Analysis of Digital Marketing Strategies: John Lewis Finance PLC

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This report provides a comprehensive analysis of the digital marketing strategies employed by John Lewis Finance PLC, a British financial organization offering various services like insurance, loans, and money transfers. The report delves into the company's utilization of digital marketing tools such as search engine optimization (SEO), email marketing, and social media marketing to engage with its target customers, enhance brand recognition, and improve customer acquisition. It examines the best practices within the online insurance sector and determines effective marketing strategies to optimize customer acquisition and reduce business costs. The report discusses the use of SEO tools like SEMRush, Screaming Frog, and Moz, and social media platforms such as Facebook and Instagram, including influencer marketing and platforms like Wyng and Woobox. The analysis also covers the importance of social media engagement, cost-effectiveness, and the use of Facebook Power Editor for targeted advertising. The report concludes with recommendations for further improvements in John Lewis Finance's digital marketing approach.
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DIGITAL MARKETING
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Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Analysis of the best practice in the online insurance sectors.......................................................3
Determine marketing strategies for the organisation in order to improve the customer
acquisition and business cost.......................................................................................................4
CONCLUSION................................................................................................................................9
RECOMMENDATIONS...............................................................................................................10
REFERENCES..............................................................................................................................11
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INTRODUCTION
With the rising reliance in the internet sources, digital marketing is an emerging platform
adopting by many businesses for delivering and marketing its products and services to the end
customers. Businesses adopts to these digital marketing approaches in order to promote, engage
with the target market and make profitable relationships with them. In the context of John Lewis
Finance which is a British organisation based out of London, UK. It renders different products
and services to its customers which involves partnership cards, loans, insurance, foreign currency
and money transfers. It delivers different insurance services including home insurance, car
insurance, pet insurance, wedding insurance, event insurance to its customers. This report covers
the brief of different marketing techniques and strategies used by John Lewis Finance in order to
engage with the target customers (Bala and Verma, 2018). John Lewis Finance Plc. uses digital
marking tools like search engine optimisation, email marketing, social media marketing in order
in order to aware the target customers about the market offerings of the company. Digital
marketing also brings different opportunities and threats to the economic environment, where the
opportunities involves large customer engagement, cost efficiency. With the help of digital
marketing the John Lewis Finance Plc. engages with large number of customer segments with
just a touch apart from it also turn cost efficient to the business, as the business does not want to
spends unnecessary money in advertising activities. With the technological advancement era,
where more than half a billion of the world’s population is indulged using internet, it also leads
to different threats to the business involves privacy concerns and rising competitions over online
platforms. John Lewis Finance Plc. takes different measures in order to resolve the privacy issues
that involves leaks to important business and its customer data. Moreover, the John Lewis
Finance Plc. also formulates new business solutions and innovative changes in the market
offerings to cope up with the competition in the business environment (de Ruyter, Keeling, and
Ngo, 2018).
MAIN BODY
Analysis of the best practice in the online insurance sectors
John Lewis Finance Plc. is a British small and medium enterprise based out of London,
UK. It focusses at improving the quality pf the market offerings by continuously adopting
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changes in the product and services. John Lewis Finance Plc. offers products and services
ranging from partnership cards, it delivers online accounts for the customer by including extra
features to fulfil the security parameters, with the technological advancements it delivers services
to bring improvements in mobile payments methods and secure transactions. Customers needs to
books the services via online site of the company and the company delivers the ordered services,
for access for the partnership card, customer needs to adds all the relevant information in the
company site, after that the information gets processes the company delivers financial services of
partnership cards for the purpose of business and delivers the cad at the doorsteps of the
customers. It is famously known of its insurance services wherein it offers pet insurances
services for cats and dogs, it delivers insurance services for homes, wherein it promises to
deliver high value of home insurance, the company offers car insurance, John Lewis Finance Plc.
also renders other insurance services like event insurance and weddings insurance (Diez-Martin,
Blanco-Gonzalez, and Prado-Roman, 2019). The customers can take insurance of the any these
above determined things wherein the company promises to pay the high value services. At the
time of loss of property and any other uncertainty, customer can claim insurance from the
company. Other services offered by the company involves rendering the facilities of loan to the
customers wherein the business rendered loan at cheapest interest rates. John Lewis Finance Plc.
also delivers the financial services like money transfer to international boundaries without any
processing fees, even if the company charges any fees, it promises to reimburse the fee to the
customers.
Determine marketing strategies for the organisation in order to improve the customer acquisition
and business cost
With the emergence of the online platforms, John Lewis Finance Plc. uses online
platforms in order to deliver the services to the end customers. The company uses online site for
delivering services like partnership cards, loans, insurance, foreign currency and money
transfers. It is famously known of its insurance services of cars, pets, wedding and event
insurance. For delivering these with range of services it uses online site where customers
irrespective of any location needs to connect to the company by the online company site.
Customer needs to sign in by renderings their contact information which helps the both company
and customers to make one on one engagement (Frost, Fox, and Strauss, 2019). The company
then delivers the products to the customers at the doorstep with envelope of complete
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information about the products and services offered to the customers. The company also have
feedback sessions in the online site, where customers share their valuable feedback and the
changes that needs to be deployed by the company in order to brings improved changes in the
offerings of the company.
Digital marketing is nothing but using internet as the medium of promoting the marketing
offerings of the company to the end customers. With rising reliance over digital marketing,
business se different digital marketing tools in order to promote its goods and services to the end
customers. Thus, different digital marketing strategies used by the John Lewis Finance Plc. are
been discussed below:
Search engine optimisation
Search engine optimisation is defined by customising the search results in search engine which
helps to promote the goods and services of the company as when customers searches the related
goods and services online, the market offerings of the company results at the top. John Lewis
Finance Plc. uses this marketing strategy where it ties up with search engine companies like
Goggle. John Lewis Finance Plc. spends a huge money for search engine optimisation in Goggle,
as google is the most popular and most used search engine in the world. By using search engine
optimisation, the company promotes the goods and services to the target customers, as when the
customers search any insurance or other related goods and services provided by the company, the
search results get at the top results in Goggle. This marketing techniques helps the customers to
know about he company and marketing offerings delivered by the company (Gupta, 2015).
SEMRush
SEMRush is an important tool that helps to improve the search rankings of the company. of the
company. With the help of SEMRush the company can tracks the position of the competitors in
the market place and use different tools in order to monitor and improve the search results of the
company in the market.
Screaming Frog
Screaming Frog is tool that uses by John Lewis Finance Plc. in order to determine the complete
information of the webpage. It helps to evaluate the errors in the webpage including the broke
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link and broken pages and helps to fix all of these errors in the website (Herhausen and et.al.,
2020).
Moz
Moz is a tool which helps to determine the listings of the company in the marketplace with the
help of search engine optimisation activities. John Lewis Finance Plc. uses Moz wherein it adds
details of the local business, Moz helps to quickly works to listing of the company among the
competitors. Moz helps to analyses the ranking of the in the market place and delivers suitable
business solution to the company.
Social media marketing
Social media marketing is most popular marketing strategy used by different companies in order
to engage with large number of target customers with just a click. In accordance to the market
survey, it is found that almost 60% of the people living in UK uses social media with 45 million
social media users. Thus, using social media platforms as a medium for promoting the goods and
services of the company. John Lewis Finance Plc. uses social media platforms like Facebook,
Instagram in order to promote the marketing offerings of the company. With the help of
Instagram where about 33 million users in UK uses this social media channels, John Lewis
Finance Plc. creates the social accounts wherein the company timely uploads pictures and videos
and renders timely updates to its customers. Other than Instagram, the company also uses
Facebook as the medium of promoting the goods and services of the company to the md
customers. The number of customers helps to determine the total customer’s engagement
(Järvinen, 2016). The company also use hashtags in Instagram to promote the marketing
offerings. These social media platforms not only help to reach out a large section of the
population with a touch but also saves the cost of the business incurred in different advertising
activities. John Lewis Finance Plc. uses creative presentation of the offering where the company
discloses the compete the range of marketing offerings including the online reviews of the happy
customers. The company also responds to the queries the customers about the offerings of the
company (Nikunen and et.al., 2017). Social media marketing is an important tool which help to
engages to the large number of customer segment within the limited span of time. it an effective
marketing too which helps of develop the channels of customer engagement. it serves different
benefits to the company that involves in increasing the rand recognition of the company in the
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marketplace, the most important advantages that it reduces the marketing cost incurred in
conducting the advertising campaign, reaches out a large part of the customer segment and
increases the traffic at the sites, John Lewis Finance Plc. evaluates the effectiveness of the
marketing campaign by calculating the number of the customers furthermore the increased
customer engagement helps to improve ranking of the company in the search engines, it also
helps the customer to feel brand loyalty wherein the company post about the reviews of the
experienced customers. Thus, social media marketing is an effective tool used by John Lewis
Finance Plc. wherein the company innovates effective marketing strategies that helps to to easily
access the large number of target customers and build brand recognition in the market place and
increase the customer market share of the company.
Other marketing strategies via social media platforms used by John Lewis Finance Plc. includes
influencer marketing, wherein the company assigns different marketing collaboration to famous
influencer in social media platforms. These influencers are being paid by the company in order to
promote the service of the company. When these famous influencer conducts promotion, these
attracts new customer and make existing customers to feel more reliable toward the marketing
offerings of the company. These are most effective marketing strategies that John Lewis Finance
Plc. uses via social media platforms in order to promote the marketing offerings and rightly
delivers the marketing message to the customers (Olson and et.al.,2021).
Wyng
Wyng is a marketing platform uses by John Lewis Finance Plc. that helps that focuses on
creating customer engagement via hashtags, quizzes, contests and so on. In order to create the
awareness among the customers. Moreover, it also pulls out analytics, which determine the
effectiveness of the marketing campaign.
Woobox
It is just as similar to the Wyng, where it works on building the customer engagement by
conducting social contest. John Lewis Finance Plc. uses Woobox via Instagram by conducting
giveaways where customers have to use hashtags for being the winners of the giveaways. These
marketing approaches helps to create awareness and gain popularity among the customers
(Piñeiro-Otero and Martínez-Rolán, 2016).
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Facebook power editor
Facebook power editors is a digital marketing tool which helps to conduct specific Facebook
advertisement campaign. It is the most cost effective promotional tool via Facebook that John
Lewis Finance Plc. uses in order to promote the goods and services to the end customers, the
company sets the prices rage in accordance to the budget, it also helps to set the range which
involves determining the target customers. These are the paid social media marketing which
avoids the interference of the third party and conduct attractive advertisement of the company.
Email marketing
Email marketing is an effective and important marketing tool that is use by John Lewis Finance
Plc. in order to communicate and engage to the target segments. With the help of email
marketing the company engages to the target customers, as the company delivers all the
important messages via email of the customers. The company delivers the relevant information
to the customers including the details of the services taken, the details of the order services by
the company, the details of the order and timely updates to track the orders. Apart from
important communication the company uses email marketing in order to aware the customers
about the latest the changes in the market offerings of the company, the promotion techniques
including the pricing strategies about discounts and rebates, seasonal promotional tools use by
the company to end customers. email marketing helps to engage to the target customer directly
and improve the communication channels of the company with the customers. Email marketing
helps to engage to the selected customers who are important to the business. Thus, John Lewis
Finance Plc. focusses on improving the communication via emails in order to build profitable
relationship with the target customers. Email marketing is an emerging digital marketing tool
that helps to make one on one contact with the end customers (Puthussery, 2020). Wherein both
customers and business can interact to each other via email. It also helps to keep the customer
updated about each step the company takes be it the order delivery, payments charged for the
services, detail summary of the services taken and the new changes in the market offerings of the
company.
Hubspot email marketing
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Hubspot email marketing is a marketing software famously known for the customer relationship
management it is the most cost effective tool that includes free customer relationship
management software, it includes templates that are ready to use, free email up to 2000 emails
per month (Ritz, Wolf and McQuitty, 2019). I help to delivers attractive email messages to ye
customers and with complete contact information of the customers that helps the business to
easily access its end customers.
GetResponse
GetResponse is an email marketing platform that involves records the respondent behaviour.
John Lewis Finance Plc. uses GetResponse email marketing which emerging tool in automation
automatically records the behaviour and latest customer trends which helps the company to
deliver smarter marketing to the customers (Slavova, 2016).
CONCLUSION
Thus, in a nutshell the above discussion clearly states the role of digital marketing for the
businesses. This report reflected the digital marketing strategies used by the Insurance companies
in order to engage with the target customers. Digital marketing includes different opportunities to
the business including cost efficiency and engaging with the target to make profitable
relationships with them. There different digital marketing tools discussed above which involves
search engine optimisation, social media marketing, email marketing. Business also develops
analytical tool in order to determine the effectiveness of these marketing campaign. These
marketing tools helps the business to reach out large number of the customer segment and
delivers the marketing message to the customers. Digital marketing also results to different
threats to the business which involves rising privacy concerns. Privacy issues arises when people
with malicious intent unethically hacks into the systems of the business, these are the major
challenges for business operating via internet platforms. Rising competition is also the concerns
of the business operating via online channels. Many online businesses are increasing that uses
digital marketing as a tool to market the products and services to the end customers. Thus,
business adopts to new innovative changes in the marketing strategies that brings improved
changes in the marketing offerings, pricing strategies, supply chain and other related business
activities in order to attain competitive advantage in the market place. The business needs to
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continuously add improvements in the marketing strategies by determining the marketing
campaign in accordance to the changes in the customer demand. Digital marketing is emergence
marketing channels that help o accomplish the desired marketing message of the company at
minimum time limit and reaches to the large section of the customer segments irrespective of the
location
RECOMMENDATIONS
In order to improve the digital marketing strategies for better customer engagement here
are some recommendations that will helps John Lewis Finance Plc. to improve its service quality
in the marketplace, these ae as:
Create Blogs and Produce Content
One of the important ways for improved marketing strategies is creating the won blogs at the
company’s website. Content writing is the effective marketing techniques that will helps to
improve the marketing, wherein the business can add the stories and different solution of the
specific problems. John Lewis Finance Plc. can also use the Goggle analytics in order to
determine and analyses the effectiveness of the blogs and contents.
Documented strategies
Maintaining documented strategies help to keep complete record of the company about the
marketing campaign wherein the company need to list down different marketing strategies that
worked and that didn’t work with the needed changes the company needs to develop in order to
bring developments in the marketing campaigns. It will help the company to determine the
shortcoming in the marketing strategies and what all important changes the business needs to
adds in order to accomplish the marketing objectives of the company.
Create the ultimate buying journey
John Lewis Finance Plc. needs to develops the effective marketing strategies b rightly analyse
the customer needs and determine that what actually the customer are been looking for. The
company must ensure to improve the customer experiences by evaluating which is the most
effective marketing campaign that brings returns to the company and make sure that the online
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site are renderings better solutions and guides the customers to helps them to find what they
actually looking for.
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REFERENCES
Books and Journals
Bala, M. and Verma, D., 2018. A critical review of digital marketing. M. Bala, D. Verma (2018).
A Critical Review of Digital Marketing. International Journal of Management, IT &
Engineering. 8(10). pp.321-339.
de Ruyter, K., Keeling, D. I. and Ngo, L. V., 2018. When nothing is what it seems: A digital
marketing research agenda. Australasian Marketing Journal (AMJ). 26(3). pp.199-203.
Diez-Martin, F., Blanco-Gonzalez, A. and Prado-Roman, C., 2019. Research challenges in
digital marketing: sustainability. Sustainability. 11(10). p.2839.
Frost, R., Fox, A. K. and Strauss, J., 2019. E-marketing. New York, NY: Routledge.
Gupta, S., 2015. Digital marketing. McGraw-Hill Education.
Herhausen, D. and et.al., 2020. The digital marketing capabilities gap. Industrial Marketing
Management. 90. pp.276-290.
Järvinen, J., 2016. The use of digital analytics for measuring and optimizing digital marketing
performance. Jyväskylä studies in business and economics. (170).
Nikunen, T. and et.al., 2017. Micro-Enterprise's Digital Marketing Tools for Building Customer
Relationships. Management (18544223). 12(2).
Olson, E.M. and et.al.,2021. Business strategy and the management of digital
marketing. Business Horizons. 64(2). pp.285-293.
Piñeiro-Otero, T. and Martínez-Rolán, X., 2016. Understanding digital marketing—basics and
actions. In MBA (pp. 37-74). Springer, Cham.
Puthussery, A., 2020. Digital Marketing: An Overview.
Ritz, W., Wolf, M. and McQuitty, S., 2019. Digital marketing adoption and success for small
businesses. Journal of Research in Interactive Marketing.
Slavova, M., 2016. Digital Marketing. Ikonomiceski i Sotsialni Alternativi. (3). pp.36-48.
Yadav, M., Joshi, Y. and Rahman, Z., 2015. Mobile social media: The new hybrid element of
digital marketing communications. Procedia-social and behavioral Sciences. 189.
pp.335-343.
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