Chapter 3 - The E-Marketing Plan-D

E-Marketing Plan Overview

• The E-Marketing Plan serves as a comprehensive guide for the formulation and implementation of a firm’s e-marketing strategies.

• It connects the firm's e-business strategy with technology-driven marketing efforts.

• The plan acts as a roadmap, guiding the firm, allocating resources, and adjusting strategies as needed.

Learning Objectives

• At the end of this presentation, learners should:

  • Understand the nature and importance of an e-marketing plan, along with its seven steps.

  • Identify and structure an e-marketing objective using an objective-strategy matrix.

  • Differentiate tasks performed by marketers during e-marketing strategy creation in tiers 1 and 2.

  • Recognize key revenues and costs evaluated during budgeting in e-marketing.

The Evolution of Twitter

• Initiated as an idea in 2006, Twitter quickly became significant in web traffic and social media engagement.

• Gained traction at the South by Southwest festival in 2007 when text messages were broadcast on large screens.

• Raised approximately $57 million in venture capital.

• Explores Twitter's business model and revenue sources.

Current Status of Twitter

• Jack Dorsey's first tweet sold for $2.9 million, emphasizing the monetization of digital assets.

• The iconic tweet, "just setting up my twttr," was sold for charity to a Malaysian businessman.

• Transacted using ether cryptocurrency, demonstrating modern digital transactions.

Role of Information Technology in Marketing

• Information technology assists marketers by:

  • Building revenue streams.

  • Lowering operational costs.

  • Enhancing competitive positioning in a global market.

The E-Marketing Planning Process

Description

• The e-marketing plan provides a blueprint for strategy development and implementation.

• Critical components include:

  • Linking e-business strategy with e-marketing strategies.

  • Legal, ethical, and technological considerations.

  • Competitive analysis and market-related factors.

Types of E-Marketing Plans

• Napkin Plan: A quick, informal strategy often jot down on paper, suitable for entrepreneurs.

• Venture Capital E-Marketing Plan: A thorough and structured approach required for startups aiming for long-term success.

Seven-Step E-Marketing Plan Framework

Step 1: Situation Analysis

• Evaluates environmental factors through SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis.

  • Key elements include:

    • Legal considerations.

    • Technological advancements.

    • Market dynamics.

Step 2: E-Marketing Strategic Planning

• Identify opportunities to establish e-marketing objectives through analyses:

  • Market Opportunity Analysis (MOA).

  • Demand & Supply Analysis.

  • Segment Analysis to find profitability and market potential.

Step 3: Define Objectives

• Objectives should specify:

  • The task to accomplish.

  • Measurable outcomes.

  • A defined timeframe.

• Common objectives may include:

  • Increasing market share, blog comments, positive feedback, sales revenue, and database size.

Step 4: Develop E-Marketing Strategies

• Focus on integrating the 4 Ps (Product, Price, Place, Promotion) and relationship management:

  • Product: Strategies related to merchandise and content.

  • Pricing: Dynamic pricing approaches.

  • Distribution: Direct marketing and digital business models.

  • Marketing Communication: Strategies to connect with customers.

Step 5: Implementation Plan

• Tactical execution of marketing mix strategies to ensure objectives are met:

  • Relationship management tactics.

  • Organizational structure for marketing.

  • Techniques for information gathering and customer feedback.

Step 6: Budgeting

• Develop a budget to outline expected returns on marketing investments:

  • Perform cost/benefit analysis and ROI calculations.

  • Estimate total marketing investments and related costs.

Step 7: Evaluation Plan

• Continuous assessment of marketing strategies is crucial for success:

  • Establish tracking systems to measure outcomes against objectives.

  • Use specific metrics to justify marketing expenditures and show how intangible goals contribute to overall profitability.