My Social Media Marketing Tactics for the Launch of Lilly’s Online Store!

Guess what?! My friend Lilly is about to launch her very first online retail store that will distribute and market sporting gear & equipment. However, before Lilly launches her online store, I firstly wanted to share my thoughts and advice on a few useful social media marketing tactics that can be suitable and help the success of her launch. Apart from being innovative in terms of products, product quality and design, it is important to be innovative in terms of marketing. Ensuring Lilly is utilizing all social media platforms to increase its brand and expand its customer base.

Here are my important social media marketing tactics for the 2019 launch of Lilly’s online store:

Help Fans Find You With Social Buttons

Customers will not interact with you if they cannot find you! It is important when online store is launched that you help fans find you with your social buttons. Display your social media buttons in clear view that’s predominantly in headers or footers. Your website, blogs, email messages and all other marketing communication platforms must include touch points! This will ultimately persuade and encourage customers to share the content.

(O’Keefe, 2019)

Website Design

  1. Optimize your checkout process: Building trust with potential customers is one important point but continuing to build that trust throughout checkout process is also important. Make the process easy by arranging everything on one page, include a progress bar at the bottom, and ensure the buttons are easy to find. This will ensure it is smooth & trustworthy and will decrease cart abandonment.
  2. Give customers helpful descriptions of products: All sporting retail and equipment must have accurate descriptions about the product, include size guide, reviews, and images or videos.
  3. Shipping costs: Include shipping costs and a list of states/countries the store delivers too. There is nothing more frustrating for a customer then having a cart full of items, all details entered and at the end is a huge shipping cost or unavailable to deliver to the desired location.
  4. Give customers the option to keep shopping: This feature will allow customers to come and go with their shopping cart. They might choose to keep shopping before checking out to consider other items.
  5. Different payments accepted: Add logos of what type of payment you accept and popular security seals. Will help build trust with customers and make them feel safe and secure when entering card details.
(MacDonald, 2019)

Use Social Reviews

Product reviews by customers is a great tool to build social proof of your store and products. It will inform new customers of what to expect when making a purchase. After customers have made a purchase, ask for feedback. Feedback can include a rating, comment or a quick survey. This will help the business to grow and improve, and ultimately build trust for new customers.  

(O’Keefe, 2019)

Customer Support

Include chatbots, contact support and live chats! Chatbots is Artificial Intelligence that can stimulate a conversation with your customers. Providing strong customer support system online is useful tool to help customers feel supported and solve any questions or issues they may have. Providing good customer support will help the overall online experience.

Images & Videos

Include photos! You Lilly, will gain more attention including photos in your posts on different social media platforms. Limit your text to creative headlines and a link. Posts will stand out and be more effective in achieving sales. Important to also incorporate videos. ‘80% of consumers would prefer to watch a video about a product than read about it’ (O’Neill, 2015) Produce short videos of the sporting retail and equipment, and even live stream your message using Facebook or Instagram.

Run an Influencer Campaign

Products endorse by either a celebrity or influencer has become a common marketing strategy used in today’s society. Influencers can share a sponsored post that features your brand and sporting products! Influencers can engage audiences that represent the target market for the online store. Influencer marketing can put Lilly and her store at a competitive advantage! But remember: Choose an influencer who has similar values to your brand.

Be Social Every Day

If you want this sporting retail and equipment store to grow and expand it is important to grow your social following by posting content consistently.

You can also compare your posting frequency and engagement rates to competitors like Nike, Rebel Sport and Eastbay. Social media platforms like Facebook, Instagram and Twitter use algorithms too curate user’s feeds (Agrawal, 2016) Posting needs to be done regularly if you want your customers to see your content. I recommend starting off small by choosing one or two platforms you can commit too, rather than spreading too thin and not posting regularly. I also recommend using social media management tools like Buffer to analyse the frequency and scheduling of posts until satisfied with engagement online.

(VectorStock, 2019)
(Buffer, 2019)

            

Email Marketing

Customers need to subscribe to continue receiving email marketing from Lilly’s store. Customers will not visit the store online every day of the week, so it is vital that Lilly incorporates email marketing. Don’t hold back sharing news, keep your customers up to date by emailing subscribers with the latest offers, special discounts and promos. Use tools like Mailchimp to deliver the right messages to the right people (Mailchimp, 2019). Take the information to your customers!  

(Mailchimp, 2019)

                                   

References

Agrawal, A. (2016). What Do Social Media Algorithms Mean For You?. [online] Forbes.com. Available at: https://www.forbes.com/sites/ajagrawal/2016/04/20/what-do-social-media-algorithms-mean-for-you/#673ab79ba515 [Accessed 12 Sep. 2019].

Buffer (2019). Buffer | Social Media Management Software for Growing Brands. [online] Buffer.com. Available at: https://buffer.com [Accessed 12 Sep. 2019].

Digital Marketing Blog. (2018). 15 Ecommerce Marketing Strategies to Increase Your Online Sales. [online] Available at: https://www.lyfemarketing.com/blog/ecommerce-marketing-strategies/ [Accessed 12 Sep. 2019].

Hayes, M. (2018). 17 Social Media Marketing Strategies to Grow Your Online Sales. [online] Shopify. Available at: https://www.shopify.com/blog/7900695-12-social-marketing-strategies-to-grow-your-online-sales#influencer [Accessed 12 Sep. 2019].

MacDonald, J. (2019). 25 Ways to Optimize Your Checkout Process for Great Results. [online] The Good. Available at: https://thegood.com/insights/optimize-checkout-process/ [Accessed 12 Sep. 2019].

Mailchimp (2019). Your marketing universe—all in one place | Mailchimp. [online] Mailchimp. Available at: https://mailchimp.com [Accessed 12 Sep. 2019].

Marketingnutz (2019). Social Media Isn’t a Silo – How to INTEGRATE Your Digital Marketing and Social Media Plan. [online] Marketing Nutz Training and Consulting Social Media, Digital Marketing, Branding, Keynote Speaking,. Available at: https://themarketingnutz.com/2019/02/social-media-isnt-a-silo-how-to-integrate-your-digital-marketing-and-social-media-plan/ [Accessed 12 Sep. 2019].

O’Keefe, S. (2019). How to Master Ratings and Reviews on Social Media. [online] Ignite Social Media Agency. Available at: https://www.ignitesocialmedia.com/customer-experience/master-ratings-reviews-on-social-media/ [Accessed 12 Sep. 2019].

O’Neil, M. (2015). Video Marketing. [online] Animoto.com. Available at: https://animoto.com/blog/business/video-marketing-cheat-sheet-infographic/ [Accessed 12 Sep. 2019].

VectorStock (2019). VectorStock – Vector Art, Images, Graphics & Clipart. [online] VectorStock. Available at: https://www.vectorstock.com [Accessed 12 Sep. 2019].

            

                                               

Digital Technologies Impact on Marketing Mix: Real Estate

The marketing mix consists of seven key variables which can be used to develop a marketing strategy and ultimately meet the needs and wants of the customer. Digital technology has impacted the marketing mix within the Real Estate sector.

(Marketing Mix, 2019)

Product

The product variable refers to what you are selling, it primarily involves researching the customers needs and developing an appropriate product. Real Estate agencies are actually providing a service to its customers and the property itself. The service provided includes marketing and negotiating a sale to the client, educating buyers throughout the decision process and proving regular updates on property sales. The Internet has impacted the product element within Real Estate, because it has changed how it provides the service and market the property. Today consumers are more mobile and connected through social media and online platforms. Innovations in technology has improved features, quality and overall appearance of properties. Internet has made services and properties readily available to clients looking to buy an apartment, house or land. It has allowed the industry to advance and reach a larger target market.

Promotion

Promotion refers to how agents will market, advertise and expose the product to an audience. It’s all about the actual marketing. If the property is at the right price and promoted well then it will automatically attract buyers (Mctague, 2015). Promotion of property begins with how you communicate marketing tactics via sales and personal promotions, branding and direct marketing. The first way that advanced technology has impacted the promotion of real estate is through photos and quality images to sell the property being marketed. Viewings, sales and the overall process of selling and buying properties have changed dramatically due to the development of new technology.

‘Potential buyers can view properties in true-to-life definition through VR or online tours – virtually walking through 50 properties in the time that it would take to visit one’

(Matt Bell, 2017)

Marketing properties online has allowed listings to be shared through numerous social platforms and agencies can utilize artificial intelligence to understand what buyers want.  

Price

This refers to the pricing strategy of the service and product and how it will overall affect the customer (Hanlon, 2019). Price is an important factor within the real estate industry because if a property is not priced correctly, customers will not pay for it. Auction is, ‘A sale of property to the highest bidder.’ (Webster, 2019). Technology has advanced this specific industry sector as it has created a new world of online auctions (Friedrich, 2019). These allow buyers to bid simply through the screen of their computers. Apps like realestate.com and Domain have allowed buyers to place a bid at a touch of a button. Shifting this industry towards digital platform has placed businesses at a competitive advantage.

Place

The fourth ‘P’ refers to how the property is positioned in the marketplace with the correct price and promotion in place. This can be the physical location of the property or the digital presence of the business. Technology has allowed businesses to set the face and tone of voice for the agency through their brand. It is conveyed through visual marketing, reputation and the presentation and professionalism of staff.

People

This variable is referring to the entire team within the Real Estate Agency. Assistants, agents, support staff are all members who help directly or indirectly with how you sell properties. By establishing positive culture, providing trainings for all employees. Internet has impacted the recruitment process, with many employees finding job opportunities within the industry online. Internet has allowed trainings to be undertaken online to help retain staff and strengthen the agency’s brand.

(Dholakiya, 2019)

Process

This involves the methods and procedures companies use to achieve all marketing functions (Chaffey & Chadwick, 2016). Important agents communicate their marketing efforts with seller client, showing client feedback and analysing data from your listings. It is important from the time the property is listed until sold and legal documentation is finalised. With the new development of technology and new innovations, it is improving the speed and quality of the buying and selling process in the property industry. Habito is an example of the few innovative technologies that have helped the industry grow by speeding up sales (Habito, 2019).

Physical Evidence

Physical evidence is everything the customer will see when interacting with the business (Business Qld, 2019) How will we reassure our customers? Well-trained staff, great website, impressive properties, branding or even the reputation and how staff present themselves? It is important to understand within real estate, you cannot make everyone happy. However, if the property is chosen and priced correctly, and promotion and position of the property is right then you will have fewer problems and happier clients. Testimonials are an important use of physical evidence. Real Estate agencies like Ray White have included testimonials within their online website (Ray White Glen Waverley, 2019). It helps build the brand image and position yourself with authority to give proof. Standardised processes in place and creating templates to ultimately help agency stay consistent and minimise errors. With new innovations in technology it will help track the spending across multiple channels and measure the effectiveness of campaigns and marketing.

(Hanlong, 2019)

SMART

Marketing mix can work as a business model to help more listing clients at a higher level. Each of the 7 P’s play an important role in ensuring your product reach the right audience. By developing a property marketing strategy will consider the various elements which can influence consumers purchase behaviour. It is important and critical when setting goals for each of the 7 P’s that they are SMART goals; Specific, Measurable, Achievable, Relevant and Timely (Business Qld, 2019). These five objectives are specific methods to measure and follow the progress of a business. If the business chooses the right mixture of marketing across the 7 P’s, the marketing strategy will have a higher chance of succeeding.

References

Business Qld (2019). The 7 Ps of marketing | Business Queensland. [online] Business.qld.gov.au. Available at: https://www.business.qld.gov.au/running-business/marketing-sales/marketing-promotion/marketing-basics/seven-ps-marketing [Accessed 10 Sep. 2019].

Chaffey, D., Ellis-Chadwick, F. (2016). Digital Marketing. 6th,Montreuil: Pearson.

Dholakiya, P. (2019). Real Estate Link Building: 3 of the Best Tactics. [online] Search Engine Journal. Available at: https://www.searchenginejournal.com/real-estate-link-building-tactics/296545/ [Accessed 10 Sep. 2019].

Friedrich, J. (2019). Online Auctions: How Internet & Technology Are Changing Auctions – REALTORS® Land Institute. [online] REALTORS® Land Institute. Available at:

Online Auctions: How Internet & Technology Are Changing Auctions
[Accessed 10 Sep. 2019].

Habito. (2019). The UK’s Online Mortgage Broker – Fee Free Mortgage Advice | Habito. [online] Available at: https://www.habito.com [Accessed 10 Sep. 2019].

Hanlon, A. (2019). How to use the 7Ps Marketing Mix? – Smart Insights. [online] Smart Insights. Available at:

How to use the 7Ps Marketing Mix
[Accessed 10 Sep. 2019].

McTague, R. (2015). 7 P’s of real estate listing marketing. [online] Inman. Available at: https://www.inman.com/2015/02/17/7-ps-of-real-estate-listing-marketing/ [Accessed 10 Sep. 2019].

Merriam-Webster (2019). Definition of AUCTION. [online] Merriam-webster.com. Available at: https://www.merriam-webster.com/dictionary/auction [Accessed 10 Sep. 2019].

Ray White Glen Waverley. (2019). Testimonials. [online] Available at: https://raywhitegw.com/sell/testimonials [Accessed 10 Sep. 2019].

ASOS: Business & Revenue Model

BUSINESS MODEL

What is a Business model? ‘It is the company’s plan for making a profit’ (Kopp, 2019) It will identify all aspect of the business, identifying the products the business wishes to sell, its target markets and any expenses involved.

(ASOS, 2019)

ASOS is one of the biggest leading online retail stores, which was launched in 2000 (Kollewe, 2014). A UK based company, that sells clothing for men and women, providing ‘fashion lovers’ with the newest styles. ASOS has a multi-sided business model which focuses on the overall customer experience. ASOS main channel is its website, also allowing customers to make purchases from its app on their mobile. ASOS has four main factors that influence the business ongoing success; proposition, product, people and purpose (ASOS, 2019)

ASOS VISION

The world’s number one fashion destination for twenty-somethings

Customer Segments

ASOS divides its customer base into two groups which are both necessary in order for the business to operate:

Consumers: Individuals who want to purchase the latest fashion trends Fashion companies: Retailers that produce fashion and need buyers

There is also a small target market within the online business model which specifically targets people in their twenties.


We create and curate products and experiences that inspire fashion-loving 20-somethings

(ASOS, 2019)

Value Proposition

This term refers to the value a company promises to deliver to customers should they choose to buy their product. The question ASOS may ask themselves is ‘Why should the customer buy from you?’. ASOS uses personalization, customization and convenience as its value proposition to ultimately meet the needs and wants of the customer.

Accessibility: ASOS is accessible to the widest possible audience. They offer clothing for various body sizes with retail lines such as, Petite, Tall, ASOS Curve & Plus size, maternity. They also have category called ‘Marketplace’ which includes 50,000 boutique fashion items from more than 700+ boutiques across 40 countries (Cleverism, 2019) ASOS allows consumers to access product items that may not be able to access from physical stores.  

Customization: They alter their site, products & services according to the needs and wants of the customer. ASOS customizes its website, planning and buying strategies to target different countries. For example, they may release a winter collection in Australia before other countries.

Convenience: ASOS provides convenience for all customers. The next-day delivery option to numerous countries as well as express delivery option for smaller countries. They also send regular updates on the delivery of your product. So, like myself you can know when your product will arrive and can stop asking the question ‘Where is my product!?’. Finally, their mobile app provides great convenience as it offers product recommendations.

Customer Relationship

ASOS’s relationship with its customers exists mostly through its website and app. There is limited opportunity for face to face interaction between customers and employees because ASOS is an online company. ASOS reaches out to customers in the community by sending magazines and sending emails to customers. If customers want to contact ASOS directly, they can do so through email or social media, or alternatively get in contact via the 24/7 phone support service ASOS offers.

(ASOS, 2019)

Key Activities

ASOS’s business model involves building and maintain their digital platform between their two interdependent groups; consumers and fashion companies. Maintenance of their websites and apps. Also involves searching for new brands to reference and add. Organization and planning to process delivery of the product and manage returns from customers. Communication with its consumers via email, Facebook, Instagram etc.

Key Partners

ASOS is involved with numerous partners to influence the success of the business. Fashion brands, designers and ambassadors are all partnered with ASOS.

Key Resources

ASOS main resources are the developers and IT engineers. As well as supply chain managers, and its collection of facilities which include warehouses worldwide. ASOS also relies heavily on their 1,300 customer care employees to provide support for customers (ASOS Careers, 2019)

REVENUE MODEL

How does ASOS make their money? At the end of 2018, ASOS had made a profit of $134.5million before tax, which is a 28% increase from 2017 (Clark, 2018)

(Mor, 2019)

ASOS revenue model includes the following:

Product Revenue

ASOS generates revenue from selling its private label products

Usage Fee

ASOS charges approximately rental fee of $35 per month to vendors using their website

Transaction Revenue

ASOS generate revenue through charging transaction fee and receives commission. This revenue is generated by claiming 20% commission off every sale made by vendors through their website.

Advertising Revenue

Firms offer products and ASOS provides the platform for advertising in return for advertising fee. Through use of third-party advertising on ASOS website and magazine, the company automatically makes an income from fees charged.

ASOS international strategy included delivering its services to 237 countries and territories. By expanding their customer base, they have driven sales up. International sales (Yes that’s us, Australia) went up 22% in a year (Kulach, 2019)

(ASOS, 2019)

References

ASOS (2019). Women’s Clothes | Shop Women’s Fashion | ASOS. [online] Available at: https://www.asos.com/au/women/ [Accessed 4 Sep. 2019].

ASOS. Available at: https://www.asos.com/au/women/ [Accessed 4 Sep. 2019].

ASOS Careers (2019). ASOS Careers. [online] Asoscareers.asos.com. Available at: https://asoscareers.asos.com/ASOS/BusinessAreasJobs/CustomerCare.html [Accessed 3 Sep. 2019].

Clark, A. (2018). ASOS revenue, profit rise, guidance backed. [online] MarketWatch. Available at: https://www.marketwatch.com/story/asos-revenue-profit-rise-guidance-backed-2018-10-17 [Accessed 3 Sep. 2019].

Cleverism (2019). Company ASOS | Cleverism.com. [online] Cleverism. Available at: https://www.cleverism.com/company/asos/ [Accessed 3 Sep. 2019].

Kollewe, J. (2014). Asos timeline: from tiny startup to dressing Michelle Obama. [online] The Guardian. Available at: https://www.theguardian.com/business/2014/jun/05/asos-timeline-startup-michelle-obama [Accessed 3 Sep. 2019].

Kopp, C. (2019). Understanding Business Models. [online] Investopedia. Available at: https://www.investopedia.com/terms/b/businessmodel.asp [Accessed 3 Sep. 2019].

Kulach, K. (2019). What turned ASOS online store into a global ecommerce giant?. [online] Webinterpret. Available at: https://www.webinterpret.com/au/blog/asos-online-store-global-ecommerce-success/ [Accessed 3 Sep. 2019].

Mor, N. (2019). Revenue attribution overview. [online] Help Center. Available at: https://support.appsflyer.com/hc/en-us/articles/360001546009-Revenue-attribution-overview [Accessed 4 Sep. 2019].

Uber – An Innovative Business Model

How many of us have needed a lift home after a night out? Needed a lift to the airport? On holidays and don’t have access to a car? Are stranded in middle of Sydney or Melbourne?

(Minium, 2018)

Well I am sure you have all answered these questions with the touch of a button, a black and white U-shaped app icon. Yes, I am sure you are all thinking of one word, Uber! They solve a problem for many, getting from A to B when other forms of transport are unavailable. The Uber business model is on-demand transportation service which has changed the taxi industry immensely. By a touch of a button, Uber arrives at the location where you are, in the minimum amount of time possible to drive you to your required destination.

(App Store, 2019)

Uber was founded by Travis Kalanick and Garret Camp when they were out one winters night in Paris and couldn’t get a ride home. It is at this moment Travis and Garret came up with the idea of Uber in 2009. (Uber, 2019) Uber then came into the Australian market in 2012, it did so with a great deal of enthusiasm and excitement (Department of Industry, Innovation and Science, 2018). Uber is worth $72 billion; this value shows just how successful this business really is. Here is one of the many examples of Uber’s Business model:

Uber Business Model: (Jungle works, 2019)

Uber is available to all ages and social groups, whether work related or for university students. As of 2018 Uber has 110 million worldwide users and have approximately 3 million registered drivers (Iqbal, 2019). Uber doesn’t employ its drivers, instead It partners with them. Individuals wanting to partner with Uber have to go through the driving requirements which first off must have a licence and their own car. Uber is rather a technology or service provider, as drivers can set their own work hours and have the right to accept or deny certain trips. But how does Uber make their money? Well firstly, they charge their customer for rides and secondly through promotional offering and partnerships.

Uber has shaken things up within the taxi industry. Taxi’s caused hassle and time; language barriers, payment, untrustworthiness, ordering to correct location etc. Uber digital channel is available worldwide allowing anyone to access its app on android or IOS, broadening its customer bases. Uber works with certain key partners to make their business expansion efficient and easy. They use google maps to navigate and have easier access to worldwide mapping. Their partnership with Adyen to process all uber payments and their app with the App Store (Minseng, 2019)

                                                                         

From its success it has looked at new business models to use in combination with its brand to provide new and ongoing services to its existing customers base and generate further sales through new and existing customers. Not only Uber is in the personal transport industry but now with UberEats it offers transport of food serving in three different segments; Bikes, restaurants and users.

References

App Store. (2019). ‎Uber. [online] Available at: https://apps.apple.com/us/app/uber/id368677368 [Accessed 2 Sep. 2019].

Iqbal, M. (2019). Uber Revenue and Usage Statistics (2019). [online] Business of Apps. Available at:

https://www.businessofapps.com/data/uber-statistics/ [Accessed 2 Sep. 2019].

Minium, A. (2018). A Day in the Life Of Your Uber Driver. [online] Medium. Available at: View at Medium.com [Accessed 2 Sep. 2019].

Minseng, G. (2019). Uber – Business Models Inc.. [online] Business Models Inc. Available at: https://www.businessmodelsinc.com/exponential-business-model/uber/ [Accessed 2 Sep. 2019].

Department of Industry, Innovation and Science. (2018). Uber in Australia. [online] Available at: https://www.industry.gov.au/data-and-publications/uber-in-australia [Accessed 2 Sep. 2019].

Do Celebrities Call all the Shots? – SMMF

(Forbes, 2019)

1A. Use the dimensions of SMMF to analyse Kylie Cosmetics

Kylie Jenner, age 21, is famously known from the reality TV show Keeping up with the Kardashians. Kylie is the youngest child of the Kardashian-Jenner family. As of this year Kylie is now known as

The youngest self-made billionaire in history

Kroll and Dolan, 2019

Kylie and Kylie Cosmetics relies on and thrives through the use of social media!

Co-founder of brand marketing company Tribe Dynamics said:

The business would not exist at its current size without social media”                                                                           

Conor Begley, 2019

Jenner has no trouble at gaining an audience as she has generated a massive 144 million followers on Instagram, with each post worth about $1.2 million! (Hopper HQ, 2019)

1.SCOPE

Kylie Cosmetic appears to be growing in scope and intensity. Kylie uses social media as a marketing platform to communicate and share her ideas. She has specifically used Instagram as a communication tool to provide information and engage with her followers to benefit her company. She has become a major influencer who has used herself to promote her own products and even created her own hashtag #KylieCosmetics for customers to use and share a photo of themselves using the products.

She has collaborated with famous sisters to promote her products which has boosted the scope of her marketing platform.

Kylie Jenner Instagram: KKW Collection

Kylie has also an Instagram dedicated to Kylie Cosmetics as well as a personal account which she uses to further promote her makeup brand. 

(Kylie Jenner, 2019)

Kylie Cosmetics uses the scope dimension to influence and reach a greater target audience to grow her brand.   

2. CULTURE

Culture can be defined as the ideas, customs and social behaviour of a particular person (Merriam-Webster, 2019). In cultural dimension and in relation to Kylie Cosmetics they have chosen a modernist approach of being open, flexible and adaptive to cultural trends and changes. Kylie and her marketing teams have distinguished themselves to mass advertising through social media and have built an entire empire through social media.

3. STRUCTURE

Kylie has certain level of freedom when engaging with her audience. She has structured her media with clear purpose of what she wants to advertise. Self-branding gives Kylie a competitive edge and the option to post anything she wishes. Either a post specifically advertising a product, photo of Kylie herself in a bikini giving a shout out to a product or a link to her website in her bio.

(Kylie Jenner, 2019)

4. GOVERNANCE

The fourth and final dimension of the framework is governance which refers to the rules and guidelines and how social media responsibilities are controlled in the organisation. (Rauschnabel, 2016) Kylie Cosmetics relies on and thrives through social media

Kylie is a boss! She does not need to turn to others to promote her brand, she saves money and influencer fraud by using herself to promote her own brand, she saves money and influencer fraud by using herself to promote her own brand! Using her own hashtags and self-promotion. As far as rules and guidelines with Kylie Cosmetics go, Kylie only has to abide by the rules of the platforms.

(Forbes, 2019)

2A. Suggest how SMMF helps to interpret what is happening in the financial services industry in relation to its use of social media

Financial services industry has used social media to engage with their audiences. Social Media Marketing Framework has helped interpret what is happening in the financial services sector by enabling the industry to exploit the power of social media. SMMF helps industry communicate directly to consumers, identify areas of improvement and how to reposition their brand.

Originally, financial services avoided social media because of the threat it imposed. This all changed when customers demanded immediate responses from all companies and service providers (Chaffey & Ellis-Chadwick, 2019). To solve this problem firms began to invest in financial technology which resulted in faster, latest-edition services and use of social media.

(Lake, 2019)

1.SCOPE

Financial services industry started to adopt the use of social media in response to the demand in immediate responses by customers (Chaffey & Ellis-Chadwick, 2019). Through the use of social media, financial services can now provide customers with real-time feedback and respond to all enquiries.

2. CULTURE

The financial services industry has used a mix between conservatism and modernism approach. They have become more open, flexible and adapted to the changes in technology. Through social media that have promoted their products and services and have even incorporated artificial intelligence into messenger chat online to improve customer service.

(White, 2019)

3. STRUCTURE

The structure for financial services industry is defined and controlled. In terms of social media, the roles and responsibilities are more restricted in comparison to Kylie Cosmetics and other beauty influencers. A social media marketing team will decide what structure it will be, monitor all activity and recommend the correct guidelines and protocols to follow.

4. GOVERNANCE

Money is important! Money is hard to earn and when we have it we want to save and keep as much as possible! Consumer protection and customer service are the two most important factors. If the business displays reliability and accountability, They will subsequently gain their customers trust and loyalty (Zelgerman, 2018). Their approach is more constraint because of the high risk and size of the industry. The financial services industry must take customer communication very seriously and follow guidelines and policies.

Overall, the SMMF enables organisations to position their business and identify the strengths and weaknesses of the four dimensions, to help fully utilise the power of social media!

REFERENCES

Armstrong, C. G., Delia, E. B., & Giardina, M. D. (2016). “Embracing the Social in Social Media: An Analysis of the Social Media Marketing Strategies of the Los Angeles Kings”. Communication & Sport. 4(2) 145-165. Doi: 10.1177/2167479514532914

Chaffey, D., Ellis-Chadwick, F. (2016). Digital Marketing. 6th,Montreuil: Pearson

Eldridge, R. (2017). How Social Media Is Shaping Financial Services. [online] Huff Post. Available at: https://www.huffpost.com/entry/how-social-media-is-shapi_b_9043918 [Accessed 26 Aug. 2019].

Felix, R., Rauschnabel, P. A., & Hinsch, C. (2017). Elements of strategic social media marketing: A holistic framework. Journal of Business Research, 70, 118-126.

Hopper HQ Instagram Scheduler. (2019). Instagram Rich List 2019 – Hopper HQ. [online] Available at: https://www.hopperhq.com/blog/instagram-rich-list/ [Accessed 26 Aug. 2019].

Kylie Cosmetics by Kylie Jenner. (2019). Kylie Cosmetics by Kylie Jenner | Official Website. Available at: https://www.kyliecosmetics.com/ [Accessed 26 Aug. 2019].

Kylie Jenner [@kyliejenner]. (2019). Instagram profile. Retrieved from: https://www.instagram.com/kyliejenner/

Kroll, L. and Dolan, K. (2019). America’s Richest Self-Made Women 2019. Forbes. [online] 4 Jun. Available at: https://www.forbes.com/self-made-women/#3fdab7aa6d96 [Accessed 26 Aug. 2019].

Rauschnabel, P. (2016). Conceptualization and Definition of Social Media Marketing Strategy. [online] Philipp Rauschnabel. Available at: http://www.philipprauschnabel.com/2016/05/strategic-definition-of-social-media-marketing/ [Accessed 26 Aug. 2019].

Tjepkema, L. (2018). The 4 Ps of Marketing in the Internet Age | Emarsys. [online] Emarsys. Available at: https://www.emarsys.com/en-au/resources/blog/the-4-ps-of-marketing-in-the-internet-age-artem-kapotin/

White, D. (2019). The Beginner’s Guide to Chatbots in the Financial Services Industry. [online] Tech Funnel. Available at: https://www.techfunnel.com/fintech/the-beginners-guide-to-chatbots-in-the-financial-services-industry/

Zeigerman, J. (2018). The Power of Social Media in Financial Services. [online] Asurity Technologies. Available at: https://www.asurity.com/news/the-power-of-social-media-in-financial-services/ [Accessed 26 Aug. 2019].

 

‘Horse doing the Git Up Challenge’ YouTube Clip

Hey Guys!

As I mentioned in my first ever post I ride horses. I have grown up around horses my entire life and have a great passion for it. I am so lucky to be able to live on a property where I keep my horses and train everyday. I specifically do Showjumping which is a series of jumps (like an obstacle course) which you have to jump in numerical order from start to finish.

Enjoy the video!

My Online Experience with ICONIC

(Iconic, 2019)

Marketers must consider that past experiences will be the foundation of future evaluation. 

Customers Interaction with an organisation’s website creates opportunities for positive experiences that can lead to long-term relationship building.”

(Rose and Hair, 2011)

As I mentioned in my previous blog post, I do love online shopping (when I have money). Online shopping especially in retail can be so risky and can be one BIG guess!

This image below is the framework for understanding the concepts which motivate and influence online consumers.

A) ANTECEDENTS

The Online Customer Experience Framework (Rose, Hair & Clark, 2011; Chaffey & Ellis-Chadwick, 2019)

First stage of the framework is the antecedents to the online experience, which consists of 8 important theories. These can have a detrimental effect on the consumer choosing to proceed or not, with a digital offer.

A) ANTECEDENTS

1.Information processing (IP): Information processing is important. It forms how a customer deals with the data and information available, which in turn will impact their future behaviour

My experience: I type in my search engine ‘summer dresses’, numerous websites come up and I start to process all the information. I click on the ICONIC tab as it attracts me with their star rating and I start to read through their website and process the home page and also the entire web page.

2. Perceived ease of use: The easier a website is to use the higher chance the consumer will stick around and have a positive online experience.

My experience: Iconic was easy to use, whether on my laptop or through their app on my phone.  It had minimal text, clear categories, high definition pictures and their latest promotion all visually seen on their homepage. Any specific item I was interested in had all the information and details provided. It was simple, easy on the eye and very welcoming.

3. Perceived usefulness: This describes how useful the website is to the customer and if the digital offer fits the consumers daily life (for my case, shopping).

My experience: Iconic was instantly already useful. It presented a broad selection of dresses suited to my occasion.

4. Perceived benefits: If the customer feel some sort of benefit by engaging in their digital offer it will achieve future support.

My experience: Iconic had numerous sales and offers benefiting me. Joining and creating a FREE account with Iconic made me feel special & that I was getting some sort of reward. Having special features and modifications with an account in comparison to, was not as rewarding.  Also $20 off my first order definitely encouraged me to proceed.

5. Perceived control: It is important that no matter what technical level each consumer is at that they feel confident and in control.

My experience: I refined Iconics Clothing category, so my search would be more specific and tailored to what I was looking for. This immediately made me feel more in control of the search and reduced my search from 10,500 items to 200! Also, Iconic saving my account information made it much easier to come and go when I wanted.

6. Skill: As a customer’s ability to use technology and engage in the website increases, the more comfortable and skilled they will become.

My experience: Iconic website is HUGE and I am the least IT savvy skilled person you could know of! However, I did manage to navigate my way around their website and persuade me to keep shopping and spend more money $$

7. Trust and risk: Consumers must feel a sense of trust, otherwise they will not continue to use or purchase from it. Trust is an important part of the overall online positive experience.

My experience: Iconic is a major online shop and through word of mouth (my friends) I did already trust the website. Iconic did confirm that with star rating in search engine and the option to use Paypal. If troubles occur, the option to chat to a customer support representative increases the trust and takes that risk away. What I am trying to say is that I have seen some dodgey and untrustworthy online retail stores and I know Iconic wasn’t one!

8. Enjoyment: This is the overall outcome for a positive online experience.

My experience: Iconics website and services made the transaction of my product quick and easy. So, yes my overall outcome was a positive online experience and was very enjoyable!

B) EXPERIENCE

Antecedents are the building blocks to the customers overall experience which translates into consequences. Positive experience that enable businesses to retain customers and maximise customer satisfaction. (D. Chaffey, E. Chadwick., 2016) These 8 experiences affected my cognitive state as it influenced how I thought and felt about using Iconic and the overall online experience I had. I have a strong understanding about the website and what I am doing in terms of usefulness, trustworthiness and customer benefits. I am super happy and satisfied with the major online shop, Iconic.

C) CONSEQUENCES

Customer Satisfaction Antecedents reflect my own personal online experience and as a result will shape the final action I take which is the consequence.  Online shopping on Iconic was satisfactory and I had no trouble. The benefits, ease of use, usefulness, reviews, delivery timeframe, accurate picture and description all met my expectations and made it a very enjoyable online experience. 10/10!

Re-purchase Intention Alternatively, If the dress did not fit I would have returned the dress through there 30 day return policy to exchange the dress for the better size and Iconic would have shipped it back within 3-5 business days. From my previous experience using Iconic to purchase the first dress has encouraged me to continue to use their easy services because of their established brand name and ease of delivery! It is not time consuming or annoying to exchange or repurchase from Iconic because my past experiences were positive. Shopping is addictive, fun and too easy to spend money!

REFERENCES

Chaffey, D., Ellis-Chadwick, F. (2016). Digital Marketing. 6th,Montreuil: Pearson.

Rose, S., Clark, M., Samouel, P., & Hair, N. (2012). Online customer experience in e-retailing: an empirical model of antecedents and outcomes. Journal of Retailing88(2), 308-322. Chicago

The Iconic. (2019). Clothes Online | Shoes Online | THE ICONIC. [online] Available at: https://www.theiconic.com.au/ [Accessed 21 Aug. 2019].