Finding the right IMC channels

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Information about Finding the right IMC channels
Marketing

Published on March 7, 2014

Author: TeamPramkaew

Source: slideshare.net

Description

With so many marketing channels, how do we allocate our budget?

Identify the right integrated marketing communication channels Team |Gaurav |Ishan

Snapshot The Problem The methodology The Background The Situation The Insights The Discussion The Solution The Conclusion

The problem TOO many marketing communication channels & Limited marketing budget

The Methodology

Problem discovery Analysis of the Problem Review of Lierature Secondary data Problem Definition Designing a new marketing Model Experts' Opinions To check the feasibility of this new model Improving the model Recommendations Conclusion

The background

The product orientation era

In the simpler time… Lack of variety of products in the market Lack of competitors Lack of options for the consumers WORD-OF-MOUTH MARKETING

The sale orientation era

Competition heated up MORE products, MORE competitors, MORE options

Fighting in the crowded market place Shift of focus to Branding, Communication, Advertising Our product is better than yours

The marketing orientation era

The customer is KING Intense competition for customers Understand the needs and wants of customer

Over the past few decades, there was a very small and little changes in our marketing communication channels Until….

The boom of digital media

Marketing revolution Online marketing has transformed the entire marketing industry. Introduction of many new & exciting marketing channels: Website, search engine, social media etc.

The situation

Print media Social media Television Marketing communication channels Online marketing Radio Mobile

Print Media

Newspaper Newsletter Magazine Posters Billboards Brochures flyers 40% Of total advertising expenditure

Pros Cons • Appeal to certain group of audience • Limited coverage • Higher probability of reaching the target audience • Readers might focus on editorial reports instead of advertisement • Many options to choose from

Radio

Becoming irrelevant Only account for 6.9% of the total marketing expenditures in the year 2012.

Pros Cons • Can target specific group • Low impact due to short duration • Less expensive compare to TV • Is anyone listening to the advertisement?

Television

Pros Cons • Large coverage • High investment • Higher clarity of messages • Low impact due to short duration • Can segment according to programs • Is anyone watching the advertisement?

Mobile

Pros Cons • Instant results • Platform too diverse • Easier to work with • Privacy issues • Direct marketing • Tracking users response • Poor navigation on mobile phone

Pros Convenience Reach Cost Personalization Improve customers relationship • Social media industry • • • • • Cons • Security • Updates • Hidden costs

Social media marketing

Most commonly use social media platforms for marketers 00% 92% 90% 80% 80% 70% 70% 60% 58% 56% 50% 42% 41% 40% 30% 20% 18% 16% 11% 10% 0% 10% 5% 4% 4%

Google+ 2% Most important social media platforms Pinterest for marketers 1% Others 1% Forums 1% YouTube 4% Blogging 14% Facebook 49% Linkedin 16% Twitter 12%

Pros Improved sales Increased traffic Increased exposure Provide marketplace insight • Developed loyal fans • Reduced marketing expenses • • • • Cons • Hacker’s threat • Risk of negative comments • Time-consuming

The Insights

The customer’s shoes

The trusted channel by consumers

The marketer’s shoes

The discussion

Look for consumer behavior pattern to draw a successful marketing campaign. Success of a marketing campaign should be judged beyond ROI. Marketing objectives are needed to be clearly defined before designing a campaign.

“In marketing, there are no hard and fast rules , what may work for one company may not work for another.” “Data collection is of prime importance for a marketer before designing any campaign.”

3 factors to consider for marketing campaign: • Sales goals • Scale of the campaign • Cost of the campaign “Big data gives us the basic market patterns and scenarios but they cannot be relied on to predict future market trends .”

Social marketing as a concept of creating brand awareness is very good; it also is a good medium of receiving and processing the views of prospective customers . “ROI should be measured on both quantitative and qualitative figures.”

Marketing channel choice is based on two primary parameters: Target audience and product market. Internet is the most cost effective marketing channel in today's world. Just having a page on Facebook is not social media marketing. It is a platform to constantly engage and interact with your customers

Use return on marketing investment (ROMI). It measures the incremental sales growth from the marketing campaign considering the contribution margin of the business . Marketers should understand and measure the marketing campaign on the basis of business life cycle.

The solution

http://gitmodel.wix.com/beta

The conclusion

smart marketing—it’s a distinct competitive advantage in today’s ever-changing marketing landscape “Those who respect consumer preference will soon find themselves able to reach consumers in new and more relevant ways across greater number of channels”

Sky is the limit DONE BUT NOT FINISH GOOD BUT NOT GREAT COMPLETE BUT NOT PERFECT There is always room for improvement!

Thank You for sitting through this long presentation

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