Boo.com was founded in the year 1998, it was a European company which was operating in its main office in London. The company was founded by three entrepreneurs from Sweden. Kajsa Leander, Ernest Malmsten and Partrik Hedelin. Leader and Malmsten had business experience in special publishing, initially, they had created specialist publisher and online Bookstore which they called Bokus.com, this company was rung the third largest in the world in e-retailer behind Barnes & Noble and Amazon (Ryan, 2016).
The company collapsed on May 2000 because the investor’s funds were not raised enough to meet the increasing marketing cost, wage bills, and high technology demands. This paper would explain various ways on how Boo.com failures would have been prevented (Rowley & Keegan, 2017).
Many business organizations struggle in choosing the kind of marketing to use, depending on the budget each and every organization have, the decision to be made are not so easy. ‘’ which method of marketing will give me most bang of my buck?’’ ‘’ How do I know the kind of marketing which is working?’’ ‘’ who should I trust in marketing?’’. These are the kind of questions that are always in mind for every business intending to market products or services (Jernigan, Padon, Ross & Borzekowski, 2017).
To illuminate the terms, the application of print materials such as ads in magazines and newspapers is an example of traditional means of marketing. On the other hand when a company use website or advertising products and services using social media such as Twitter, Facebook, or YouTube, the kind of marketing is known as Digital marketing ( Lui & Au,2017).2.1 Reasons why it would be important for Boo.com to invest in digital marketing
The company can target both local and international audience. Furthermore, the company can modify a campaign to certain demographics of the audience such as, the age, location gender and interests. The campaign for Boo.com will be more effective.
With the use of digital marketing the company’s audience would be able to choose varies ways of receiving the content, for instance others might choose to read on blogs, others may choose to stream from the YouTube. Unlike the traditional marketing whereby the audience does not have a choice, most of the audience receive sales flyers or phone calls at inappropriate time and the may not have little or no interest. The online guys are able to opt in and out of communications freely (Bampo, Ewing, Mather, Stewart & Wallace, 2010).
The interaction of customers would be made possible. With the application of networks for social media the communication is made fast, convenient and reliable unlike traditional marketing whereby it does not allow interaction with the clients. Boom.co would be able to encourage prospects, followers and clients to take an action, visit the company’s website, read about services and products offered, buy goods and services, rate the company and provide visible feedback to the company’s market ().
Digital marketing would be cost-efficient to the company. Though may invest on ads payable online, the cost of marketing would still be much cheaper than the traditional means.
The company’s data are safely recorded- by the use of insight tools and google analytics offered by most many channels of social media, the company would be able to monitor their campaigns at any given time.
Increase the company level of competition
With the use of digital marketing, Boo.com would be able to compete favourably with competitors irrespective of size with robust digital marketing strategy.
Brand development- If the website of boom.com is well maintained with high quality content which meet the needs of the clients it would lead to generation of opportunities and provide significant value to the company.
The speed of the website is the first impression for the company. It is crucial to know that the company would not have an excuse when it comes delivering fast and reliable user experience. If the website has low speed it’s a frustrating issue to the company and would turn most clients away (Quinton & Simkin, 2017).
The following are several ways in which website can be optimized:
Another method Boo.com can apply is hire a dedicated cloud server from Microsoft Azure, AWS, Google or any other cloud provider, this makes the website to be more
Faster especially if both dedicated server and Virtual Private Server are combine to form hybrid cloud.
The use of web fonts has become common in the design of web. Unfortunately if web fonts are used it have negative implication to the page load speed. Web fonts add many HTTP requests to outward resources. The following measures would help Boo.com to minimize font traffic on the web.
Ix. Detect and minimize 404 errors
404 error implies that the ‘page is not found ‘the message is given by the host to the browsers to the search engines when the content accessed does not exist. To detect and eliminate the error, the company may use plugins and the detection tools. As said earlier many plugins reduce the efficiency of the website. So I recommend the resource to be run over an external error detection tool. For example the company may use (GWT) Google Webmaster tool, Xenu’s Link Sleuth or Redirected Plugin.
Many of the people during that time had adopted the use of internet, many people in Landon in 1999 had started to get updated on business news via social media. There are four stages that I would have recommend boo.com to follow in order to develop a robust social media marketing. The stages are:
KPI is refers to ‘key Performance Indicator’ the goodness of digital marketing is that everything can be tracked very easily. If Boo.com could have used KPI the company could have monitor their progress very easily. The following are the key KPIs that the company could have adopted:
Pay Per Click is a way of utilizing search engine such as google to produce clicks to the company’s website somewhat earning the clicks occasionally. For a company could have set up PPC adverting in Bing ads or in Google AdWords by following the following steps:
Step 1: create login e.g. E-mail and password. One need to have Google AdWords account to do this
Step 2: Target a certain geographical region- the company would decide whether to do business locally or globally then choose the preferred location.
Step 3: Set daily budget- in the case of Google AdWords one need to decide how much to spend every day. The company would then pay if it receives a click.
Step 4: controlling the amount that is pend per click
Step 5: creation of ads
Step 6: selecting keywords- keywords are phrases for which the ad will appear one it is searched in the search engine.
Online display (& video) – this includes a promotional banner of any size or shape that is put on the website, Boo.com could have choose from the variety of banner formats including rich media, interactive ads and video.
The following are the steps I would recommend boo.com to set up online display (& video).
Step 1: Select objectives and KPIs – effective campaign are found by using a sound strategy, the first step the company could have taken is deciding on the goals, the calls may be for instance increasing the web traffic. The goals would thereafter monitored using KPI to determine viability (Kumar & Reinartz, 2018).
Step 2: define the target audience- this process is closely related to the campaign goals. The target audience are those that the company need to reach.
Step 3: purchasing of media- after finalizing on the objectives of the campaign the next step would be to buy a media. BOO.com could have bought their media from the following channels like Publishers, Ad networks advertising agencies and many more.
Step 4: Developing creative campaign – it is very important to think about how the products would be display to bring about positive impression. There are several display formats to choose from, for instance, Text, Image, video or Rich media ads
Step 5: monitoring and optimization- the interesting part of display marketing is that it is possible track the performance of the campaign.
Email is revenue driving machine if used effectively, it is a very powerful channel for marketing when it comes to return on investment on companies that have applied this strategy. I would recommend Boo.com the following ways to improve their email marketing strategy: (Tiago & Veríssimo, 2014).
Market ongoing analysis describes the current state or status of the target market. Hence, Boo.com could have cater information that are generated from analysis and research on the target market, customers , competitors and the challenges that are faced by the company.
The ongoing analysis would have helped boo.com to compare business data over time in order to determine whether the results are consistent or not, the company would have then develop a digital management strategy to respond to the trends in accordance to the objectives of the business (Smith, 2011).
Ongoing analysis would have help the management team for Boo.com to understand the performance of the business over time, this would have help the company to the outcome of their business operations. This would have given ideas on the changes that was necessary to be made to prevent further risks (Leeflang, Verhoef, Dahlström & Freundt, 2014).
The company could have employ the following ongoing analysis to help improve on their performance.
There are certain regulations that relate to digital marketing specifically. Any organizations that use digital marketing should keep abreast of growth in the area to make sure that it is complying with the rules and regulations (Wind, Sharp & Nelson, 2013).
SMS and Email marketing rules
The ‘Privacy and Electronic Communication Regulations’ have introduce an unsubscribe feature to all commercial emails, this means that a business organisation can only contact individuals who have agreed to receive emails alerts (Mackey & Liang, 2013).
Social media and website
The website should have registered address for the company according to the law. Business organizations should consider to include the website disclaimer for the web and terms and conditions (Weber, 2009).
The use of cookies as key performance indicators (KPI).
Cookies are text or files that remain on the browser of the computer. Cookies may be used to track user browsing partialities. According to the laws, all business must tell their clients that they are using cookies (Chester, 2007).
Conclusions
To summarise this report it has clearly shown that future marketing is highly depend on digital means. The digital marketing is not concern only to posting ads on the portal, it involves integrated channels and integrated services. Many companies seek to use varies components that has been discussed in the report to reach build their brands and reach the target groups (Chaffey & Ellis-Chadwick, 2010).
Digital media is mostly preferred by most marketers because it is the best platform where they are able to convert their product into a brand. Digital marketing is cost effective as compared to traditional marketing and it provides lots of touch points to the company. Digital marketing enables a company to engross their target segment in an effective and efficient way via digital platforms. The digital platforms enhance the influence of brand recall in the target groups (Blakeman, 2018).
I honesty trust and believe that this paper is the most useful to marketers to master the digital marketing and plan future strategies to avoid business failure that has been witnessed by Boo.com.
I conclude this report by quoting that ‘’ business organizations must pursue digital platform’’.
References
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Blakeman, R., 2018. Integrated marketing communication: creative strategy from idea to implementation. Rowman & Littlefield.
Chaffey, D. and Ellis-Chadwick, F., 2010. Digital marketing: implementation and practice.
Chester, J., 2007. Digital destiny: New media and the future of democracy. New Press.
Jernigan, D.H., Padon, A., Ross, C. and Borzekowski, D., 2017. Self?Reported Youth and Adult Exposure to Alcohol Marketing in Traditional and Digital Media: Results of a Pilot Survey. Alcoholism: clinical and experimental research, 41(3), pp.618-625.
Kannan, P.K., 2017. Digital marketing: A framework, review and research agenda. International Journal of Research in Marketing, 34(1), pp.22-45.
Kumar, V. and Reinartz, W., 2018. Customer relationship management: Concept, strategy, and tools. Springer.
Leeflang, P.S., Verhoef, P.C., Dahlström, P. and Freundt, T., 2014. Challenges and solutions for marketing in a digital era. European management journal, 32(1), pp.1-12.
Leppäniemi, M., Karjaluoto, H., Lehto, H. and Goman, A., 2010. Targeting young voters in a political campaign: Empirical insights into an interactive digital marketing campaign in the 2007 Finnish general election. Journal of Nonprofit & Public Sector Marketing, 22(1), pp.14-37.
Lui, R.W. and Au, C.H., 2017, December. Designing simulation games for information systems education—A case study in teaching for digital marketing. In Teaching, Assessment, and Learning for Engineering (TALE), 2017 IEEE 6th International Conference on (pp. 290-295). IEEE.
Mackey, T.K. and Liang, B.A., 2013. Pharmaceutical digital marketing and governance: illicit actors and challenges to global patient safety and public health. Globalization and health, 9(1), p.45.
Payne, A., Frow, P. and Eggert, A., 2017. The customer value proposition: evolution, development, and application in marketing. Journal of the Academy of Marketing Science, 45(4), pp.467-489.
Quinton, S. and Simkin, L., 2017. The digital journey: Reflected learnings and emerging challenges. International Journal of Management Reviews, 19(4), pp.455-472.
Rowley, J. and Keegan, B., 2017. Looking back, Going forward: the role and nature of systematic literature reviews in digital marketing: a meta-analysis.
Ryan, D., 2016. Understanding digital marketing: marketing strategies for engaging the digital generation. Kogan Page Publishers
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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 Veríssimo, J.M.C., 2014. Digital marketing and social media: Why bother?. Business Horizons, 57(6), pp.703-708.
Tiago, M.T.P.M.B. and Veríssimo, J.M.C., 2014. Digital marketing and social media: Why bother?. Business Horizons, 57(6), pp.703-708.
Weber, L., 2009. Marketing to the social web: How digital customer communities build your business. John Wiley & Sons.
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