Digital Marketing Landscape, Plan, and Strategy for B&M Stores

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This report provides a comprehensive analysis of digital marketing strategies for B&M Stores. It begins with an overview of the digital marketing landscape, comparing online and offline marketing concepts. The report then delves into key consumer trends like chatbots and AI, and analyzes the digital tools available to marketers, contrasting them with traditional methods. It explores the development of e-commerce and digital marketing platforms, followed by the creation of a digital marketing plan and strategy to build multi-channel capabilities, including an examination of omni-channel marketing. The report also evaluates methods for monitoring and measuring digital marketing effectiveness, culminating in a set of actions to improve digital marketing performance for B&M Stores. The report provides a SWOT analysis and discusses the company's mission, vision and objectives, and provides a budget for the digital marketing plan.
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Word Count
INTRODUCTION...........................................................................................................................2
Overview of the digital marketing landscape and compare online and offline marketing
concept....................................................................................................................................2
Determination and analyse key consumer trends and insight that are helpful in growing
digital marketing.....................................................................................................................3
Key digital tools and hardware that are available to marketers in contrast to “ bricks and
mortar” and other physical channels......................................................................................5
Development of e-commerce and digital marketing platforms and channels as compare to
physical channel.....................................................................................................................7
Develop a digital marketing plan and strategy to build multi channel capabilities................8
Omni-channel marketing evolved.........................................................................................9
Evaluate method of monitoring and measuring digital marketing effectively......................9
A set of actions to improve performance in digital marketing.............................................11
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13
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INTRODUCTION
Digital marketing involves of marketing of services and products via digital channels
with the access of internet. It involves advertising and display of organisational offerings to
customers to enhance organisational profitability. Marketing is defined as a management process
in which services and products are being provided as per consumer want. It include offers as well
as exchange of services, ideas and good (What is Digital Marketing? A visual summary. 2020).
Present report has been conducted on B &M Stores. The company operate their functions in
retail industrial sector with having it’s headquartered in Liverpool, United Kingdom. Company
was founded by Malcolm Bollington. B&M stores are operating since 1978. There are variety
retailers those who are offering their services to customers. The company experienced huge
success thanks to its competitive pricing and key locations positioned stores. During 2008-2018
stores went from 20 to over 600. (About B&M Stores, 2020). In this report report is required to
be provided to marketing head of B&M stores who is looking forward to maximise their
presence in digital world.
Report include formative discussions on online and offline marketing concept of the
opportunity, challenges, and impact of digital marketing up on respective company. Report also
includes development of e-commerce and digital marketing platform, digital marketing plan. In
this report discussions has been made of critical evaluation of key digital tools that are being
available to marketers. Along with this in this report implications of marketing campaign and
critical assessment of application of important digital measurement techniques as well as
performance metrics that are being used in digital-marketing.
Overview of the digital marketing landscape and compare online and offline marketing concept
Digital marketing landscape demonstrate a aggregate name for social networks, videos
( YouTube), mobile devices ( smartphones, tablets, iPhones), websites, email, etc. All these tools
assists businesses organisations to sell their services and products in effective manner. Due to
emergency in technology these tools proves to be an effective measure through which entities
can build strong market presence and can enhance their profitability by offering the product and
services on many digital sites. B&M stores can take use of search engine and search networks,
contextual advertising and affiliate advertising to advertise their brand quite effectively.
Comparison between online and offline marketing concepts
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Basis of Difference Online Marketing Concepts Offline Marketing Concepts
Concept Online marketing states, leveraging
webpage channel through which
necessary and essential message or
information can be provided to
customers in context with company
services, brand and product with the
use of different forms of online
techniques and tools.
Offline marketing did not involve
any form of online marketing, in
this involved organisation offer
their services products and
information to customers via
offline measures.
Tools There are different types of online
marketing concept that mainly
involves Google, email, social media,
search engine optimisation etc.
In this tool like print publication,
television, flyers etc are included.
Cost Online marketing is affordable
through which company can promote
their brand to maximise their sales.
Offline marketing involves higher
expenses in terms of giving
salaries, funds to maintain stock
and other bills.
Convenience – 247/7
or 365 Days
Online marketing include no time
barriers as in this consumer can make
their visit to website and can buy
services and product at any time.
In terms with offline marketing
business organisation can only
expect consumers or sales when
their outlet is opned.
Determination and analyse key consumer trends and insight that are helpful in growing digital
marketing
There are different types of key consumer trends that are playing important role in growing
digital marketing tools like, Chatbots, Artificial Intelligence, programmatic advertising, etc.
through which B & M can maximize efficiency of their business operations. However there are
some certain form of consumer trends and insight by understanding of which entity can conduct
the digital marketing process in efficient manner.
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Chatbots:-
It allow organisation to provide real-time assistance to their consumers by facilitating human
conversion with the use of artificial intelligence. By taking advantage of chatbots which is one of
the most important drivers of online marketing B & M can effectively fulfil needs and demands
of consumers by providing them effectively support by resolving their issues and problems with
accurate suggestion. For example, if a consumer is having any query related to purchased
product them this can be resolved by company through chatbots in limited time.
Artificial Intelligence:
It is one of the most effective trend that allows organisation to narrow the gap and have
an ability to seek out and make identification of the patterns which proves to be beneficial for
their marketing campaigns. In addition to this AI facilitate marketers to efficiently reach
customers at every stage of process based on their demographics and interests.
Illustration 1: Reasons for adopting AI
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Programmatic advertising:
In this B&M stores can use Artificial Intelligence to automate ad buying, with the help of
this they can effectively target more specific form of audiences. Along with this it has been
determined that with the help of this tool company can have higher conversions and lower
consumer acquisition costs.
Key digital tools and hardware that are available to marketers in contrast to “ bricks and mortar”
and other physical channels
Brick and Mortar is mainly defined as stores in which organisations engage face-to-face
with consumers. While in online, customers are allowed to buy services and goods form a seller
in real time. Digital tools like same day click-and-collect services, email marketing, paid social
media, social media platforms, analytics tools, design tools, etc. are some of the digital
marketing tools through which companies can maximize their revenue generation rates (Kumar,
and Singh, 2020). It enhances organisational capability to influence attention of maximum
number of consumers. For this, B&M Stores can undertake advantage of R.A.C.E plan.
Click-and-collect service-
It is one of the most effective digital tool in which company can make their consumers to
order groceries online and collect them in-store within estimated time hour. B&M stores believes
and respect valuable time of their consumers so as to provide more convenience to them
company by taking advantage of this tool provide the facility of same day grocery in order to
make significant boots in their collection and delivery capabilities.
Social media platforms-
There are different types of social media platforms like Snap chat, Facebook and
Instagram that effectively allows marketers to engage their consumers while generating buzz
around their brand. In addition to this, it has been evaluated that there are standard features that
are being offered by these platforms which is primarily designed for marketing. For example
Facebook Ads Manager provide facility through which B&M stores can run advertisements and
can further track advertisement performance. Further it has been determined that with the
assistance of social media management tools such as Hoots suite and Buffer B&M stores can
effectively integrate with these platforms in effective manner.
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Content marketing tools
Content marketing is most valuable digital marketing tool that allows B&M stores to
have more focused approach towards content marketing, in this tools like Hubspot and
CoSchedule helps company to create context effectively by identifying content opportunities and
crafting engaging blog as well as social media posts.
Google's Audience Retention tool:
It is one of the most effective tool through which organisation can develop accurate
understanding of their customers. In this B&M stores by conducting custom surveys can target
particular audiences by evaluating them on the basis of family structure, age, gender, geography
and income to offer them services and products accordingly.
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Development of e-commerce and digital marketing platforms and channels as compare to
physical channel
There is increase in number of users of e-commerce platform there is wide opportunities
for organisation to undertake advantage of different type of e-commerce platform through which
they can not only serve customers effectively but also allow company to enhance their market
reach with high- tech security comparatively to physical channels (Giovannoni, 2020). In
physical channels retailer or employer physically interact with customers that develop
relationship. In this advertisement measures like radio, broadcasting, newspaper, television
advertisement and magazine facilitate organisation to perform their digital marketing effectively.
In terms with B&M it is essential for managers to take advantage of efficient marketing strategy
in order to gain more competitive advantage. In this by engaging in continuous research and
analysis to identify external and internal business environment factors, company can undertake
different digital platforms through which they can conduct their business at wide scale while
satisfying consumer wants. E-commerce development allows B&M to enhance their
organisational growth comparatively to physical channels:
Easy to record data
In this by taking advantage of high tech software B&M can secure personal information
in data of customers with high-tech code. Respective entity by taking advantage of experience
business analyst can track customers visiting detail on company official website and application.
It allow organisation to identify their purchasing behaviour through which they can attract them
according to their searching list. Thus as per compared to physical stores e-commerce and digital
marketing platforms offer easy to record data facility.
Targeting local and international customers-
With the expansion of technology all across the globe facilitate efficiency of digital
marketing it provide significant opportunity to B&M to maximize their digital marketing area
and offer their services and products to last base of consumers with efficient media channel to
grab consumers attention towards their organisational offerings. Digital and e-commerce
platforms comparatively to physical stores can attract attention of customers form local and
international place.
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Develop a digital marketing plan and strategy to build multi channel capabilities
Situational Analysis:
In order to ensure growth and development it is essential for B&M to analyse different
types of factors in order to evaluate their impact upon organisational strategies (Saputra and et.
al., 2020). In this, SWOT analysis proves to be effective through which respective entity can
develop effective digital marketing plan according to set guidelines and procedures
Strength Weakness
With having strong brand equity and leadership
style B&M perform their operations with great
strength.
B&M is not having any form of standardised
scale to ensure more competitive growth
comparatively to rivals such as Safeway,
Kaufland, ALDI and Kroger.
Opportunities Threat
Due to rapid increase in technology, B&M can
undertake use of many digital platforms to
offer their products as well services like
Grocery and variety overseas.
Increase in aggressive competition of
increasing profitability in retail industrial sector
maximise sense of threat for B&M to gain
profitable advantages.
Mission: B&M mission is “To offer wider range of product and service and aware
potential buyer about same through digitalisations”.
Vision: “To become most leading company by providing utmost quality goods and services to
potential (Busca and Bertrandias, 2020).
Business objectives: To improve customer relationship by 18%, with the help of
effective promotional technique utilised by marketing team by end of August month.
Total Forecasted Budget
Particular 23/08/19
Manufacturing cost 2000€
Promotional expense 1500€
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Advertisement expense 800€
Cost of adopting new technology 800€
Catalogues 150€
Total Cost 5250€
Omni-channel marketing evolved
Omni-channel marketing is mainly defined as multichannel sales approach through which
organisation can effectively provide their consumers with integrated shopping experience. By
undertaking advantage of this marketing customers can be treated in fantastic way across all the
channel. It also allow organisation to keep accurate track of the happening in all those channels.
It has been evaluated that in terms with omni-channel approach, different types of channels are
connected via a centralized single routing system that further develops a 360-degree view of
consumer interactions. Omni-channel evolved from phone to appliances, from contacts to events
and from content to sentiment (The Omni-Channel Evolution. 2020).
Evaluate method of monitoring and measuring digital marketing effectively
Digital marketing facilitate organisation to generate maximum revenue and assure
organisational growth and development in respective retail sector. It is essential for management
to monitor and measure digital marketing as to ensure efficient future processes to deliver
services and products to customers adequately. In this entity is required to properly engage in the
process of determining financial budget to implement digital marketing activities, understand
interest and behaviour of online consumers. Mentioned below there are some measures through
which B&M marketer can undertake marketing strategies to enhance efficiency of their digital
marketing:
HubSpot Marketing:
It is an effective measure that include different types of tools through which business can
grow at any stage. In this B&M stores can set their web forms, pop up forms and live chat
software. This will lead company towards sending email marketing campaigns and tube all their
data into free CRM through which B&M store can evaluate site visitors behaviour in effective
manner. through which they can measure and monitor their digital marketing effectively.
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HubSpot marketing proves to be an efficient tool that facilitate company to grow their traffic by
shortening deal cycle.
Key Performance Indicators:
With the assistance of this performance indicator B&M can allow themselves to evaluate
organisation growth ladder. In context to B&M management by aligning KPI's with
organisational marketing goals can develop long as well as short term objectives that include,
generation of new lead, building brand awareness and adding value in marketplace.
B&M marketing manager is required to track digital marketing metrics that involve social
media, email marketing metrics, website traffic for growth. Employees of entity need to critically
evaluate email open rate, social reach, and social engagement of active online users and overall
ROI in order to assure organisational successful growth.
The performance evaluations of social metric are represented under-beneath:
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Source: ©2019 FreshSparks
A set of actions to improve performance in digital marketing
There are different type of ways through which improvement in performance of digital
marketing can be made some of that include network theories, generation theory and
generational theory. In addition to this by tacking their social channels B&M stores can
significantly improve their performance. Further by implementing own marketing campaigns
respective company can assure improved performance level in digital marketing:
Review Digital Marketing Strategies:
In this measure manager of organisation is required review different digital marketing
strategy applied by leaders in order to enhance overall competitiveness of entity. For this B&M
management outsource experts to have accurate advises and set estimate budget for their online
platform promotional activities, through which they can overcome inappropriate cost in
marketing campaign issues in a significant manner.
Go social, mobile and local on digital marketing strategies:
With the assistance of digital marketing strategies manager can select efficient social
media platform to conduct their advertising activities (Kayumovich and Annamuradovna, 2020).
In this entity is required to undertake different Smartphone applications like Instagram,
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facebook, twitter etc to aware customers with organisation services and products. With the help
of this B&M can reduce significant incurring inappropriate capital investment on the digital
marketing activities.
Implementing a multi channel digital marketing campaign:
By implementing multi channel digital marketing campaigns B&M can improve
efficiency of their digital marketing through which they can interact customers in efficient
manner. B&M ensure that employees possess positive approach in order to provide satisfaction
to different mindset of consumers according to their behavioural conduct.
Data Managers:
In this B&M allot roles and responsibility to data manager in which they are responsible
to manage website, social media pages in order to directly communicate with potential set of
customers. Data manager is having essential responsibility to make customers aware related to
the features, cost of services and products. B&M ensure that their data manager effectively
enhance curiosity among consumers in order to influence their purchasing behaviour.
CONCLUSION
According to the stated report this has been concluded that B&M stores by outsourcing
their digital marketing strategy and undertaking advantage of key performance indicators
company can effectively perform their operations while assuring many benefits. With the help of
actions like reviewing digital marketing strategy, implementing multichannel digital marketing
campaigns digital marketing performance can be effectively improved. Along with this it has
been evaluated that there are different types of ways through which B&M can monitor and
measure their digital marketing, in this by taking use of landing page conversion rates, consumer
lifetime value and customer acquisition cost (CAC) performance can be measured.
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