DDS/assignment 3: Task 2 Part 2

The digital strategy for “Diamond Water”

 

The digital strategy for Diamond Water will include the following tools and their costs that they are predicted to build over the two years:

 

Tool:	CPC	Monthly cost/budget	Yearly cost/budget	2 Year predicted total
Animoto	–	£16.82	£201.84	£403.68
MailChimp	–	£7.65	£91.80	£183.60
Facebook ads	–	£200	£2,400	£4,800
Google Ads	–	£400	£4,800	£9,600
YouTube Ads	–	£200	£2,400	£4,800
Google Analytics	–	free	free	free
LinkedIn Advertising	–	£300	£3,600	£7,200
Total:		£1,124.47	£13,493.64	£26,987.28
Remaining budget:				£3,012.72

This summery shows the tools and the budgets set for them including the totals for both first and second year. The remaining budget of £3012.72 allows for £1000 each year to put into sending out the products to be endorsed by: gyms, health centers, YouTubers, health enthusiasts’ and celebrities.

This would also leave £1012.72 available to cover any fluctuations of things such as VAT alterations.

Each of these choices is explained in the presentation.

DDS/assignment 3: Task 2 Part 1

The digital strategy can be created from a range of tools such as:

• Animoto – a video editing software which allows the user to create professional looking videos through simple drag and drop options and a large range of templates, this costs $22 per month (roughly 16.82 checked January 2019)
• MailChimp- the largest marketing automation platform making it easy to coordinate email campaigns, track social media and collect data on clicks and ROI, this starts at $10 per month (roughly £7.65 checked January 2019)
• Facebook ads – allows advertisements through facebook generating them through a step by step guide and running to a unique budget set by the company
• Facebook promoted/boosted posts – allow the advertisement or post to be brought higher up on the targeted audiences timeline making it more likely to the clicked although the prices for this are not obvious until the campaign is running but using https://fitsmallbusiness.com/how-much-does-facebook-advertising-cost/ it roughly works out at $0.45-$3.77 per click (roughly £0.34-£2.88 checked January 2019)
• Google Ads – online advertising platform created through google allowing for businesses to promote themselves of products, it also allows for the budget to be set by the company rather than a cost per click.
• YouTube Ads – using targeted video adverts within videos to promote the company/ products, but also targets the audience through demographical information or through interests through the information YouTube has collected. Again, it is a personal budget, but they do advise that the average is around £6 per day
• Google Analytics – created by Google it analyses, tracks and reports on web traffic saving the company time trying to decipher this information themselves just by adding the simple code to the website that is generated for them. They offer a free version which is perfect for start-up businesses with the option to upgrade to Analytics 360 but these prices are on quotation.
• LinkedIn Advertising – targeted campaigns designed around a personal budget through; price per clicks (CPC), price per send (CPS) or impressions (CPM) which can be ended at any point with a team of experts on hand to provide support.
• Twitter Ads – there are a few types of ads available on Twitter; promoted Tweets, promoted accounts and promoted trends which are visible to customers even when they are logged out of twitter. They are distinguished by the “promoted icon” which makes a customer feel it is more of a legitimate promotion. Once again it is a customised budget set to per day expenses.
• Endorsement – this cannot be given an exact amount as it is all dependant on who or where the endorsement it happening but can be done by simple product give away for a review.

DDS/assignment 3: Task 1 Part 2

Why does a brand require a Digital Strategy?

 

Companies require a digital strategy to be able to really compete in the world of online sales and recognition, without a solid digital strategy companies face loss of researches and finances chasing ineffective marketing campaigns and targeting the wrong audiences. Digital strategy enables a brand to become as strong as it possibly can as quickly and effectively as possible by appealing to specific audiences by how it is “sold” to them.

 

What is in this Digital Strategy?

 

The digital strategy covers many key areas within the marketing world of branding to ensure a high level of ROI with the lowest possible expenditure giving higher profit margins for the company, some of the main points are;

 

• Targeted Marketing – this allows for campaigns to be set up to target the desired audience through channels such as social media or even promotions into social places such as gyms. This means that all the expense on the advertising should have a high ROI as it is not appealing to a broad cross section of people but rather to just those who are more likely to go out and purchase the product.
• Clear direction and goals – this allows a company to map out the “5 year plan” (depending on how long they want to look forward) where they set out the goals and milestones they want to achieve by certain points (i.e. 5 years). By mapping all this out with everyone involved from directors and marketing even down to designers and manufacturing everyone is aware of the role they play in the company and what time frame they have to work on their expert area, this allows the company to be more organised and constantly moving forward as they all work together efficiently.
• Competitor analysis – this allows companies to assess what their direct competition is doing for its marketing and branding and look for anything that they are not utilising to give them the edge over the competitor to dominate the market.
• Analytics and reports – many of the tools available for online campaigns allow you to view the reports on how effective the campaign has been and how to improve on these numbers, but it also allows for a company to be able to pull a campaign if it is not being effective which saves the company money being able to cut it off without large upfront costs for something that is not having the required response.

DDS/assignment 3: Task 1 Part 1

For task 1 I have to create a digital strategy with a maximum budget of £30,000 for a new brand solely selling one very basic product, for this I have chosen to create a brand for a new bottle water.

Product:

‘Diamond Water’

Its USP’s are:

“Celebrities want it for its unique and high fashion look making it not just another bottle of water but the newest most desired accessory to be seen with but due to its incredible price is attainable by all making it a new fashion staple for anyone and any look.”

“Our bottles are made from 80% recycled plastic, making us one of the most environmentally friendly bottles of water to grab on the go.”

Target audience:

This was broken down into the following demographical factors to generate the ideal target audience:

• Age – our product identifies with mainly over the age of 16 due to its appeal but there is no age restrictions on the product
• Life stage – inapplicable
• Gender – our product is gender natural to be appealing to all
• Sexual orientation – inapplicable
• Lifestyle – a big factor, it is appealing to those who live or love the extravagant things in life, it creates a high fashion item out of an everyday over looked product both of these will lead it to become an influential product across lifestyles.
• Ethnicity – inapplicable
• Residence – inapplicable
• Income & Wealth – initially it will appeal to more the medium to high income brackets due to been a little more expansive than just the average bottle but once demand starts to peak offers, events and promotions will allow it to become available to all.
• Education – inapplicable
• Relationship status – inapplicable
• Family – it is a product that all the family will want and can have but initially will be more aimed towards empty nested families and those with surplus income.
• Disabilities – inapplicable
• Profession – inapplicable

This generates the perfect target audience to be:

Those aged over 16 who have an interest in fashion and saving the planet, they have a little more surplus income to splurge on the luxury our brand creates and are highly influenced by celebrity endorcements.