Digital Marketing is actually a stepwise process for the marketing of various products in local as well as international markets. This method covers a huge area as compared to offline promotional or traditional marketing approaches. This report will focus on the digital marketing promotion strategies of Spacer Company (Tiago and Verissimo, 2014). Along with promotional strategies, it is also important to focus on customers’ insight, reach, market trends and handling with present rivals in the market. To explore digital marketing strategies for the Spacer, RACE framework will be applied in this report. Spacer Company is actually a marketing place where individuals are allowed to rent out their extra space of home or yards. This company was founded by Michael Rosenbaum and is in aim of expanding their business in many countries of the world. The reason behind this company operation was that many people have enough space in their homes or yards but they are not aware of how to use that space and this issue has given birth to Spacer Company. For expanding this business only digital promotion can help to reach its maximum height (Taken Smith, 2012).
For Spacer, the marketplace is an online-rental platform through they can provide number space for the business purpose to satisfy the needs of the customers. It is actually an online service on which the home or yard owner can provide their extra space as per the need of the customer (Smith, 2011). For expanding their business management team is working on traditional marketing techniques to bring awareness to the public. This objective can be influenced by some marketplace elements like a market trends market trend, competitors and customer insight.
This element actually defines the present conditions of the market in numerous terms and aspects like financial, technical etc. It also focuses on the market environment and this situation is helpful in order to carry out analysis, develop correct strategies for the expansion of the Spacer Company. Marketing trend actually helps every organization to select correct strategies in order to make the organization sustainable in this vibrant business market (Varadarajan and Yadav, 2009). Hence the Spacer Company must develop to handle this situation. As it is known to everyone that need is the reason for innovation, the company must use some innovative strategy to meet the demand of the customers.
As we know due to globalization the number of business player has been increasing in the market. Presently there are numerous possibilities that people are thinking in the same. In order to avoid this situation, the Spacer Company must form a unique image in the mind of their potential customers for their quality services because it is only the service part where the company can make differ from other competitors (Wymbs, 2011). As it is known that today is the time of social media so the company can make use of this platform to promote their services in order to catch the eyes of the target audience. This kind of digital promotion will help the company in achieving cost-efficient marketing operation.
It is known as the changing behaviour of customers in terms of altering trend, market situation, taste and preferences of the customers. If any person in this world will go on consuming one product, then soon that person will start developing a hatred for that product which is a kind of human nature (Chaffey and Patron, 2012). Since customer act as the most impact full part of the business, the Spacer management must form such a strategy which should be related with the current and future insights of the potential customers.
It is actually the way by which the spacer company will be able to reach to its potential customers for their services or new launches related to services and also can be used in spreading information related to latest offerings about the services. In present digital marketing is used as an international trend for promotions because of its powerful impact. Various e-commerce companies have used this platform for the promotion of their new products (Zott and Amit, 2008). With the help of digital marketing, the Spacer Company will be able to also cover some of the aspects which were not covered in traditional marketing. Hence, the management of the spacer company will work on the RACE framework as a strategy to achieve their purpose. Under this framework the all the important elements are reached to the customers, acts as per the formation of strategy, the transformation of selected target audience into lead and then finally engagement process is started with the audience (Jayaram, Manrai and Manrai, 2015).
In this process, the marketing team will promote their service with the help of digital marketing in order to reach to their customers by providing them some offers along with an explanation of their quality services. It has been seen that many big retail companies use this frame to gain most of the popularity in the business market (Berthon et. al., 2012). The digital marketing will offer various tools like search engine optimization that will help the company to maintain their position in the first page of the Google search. The Spacer can also make use of YouTube ads which will get display while watching any videos on YouTube which cannot be skipped up to 25 seconds. As it is known that video has more impact on the human mind as compared to listening. Hence, this will develop a kind of excitation in the mind of the person watching the video and will go for a try. The company can also make use of email as well as contacts which will be given by the person during their visit to the company website. In this, the company can send some notifications related to the latest offering of the company on these points of contacts.
In this, Spacer company can make use of all digital tools which will influence the potential customer to by their services because of the attractive offers displayed by the company through their contact points like emails, mobile numbers etc. The company must launch their membership offer in which the company will provide exciting gifts to their customers like some kind of discount or benefits (Aaker, 2015). The company can also implement some kind of earning by recommending another person to joint Spacer service.
This stage includes conversation part of the process in which lead which is being generated with the assistance of first and second phase into sales in order to earn some return with respect to spending. This transformation is not an easy subject for any company; it requires a lot of efforts from all team members (Assimakopoulos et. al., 2017). The Spacer Company can make use of promotion campaigns and offers through their online sites. Many retail companies provide the heavy discount on their products in order to convert the lead into sales or it can be said that potential customers get converted into loyal customers. The company can make use of offer like providing varieties along with one day try to offer in which customer can actually get an idea whether this space is better selection or they are expecting something different. In this, the company must try to fulfill all the feasible demands of the customer in order to make them feel proud of their selection (Aswani et. al., 2018). In addition, the customer will be given a full customer care support in which all the queries of the customer which are related to the service will be solved on immediate basis.
In this stage, the company will try to find out the ways to retain their customers for further sales. Space Company must act as a customer-centric company which will provide various benefits to its customers which will motivate the customer to remain associated with this company. The company must form a strong bond of relationship with the customer by providing quality service in order to make them feel the king of this world (Lucius and Hanson, 2016). Their attitude will help the company to grow from their current position towards the higher side. The company must implement a system which will support flexible aspects and will be ready to adopt any situation.
In order to target huge audience, Spacer company must go for digital marketing campaign under which the company will develop an event in which invitation which will send to various target audience especially student as well as small business owners (Keinanen and Kuivalainen, 2015). As per many types of research, it has been found that around 47% of this world’s population is connected with the social media and hence it is one of the important aspects where the company can display their quality service for those who are in need of this service (Adam, 2016). The company must connect one of the famous personalities as the chief guest of this event. In this way, the company will be able to attract a lot of crowd for this event due to the fan following of these stars. In the country like Australia the people are very crazy about cricket plays so the company can take proper benefit of their popularity and connect them with an event of this company (Kane et. al., 2015). Then the company must promote all the images and videos of this event on almost all social sites like Facebook, Instagram etc. The company must start with a teaser video in which it will display about the attractive portion of these events like famous personality, crows, shows etc on YouTube. They should make use of YouTube for full video display of this event in order to gain as many likes as they can and then related it with the company sites so that when a person visit any social platform to see this video or images of this event, they have to go through the companies site. In this way, the company will be able to create an image in the mind of this visitor through companies site encounters (Oliveira and Panyik, 2015). The company can also make use of PPC to increase their impact on the mind of social viewers.
For any kind of promotion, it is very important for any organization to understand the exact need of domestic and internal customers. In case of international aspect, the company must focus on the branding section of the company so that their logo will be identified as their quality service and in case of the international or local market the company must focus on the initiatives which will help the company to have a vast reach in the business market. The company must connect their business operation with the culture and values of the respected market in which they are performing their business. The company must be able to connect a social-emotional bond with the potential customers in order to connect them with the company. Finally, the company must provide such a quality service so that the person who is availing their service must act as an advocacy marketer for this company and always have a positive word of mouth which will help the company to form a unique identity in this dynamic business environment. Company’s positive image in the society will help the company to attain more and more sales not only in the domestic level but also on an international platform.
Conclusion
Every organization in this current world must possess some kind of competency in order to sustain in this dynamic world because in this time it has become very difficult to find out the exact expectation of the potential customers. Due to globalization, the lifestyle of the individual has changed and this change has also impact on the taste and preferences relating to the products and services. Hence in this vibrant environment, the Spacer Company must use digital marketing strategy as an important tool like social media in order to gain the major share of the business market in their segment. The use of RACE framework will act as an important strategy which will help the company in expanding their business on the international platform.
|
Timeframe |
Budget |
Activity |
Impact |
|
6 Months |
($ 30,000) |
Digital Campaign for international market presence: In this activity the company will make use of digital marketing promotion with the help of all digital tools like Facebook, Instragram, YouTube etc. |
This will help the company to make its company known to international business market and gain popularity. |
|
Every 6 months |
( $ 20,500) |
Connect with local social community: In this the company can associate them with local social working community by providing some kind of technical and money support. |
This activity will help the company in gaining better image in the eyes of the community in which company is working by giving impression that we do care for our community. |
References
Aaker, D. (2015) Four ways digital works to build brands and relationships. Journal of Brand Strategy, 4(1), pp.37-48.
Adam. T (2016) 47 percentage of the world’s population now use the internet [online]. Available from: https://www.washingtonpost.com/news/worldviews/wp/2016/11/22/47-percent-of-the-worlds-population-now-use-the-internet-users-study-says/?noredirect=on&utm_term=.ed3b349c8c6d [Accessed 11/10/18].
Assimakopoulos, C., Antoniadis, I., Kayas, O.G. and Dvizac, D. (2017) Effective social media marketing strategy: Facebook as an opportunity for universities. International Journal of Retail & Distribution Management, 45(5), pp.532-549.
Aswani, R., Kar, A.K., Ilavarasan, P.V. and Dwivedi, Y.K. (2018) Search engine marketing is not all gold: insights from Twitter and SEOClerks. International Journal of Information Management, 38(1), pp.107-116.
Berthon, P.R., Pitt, L.F., Plangger, K. and Shapiro, D. (2012) Marketing meets Web 2.0, social media, and creative consumers: Implications for international marketing strategy. Business horizons, 55(3), pp.261-271.
Chaffey, D. and Patron, M. (2012) From web analytics to digital marketing optimization: Increasing the commercial value of digital analytics. Journal of Direct, Data and Digital Marketing Practice, 14(1), pp.30-45.
Jayaram, D., Manrai, A.K. and Manrai, L.A. (2015) Effective use of marketing technology in Eastern Europe: Web analytics, social media, customer analytics, digital campaigns and mobile applications. Journal of Economics, Finance and Administrative Science, 20(39), pp.118-132.
Kane, G.C., Palmer, D., Phillips, A.N., Kiron, D. and Buckley, N. (2015) Strategy, not technology, drives digital transformation. MIT Sloan Management Review and Deloitte University Press, 14, pp.1-25.
Keinanen, H. and Kuivalainen, O. (2015) Antecedents of social media B2B use in industrial marketing context: customers’ view. Journal of Business & Industrial Marketing, 30(6), pp.711-722.
Lucius, H.W. and Hanson, J.H. (2016) Consumerism and Marketing in the Digital Age. American Journal of Management, 16(3), p.41.
Oliveira, E. and Panyik, E. (2015) Content, context and co-creation: Digital challenges in destination branding with references to Portugal as a tourist destination. Journal of Vacation Marketing, 21(1), pp.53-74.
Smith, K.T. (2011) Digital marketing strategies that Millennials find appealing, motivating, or just annoying. Journal of Strategic Marketing, 19(6), pp.489-499.
Taken Smith, K. (2012) Longitudinal study of digital marketing strategies targeting Millennials. Journal of Consumer Marketing, 29(2), pp.86-92.
Tiago, M.T.P.M.B. and Verissimo, J.M.C. (2014) Digital marketing and social media: Why bother? Business Horizons, 57(6), pp.703-708.
Varadarajan, R. and Yadav, M.S. (2009) Marketing strategy in an internet-enabled environment: a retrospective on the first ten years of JIM and a prospective on the next ten years. Journal of Interactive Marketing, 23(1), pp.11-22.
Wymbs, C. (2011) Digital marketing: The time for a new “academic major” has arrived. Journal of Marketing Education, 33(1), pp.93-106.
Zott, C. and Amit, R. (2008) The fit between product market strategy and business model: implications for firm performance. Strategic management journal, 29(1), pp.1-26.
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