Are you an Aspiring E-marketer? If so, Here is the Plan.

"A planned, organized marketing campaign with rotation through a variety of targeted sites, directories and venues is not hard to coordinate, does not need to cost a great deal of money and can generate traffic and sales faster than search engine submissions alone. It takes a bit of research and a solid knowledge of your target customer, but you can plan and implement a simple marketing campaign in the space of a dedicated day."(1) 

As part of the Sales & Marketing strategy, firms must develop and incorporate an E-marketing plan as a road map to guide the direction of the business.  This plan must be measurable, achievable, and clearly defined.  Subsequently, a detailed budget would quantify the route being taken and the appropriate funds being allocated.     

There is a sequence of seven steps which organizations can take to implement a successful E-marketing plan.  The need for feedback at each stage of the plan is essential because this plan requires constant evaluations and adjustments. The subsequent points (supported by Figure 1) outline the correct steps:

1. Analyse the situation of the business, review any existing marketing campaigns, and understand the company's objectives, vision, mission statement.  Be certain the proposed plan will reflect the core values of the business.
2. Conduct a market opportunity analysis (MOA), demand and supply analysis, and a segment analysis.  The findings will determine the fit between the organization and the changing market opportunities (2).  The following descriptors will assist in finding opportunities with the brand being promoted: Targeting, Positioning, Differentiation, Segmentation.
3. An important part of the plan is to set objectives.  Once information is known about the market, the firm can set their goals and expectations.  Examples include - increasing brand awareness, increasing revenues, increase market share, improve supply chain management.
4. Next, opportunistic marketers apply their strategies of services concentrating on the 7 P's (mentioned in the previous blog).  At this stage it is crucial to make required adjustments as it pertains to their clients' needs.  Also worth noting is the importance of relationship building with customers' so mutually beneficial results can occur.
5. Now the planning process is complete and the execution can begin.  The right combination of tactics gathered from the planning process will assist in achieving results.  Take note of the personal assigned to the task meets or exceeds expectations, information-gathering techniques are in place to collect the right information, and there is a sound relationship between departments being utilized.
6. A key element of a successful E-marketing plan is the budget.  Marketers must calculate the return on investment (ROI) and compare it to the costs associated.  Other relevant indicators include returns on the internal rate of return (IRR) and returns on marketing investment (ROMI).  Be conscious of the intangible rewards which might result.  Brand equity, brand awareness, and brand loyalty are difficult to measure but have a significant impact.
7. Finally, we have an implemented plan but were not done.  It is time to evaluate the initial success and readjust if necessary.  Prospective marketers will present their metrics to justify their expenditures throughout the plan.  It is almost certain that all plans require fine tuning and adjustments whether it come from tweaking objectives, initializing more market analysis, or building a better relationship with the client. 

Figure 1 - E-marketing Plan

      
As dynamic and aspiring E-marketers, you should grasp the fundamentals of this plan and apply it when requested.  This sound strategy will serve as a platform for success and you can effectively achieve your E-marketing goals.  I trust you all will have successful futures within your respected fields and this MRKT 2111 class supported your efforts to do so. 
Cited works:
(1) Retrieved from http://sbinfocanada.about.com/od/onlinebusiness/a/netcampaignpp.htm
(2) Strauss, J. & Frost, R. (2009).  E-marketing.  Prentice Hall. New Jersey.

It's more than just the 4 P's, it's a Journey...

Hello MRKT 2111,

We are all very familiar with the Marketing Mix.  The 4 P's have been in place since the 1950's.
I'm not blogging to bore you with the explanations and the jargon associated to this concept.  My goal is to explain that however you position the 4 P's into your marketing plan you must be conscious of the profound changes with the market itself.

Lets begin with the current landscape and what is successful with E-marketing.  We know that Advertising Online, SEO Searches, Mobile Streaming and Consumer Engagement are priorities for  firms to offer their services and/or products effectively, we know that any given day consumers are bombarded with advertising (both online and offline) messages, and we know that effective E-marketing plans incorporate the 4 P's into the strategy.  But what is occurring now is a complete transformation of the market and if you want to be successful, you better understand what is happening and why.
The fundamental change is now the consumers are now in complete control.  Consumers are now buying what they want and with extensive knowledge of your good or service.  They are influenced by their piers and they are empowered.  They are on a journey and the marketer must guide them through the decision making process. 

http://www.youtube.com/watch?v=boAKSvCD8G8&feature=related

So regardless of what P you are offering online, your goal should be about winning over your customer.  This will strengthen brand awareness, solidify reputation, and, in turn, increase sales.

This is the Purchase Funnel.  It suggests consumers narrow the initial consideration as they weigh options, make decisions and buy products.

It is outdated, creates bottlenecks and introduces problems.

This is the concept called the Consumer Decision Journey.  It highlights stages in the decision making process and allows marketers to focus on different aspects of the journey. 

 

Now businesses of all sizes and of various industries can guide their customers through the journey.  Regardless if the firm is selling a product or service they can evaluate the results of their campaign in various stages of the journey and strengthen if necessary.

So regardless if your E-business is marketing through Social Media Platforms, effective OVP's on the home page, targeting Early Adopters, or using the latest IMC metrics the message here is to understand this formula to ensure success.

Lastly, the 4 P's have been updated in this era of awesomeness.  There are actually 7 P's and lots of articles on the Web. Facebook has their 7 P strategy also.  I hope you enjoyed reading my blog.

http://managementfunda.com/7-ps-of-facebook-marketing-mix/#

http://www.entrepreneur.com/article/70824

http://www.learnmarketing.net/servicemarketingmix.htm

You can become awesome - read this book

http://www.ohmygodwhathappened.com/

Hello MRKT 2111,
Here is my blog post for the class.  You can also follow me http://brendanjones.wordpress.com/ or on Twitter @jonesmrkt.  This should be a great class and if you need any help don't hesitate to contact me.  I took MRKT 3311 with Pamela last semester and had a lot of success.  Good luck!