DMKT 305
Table of Contents
Section 1: Enterprise Marketing Management Plan
Section 2: Key Performance Indicators
Section 3: Data Driven Web Analytics Plan
Section 4: Search Engine Optimization Plan
Section 5: Pay-Per-Click Plan
References
Section 1: Enterprise Marketing Management Plan
An Enterprise Marketing Management Plan
An enterprise marketing management plan is generally associated with keeping the business on the right track of success through removing all the challenges and obstacles of the market when selling the products or services. It is known that enterprise marketing is a continuous effortthat is generally used by a large-scale business in terms of attracting and securingpotential and new customers or clients for a long-time(Sweeney, Dorey& MacLellan, 2015).In the enterprise marketing process, it is necessary to generate a high level of creationof new leads through maintaining the existing customer base in the market.
Therefore, as the business of an enterprise grows, the marketing strategy would also need to grow in case of facing new challenges in the business. There could be some biggest threats in growth of an enterprise, such as misalignment between sales and marketing, as well as lack of visibility in the communication channels. These are few of the cases that can be possible in enterprise marketing (Sweeney, Dorey& MacLellan, 2015). At this stage, it is necessary to tackle these challenges through effective marketing management plan of the enterprise to maintain success of the business through effective sales of products or services. Now, this paper is taken to describe about the case study business, offline marketing methods, and proposed online marketing methods to increase knowledge and understanding. These can be described as below:
Case Study Business
This business is associated with online retailing in which the main product of this company is shoes. This is an existing company named, ALDO that isa leader in footwearand accessories in the USA and Canadian market. ALDO sales shoes or other footwear products online with strategic marketing plan (ALDO, 2017). However, it has retail stores also around the globe to make its business efficiency better for the customers. The ALDO is specifically dedicated towards providing high level of satisfaction to the customers through maintaining quality and cutting-edge trends. The prices of products of this company are affordable on its website. ALDO also adopts a good strategy to market the products through communication with customers via email. ALDO wants to increase the size of the online retailing rather than expansion of stores at the global level.
The marketing management plan of the ALDO is competitive in the market that can be seen as launching various types of program for the customers to achieve the goal. ALDO was very concerned about the efficiency of the products while collecting feedback from the customers (ALDO, 2017). Based on this feedback of the customers, ALDO decides to encourage accurate data while retailing online of the shoes products collected from the stores. However, the negative responses of the customers evaluate the outcomes of the performance of the employees on the regular basis.
Offline Marketing Methods Currently Used by ALDO
In the marketing management plan of the ALDO in online selling of the shoes products, currently, it has adopted some offline marketing methods to make the sales and profits very effective. In this, the offline marketing methods that are currently used by the ALDO can be considered as print publications, cold calls, and direct mails. In print publications, ALDO prefers magazines and newspaper, as well as journals to increase the brand visibility and awareness regarding the products (Popov, 2012). It showcases the expertise of the company to attract customers and motivate them towards online purchasing. The print publications are associated with the target audience as the reputable information source. Further, in cold calls method, ALDO shows a personal touch with interested buyers in which it responds instantly with a concrete reason. Cold calls show a great way to reach out towardsthe potential marketing partners as a collaboration opportunity.
Now, direct mail is another method that utilized by this company specifically for getting more potential customers. It is known that direct mailiscostlier than the online marketing, but it is very effective tool to generate lead for the online purchasing. Most of the audience or customers appreciate receiving direct mail from the company. This is because of the more personalized approach for the target audience (Popov, 2012).However, this practice of sending direct mail to the target audience for the marketing purposes is no longer existence. But, most of the customers or members of target audience prefer direct mail communication sending by the company than the other methods.
Proposed Online Marketing Methods
The proposed online marketing methods of the ALDO can be assumed as social media, online advertising, and video. The social media, such a Facebook, Twitter, etc. are very effective in online marketing because of easy access towards huge volume of online users. The social media marketing is cost effective than the traditional marketing that attract marketers to take benefits of social media (Sweeney, Dorey& MacLellan, 2015). In the present scenario, social media is utilized to cover those areas of the world that cannot be covered by other methods for marketing of the products.
At the same time, online advertising is also known as online marketing that use Internet to deliver promotional messages of marketing to the consumers. This is effective to increase online sales for the products of the company because of the unwanted distraction of the consumers when advertised the products online. Online advertising involves a publisher and advertiser that integrate the advertisement by their knowledge and understanding. Further, video is also an important proposed method for the online marketing of the products. This is because of the interesting content of the advertising that users feel flexibility while picking and choosingtosee the message.
Video advertising for online marketing provides right message in an engaged manner in order assistand striking the right balance between brand promotions and satisfying the curiosity of the customers associated with the products.
Case Study Business and Integrating Marketing Methods
This case study business of ALDO would effectively integrate marketing methods by utilizing them in the marketing management plan. These marketing methods can protect from the challenges and other obstacles, such as competition and cost of the marketing. This case of the business would integrate these marketing methods through analyzing the effectiveness and measurement of the online sales improvement than previous record of the sales data (Ortega, 2014). The most effective marketing methods can be implemented in the marketing management plan of the case study business with the help of suitable and feedback of the customers.
However, it is important to consider about the strengths and weaknesses of the marketing methods before integrating in the marketing management plan. The strengths and weaknesses of the marketing methods would help to make a base of an effective management plan for a long time in online sales successfully (Ortega, 2014). There could be an environment of word-of-mouth in which this case study business can achieve a successful online sales advantage with competitive leads in the market.
Section 2: Key Performance Indicators
Key Performance Indicators (KPIs) Process Plan
The Key Performance Indicators (KPIs) Process Plan is considered as an important concept of the business plan either it is general business or e-business. KPIs business plan is generally utilized by the organizations through which managers and other employees usually estimate the effectiveness of several functions and processes because these functions are important in the business operations to achieve goals of the organizations (Caia et al., 2009). Now, in the consideration of e-business plan of the ALDO business case that is a leader in footwear and accessories in the USA and Canadian market, the Key Performance Indicators Process Plan can be created as below:
Tactical Business Goal
In a KPI-driven business process plan, tactical business goal is established to accomplish the strategic plan of the organization basically in the e-business process plan. Therefore, tactical business goals are the outcomes that must be achieved by the divisions and departments for the organization to reach towards overall goals of the business plan. Tactical business goals are generally made by top level management for each department that help to increase reputation of the most important brand in the market (Caia et al., 2009). However, the tactical business goal can be achieved when effective marketing strategies are adopted by the organization. The tactical business goals of the KPI-driven business process plan are specifically associated with customers, leads, and sales that can be described as below:
Customers: The tactical business goal specific to the customers is considered as the interim steps that usually needed to achieve in the long-term goals. It is decided to maintain customers’ volume potentially with the business. Therefore, the tactical business goal is to increase number of potential customers online for the ALDO and fulfill their needs and expectations with the quality products every time while they purchase.
Leads: Leads are generally associated with taking competitive advantage than the other organization in the market. In the e-business, there is also tough competition to take leads in terms of revenue, market share, and strong customer base. ALDO has also a goal regarding taking leads in the e-business (Caia et al., 2009). Therefore, the tactical business goal is to achieve number one position in the online retailing of shoes products in the world till the year 2020.
Sales: Sales is the base of any business and without it a business cannot be successful in the market. Online business of e-business also attempts to sale its products to the customers by fixing targets on the schedule basis. Therefore, the tactical business goal of the ALDO is to increase sales of the shoes products online and expand the business at the global level with huge customer base.
Target KPI Concepts
The KPI concept is generally associated with a measurable value within an organization that generally demonstrates how a company can achieve key business objectiveseffectively and efficiently. In other words, the KPI concept has multiple levels that utilized by the organization to evaluate the success rate while reaching towards the targets. Therefore, it can be stated that a high-level of KPIcan focus on the overall performance related to the enterprise (Parmenter, 2015). In case of low-level KPI, organization generally focuses towards processes of the departments that works in the market effectively and efficiently, such as sales, and marketing, as well as a call center.
At this stage, there are various targets in the KPI concepts for the ALDO in the market that is different aspects while achieving KPI for the organization. Therefore, it can be defined as “The target KPI concepts are the need of the organization to communicate performance level that are trying to achieve in the e-business plan.” These target KPI concept can be considered as project rate of return (PRR), break-even point (BEP), incremental sales (IS), working capital (WC), and sales growth (SG), as well as return on investment (ROI) (Parmenter, 2015). Apart from these target KPI concepts, the other can be considered as low-hanging fruit, and long-term investment, as well as sales revenue, and customer value.
Brief Explanation of Each KPI
KPI is usually termed as a measurable value of the outcomes that presentsthat how effectively an organization is achieving the key business objectives. Therefore, organizations in the competitive marketplace use KPIs toanalyze or assess their success at the reaching targets. In this concern, there are some types of KPI for the e-business of the ALDO shoes that can be used quantitatively measure the achievement of defined tactical business goals. Now, these KPIs can be explained as below:
Sales KPI: Sales KPI is the main part of the ALDO to run e-business successfully. Sales KPI can examine sales growth and average profit margin every year to measure inputs and outputs of the business. In this, sales KPI would also examine sales brooking and coming sales opportunities for the company to take right decision in online business expansion (Reima,ParidaaÖrtqvista, 2015). Now, sales KPI would be used to quantitatively measure the achievement of defined tactical business goals through cultivating a data-driven culture within the organization and sharing the right performance indicators to the sales department.
Retail KPI: The retail KPI is generally related to the selling more shoes products of the ALDO and retaining more customers for the future consideration. Therefore, customer retention and point of purchase is the main consideration of the retail KPI to measure revenue from existing customers over a given period of time (Reima,ParidaaÖrtqvista, 2015). However, cost of goods sold and customer satisfaction should be considered by the ALDO in e-business of the retail KPI. Now, retail KPI would be used to quantitatively measure the achievement of defined tactical business goals, such as sales and increasing customers with the help of understanding each and every thing of the business, including competition and performance always.
Financial KPI: Financial KPI is the most important aspect in the e-business plan of the ALDO to grow the business with effective monitoring of the fiscal health. Financial KPI usually depends on the generating revenue with managing finances in responsible manner. Therefore, it is necessary for the organization to track current ratio and debt-to-equity ratio of financial condition of the company (Reima,ParidaaÖrtqvista, 2015). The working capital and profits and loss report must be analyzed by the ALDO to know its overall financial capabilities in the competitive marketplace. Now, Financial KPI would be used to quantitatively measure the achievement of defined tactical business goals, such as leads through influencing potential investors and customers as providing information about the financial data and performance of the business.
Formula for Each KPI
To define and clearly showing the KPI of the company, formula must be taken in order to measure the performance of the e-business. Now, each KPI formula can be written as below:
Formula of Sales KPI: A positive sales growth percentage is basically termed as good sign of business that is find out over the specified time of the business. Therefore, the formula of sales KPI is:
Sales KPI in % = Total Units Sold/BOM (beginning of month) Inventory
The percentage of sales that decides growth of the business is calculated with the total units selling of the products during a period by dividing inventory in the same period of time (Chamorro et al., 2003). The KPI is derived based on the differences between target goal and achieved result.
Formula of Retail KPI: Retail KPI usually tracks the inventory turnover through analysis of sales of the products during a defined period of the company. Most of the retailing KPI is related with tracking metric annually. Therefore, formula of retail KPI can be considered as below:
Retail KPI = Total Cost of the Goods Sold / Average Inventory in a time period
It is known that retail KPI is important to measure revenue. It provides good insight about the total sales of the products. Therefore, company can analyze the inventory levels when it is either too large or too small. Retail KPI specifically helps to increase the overall efficiency through reducing the costs of the inventory and increasing profits.
Financial KPI: Financial KPI is the frequently used metrics to analyze performance of the organization. It specifically measures the financial performance on the schedule basis and supports the business plan of the organization based on outcomes. Therefore, a most important formula of financial KPI can be assumed as below:
Total Revenue = Total Quantity of the Products x Price of the Product
Financial KPI is calculated based on various aspects to find out the revenue of the company. It differentiates the performance based on tactical goals and outcomes on the annual basis (Chamorro et al., 2003). However, financial KPI suggests the organization to focus towards increasing sales and customers base to improve revenue.
Section 3: Data Driven Web Analytics Plan
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Section 4: Search Engine Optimization Plan
TBD – delete this line when section is completed
Section 5: Pay-Per-Click Plan
TBD – delete this line when section is completed
References
ALDO (2017). About ALDO. Retrieved from:
Popov, A. (2012). Case Study. ALDO. Retrieved from:
Sweeney, S., Dorey, E. & MacLellan, A. (2015). 3G Marketing on the Internet: Third-Generation Internet Marketing Strategies for Online Success. USA: Marketing Publications.
Ortega, E. (2014). The Secrets to Building a Successful Online Business. USA: Lulu Press, Inc.
Caia et al. (2009). Improving supply chain performance management: A systematic approach to analyzing iterative KPI accomplishment. Decision Support Systems, 46 (2), 512–521.
Chamorro et al. (2003). A framework to create key performance indicators for knowledge management solutions.Journal of Knowledge Management, 7(2), 46 – 62.
Parmenter, D. (2015). Key Performance Indicators: Developing, Implementing, and Using Winning KPIs. USA: John Wiley & Sons.
Reima, W., Paridaa, V. & Örtqvista, D. (2015). Product–Service Systems (PSS) business models and tactics – a systematic literature review. Journal of Cleaner Production, 97 (15), 61–75.
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