Volvo, and the target market of this campaign. When coming to talk about keyword, I would like to mention that adapting effective keywords is a very significant process for the brand to appear on search engine. The I idea of this method comes from the concept of SEO (Search Engine Optimization). Which is making the brand more visible and easily to find online. For social media, creaitng pages and hashtags are very popular, so besides having paid ads, the campaign can also work on the their pages to create interaction with cosumers.
- There are three main parts of the entire process, the first is developing the ad campaign in the September to November. To run the ad in the end of the year to the spring of the next year, from December to March. And finally evaluate the outcome in the last two months, August and September.
- Here is the figure of estimated costs and traffic of this ad campaign on Google ad words.
- The estimated costs on Google ad words is $29.3K per day, if we run it for four months, it would be four times of $29.3K equals to $3.5M. We would use the same budget as the Google for the three social media, Facebook, Twitter and Instagram. So it would be the four times of $3.5, equals to $14M. $14M is the total of running the ads. The developing process is set to be 70% of $14M, which is $9.8M. The evaluation process is set to be 20% of $14M, which is $2.8M The total of the three process would be $14M plus $9.8M plus $2.8M, equals to $26.6M .
- By see the figure, we can tell that the estimate traffic is 5.13K per day. So if we run the ads on Google for four months, the total clicks would be roughly around 6.64M. So this is showing that by observing the click rates is one of the primary method for us to see how effective this campaign is. And of course we also have to check the sales growth from Volvo to determine the overall outcomes of the campaign.