Adv 420 presentation 1
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World Market is a home goods retailer seeking to increase brand awareness and engagement with younger customers through an expanded social media presence. By launching promotional campaigns on Facebook, Twitter, Pinterest and Instagram, the company aims to connect with 18-34 year olds and reward their participation. An initial budget of $500,000 would cover developer costs to build out the social media strategy and run competitions over the first three months as followers are gained. The goal is to boost website and store traffic, sales, revenue and communication through interactive social media marketing.
Adv 420 presentation 1
- 1. Keely O’Connor ADV 420
- 2. Company Overview Home goods shopping destination that offers eclectic, unique and affordable pieces First store opened in San Francisco in 1958 by businessman turned world traveler Buyers travel to remote villages, old factories and foreign bazaars for unique products to sell in store Over 260 brick and mortar stores nation wide Online store
- 3. Big Idea Key selling aspect: unique, authentic and always affordable Target audience: young adults (18-34) looking for unique home goods Positioning opposite of traditional home good stores– message will be young, exciting and eclectic Offering promotional events via social media Increasing brand awareness by increasing social media activity Customers will be rewarded for participation in promotional events
- 4. Target Audience Young Adults, ages 18-34 Specifically females who handle most of the decorating and shopping for household Young, financially independent, beginning life as young adult Interested in travel, purchasing eclectic, unique pieces Tech savvy and knowledgeable of social media outlets
- 5. Tools and Tactics Facebook Huge draw to possible customers of online and brick and mortar stores “Liking” Facebook pages gives access to private sales, coupons, promotional sales, valuable information Providing feeling of exclusivity to customer Twitter More interactive, allows for immediate communication directly with World Market Tweet about in store experience, latest purchases, voice criticisms Twitter contests, offering incentives to winners
- 6. Tools and Tactics Pinterest Allows for more creativity from World Market, customers and Pinterest followers Promote current merchandise in store Promotional contests– “Pin it to Win it” Instagram Promoting store products Posting pictures of current merchandise, store locations, happy customers Posting pictures will help customers visualize products in their own home
- 7. Key Performance Indicators Increase in social media and website visitors Leading to increasing sales and total revenue Increased communication between World Market and customers via social media Increase in social media followers Engagement in social media promotional events Increased brand awareness nation wide
- 8. Budget Main cost coming from man-hours to get social media sites launched and interactive At least 100 hours from team of developers $300 per hour X 100 hours= $30,000 Developers run sites for first 3 months to gain followers, keep sites running, train World Market employees 100,000 per site…$400,000 total Cost of running competitions and giveaways Grand Total: no less than $500,000
- 9. Summary Home goods shopping destination for unique, eclectic and affordable home goods Lack of brand awareness, constantly being overshadowed by mainstream home goods stores Targeting younger, hipper target audience (18-34 year olds) Engaging social media sites, including competitions and giveaways Increase brand awareness and sales by increasing social media activity
- 10. Resources http://www.worldmarket.com http://en.wikipedia.org/wiki/Cost_Plus,_Inc. http://www.worldmarketcorp.com/about-us/ http://www.worldmarketexplorer.com/benefits/