Transcript Internet Marketing Seminar-Workshop Beograd 24. i 25. Oktobar, 2004

Internet Marketing Strategy
e-Marketing
Strategy
Ivan Surjanovic, [email protected]
www.ipowerlab.com
Internet Marketing Strategy
Strategy defines:
1. How to achieve our goals
2. How to respond to opportunities and threats in
the environment
3. How to outcompete rivals in the long run
Internet Marketing Strategy
Management = the art of getting things done!
Internet Marketing Strategy
Marketing = discovering and satisfying
customers’ needs!
Internet Marketing Strategy
“Nine rules of Marketing”
1. Discover target customers’ needs and satisfy them with 4Ps!
2. Discover target customers’ needs and satisfy them with 4Ps!
3. Discover target customers’ needs and satisfy them with 4Ps!
4. Discover target customers’ needs and satisfy them with 4Ps!
5. Discover target customers’ needs and satisfy them with 4Ps!
6. Discover target customers’ needs and satisfy them with 4Ps!
7. Discover target customers’ needs and satisfy them with 4Ps!
8. Discover target customers’ needs and satisfy them with 4Ps!
9. Discover target customers’ needs and satisfy them with 4Ps!
“Creating WOW through Inspiration”
(TEDx - YouTube video)
Strategic Marketing Process
1. Vision
2. Situation Analysis
3. Objectives
4. Strategies and Tactics
5. Implementation
6. Evaluation & Control
Internet Marketing Strategy
1. VISION
“Where do we want to be in the future?"
Vision statement describes future, desired state of
our business / e-business
Online brochure => interactive site with search and
login => e-commerce => web 2.0 => web 3.0
Internet Marketing Strategy
2. SITUATION ANALYSIS
SWOT (Strengths, Weaknesses, Opportunities
and Threats)
5C Analysis: Context, Competition, Company,
Customer, Collaborators
Porter’s Five Forces
Internet Marketing Strategy
3. E-MARKETING STRATEGIC GOALS
To enhance image
To provide information
To generate interest
To promote
To sell online
To deliver (fulfill requests)
To build relationships
Internet Marketing Strategy
3. E-MARKETING STRATEGIC GOALS
Make them S.M.A.R.T.:
Specific, measurable, attainable, relevant, time-based
Examples of online marketing goals:
- Increasing online sales by 10% each month
- Increasing website conversion rate from 2% to 2.5% by
the end of the year
- Increasing monthly website traffic (measured by number
of unique visitors) by 30% in the next month
Internet Marketing Strategy
4. STRATEGIES AND TACTICS
Strategies:
Tactics:
how
what
Strategies:
Tactics:
long term
short term
Strategies:
Tactics:
general, big picture
more specific
Internet Marketing Strategy
GOALS, STRATEGIES and TACTICS (examples)
Goal:
Increase online sales by 30%
Strategy:
Increase customer loyalty
Tactics:
- Social media (Facebook and
Twitter) marketing
- e-Newsletter marketing
Internet Marketing Strategy
MARKETING STRATEGY IS ALL ABOUT STP:
SEGMENTING – TARGETING – POSITIONING!
Market segmentation for online
accounting software
Internet Marketing Strategy
Online segmenting / targeting:
• Demographic (e.g. based on age, gender, income)
• Behavioural (e.g. based on usage or loyalty)
• Psychographic (e.g. based on attitudes)
• Geographical targeting
•Retargeting
Internet Marketing Strategy
Targeting Customer (C)
with Marketing Mix (4Ps)
Perceptual Map
Attribute 2 (e.g.
interactivity of the site)
Competitor A
Competitor B
Attribute 1 (e.g. great
content on the site)
Competitor D
Competitor C
FOUR GENERIC COMPETITIVE STRATEGIES
Cost
Leadership
Differentiation
Focus
Hybrid strategy
(Best-value)
SWOT STRATEGY MATRIX
Internal Factors
Opportunities (O)
Weaknesses (W)
BE AGGRESSIVE:
Use your strengths to take
advantage of great
opportunities
REDESIGN:
Redesign your business, fix or
neutralize your weaknesses in
order to take advantage of
opportunities
MAX - MAX:
MIN - MAX:
Maximize use of strengths Minimize weaknesses - Maximize opportunities Maximize opportunities
External
Factors
Strengths (S):
Threats (T)
DIVERSIFY:
BE DEFENSIVE:
Use your strengths in new Consider divestiture or
markets
liquidation
MAX - MIN:
MIN - MIN:
Maximize use of strengths Minimize weaknesses - Minimize threats
Minimize threats
SWOT STRATEGY MATRIX (Example)
Strengths (S):
- Effective, professionally done
website
- Innovative, high end products
Weaknesses (W)
- Low visibility on search engines
- Lack of e-commerce capability on the
site
- Lack of online marketing experience
- Expensive product
Opportunities (O)
- Growing offline and
online demand for
products
- Growing online sales on
international markets
BE AGGRESSIVE
(MAX – MAX)
- Advertise on Google locally
and internationally
REDESIGN
(MIN – MAX)
- Optimize the site for search engines
- Build e-commerce (shopping basket)
capability on the site
- Hire experienced web marketing
professionals
Threats (T)
- Emerging international
competition with lower
priced products
DIVERSIFY
(MAX – MIN)
- Build an online brand, build
relationships with existing
customers through e-newsletter
marketing
BE DEFENSIVE
(MIN – MIN)
- Outsource part of the web work
internationally
- Partner with or acquire international
suppliers
Product / Market Strategies
Product Growth
Existing
Markets
Market
growth
New
Markets
Existing Products
New Products
MARKET PENETRATION STRATEGIES
PRODUCT DEVELOPMENT
STRATEGIES
Use Internet to:
- sell more to existing customers (better
“stomach share”)
- sell products to more customers
- improve customer loyalty
-improve customer service , convenience,
add value
- better inform and educate customers
Use Internet to:
- increase product range (introduce
new, digital products)
- add value to existing products (e.g.
online manuals, online updates)
- improve payment models (e.g.
subscription)
MARKET DEVELOPMENT STRATEGIES
DIVERSIFICATION STRATEGIES
Use Internet to:
- sell in new countries
- sell to new customer segments
Use Internet to horizontally diversify
into related and unrelated
businesses
Use Internet for (forward and
backward) vertical integration
Internet Marketing Strategy
REVENUE MODEL STRATEGIES
Direct sale of products or services (e.g. Amazon)
Subscription (e.g. Netflix, SurveyMonkey)
Advertising (e.g. Google.com, Metrolyrics)
Commission based (e.g. eBay; also referal marketing websites that affiliate their business with Amazon)
Strategic Marketing Process
1. Vision
2. Situation Analysis
3. Objectives
4. Strategies and Tactics
5. Implementation
6. Evaluation & Control
Internet Marketing Strategy
eMarketing Strategy : Recap
SWOT – O – STP – 4P
Internet Marketing Strategy
SEVEN KEY STRATEGIC DECISIONS
What are your market segments?
Which segments do you want to target?
What is your positioning strategy?
Which of the four generic competitive strategies are you
going to use?
What are your SWOT strategies?
What are your product / market strategies?
What is your revenue model strategy?
Internet Marketing Strategy
Thank You!
Ivan Surjanovic, [email protected]
www.ipowerlab.com