This report discusses the importance of digital marketing and its impact on a company's performance. It explores the SOSTAC model and provides a case study on Debenhams. The report also outlines a multichannel digital marketing strategy for the company.
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Strategic Digital Marketing Report
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Executive Summary Digital Marketing is one of the advance concept of marketing the product and services among the maximum number of customers. File discusses about the different factor which can affect the company through which it can be understood that how plans and policies related to digital marketing is required to be made. SOSTAC model carries the information about the adoption of technology where concept of digital marketing mix has an important role. In order to identify about the performance of a company, KPI has been used within the file.
Table of Contents INTRODUCTION......................................................................................................................3 MAIN BODY.............................................................................................................................3 Conduct situation analysis for digital marketing including micro and macro environment and provide systematic review of the environment. Then apply the digital business model canvas (BMC)........................................................................................................................3 2)Apply SOSTAC model to develop successful digital marketing strategy and outline implementation plans with specific focus on digital marketing mix.....................................6 3)Develop a multichannel digital marketing strategy and explain in detail how your company can/must exploit these channels based on its strength identified through first two tasks........................................................................................................................................8 4)DefineyourKPIsforeachonlinechannel/activitybasedonyourmainbusiness objectives and your BMC.......................................................................................................8 5)Impact assessment on the business as a whole...................................................................9 CONCLUSION..........................................................................................................................9 REFERENCES.........................................................................................................................10
INTRODUCTION Digital Marketing is explained as the process marketing which depends upon the online based digital technologies for the purpose of promoting company and their products and services. It is necessary in current scenario because it simply allows to attract more of customers through which can be increased and tough competition can be given within the market. In context of the file the chosen organisation isDebenhams which is a British Multinational retail sector organization. Company was founded in the year 1778 by William Clark whereas its headquarter is in Oxford Street, London, UK. It is one of the company which is looks for B2B and B2C form of business and able to deal successfully since long time period. The vision of a company is to become a leading international, multi-channel brand(Atwong, 2015). On the other side, the mission of a company is to inspire the world and trying to bring changes in shopping style in the world. In context of the file, concept related to digital marketing will be explained and how any of the business organization is required to tackle within any of the situation. Along with this, different models will be explained and decision will be based on analysis on internal and external factor which can influence the company. MAIN BODY Conduct situation analysis for digital marketing including micro and macro environment and provide systematic review of the environment. Then apply the digital business model canvas (BMC) In present scenario, role of digital marketing in increasing day by day which has been very effective for both customers as well as for companies. It is because number of options are made available for the customers through which they can easily decide about the product for which they willing to buy. In context of Debenhams, concept of digital marketing can be effective for them because it will simply uplift their sales and it can provide the platform to reach out the maximum number of customers(Boelsen-Robinson, Backholer and Peeters, 2015). But, before entering into digital marketing world, it is necessary to understand about the internal and external factor that can influence the organisation. SWOT Analysis:It is strategic planning technique which allows the organisation to determine about their internal position of the company. This model can provide the way to improve the performance of a company through which goals can be accomplished. In context
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of Debenhams, their digital marketing manager and team can decide and analyse that how they are required to take any of the future decision. StrengthWeaknesses Debenhamsisamongoneofthe organisationwhichhavealready covered huge market share. Developing their channels with the help of involving in partnership. Companyhaveweakermarket position within the premises of UK. Store sales are decreasing for them which is reducing profit for them. OpportunityThreats Developmentcanbedoneinthe field of digital market. Entering new market with the help of technology. Expenses are increases which may lead to shut down many of its store. Enhancement of competition. Evaluation of SWOT Analysis:The above SWOT analysis shows that company has been struggling to sustain within the market because of its physical store which are reducing its overall profit(Karjaluoto, Ulkuniemi and Mustonen, 2015). It will be important for the company to take the help of digital marketing and online store to increase its profit. PEST Analysis:This is explained as the analytical tool for any of the business organisation which deals in external area due to which organisation can be affected. If any of the entity can find that area which can affected them then better decision can be taken for better result. In context of Debenhams, they are one of the organisation which is looking to explore their business through digital marketing as it can allow them to take competitive advantage from the market. Below, there is the detail analysis of the model. Political Factor:It is the factor which is related with the government decision, rules and regulations which may create issues or provide benefit to the organisation in attaining their targets in specific time period. In context of Debenhams, they can be benefitted from this particular external factor, because lots of positive decision has been taken by the government where they promote the concept of digital marketing. Economic Factor:This factor connects within economic trends, impacts of taxes, inflation and many more. In terms of Debenhams, they are among the organisation where government of UK and even other nation is allowing to sell their products
through the source of online at a very law taxes which is one of the positive sign for the digital marketing manager of the company(Dodson, 2016). Social Factor:In this full rapid changes environment, people have very less time because of their busy schedule, they prefer those actions and decision which can save their time. In context of Debenhams, the concept of digital market can be effective as it is one of the time saving process and even people will get the idea about their preferences even by seating at any place. In short, customers are showing their preferences in the field of online purchasing which can be effective for them. Technological Factor:The modern world is full of technology were they likes to see more use of technologies which can making their work easy and faster. As company like Debenhams deals in retail sector they can be helpful with the help of new technologies(Chaffey and Smith, 2017). Technologies like digital marketing and online marketing can allow the customers to show their preference towards the organisation which will directly allow them to accomplish their goals. Evaluation of external factor:In context of Debenhams, there is a great positive sign for them from external factor because there is very less chances that any of the external factor will create issues for them at the time of entering into the concept of digital marketing. Even it will allow them to reach maximum number of customers at a very short time of duration. Business Model Canvas:It is explained as strategic management and lean start-up template which allow the organisation to develop its documents for its business model. It is a visual chart which will show about the product value proposition, infrastructure, customers and many more related to Debenhams which is planning to develop themselves in digital field. Designed for:Designed by: Date: 28th April Version: Business Model CanvasDebenhamsPvt. Ltd DigitalMarketing Manager Key PartnersKey Activities Value Propositions Customer Relationships Customer Segments Facebook Instagram Google andmany Focusingon the requirement ofa Conceptof Digital Marketing for them for the purposeof Differentservices willbeprovidedto customers for making theironline It will mainly focus towardstheage groupof18to55 yearsofageof
more.customer’s sothattheir needs can be fulfilled. purchasingthe productthrough onlinemeans (Juska, 2017). experience better and effective. Self-service Personal Assistance Automated Servicesand many more. people.Also company will focus on mass marketing. Key Resources Channels Digital Marketing Team, Customers, Key partners, employees andmany more Paid Search Content Marketing SocialMediaand many more. Cost StructureRevenue Streams Investingforthetraininganddevelopment program of the employees. Investing capital with key partners for effective promotion Other paid promotion. 2)Apply SOSTAC model to develop successful digital marketing strategy and outline implementation plans with specific focus on digital marketing mix SOSTAC Model stands for Situation, Objective, Strategy, Tactics, Actions and Control. It is one of the planning model which is allows the business organisation to take growth in the market through digital technologies. In context of Debenhams, it is one of the most effective model for them at the time when they are planning to enter into the new market. Below, there is the detail explanation about the model.
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Specific:It is the primary stage in the model where it is necessary for the organisation that where they stand in present scenario. Looking at scenario, it can be said that company like Debenhams has been performing well but still there are some of the area where they are needed to work because customers within their physical store are decreasing at a regular interval. Objective:It is that respective stage within the model which simply says that objective is required to be set by the organisation in order to take competitive advantage from the market(Kannan, 2017). In context of Debenhams, their digital marketingmanagerisrequiredtodeterminewhatcanbethemainsourceof expanding their business. Here, manager can focus towards the area which they will mainly target for attracting more customers towards the organisation. Strategy:In this particular strategy, it is essential for the digital marketing manager to decide how they can reach to the goals which they decided to attain. In context of Debenhams, they can take the help of digital marketing mix for reaching out there. Firstly, company can prepare its objective such as at what are the place the place they are going to target i.e., UK only, or to the other part of the world as well. It order to do promotion, company can take the help of key partners company with whom they will like to enhance their business. In order to attract more number of customers, company can focus on moderate price strategy where every class of people can afford it and enjoy the services of a company. Tactics:It is the stage where company decides the process to reach out their goals in specific time period. In context of Debenhams, manager can take the help of PPC campaigns,Affiliatemarketing.Bothofthistacticscanbeeffectiveforthe organisationbecauseitdirectlyallowsthemtoattaintheirgoals(SOSTAC® marketing planning model guide, 2020). Affiliate Marketing will be done through the process of company’s key partners who has involved themselves with the business. Actions:It is that particular stage where digital marketing manager of the company will look for the implementing the tactics and plans which they have developed. It will certainly allow the organisation to take lead. Company can take the help of 5W’s i.e., who, what, where, when, How? etc. to reach out maximum number of customers. Control:The final stage is used for the purpose of analysing whether goals has been accomplished or not. It can be reviewed with the help of past and present performance and interactions of customers with the company. Also, if it is not accomplished then it is necessary to analyse the key area in it.
3)Develop a multichannel digital marketing strategy and explain in detail how your company can/must exploit these channels based on its strength identified through first two tasks. Multichannel digital marketing strategy can be explained as the process where organisation takes the help of multiple channel for the purpose of promoting its product through online sources. This mainly includes digital ads, websites, social media and many more. In context of Debenhams, they are mainly focusing in websites and social media for attaining their goals. Below, there is the detail process how company can improve their overall performance by exploiting all of the areas. Social Media:It includes Instagram, Facebook and many other sides where millions of people spends their time in present time. In context of Debenhams, they have been focusing this particular field because they have involved Facebook, Instagram and many more as their key partners which will certainly uplift their performance(Kotler and et. al.,2017). Company can reach out maximum number of customers through this process as per their preferences and choice which can be helpful in attaining the goals of a company. Website:It is the another process through which digital marketing manager of Debenhams can take lead within the market. Here, they can provide detail information about every single product. Also, online selling can be done through personal website. Even company will have the option to go for promotion through the process of PPC campaigns, Affiliate marketing. Both of this marketing strategy will allow the organisation to work a per their strength and allow to attract more number of customers towards the organisation who can perform better in accomplishing the goals of an entity. 4)Define your KPIs for each online channel/activity based on your main business objectives and your BMC. KeyPerformanceIndicatorisoneoftheeffectivetoolwhichcanallowthe organisation to evaluate their performance of past and present situation. Discussing about Debenhams, they can be benefitted from this particular tool because they will get to know that how effective digital marketing has been for them. Below, KPI has been done for different online channel in detail:
Social Media:It is one of the online channel which has improved the position of company because it has made more aware about the product. More number of customers has started to connect with the entity like Debenhams which is one of the positive sign for the company. It will simply uplift their overall performance. Website:It is the second particular process which is very crucial for the company. With the help of KPI. It has been found that company has been able to improve its overallsale(DePelsmacker,VanTilburgandHolthof,2018).Itallowsthe organisation to close its most of the physical store and give more focus towards online sources. In simply words, profit percentage has been increases in recent period of time. After having the evaluation, it has been found that company is able to perform better since they have shifted themselves towards digital marketing and it will also allow them to attain their goals in short time period. 5)Impact assessment on the business as a whole Overallimpactofdigitalmarketinghasbeengoodfortheorganisationlike Debenhams because they are able to take healthy lead in the market. As company is able to earn healthy amount of profit, it means they can conduct different motivational programs which can be effective for the organisation. Production department will get the opportunity to speed up their production of products, marketing team will work more effectively to attract more customers(Chaffey and Ellis-Chadwick, 2019). The key stakeholders of the company are employees, customers, partners company and many more. All of this member will be benefited because of the improvement in the performance. In short, introduction of digital marketing has been effective for the organisation like Debenhams. Recommendation It can be recommended to the organisation like Debenhams to work in the field of digital marketing as it will allow them to obtain effective result. Also, it is one of those technology which will attract more number of customers towards the organisation and even it will reduce their overall expenses. In short, it can be said that management of the company must look for the skilled and knowledge team which can perform as per the requirement of a company.
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CONCLUSION From the above discussion, it can be concluded that whenever any of the business entity perform it is business activity, they must be able to bring changes marketing strategy for attracting customers. Digital Marketing is one of the way through which company can easily attract more number of customers were organisation can easily take the help of multiple channel through which promotion can be done. SOSTAC model is one of the effective model for the entity whenever they try to take the help of digital marketing for promoting their product.
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