Digital Marketing Research Report

This report investigates the impact of digital marketing on FreemarketFX, a currency exchange company. Using a mixed-methods approach (primary research via surveys and interviews, secondary research from online sources), the report identifies the target audience, analyzes the evolution of relevant digital technologies (mobile phones, social media, review sites, online banking, virtual currencies), and assesses their impact on both the company and its customers. A SWOT analysis evaluates FreemarketFX's position, and the report explores future trends like big data, content curation, real-time personalization, wearable technology, and new currencies. The conclusion emphasizes the significant impact of digitalization and the need for a strategic approach to leverage technology for customer management.

Running Head: DIGITAL MARKETING RESEARCH
Digital Marketing Research
A Report
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Table of Contents
Executive Summary.........................................................................................................................3
Introduction......................................................................................................................................4
Research Methodology....................................................................................................................4
Target Audiences.............................................................................................................................5
Evolution of digital technologies relevant to the target audiences..................................................9
1. Mobile phones......................................................................................................................9
2. Social networking sites.......................................................................................................10
3. Review websites.................................................................................................................11
4. Internet banking......................................................................................................................11
5. Virtual currencies...................................................................................................................12
Impact of digital technologies on Target Audiences.....................................................................12
1. Impact of mobile phone on Target audience......................................................................12
2. Impact of social sites on target audience............................................................................13
3. Impact of review sites on target audience...........................................................................13
4. Impact of Internet banking on target audience...................................................................14
5. Impact of Virtual currencies on target audience.................................................................14
Digital technologies & its impact on Industry Locally & Globally...............................................15
1. Strength...............................................................................................................................15
2. Weakness............................................................................................................................15
3. Opportunity.........................................................................................................................16
4. Threat..................................................................................................................................16
Local SEO..................................................................................................................................17
Local Advertising.......................................................................................................................17

Future trends which impact the industry.......................................................................................18
1. Big data...............................................................................................................................18
2. Curate Content Marketing..................................................................................................19
3. Real-time customer personalization...................................................................................19
4. Wearable technology..........................................................................................................20
5. New currencies...................................................................................................................21
Conclusion.....................................................................................................................................21
References......................................................................................................................................23

Executive Summary
The FreemarketFX comes within the financial industry and it provides unique scheduled
exchange that helps the consumers to exchange the currency at mid-rate. The company brings
together the consumers in a single exchange window and provides opportunity to match the
currency. The purpose of this paper is to understand the impact of digitalization on the company
and its target audience. The impact will be studied through two research methodologies that
include primary and secondary research. The target audience will be assessed using the primary
and secondary data. The primary data is collected through interviews with potential clients and
co-owners. The secondary data is collected from online reports, blogs and articles. The evolution
of digitalization includes advancements in mobile phones, social media sites, review sites,
internet banking, and virtual currencies. The impact of these elements on the target audience will
be understood. The SWOT analysis has been done to evaluate the internal and external position
of the company. The future trend which impacts on the company includes big data, curate
content marketing, real-time customer personalization, wearable technology, and new currency.
The study has reached to the understanding that the impact of digitization is substantial on the
selected company and its customers. The company needs to take calculated approach in
managing the client using the technology.

Introduction
In this present paper, we will research the impact of digital marketing. The Company name is
FreemarketFX. The paper also describes the research methodology, target audience, evolution of
digital technology which is related to the target audiences, and impact of digital marketing,
digital technologies and its impact locally and globally. The future trends which impact audience
within the industry have been studied. The FreemarketFX provides unique scheduled exchange
opportunity to the client to transact at the mid-market rate and it is incorporated in 2010 in the
United Kingdom (FreemarketFX et al., 2016). The company allows the clients to optimize to
match currency. The company provides exchange at periodic intervals with the one scheduled
exchange at midday. If the exchange is not matched then the buyer gets the benefits from market
buying power. The subsequent chapters ahead discuss the various aspects related to the area
under study.
Research Methodology
The various digital marketing related researchers in the finance industry are described in this
paper. The primary research is used to collect the information through survey and interviews
(Kumar et al., 2005). The data is collected through secondary research from articles, online
reports, and blogs. The data is collected to explain the trends of digitalization in the finance
industry, and target audience of FreemarketFX is identified. The types of research are explained
below:
1. Primary research
Sources used:

The survey is conducted for analyzing the digital trend through the social media page of
FreemarketFX. The total respondents were 30. The Microsoft excel tool is used to calculate
the total respondents of United Kingdom. The interviews are conducted for potential
investors through emails and co-owner of the company.
Topics of investigation:
 Consumer preference towards the service of FreemarketFX.
 Preference of digital and its trends.
 Present digital market strategy of FreemarketFX.
2. Secondary research
Sources used:
 Website of FreemarketFX and social media
 Online reports, blogs, and articles which are related to the financial industry and
audiences.
The sources of research are based on accessing the internet (Kothari et al., 2004). The
implementation of primary methods is done through online sources for example emails and
the online survey. The secondary methods are accessible through blogs, reports, and articles.
The insight of the company is provided by Facebook. The digital technologies in the report
are based on the research of an industry and its primary research.
Target Audiences
The primary data includes interviews of two potential clients through emails and interview of the
co-owner. The secondary data is collected through online reports, website of the company, and
is used to determine the target audience and personas of the company (Eccles et al., 2012)

Primary Persona: Kate
Demographics:
 Female
 38 years old
 Primrose Hill , United Kingdom
Background:
 Business women with sixteen years of experience.
 Interested in making money through a huge amount of investment.
 A resident of India and settled in the UK.
 Either high net worth individual
 Frequent traveler with need to often exchange currency
Goals:
 Exchange money with low exchange rate
 Risk-free money exchanges with security
 Convenience and time-saving
Challenges:
 Select the money exchanger within the respective budget.
 Choose the currency exchange with minimum cost.
 Finding appropriate and secure investment
Digital preference:

 Access internet on mobile phone, tablet and laptop.
 Use social media sites on regular basis.
 Prefer to interact with the companies through online by accessing the review sites,
company websites and others.
 The clients prefer various website for money exchange such as money corp., world first
UK ltd, and others.
Primary Persona: Jack
Demographics:
 Male
 43 years old
 Marylebone, United Kingdom
Background:
 Working as the chief engineer in the reputed company of UK and a resident of Australia.
 Family and children are living in Australia.
Goals:
 Exchange money with less cost.
 Exchange money with security.
Challenges:
 Selecting the appropriate exchange house.

 Appropriate currency pairing.
Digital preference:
 Access internet on mobile phone, tablet and laptop.
 Use social media sites on regular basis.
 Prefer to interact with the companies through online by accessing the review sites,
company websites and others.
Secondary Persona: John
Demographics:
• Male
• 45 years old
• Marylebone, United Kingdom
Background:
• Business user and the company deals in international trade among various countries.
• The business is conducted overseas with the almost every type of company.
Goals:
• Exchange money with less cost.
• Exchange money with convenience and time-saving

Challenges:
• Selecting the appropriate exchange house.
• Appropriate currency pairing.
Digital preference:
 Use social media sites on regular basis.
 Access internet on mobile phone, tablet and laptop.
 Prefer to interact with the companies through online by accessing the review sites,
company websites and others.
Evolution of digital technologies on the target audiences
1. Mobile phones
The mobile phone was first time commercialized in 1947 by AT&T. The service was recognized
as mobile telephone service, and it spread across the towns and cities. The system used half
duplex in which the press to speak system was used to head the other person. MTS was used in
North America till the 1980s. Then the new service of user dialing was established which
eliminate the use of operator forwarding. The first hand-held mobile phone was introduced by
John F. Mitchell and Martin Cooper in 1973 (Ozcan et al., 2014). In 1983, the first commercially
available mobile phone was DynaTAC 800x. The mobile phone reached worldwide subscribers
from 1983 to 2014. The Samsung, Huawei, and Apple were the top manufacturers in the first
quarter of 2016. The service of mobile radio was envisioned in the year 1917. The pocket size
mobile phones were invented by Eric and Finnish in 1917. In 1991, the digital cellular

technology was introduced of 2G in Finland on the standard of GSM through Radiolinja. In 2001
third generation was introduced by NTT DoCoMo in Japan on the standard of WCDMA. Then it
is followed by 3.5G, 3G+ and others which are based on the access of high speed. Till 2009 the
bandwidth of intensive application is overwhelmed by the networks of 3G (Sesia et al., 2015). In
the fourth generation, the technology is come with the promise to improve the networks and
speed. The 4G has two commercially available technologies in the early stage, namely, WiMAX
standard and LTE standard. The various features of mobile phones are available for the
competitors in the mobile industry which helps to differentiate the product in the market.
2. Social networking sites
The evolution of social media can be traced back to 1970s. The way of communication has
changed with the introduction of social media which helps to connect the individuals globally.
The golden era of social media started in 2001. Continued innovation came in the social
networking sites from 2001 bringing in Facebook, that was introduced in 2004 and, Twitter, that
came in 2006 (Ellison et al., 2014). The social networking sites were commercialized through
various online communities for example Theglobe.com, Tripod.com and others. The
communities emphasized on bringing the people together which helps in interacting individuals
through chat rooms and it encourage sharing the personal information through a personal web
page. In the 1990s the profiles of users become the main feature of social networking sites which
allow adding individuals in the friend list. At the end of the 1990s, new methods are developed
with the more advanced features. The emergence of sixdegree.com helps to flourish the social
networking sites which are followed by the makeout club in 2000 then by hub culture in 2002.
Then it became the main component if internet mainstream. The South Korean service was the
first mass social media site which was launched in 1999 by blog based site than new feature were

added in 2001. The sale of virtual goods was done by the company firstly, then after one year
LinkedIn and MySpace followed by Friendster. The most famous social networking service on
the pacific island was Orkut. The social networking sites were rapidly increased in 2005. In 2004
the Facebook was launched which was the largest social media site across the world.
3. Review websites
The evolution of review websites helped the company and consumers to interact with each other
through providing review on the product and services provided by the company. For example,
the development of best international money transfer helps to a consumer to find the appropriate
money exchange company. The techniques by the site are web 2.0 which employ the authors or
professional writers to review the product and services. The early review sites were Amazon.com
and Epinions.com (McAuley et al., 2013). The affiliated links were provided on the review
websites which are enhanced by paying from companies. The growth of affiliated programs has
emerged the review websites which affiliates the review of products. The positive reviews are
written on the review websites which influence the buying behaviors of consumers. The
companies generally pay for the positive review and negative reviews are written by the
competitors.
4. Internet banking
The online banking service was established in 1980. The service became popular in the late
1980s. It started in the US in 1981 with major banks, namely, Citibank, Manufacturers Hanover
and others (Singh et al., 2015). The clicks and bricks hit the market in the 1990s which
introduced the online banking services. It provides various services in the single pack through
online banking service. In 2000 eighty percent of the banks in the US started providing online