Develop a Marketing Plan for Jewelry Store
This week, you will be responsible for creating a Pay-per-Click (PPC) Plan of 4–5 pages. For this portion of the e-Business Plan, you must include the following:
At least 2 references cited and APA attachment will show what’s going on to date
Abstract
We will be using this document throughout this course to satisfy the individual project requirements of each week. As described in the UNIT 1 IP, this document has been formatted and will be modified each week with the needed material for that week. This document will follow the development of the plan for an existing business to merge offline and online marketing methods for more exposure and possible profits.
MARKETING PLAN FOR JEWELRY STORE 3
Table of Contents
Week 1: Enterprise Marketing Management Plan
Introduction of Unique Design Jewelry………………………………………… 4
Offline Marketing Methods……………………………………………………….4
Online Marketing Methods…………………………………………………………5
Integrating Marketing Methods……………………………………………………5
Week 2 Key Performance Indicators (KPIs) Process Plan
Tactical Business Goals……………………………………………………………6
Target KPI’s……………………………………………………………………….7
Week 3: Data-Driven Web Analytics Plan
Strategic Goal Statement …………………………………………………….9
Conversion Goals…………………………………………………………….13
Google Dashboards………………………………………………………… 13
Metrics and Analytics…………………………………………………………15
Week 4: Search Engine Optimization (SEO) Plan
Sitemaps ……………………………………………………………………… 16
Proposed Metatags…………………………………………………………… 18
Types of Tags……………………………………………………………………19
Keywords proposed…………………………………………………………….19
Goal Statement (USP)………………………………………………………….20
Title and Descriptive Tags………………………………………………………20
Free keyword ranking tool……………………………………………………….21
References…………………………………………………………………… 23
Introduction to Business
“Unique Design Jewelry” designs and manufactures titanium jewelry with unique designs for every piece made. Jessie Archer designs consist of rings, earrings, bracelets and necklaces. They are like nothing ever seen, as each piece is truly a special designed work of art. This jewelry will appeal to anyone with sensitive skin, since titanium is hypoallergenic, making this perfect for earrings, necklaces and bracelets. Jessie will be working out of her home and makes use exhibition / shows, and specialty jewelry retailers as a distribution channel. For the first eight months she will be operating on her own. At the eighth month she plans to look for a sales representative to allow more time to create and produce the jewelry
Offline Marketing Methods
Jessie already attends flea markets and other public events that are booking vendors. She has visited the local jewelers to inquire about acquiring some of her more unusual pieces. “Unique Designs Jewelry” is a simple start up business that is ran out of the owner’s home for now. Marketing is needed to make more of the public aware of the remarkable pieces of unique designs made with titanium. There are a couple of other ideas for offline marketing such as business cards left everywhere. (Schock, 2017). She can donate a couple pieces of jewelry to any local charity auctions. The winners will put your product or service to use, and you could possibly gain referrals and visibility out of this plan. (Schock, 2017). Newspaper ads and posters passed out to retail stores that have bulletin boards are a few more areas to think about when utilizing marketing methods.
Online Marketing Methods
Jessie has decided it is time to expand “Unique Designs Jewelry” by integrating some online methods. With help of her advisor she hired, the first step will design a website to promote her jewelry. This website will display a wide range of jewelry styles, creations. It will provide a wide area of customer service from answering question, order taking and warranty repairs. She will have competitive pricing to provide the consumer with a good value for handmade jewelry and the craftsmen with a fair profit. (Howes, 2013) The website will include a POS using different payment methods. Next is to set up the site on all search engines like Google and Yahoo, it is critical to make sure your website can be seen and noticed. They will publish videos of how the jewelry is created and how she determines the designs using YouTube for even more exposure and recognition of not only her designs, but of her as a person. (Howes, 2013). This will let people realize the passion she has for the jewelry she creates.
Integrating Marketing Methods
The truth is, most businesses require a combination of marketing strategies to increase the potential of the marketing and advertising for the business. (Roesler, 2014) Jessie Archer sole owner of “Unique Designs” decided that she is ready to take her business to the next level. Using videos on YouTube is a very effective way to reach people who do not watch as much tv as other people. Advertising on social media enables her to reach the target audience with marketing messages. (Roesler, 2014) Along with the website she will still use business cards and take out ads in local newspapers. In the end, she will be using a combination of offline and online methods to increase the potential goals in her marketing endeavor.
Week 2 Key Performance Indicators (KPIs) Process Plan
Tactical Business Goals
“Unique Design” owned and operated by Jessie Archer has decided to use offline and online strategies to promote the special pieces of jewelry she designs and creates herself. Like any business owner, she has some goals she would like to reach and the ways to be able to attain those goals. This can be done if the proper areas of the business are monitored, analyzed and develop a plan to reach these goals. The following are some of the goals her marketing advisor has agreed to assist the advancement of her company.
KPI Measurement
Explanation
Formula
Increase social media buying rate
Using social media helps by highlighting the company’s products. It builds more trust by using social media.
Social Media buying rate=total number of sales via the company`s social media/the total number of people who like the company`s social media account*100
Increased brand awareness
Social Media helps people obtain more information about the company`s products from the company`s website
Increased brand awareness=The total number of customer feedback on their website/ the total number of web traffic *100 (((Mayergoyz, Bertotti &Serpico,2014) Comment by confar5331:
Target KPI’s
KPI Target
KPI Goal
Exp1anation
Formula
How each KPI Target will achieve KPI Goal
Profit
Increased profit rate
This KPI target is the most important performance indicator. Gross profit and net profit are analyzed.
Profit rate =Company Income minus cost of production
This KPI target helps increase the company`s sale. High profit means high sales
Project rate of return
Increased rate of return
This is the rate the project is expected to return its capital or initial investment
Internal Return Rate =NPV of cashflow -Initial outlay
Used in deciding or choosing between two viable projects
Total Cost
Low cost of production
Measures the cost of the product production
Total Cost=Variable costs +Total Cost (Stewart, Flanagan, & University of Western Sydney.2013)
Low cost of production raises the profits
Break-even point
Early BEP
The point where total revenue is equal to total cost
BEP=Total revenue=Total cost
Target helps to determine required output and labor needed for production
Customer Retention
High Customer Retention
This target is measured by customer score and repeat purchasing.
Customer retention rate = customer repeat purchases and total of customers
This target helps measure the web traffic goal. High customer retention means the customer trust the company`s product.
LOB Efficiency measure
Increased rate of efficiency
The higher the number of pieces produced the better
Rate of Efficiency=The number of pieces produced by the hour
This KIP target measures how much product is produced daily
Reduction of product defects
Reduction of defective products rate
Target measures the rate of defective product. The lower the defects the better.
Defective rate = number of defective product/ total number of pieces produced
This target assists in measuring the sale KPI goal. Reduced defects rate brings the cost of production down
Number of new customers
Increased number of new customers
The number of customers the business has gained or lost
New customer rate =new customer/ The total number of customers
This target assist in measuring brand awareness goal
Employee Satisfaction
Increased employee satisfaction
Happy employees work harder. Most organization measures employee satisfaction
satisfaction rate= the total number of units produced per unit in one year/ the total number of employees
This target assists in measuring the sales KPI goal. High employee retention increases production rate thus a higher sale
Employee turnover rate
Reduced employee turnover rate
An organization takes the number of employees who have departed from the organization and the current total number of employees
Turn-over rate= the number of employees who quit from work-place/average number of employees
Reduced employee turn-over rate means their high workers retention this bring sales KPI goal to higher level
The above areas of the KIP analysis focus on some of the main goals of the company on the quest to gain more recognition for the product.
Data-Driven Web Analytics Plan
Tactical Business Goals
Jessie Archer is the sole owner of Unique Design a small in-home jewelry shop. She has been working with a marketing advisor to make her name and brand be recognize through a website and social media. They have come up with some strategic goals to continue growing her company. The goals they are trying to obtain should make her and Unique Design a trustworthy and successful business. Here are the main goals.
Acquire New Customers
Action plan: Leverage insights from a variety of sources, including online and offline transactions, marketing activities, service interactions, social media, and even data from devices based on Internet of Things (IoT) technology. Engage with customers
where and how they prefer – online or offline, mobile, social, or chat – and deliver
consistent experience through all these touch points. (sap.com, 2017)
Budget: To harness new technologies such as machine learning and the IoT
in or to gain intelligence and efficiency in our customer acquisition processes. To apply
this stance we will need to spend approximately $1,000 to acquire for new technology
needed to acquire the results we are looking to obtain.
Benchmark: Unique Designs will be looking to acquire more customers by
the use of social media outlets specifically the outlets our main competition in
town Smith and Smith Jewelers are not using. And any other sources that gives
insight to what is needing to increase customer count.
Time-Frame: After implementing the new technologies we are looking to see a
continuing rise of new customers in the next six months by 15%.
Improve Revenue Growth
Action: To gain customer insights using analytics to provide relevant cross-selling and up-selling opportunities. Reduce the risk and cost associated with tackling new market opportunities by taking advantage of cloud technology that can quickly scale with your business needs. Close deals faster by taking advantage of collaboration technology such as video conferencing and social collaboration platforms. (sap.com, 2017)
Budget: The only thing affecting the budget is the cost of the cloud
technology when decided on the cloud service we are going to use, since the
prices vary according to services needed.
Benchmark: The way to improve revenue growth will be to use cloud technology,
and using incentives such as limited-time offers to increase traffic and attract long-term
customers. By using holiday sales to online daily deals, these offers give customers the
chance to try out products they normally may not seek out and gives them the satisfaction
of getting a good price. We will do these things in order to compete with Smith and
Smith Jewelers.
Time-Frame: An increase in revenue of 5% after using all the methods
mentioned in the above areas after 6 months and an increase in revenue of 15% after
the first year.
Promote Customer Loyalty
Action: Listen to our customers. Monitor social media conversations and make it easy for people to contact you with issues or feedback. Make the after-sale customer experience feel personal by providing service teams with a comprehensive view of customer details and previous interactions. We will start offering discounts and special prices for returning customers. We will also utilize surveys through email. (sap.com, 2017)
Budget: It will cost $500 for a 2-member part-time service team -customer service employees each week. This is along with $300 dollars a month with the discounts offered to returning customers the amount for the discount could vary month to month.
Benchmark and Timeframe: Continuously monitoring customer views and comments and would like to maintain at least a 95% customer serving rating, reaching this goal in the first six months.
Nurture Innovation
Action: This goal is to leverage analytics for rapid feedback on what’s working and what’s not working to ensure that your innovations are moving in a positive direction.
Closely monitor new market developments, including what competitors are doing, to stay aware of new opportunities. (sap.com, 2017)
Budget: This budget will depend on any actions needed to match competitors moves. With all the new innovations used by the company now, the areas needing attention will be known
Benchmark and Timeframe: Over the next 3 months the sales will focused on competing with the competition and continue to watch trends. Current prices for titanium jewelry:
Increase Traffic to Website
Action: Building your brand and getting your site in front of people: we will do this using these methods: Advertise using paid search, social media advertising and display advertising. One of the best ways to increase traffic to your website is to use social media channels to promote your content. (sap.com, 2017)
Budget: By allotting about $750.00 on advertising promotions to attempt to increase website traffic and making our products know in the field of jewelry design.
Benchmark and Timeframe: The need to experience an increase of web traffic by 15% after three months and 25% in six months leading to 50% by the end of the year.
Enable Growth While Maintaining High Quality
Action: Develop a technology road map to support the business growth and help achieve the digital transformation goals, giving a competitive edge over
companies that aren’t as innovative. This will be done by analyzing performance in real time,
compare actual results against a forecast and proactively identify areas of improvement. Simplifying
processes by integrating software across purchasing, finance and accounting.
Budget: The company is expecting to spend $500.00 on newer software for money
management, $400.00 to obtain analysis software. When all the goals of the company are put in
place, the total this company has spent will be real close to $6,000.00
Benchmark and Timeframe: All the goals of this company will be implemented in phases, three months, six months and nine months. At the end of the year we are looking for total revenue to be $30,000 dollars.
Conversion Goals
Goal 1: Traffic count = Times site was viewed
Goal 2: Pages Viewed=Viewing all pages of the site
Goal 3: Purchases= Products bought directly from site.
Goal 4: Demographics = Areas of the country the traffic originated
Dashboards
1.
2.
3.
4.
URL`s
These are the tracking URL’s that will used by Unique Designs
1. https://www.uniquedesigns.com?utm_source=Twitter&utm_medium=cpc&utm_campaign=Summer%20Fling
2. https://www.uniquedesigns.com?utm_source=Facebook&utm_medium=banner&utm_campaign=Summer%20Fling
3. https://www.uniquedesigns.com?utm_source=Pinterest&utm_medium=banner&utm_campaign=Summer%20Fling
4. https://www.uniquedesigns.com?utm_source=YouTube&utm_medium=banner&utm_campaign=Summer%20Fling
Metrics and Analytics in Business
Both metrics and analytics are used to improve marketing value. A metric is
considered informational, counting website traffic and conversion rate. Analytics involves applying statistics and math to see patterns in data. (Aaserud, 2015) Marketers use analytics to create models to understand, monitor, predict customer behavior, optimize channel decisions and understand the impact of a campaign and understand performance. Metrics and Analytics both play a part in the over all success of any company. Ultimately, metric analytics will help tell the company:
Where it has been
Where it is heading
Whether something is going wrong
When the organization reaches its target (Aaserud, 2015)
Unique Designs will use both metrics and analytics to meet the requirements of the conversion goals named above.
Search Engine Optimization (SEO) Plan
Sitemaps
Unique Designs
Jessie Archer designs deals with the unique design jewelry and needs a proposed website that will improve the sales of its products by using data driven web analytics plan, also jester achier who is a sole proprietor is working closely with his marketing advisor to improve her name and brands to be recognized through a website and the social media, thus improving her sales.
How website sitemap improves search ranking
A site map is a model of the website contents designed to help the both the users and the search engines to navigates the site. The following are ways in which the website site map can improve the search ranking, the first one is that the individual can set the title for each page of your website, this is very crucial because the search engine uses this information to show and rank your website pages. ( Cui, & Hu,2011), Moreover the Google software can generates titles automatically for each of your pages, but the title page to be search should not be too long. Secondly is that website site maps helps in the page description of the website , most of search engines do not put much weight on the description when matching to the search queries . Therefore, it is useful to set a description otherwise the search engine will simply select the guess work of the page description from the actual page text. The third way on how the website site map improves search ranking is that it changes the frequency, the sitemap itself will allow you to trace how frequent the page is changed, always the accepted values are hourly, daily, weekly, monthly, yearly and never. The fourth way of improving the search ranking is by priority in that sitemap can allow the user to give the priority of each page, since search engines do not have unlimited time to investigate all the pages in the website, also you can use the priority to highlight the pages on the website. Lastly sitemap can improve the search ranking by usually updating the last date the page was visited by using the last mod attributes of the sitemap.
Proposed Metatags
The meta tags for the unique design jewelry includes the following i) The Title meta tag this meta tag is recognized by every search engine , this type of meta tag is important because it will enable the unique design jewelry name to appears in the search engine listing, by including the relevant keywords in the title , which can get your page higher ranking in the search engine listings , ii) Description meta tag, the unique design jewelry can summarize their pages concisely by using the description meta tag , the text will appear in the search engine results as a summary beneath the title of the unique design page . in order to demonstrate this meta tag, we write 150 character words in length then, then we can composed the description by being familiar with the unique design website content, the we state the functions of the website or the services of the website clearly and then we treat our description like advertising copy .iii) keyword meta tag, finding the key words that represent our content is most crucial for attracting the customer that visited the website to pay for the unique design product. (Dhār, 2018).
Always the keywords should be incorporated naturally into text of the content and into title and description. In addition, if the website has and internal search engine you can optimize your pages for the search by entering key terms in the keywords Meta tag. This field should contain things like synonyms , acronyms and misspellings that are not visible on the webpage itself .iv ) the social media meta tag is about a great place for the content discovery , the proposed website needs a social meta in order to attain the tactical business goals which includes : the acquiring of the new customers, improving the revenue growth, promoting the loyalty of the customer by feed backing the complains of the customers and lastly in increasing the traffics in the website.
Types of tags used
The types of tags that can be used to improve the website search ranking includes i) the title tag this is the most important tag that is required for the company to be conversant with when it comes to the matter of increasing the rankings, this can help the unique design jewelry to know the content of what the website is all about, what page is about and what the site as whole about. The title tag describes the topics of each page and does it in a way that the search engine can understand. ii) header tags are easy to include in our content and describe how the content look like, the header helps to organize our content for the reader and also helps in our search engine optimation (Percy, & Elliott, 2016). .iii) image alt tags this tag can be used to focus only on the words we are writing for content and completely ignore the images. iv) Links and anchor text tags this is useful whenever you want to include stats or the images from the different sources, you need to make sure it does where it belongs in the websites
Keywords proposed
The key words for our project includes jewelry which is the popular keywords being searched for many times every day, the big brands in the jewelry sector will be investing considerable resources into ranking highly for that key words, the jewelry search keywords will be based on, how to make the jewelry, how to clean jewelry, how to make clean silver jewelry and how do you spell. Moreover, based on the analytical the keywords include create model to understand, monitor, predict customer behavior, optimize channel decisions, understand the impact of campaign and understand performance. The two key words for different competitors are marketing keywords, which used as top business keyword and the social media keyword which uses email to display the key words for the marketing.
A goal statement (USP)
A goal statement (USP) includes the following steps in creating i) make a list about the target audience ii) make a list of all the needs that the unique design product will meet, these attributes are all potential USPs for the business iii) then the owner to screen the USPs against the trends and the competitors, this is where the owner and marketing advisor remove the USPs that are being done well by the competitors because they are looking for a gap in market. iv) Match each USP against what you and your business are especially good at and how they want to look like. v) the next step is conducting the short interview about the ten people in your target market to choose the strongest USP for your business vi) then double check that you have the right USP , by asking yourself the questions like does it convey one strong benefit , is it memorable , is it clear who the brand is targeting from the USP , can you deliver what is promised and lastly is it really unique or could competitor claim the same thing.vii)use the positioning to develop unique design business and their marking strategy , evaluate their activities using USP as benchmark, also see on the side of action and budget. viii) monitor the new trends and the competitors that could affect how the customers see your USP. (Piercy, 2015).
Title and Descriptive tags
The title tag determines the name of the webpage as it appears in the Google, the content page play a vital role in ranking a page getting in the Google and Bing, on the other hand the description tag is a text of the maximum of 155 characters long that talks about the page this is because Google shows the description tag, this is the great tool used to convince people to visit the page (Jackson, 2016). . When making a website, a lot of attention always goes to the look and feel of the website in general and home page, the first contact, the first impression is made by the title and the description tag show in the Google. The following code creates the title tag and Meta description tag in unique design jewelry website.
<html! DOCTYPE>
<Head>
<.title>unique design</title>
<Meta name =”description” content =” unique design jewelry design and manufacture titanium jewelry”/>
</head>
</html>
Free keyword ranking tool
When in charge of checking the website search engine rankings, you may not have the time to manually check and see how you rank or the budget to invest in an expensive rank checking software, using a free rank checking software is the best options for the small business like the unique design whose only needs to monitor a small patch of the keywords and they have plenty of questions to choose from. The free keyword ranking tools we used is the traffic Travis, the procedure for obtaining it include you sign up to the traffic Travis and they will send you a link to download their software on your computer this tool can get you 500 free keywords to track with a free version, the traffic can ties in the keyword search volume data in the tab next to the keyword ranking thus you can get many keywords for unique design marketing including marketing keyword and jewelry
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Schock, P. (2017). 10 Offline Marketing Strategies That Still Work Today. [Blog] Available at: http:///www.biznessapps.com/blog/10-offline-marketing-strategies-that-still-work-today/ [Accessed 17 May 2018].
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