The media strategy proposed in the marketing plan for the Sproxil product is social media.
Social media strategies
Search Engine Optimisation (SEO)
Search engine optimisation for the Sproxil’s website can be achieved by installing plugins that possess extra features like page navigation, thumbnail, and customised page numbers. Specifically, this proposed system in Google will consist of a multi-tab page that will serve different areas and services to customers. When implementing the SEO in Google, it is necessary to revise the algorithms constantly for the search result for the Sproxil website to remain at the top. This can be achieved through revising the content to ensure that all the information on the website pertains directly to the needs of potential clients (Farris, Bendle, Pfeifer, & Rebstein, 2010).
Twitter/Facebook fan page promotion
Social media, especially Twitter and Facebook, have gained popularity among potential customers of the Sproxil product who use these sites as interaction modules to share technology culture and exchange ideas. The Twitter and Facebook pages are ideal tools for branding and community following building for the Sproxil product. These pages will help the company to reach its customers by skipping or bypassing the traditional gatekeepers, such as written magazine publishers, and placing them online so that customers can get them directly.
Objectives of the Marketing Plan
Attract
The main objective of this digital marketing plan is to attract the customers’ market through the Sproxil’s website and fan pages to increase the customer traffic for the anti-counterfeit product (Sproxil Company, 2015). The objective aims at packaging the company as a favourite of customers who want to ensure that the products they sell to customers are original. The use of social media to attract this market segment is achievable since the target market frequents social media as a site for interaction and purchase of different products.
Customer retention and loyalty building
Properly modified website and fan pages will reassure the customers on the reliability of the mobile technology service offered by Sproxil. Through massive recruitment of online fans in the Twitter and Facebook pages, the company will not only benefit from increased traffic of online compliments but also record high rates of customer loyalty as reactions from other clients influence most customers. Customer retention strategy is meant to position the company as a market leader in terms of customer satisfaction tracking and response (Farris et al. 2010).
Measurement of the Success of the Objective
Use Twitter page insights
It is necessary to determine the online behaviour of the target market before selecting the best channel for internet marketing to minimise the issue of changed consumer preference. Essentially, the success of brand and product management depends on proper alignment of a functional idea into the creation of flexible, involuntary, and quantifiable measurement of perception among the target audience. Thus, the Sproxil Company will be in a position to track the engagement ratios on its twitter fan page and classify different contents according to the level of engagement recorded before and after implementing the marketing plan (Sproxil Company, 2015).
Use Google analytics
The Sproxil Company may use the online traffic results to draw a growth calendar for the social media marketing strategies after every six months to fast track the initial objectives against the realities of market swings. Besides, the company may be in a position to locate the regions with the highest and the lowest traffic to improve its social media marketing strategy. Also, the company may be in a position to accurately determine the average duration of access to these sites to track the success of its social media marketing channels before and after implementing the marketing plan (Farris et al. 2010).
Financing
Sources of Financing
The main sources of finance available for the business are loan capital in the form of bank overdraft or bank loan, engaging external investors and convincing business angels to be part of the establishment.
Bank loan/Overdraft
Under the option of the bank loan, the business will be in a position to receive funds for expansion over a specified period. Depending on the loan option, the business will be in a position to negotiate for a flexible and friendly repayment schedule (Farris et al. 2010).
Share Capital from Outside Investors
Another source of financing available for the business is the use of funds from outside investors, such as contributions from interested investors who will be given shares in the company according to their contribution. The fund contributors will be allocated shares in line with the total capital that the company requires for the expansion of the business (Farris et al. 2010).
Conclusion
The Sproxil Company is positioned to reap heavily from the recommendations that will be in the proposed marketing communication plan. Despite its wide market, there is a need to counter competition and ensure business sustainability. Currently, the market dynamics discussed above should be skewed to optimise the company’s product performance. The strategies to ensure business sustainability will be presented in the proposed marketing communication plan.
References
Farris, P., Bendle, N., Pfeifer, P., & Rebstein, D. (2010). Marketing metrics: The definitive guide to measuring marketing performance. Alabama, Al: FT Press.
Sproxil Company. (2015). Solutions. Web.