Digital Marketing Plan for Moonpig: SWOT Analysis and Buyer Persona
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This report provides a digital marketing plan for Moonpig based on SWOT analysis and buyer persona. It includes recommendations on how to enhance sales and reach their SMART objectives.
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Table of Contents INTRODUCTION...........................................................................................................................3 Analysis of the organisation.............................................................................................................3 plan out of the SWOT analysis........................................................................................................7 Conclusion.....................................................................................................................................12 REFERENCES..............................................................................................................................13
INTRODUCTION Digital analytics is the marketing concept that is used for the purpose of analysing the market. In the changing scenario there is a shift of people towards more online purchasing as compared to physical stores. Digital marketing strategies have emerged to be as one of the most attractive platforms that can assist in having interaction with the target segment of customers. Moonpig is a Internet based business and its head offices are present in Guernsey and London. The organisation is working towards selling of flowers, gifts and greeting cards. They are listed on stock exchange and constituent of FTSE 250 Index(Chaffey and Ellis-Chadwick, 2019). The organisation is present willing to analyse the external environment so that they are able to formulate strategies that can contribute towards enhancing the marketing and promotional activities of this organisation. Present report is based on analysing the way external environment is affecting the present business scenario. Based on it there is preparation of digital marketing plan that can assist in the process of achieving the SMART business objectives. Analysis of the organisation For the purpose of making analysis of the external macro environment there is need to evaluate the requirements of organisation. For this purpose there is need of PESTLE analysis as mentioned below: Political factors:political instability may posses a consequence on the functioning of organisations. The present brexit scenario has posed a impact as the UK imports may lead to effect on the functioning of organisations(Hanlon,2018). The trading relations of UK with European union may also lead to hike in the price of clothing items. Moonpig will be affected by the increasing uncertainty that may lead to difficulty in decisions. Economic factors:In the present scenario there are economic factors that includes personal disposable income of people are declining because of the global lock-downs. When there is reduction in the purchasing power of people there preference shift very fast toward essential products and they are no longer willing to spend their limited part of income towards fashion related products.
Social factors:The overall preferences of people are changing very fast they are shifting their choices very frequently(Fawaid, 2017). Moonpig is having a very attractive opportunity for their market expansion as they can approach the target segment of customers. Technological factors:There is a technology shift that has resulted into preferences to online purchasing. With the present spread of COVID 19 virus customers are willing to fulfil their demands from various online e commerce sites(Deissand Henneberry, 2020). Moonpig is a online retail brand that is offering high amount of customised services. Legal factors:There are some of the legal laws and factors that have to be properly adhered. There are many different laws that are related to labour, inflation, import and export restrictions,. Taxation laws that have to be adhered in order to have proper adherence to such legal regulations that are formed by concerned authorities. It includes health and safety act, anti discrimination laws that are to be taken into consideration. While having digital marketing strategies there are some other laws such as data protection act that has to be also followed by Moonpig. Environment factors:It includes the various external factors that are affecting the present functioning of organisation. Moonpig as a online retail store is willing to offer products through online medium. The brand is willing to ensure that they are not using plastic or any such substance that may posses harm to the external environment(Robul, 2020). For this purpose the organisation is willing to manage the use of paper and other resources in such a way that they are not harming the natural resources in any form. From the above made analysis it is clearly indicated that Moonpig as a online store is having a opportunity of expansion of their present market share by using of digital marketing Strategy. The present situation of COVID 19 has also resulted into shifting of people preference towards more online purchasing. This opportunity can be availed through creation of a digital marketing plan that can assist to manage their present sales.
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Discuss the Buyer Persona for the company using the Buyer Persona Spring The term buyers persona is defined as the detailed analysis on a particular individual who clearly represent the whole target customers of the business organisation. It is basically the researchedbasedportfoliothatrepresentaparticulartargetcustomers,ithelpsbusiness organisation to analyse their loyal customers and their overall buying journey(Arjana, 2020). The buyers persona spring is one of the essentials concept used by the business organisation in order to drive their business towards continuous growth and success. It mainly consist on various factors like organisation, the buyers persona and the main three strategies in between such as channels, content and the data.In case of Moonpig company the buyers persona with the helps of buyers persona spring is highlighted below: Organisation:Moonpig is one of the well established internetbased organisation headquartered in London, England, United Kingdom. The company offers personalised greeting cards, flowers and gifts to their target customers across UK. The company was founded by Nick Jenkins with the main aim of satisfying the personalised needs and wants of their target customers. Company offers online services in order to fulfil the needs of the customers and enhance their performance in the marketplace(Dilek, 2018). Channels:The channel strategy is includes the various medium used by the consumers and the target customers of the company. In case of the Moonpig the company mainly target the millennials group of consumers. And in order to attract and retain them for long period time the various social media channels are used by the company. The various social media channels used by company includes Instagram and Facebook because these channels has large number of millennials users which makes it easy for the company to attract them and directly connect with them(Guptaand Sahoo, 2021).
Content: In case of content strategy, it includes the images or the attractive content used in order to engage the target audience and also make them aware of the company's product and services. In case of the chosen company, they will be sharing the attractive images of their personalised products on the various social media channels in order to attract their target audience. Data:In case of data startegy, the data will be collected regarding the target customer in order to analyse the buyers persona effectively. The chosen company will be using real time data with the help of google analytics in order to collect the required information about the target customers. This will help the company to analyse and get a proper insight about the buyer persona which includes the mainly the millennials(Lyubenov, 2018). Buyers Persona:It is one of the essentials framework used by the business organisation in order to analyse a particular buyer who clearly represent the whole group. With the help of above strategy the chosen company can effectively develop the buyer persona. The company is mainly focusing on millennials group in order to develop their buyers persona. Assess a SWOT analysis using the above information SWOT analysis:It is one of the most essential strategic framework undertaken by the business organisation in order to analyse the strength and weakness of the company and also the various opportunities and threats available to them. It also helps the company to analyse their competitive position and frame strategic direction effectively(Perlman, 2018). In case of Moonpig, which is offering personalised greeting cards, flowers and gifts to their target customers, the swot analysis of the company is mentioned below: StrengthWeakness Oneofthegreateststrengthofthe company is that it is the major player in theUKpersonalisedgreetingcard marketplace,offeringpersonalised cards and gifts. Moonpig is covering almost 90% of the online greeting cards market across UK Company has strong brand image in the Oneofthemajorweaknessofthe company is that it company deal in the limited product line. Another weakness of the company is that is offering products across the UK market only. Moonpigalsodealinofferingonly personalisedproductandservicesto
marketplacewithlargenumberof satisfied customers base. The main strength of moonpig is the customisation process that is offered. They are dealing with a wide range of personalised gifts, flowers, chocolates and champagnes. They are delivering 45m in year 2020 in UK. theirtargetcustomers,customers doesn't get more options in the product. For moonpig initially the sales were difficultbecauseofthecollapseof dotcom bubble that has proven to be real success story of era. This site has startedofferingpersonalisedgreeting cardthatisfeaturingcustomised messagesbyownphotosofuser (GunawanandSulaeman,2020).In some economic conditions growth and progress was difficult because of the economic conditions but moonpig has been benefited from the word of moth messages that have spread effectively and sales have been enhanced steadily. The brand has successfully managed to reach 2.5 million of customers till year 2009. OpportunitiesThreat Expansionofbusinessintothenew marketplace will offer wide range of opportunities to the business Another opportunities can be expansion innewproductlineforthechosen company. Advancementinthetechnologywill help in creating new opportunities for the company. IncaseofMoonpigtheincreasing numberofcompetitorswillcreate potential threat for the company. Continuous change taste and preference of the company's target customers will also create threat for the company. Political and economical instability will alsocreatethreatforthechosen company(Yaraddi, 2019).
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plan out of the SWOT analysis SMART objectives: 1.To enhance the sales in coming time period between£250m and £260m. 2.To reach 1.5 million readers across 180 countries are willing to support financially by being fiercely independent. STP analysis: Segmentation: In the present digital marketing strategy of Moonpig there is segmentation of market where the customers are divided based on age, gender, occupation, social class. Such as age includes the mainly customers who are of age group 18-30 years, gender is not specific both male & female are targetted, marital status is not a specific factor as both married and unmarried people are target segment of moonpig(Thomas and Housden, 2017). Education is not a relevant aspect for the target segment of Moonpig. But the main focus is on millennial generation that is willing to enhance their present market share. Targetting:the selection of potential customers are the business willing to sell its product and services(Hemsley, 2018). The targetting strategy of Moonpig involves targetting the market segment that is created based on the present product categories. Positioning: Moonpig as a online available brand can focus on creation of a differentiation position in the market by using their customisation feature.
Creation of buyer persona: Buyer persona is a detailed description of the way target audience has to be represented. It is a fictional of the potential customers(rajnović, Sikirić, and Bosna,2018). Presently for moonpig there is development of a buyer persona that is to be developed based on the above made analysis. In this process different characteristic associated with the target segment of buyers have to be analysed and evaluated to understand its long term impact on the sales. The below mentioned buyer persona is based on a particular customer who belongs to the target segment of customers of Moonpig. Buyer persona Personal information: Profile: Xyz Age:25 years Gender:female Hobbies:dancing,signing, playing hockey Location:London: Interests:signing,dancing and travelling Challenges: Not able to fulfilthe need for customised products for gifting purposes. It includes flowers, chocolates, greeting cards. Difficultyingettingonline availability of options. No option of home delivery. How can we help: There will be offering of wide rangeofproductssothat requirementforcustomised products can be fulfilled. Purchase behaviour: Willing to have more focus on conveniencebuyingthatcan offer higher flexibility in the course of purchasing. Havingregularfollowingof various social media platforms to get best deals in order to fulfilherrequirementof customised gifting products. How can you help: customisedproductof moonpigcanhelpinthe processoffulfillingthe particularrequirementsof customer. There will be faster delivery optionthatwillbeordered along with no extra delivery charges, apart from this, there will be offering of packaging facilitieswithsome Benefits of products: Moonpig as a online available platformisorderinglarge variety of customised product options that are available to the targetsegmentof customers. Theyarewillingtodevelop large number of options along withcustomisablefeature associatedwith each product that can easily be modified as perspecificclient
customised features to make it moreattractiveforthe purchaser. requirements.Generallyitis basedonthetime,occasion andthepersonalityofthe persontowhomitistobe gifted. Digital marketing strategy: Moonpig is willing to expand its market share by using digital marketing strategy where different social media platforms will be adopted for the purpose of approaching and communicating with target customer base. For this instagram, snapchat and facebook will be used as the most effective platforms to approach customers.
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Clear strategic recommendations: Based on the above made analysis there are some of the recommendations that have been drawn for Moonpig so that they are able to enhance their present market share and achieve the objectives that are laid in the present marketing plan: for the purpose of managing the customer proposition there is need to enhance the gifting range and cards by development of more delivering options than ever before. There is need to focus on long term growth opportunity by enhancing the gifting market offline for the purpose of capturing the growth. In the present scenario till April there is enhancement of the revenue that rise by 113 percent to 368 million pounds that is a result of people willing to shop more often and there can be targetting of new customers. There are some of the key selling points of moonpig that can be used as part of their keys strategy to expand their present market share. Such as it includes large range of gifts and cards, there are highly customisable products for bespoke gifts, there is availability of fast delivery options that are available for last minute purchase and there is coverage available in several countries that leads to large reach towards large customer market. It is suggested that in the present digital marketing strategy moonpig can work towards sharing of the experiences of their customers personally on their website. For instance valentines day moonpig's website can depict the way they are helping their customer to make the day different for their special ones. These real life experiences can help in approaching a new customer base. Further it is recommended thatPresently Moonpig has a opportunity to plan their stock market facilitation after the covid pandemic they are willing to manage their profit and sales. The brand owned since 2016 by private equity firm exponent may announce their intention to list as early as next week. The organisation is willing to trade in Netherlands is believed to target the evaluation in excess of 1 billion pounds.
Conclusion From the above made analysis it is conclude that digital marketing strategy is very important for organisations that can help in enhancing the present market share. With the changing customer requirement customisation of products is very important for the purpose of attracting and creation of a differentiation positioning in the market. For this purpose digital marketing strategy can be very helpful to approach new target customer base.
REFERENCES Books and Journals Chaffey, D. and Ellis-Chadwick, F., 2019.Digital marketing. Pearson uk. Hanlon, A., 2018.Digital marketing: Strategic planning & integration. Sage. Deiss, R. and Henneberry, R., 2020.Digital marketing for Dummies. John Wiley & Sons. Robul, Y., 2020. Structure and Constituents of Digital Marketing Systems.Olsztyn Economic Journal,15(1), pp.53-62. Gunawan, G.G. and Sulaeman, M., 2020. Determining Factors in the Use of Digital Marketing andItsEffectonMarketingPerformanceintheCreativeIndustriesin Tasikmalaya.BudapestInternationalResearchandCriticsInstitute(BIRCI-Journal): Humanities and Social Sciences,3(3), pp.2543-2550. Thomas, B. and Housden, M., 2017.Direct and digital marketing in practice. Bloomsbury Publishing. Krajnović,A.,Sikirić,D.andBosna,J.,2018.Digitalmarketingandbehavioral economics.CroDiM: International Journal of Marketing Science,1(1), pp.33-46. Fawaid, A., 2017. Pengaruh digital marketing system, terhadap daya saing penjualan susu kambing etawa.IQTISHADIA: Jurnal Ekonomi dan Perbankan Syariah,4(1), pp.104-119. Hemsley, M., 2018. Why the General Data Protection Regulation is likely to disrupt core digital marketing channels in Europe.Journal of Digital & Social Media Marketing,6(2), pp.137- 142. Arjana, S.R., 2020.Buying Buddha, selling Rumi: Orientalism and the mystical marketplace. Simon and Schuster. Dilek, S., 2018. Virtual reality or just reality? A SWOT analysis of the tourism industry.Journal of Tourismology,4(1), pp.67-74. Gupta, B.B. and Sahoo, S.R., 2021.Online social networks security: principles, algorithm, applications, and perspectives. CRC Press. Lyubenov,L.,2018.SWOTanalysisoftheBulgarianbeekeeping.JournalofMountain Agriculture on the Balkans,21(4), pp.50-72. Perlman, H.H., 2018.Persona: Social role and personality. University of Chicago Press. Yaraddi, R., 2019.Advanced Swot Analysis of E Commerce Startups in Karnataka State. Educreation Publishing. Online Moonpig, 2020 [online], Available through<https://www.bluearray.co.uk/portfolio/moonpig/> Moonpigshares:notcheapbutaveryinterestingbusiness,2020[online],Available through<https://www.sharesmagazine.co.uk/article/moonpig-shares-not-cheap-but-a-very- interesting-business>
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