Enhancing Spacer Company's Reach: A Digital Marketing Report

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AI Summary
This report details a digital marketing strategy for Spacer Company, an online rental platform, focusing on expanding its business through digital channels. It includes a situational analysis covering market trends, competitors, and customer insights, emphasizing the need for innovation and a unique brand image. The report applies the RACE framework (Reach, Act, Convert, Engage) to outline specific strategies, such as search engine optimization, YouTube advertising, and email marketing, to attract and retain customers. A digital marketing campaign is proposed, leveraging social media and events to increase brand awareness and customer engagement. Recommendations focus on understanding customer needs, building a strong brand, and fostering customer loyalty through quality service and a customer-centric approach.
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Running Head: DIGITAL MARKETING
spacer
Digital Marketing
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DIGITAL MARKETING 1
Table of Contents
Introduction.................................................................................................................................................2
Situational Analysis.....................................................................................................................................2
Digital marketing strategy...........................................................................................................................3
RACE Framework.......................................................................................................................................4
Campaign....................................................................................................................................................5
Recommendation.........................................................................................................................................6
Conclusion...................................................................................................................................................6
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DIGITAL MARKETING 2
Executive Summary
This report is totally focused on the expansion of Spacer company business with the help of
digital marketing. This report includes the current situation of the marketplace along with the
elements of the market which can impact the business operation of Spacer Company. This report
also includes the RACE framework of digital marketing for the company's promotion. This
report also includes the digital marketing campaign that will help the company to increase their
target audience in this segment.
Introduction
Digital Marketing is actually a stepwise process for the marketing of various products in local as
well as international markets. This method covers a huge area as compared to offline
promotional or traditional marketing approaches. This report will focus on the digital marketing
promotion strategies of Spacer Company (Tiago and Verissimo, 2014). Along with promotional
strategies, it is also important to focus on customers’ insight, reach, market trends and handling
with present rivals in the market. To explore digital marketing strategies for the Spacer, RACE
framework will be applied in this report. Spacer Company is actually a marketing place where
individuals are allowed to rent out their extra space of home or yards. This company was
founded by Michael Rosenbaum and is in aim of expanding their business in many countries of
the world. The reason behind this company operation was that many people have enough space
in their homes or yards but they are not aware of how to use that space and this issue has given
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DIGITAL MARKETING 3
birth to Spacer Company. For expanding this business only digital promotion can help to reach
its maximum height (Taken Smith, 2012).
Situational Analysis
For Spacer, the marketplace is an online-rental platform through they can provide number space
for the business purpose to satisfy the needs of the customers. It is actually an online service on
which the home or yard owner can provide their extra space as per the need of the customer
(Smith, 2011). For expanding their business management team is working on traditional
marketing techniques to bring awareness to the public. This objective can be influenced by some
marketplace elements like a market trends market trend, competitors and customer insight.
Market trend
This element actually defines the present conditions of the market in numerous terms and aspects
like financial, technical etc. It also focuses on the market environment and this situation is
helpful in order to carry out analysis, develop correct strategies for the expansion of the Spacer
Company. Marketing trend actually helps every organization to select correct strategies in order
to make the organization sustainable in this vibrant business market (Varadarajan and Yadav,
2009). Hence the Spacer Company must develop to handle this situation. As it is known to
everyone that need is the reason for innovation, the company must use some innovative strategy
to meet the demand of the customers.
Competitors
As we know due to globalization the number of business player has been increasing in the
market. Presently there are numerous possibilities that people are thinking in the same. In order
to avoid this situation, the Spacer Company must form a unique image in the mind of their
potential customers for their quality services because it is only the service part where the
company can make differ from other competitors (Wymbs, 2011). As it is known that today is
the time of social media so the company can make use of this platform to promote their services
in order to catch the eyes of the target audience. This kind of digital promotion will help the
company in achieving cost-efficient marketing operation.
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DIGITAL MARKETING 4
Customer insights
It is known as the changing behaviour of customers in terms of altering trend, market situation,
taste and preferences of the customers. If any person in this world will go on consuming one
product, then soon that person will start developing a hatred for that product which is a kind of
human nature (Chaffey and Patron, 2012). Since customer act as the most impact full part of the
business, the Spacer management must form such a strategy which should be related with the
current and future insights of the potential customers.
Digital marketing strategy
It is actually the way by which the spacer company will be able to reach to its potential
customers for their services or new launches related to services and also can be used in spreading
information related to latest offerings about the services. In present digital marketing is used as
an international trend for promotions because of its powerful impact. Various e-commerce
companies have used this platform for the promotion of their new products (Zott and Amit,
2008). With the help of digital marketing, the Spacer Company will be able to also cover some
of the aspects which were not covered in traditional marketing. Hence, the management of the
spacer company will work on the RACE framework as a strategy to achieve their purpose. Under
this framework the all the important elements are reached to the customers, acts as per the
formation of strategy, the transformation of selected target audience into lead and then finally
engagement process is started with the audience (Jayaram, Manrai and Manrai, 2015).
RACE Framework
Reach
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DIGITAL MARKETING 5
In this process, the marketing team will promote their service with the help of digital marketing
in order to reach to their customers by providing them some offers along with an explanation of
their quality services. It has been seen that many big retail companies use this frame to gain most
of the popularity in the business market (Berthon et. al., 2012). The digital marketing will offer
various tools like search engine optimization that will help the company to maintain their
position in the first page of the Google search. The Spacer can also make use of YouTube ads
which will get display while watching any videos on YouTube which cannot be skipped up to 25
seconds. As it is known that video has more impact on the human mind as compared to listening.
Hence, this will develop a kind of excitation in the mind of the person watching the video and
will go for a try. The company can also make use of email as well as contacts which will be
given by the person during their visit to the company website. In this, the company can send
some notifications related to the latest offering of the company on these points of contacts.
Act
In this, Spacer company can make use of all digital tools which will influence the potential
customer to by their services because of the attractive offers displayed by the company through
their contact points like emails, mobile numbers etc. The company must launch their
membership offer in which the company will provide exciting gifts to their customers like some
kind of discount or benefits (Aaker, 2015). The company can also implement some kind of
earning by recommending another person to joint Spacer service.
Convert
This stage includes conversation part of the process in which lead which is being generated with
the assistance of first and second phase into sales in order to earn some return with respect to
spending. This transformation is not an easy subject for any company; it requires a lot of efforts
from all team members (Assimakopoulos et. al., 2017). The Spacer Company can make use of
promotion campaigns and offers through their online sites. Many retail companies provide the
heavy discount on their products in order to convert the lead into sales or it can be said that
potential customers get converted into loyal customers. The company can make use of offer like
providing varieties along with one day try to offer in which customer can actually get an idea
whether this space is better selection or they are expecting something different. In this, the
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DIGITAL MARKETING 6
company must try to fulfill all the feasible demands of the customer in order to make them feel
proud of their selection (Aswani et. al., 2018). In addition, the customer will be given a full
customer care support in which all the queries of the customer which are related to the service
will be solved on immediate basis.
Engage
In this stage, the company will try to find out the ways to retain their customers for further sales.
Space Company must act as a customer-centric company which will provide various benefits to
its customers which will motivate the customer to remain associated with this company. The
company must form a strong bond of relationship with the customer by providing quality service
in order to make them feel the king of this world (Lucius and Hanson, 2016). Their attitude will
help the company to grow from their current position towards the higher side. The company must
implement a system which will support flexible aspects and will be ready to adopt any situation.
Campaign
In order to target huge audience, Spacer company must go for digital marketing campaign under
which the company will develop an event in which invitation which will send to various target
audience especially student as well as small business owners (Keinanen and Kuivalainen, 2015).
As per many types of research, it has been found that around 47% of this world's population is
connected with the social media and hence it is one of the important aspects where the company
can display their quality service for those who are in need of this service (Adam, 2016). The
company must connect one of the famous personalities as the chief guest of this event. In this
way, the company will be able to attract a lot of crowd for this event due to the fan following of
these stars. In the country like Australia the people are very crazy about cricket plays so the
company can take proper benefit of their popularity and connect them with an event of this
company (Kane et. al., 2015). Then the company must promote all the images and videos of this
event on almost all social sites like Facebook, Instagram etc. The company must start with a
teaser video in which it will display about the attractive portion of these events like famous
personality, crows, shows etc on YouTube. They should make use of YouTube for full video
display of this event in order to gain as many likes as they can and then related it with the
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company sites so that when a person visit any social platform to see this video or images of this
event, they have to go through the companies site. In this way, the company will be able to create
an image in the mind of this visitor through companies site encounters (Oliveira and Panyik,
2015). The company can also make use of PPC to increase their impact on the mind of social
viewers.
Recommendation
For any kind of promotion, it is very important for any organization to understand the exact need
of domestic and internal customers. In case of international aspect, the company must focus on
the branding section of the company so that their logo will be identified as their quality service
and in case of the international or local market the company must focus on the initiatives which
will help the company to have a vast reach in the business market. The company must connect
their business operation with the culture and values of the respected market in which they are
performing their business. The company must be able to connect a social-emotional bond with
the potential customers in order to connect them with the company. Finally, the company must
provide such a quality service so that the person who is availing their service must act as an
advocacy marketer for this company and always have a positive word of mouth which will help
the company to form a unique identity in this dynamic business environment. Company's
positive image in the society will help the company to attain more and more sales not only in the
domestic level but also on an international platform.
Conclusion
Every organization in this current world must possess some kind of competency in order to
sustain in this dynamic world because in this time it has become very difficult to find out the
exact expectation of the potential customers. Due to globalization, the lifestyle of the individual
has changed and this change has also impact on the taste and preferences relating to the products
and services. Hence in this vibrant environment, the Spacer Company must use digital marketing
strategy as an important tool like social media in order to gain the major share of the business
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DIGITAL MARKETING 8
market in their segment. The use of RACE framework will act as an important strategy which
will help the company in expanding their business on the international platform.
Timeframe Budget Activity Impact
6 Months ($ 30,000) Digital Campaign for
international market
presence: In this activity
the company will make use
of digital marketing
promotion with the help of
all digital tools like
Facebook, Instragram,
YouTube etc.
This will help the company to
make its company known to
international business market
and gain popularity.
Every 6
months
( $ 20,500) Connect with local social
community: In this the
company can associate them
with local social working
community by providing
some kind of technical and
money support.
This activity will help the
company in gaining better
image in the eyes of the
community in which company
is working by giving impression
that we do care for our
community.
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DIGITAL MARKETING 9
References
Aaker, D. (2015) Four ways digital works to build brands and relationships. Journal of Brand
Strategy, 4(1), pp.37-48.
Adam. T (2016) 47 percentage of the world’s population now use the internet [online]. Available
from: https://www.washingtonpost.com/news/worldviews/wp/2016/11/22/47-percent-of-the-
worlds-population-now-use-the-internet-users-study-says/?
noredirect=on&utm_term=.ed3b349c8c6d [Accessed 11/10/18].
Assimakopoulos, C., Antoniadis, I., Kayas, O.G. and Dvizac, D. (2017) Effective social media
marketing strategy: Facebook as an opportunity for universities. International Journal of Retail
& Distribution Management, 45(5), pp.532-549.
Aswani, R., Kar, A.K., Ilavarasan, P.V. and Dwivedi, Y.K. (2018) Search engine marketing is
not all gold: insights from Twitter and SEOClerks. International Journal of Information
Management, 38(1), pp.107-116.
Berthon, P.R., Pitt, L.F., Plangger, K. and Shapiro, D. (2012) Marketing meets Web 2.0, social
media, and creative consumers: Implications for international marketing strategy. Business
horizons, 55(3), pp.261-271.
Chaffey, D. and Patron, M. (2012) From web analytics to digital marketing optimization:
Increasing the commercial value of digital analytics. Journal of Direct, Data and Digital
Marketing Practice, 14(1), pp.30-45.
Jayaram, D., Manrai, A.K. and Manrai, L.A. (2015) Effective use of marketing technology in
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applications. Journal of Economics, Finance and Administrative Science, 20(39), pp.118-132.
Kane, G.C., Palmer, D., Phillips, A.N., Kiron, D. and Buckley, N. (2015) Strategy, not
technology, drives digital transformation. MIT Sloan Management Review and Deloitte
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Keinanen, H. and Kuivalainen, O. (2015) Antecedents of social media B2B use in industrial
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722.
Lucius, H.W. and Hanson, J.H. (2016) Consumerism and Marketing in the Digital
Age. American Journal of Management, 16(3), p.41.
Oliveira, E. and Panyik, E. (2015) Content, context and co-creation: Digital challenges in
destination branding with references to Portugal as a tourist destination. Journal of Vacation
Marketing, 21(1), pp.53-74.
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Smith, K.T. (2011) Digital marketing strategies that Millennials find appealing, motivating, or
just annoying. Journal of Strategic Marketing, 19(6), pp.489-499.
Taken Smith, K. (2012) Longitudinal study of digital marketing strategies targeting
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bother? Business Horizons, 57(6), pp.703-708.
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of Marketing Education, 33(1), pp.93-106.
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