Marketing Strategy and Traffic-Building
This section of your project will discuss your marketing strategy. Your first year you have planned out a marketing budget of between $15,000 and $20,000.
You expect – or hope – that it will generate at least that much in new business. Plan out your e-marketing campaign based upon this estimate, and decide what will be the most effective and cost-efficient way of getting customers to your site. Read the Scott book for traffic-building ideas; also, research traffic-building as well.
The overall goal of this section is to design a marketing strategy that will discuss at least 10 ways in which you will drive traffic to your newly designed website. This should be in the form of a document that contains the following sections:
Define your target market and plans to invest in e-marketing. Establish your overall marketing budget (these are YOUR calls; just keep within the budget range noted above). You may want to discuss your overall philosophy here. The introduction can be very brief.
2. Marketing Objectives.
Explain what the goals of your new marketing strategy are: for example, is it growth? New markets? Customer retention? Revisit the first part of this overall project (the Part 1 you submitted already) and make sure you are in alignment with your earlier plans.
3. Target Market.
Here you will get specific: Who is your customer (both current and new targeted customer)? Remember this is a fictional company, so you have leeway here. Just be realistic – and specific. (Note: “our target market is all former and new customers” is not specific enough).
4. Marketing Strategy.
Define ten ways in which you expect to drive traffic to your new business. Assign, as much as possible, costs for each method. For example, if you will be purchasing a new domain name, do a little research and come up with a reasonable amount. Or do research to find out if you can purchase email lists and provide a realistic estimate. How much will hosting your professional website cost? How to rank number one on the internet: Search Engine Optimization costs.
There are many different options to consider. But do NOT include print ads or other paper-based advertising (flyers, etc). If your e-marketing strategy results in a paper-based method (i.e. a postcard), you need to lay out the e-marketing steps that GOT you to that paper-based method.
Provide one bullet for each method and estimate a cost for each, keeping in mind the overall target figure you stated back in section 1. Within each bullet, provide a brief summary explaining how each strategy will add value. If you use such strategies as a banner ad, a mobile ad, etc, please include a mock-up of it.
What is your anticipated timeline and order for rolling out each of the ten strategies you noted above? Use specific dates, even if you just grab them out of the air. IE, I don’t want to see 2-3 months for x, 2 weeks for y…. actually create a project timeline for me. (Which will be first? What depends upon what? If a new website is launched, obviously strategies related to the new site will have to wait until it is completed – or will they? Your call.)
You may find it helpful to visit some sample marketing plans. Do remember that although marketing plans can be quite extensive, we are only looking for the above five bullets for this section of your project.
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