RE: Week 6 DiscussionCOLLAPSE
Hello Class,
The service my company offers is leadership development through a fully customized learning management system (LMS).
LinkedIn will be used exclusively to drive my marketing strategy. My target audience is business professionals who are looking to enhance their leadership capability by taking on-line training via the Perfect-Us LMS. According to LinkedIn’s Sophisticated Marketer’s Guide to LinkedIn, 94% of B2B marketers use LinkedIn as a content distribution channel, compared to Twitter at 89%, Facebook at and YouTube at 77% and Google at 61% (Gallant, 1). LinkedIn provides an excellent opportunity to connect with my potential customers via the companies LinkedIn page and continually pushed marketing messages.
I will be able to collect several data points that will become indicators if my marketing campaign is successful. I will collect the number of followers on my company page, the number of likes per pushed marketing messages, the comments on posts, and how may posts were shared through customer sites. All of these data points can be translated into KPI’s that will help understand the ROI of this social media channel. The operational costs are relatively low utilizing this platform, so the ROI will equal the conversion of new clients that sign up to take courses through our LMS platform. The cost of time and labor to create the marketing messages and the discipline to continually push messages to get the word out will become time-consuming.
The company website is critical to the success of the Perfect-Us LMS platform. The website will physically host the LMS platform for users to take selected leadership courses. The website has to be intuitive to the end-user so they can navigate to understand services offered, as well as how to sign up for and take courses. The website also has a sophisticated e-commerce platform to accept payment from potential clients. The company website will have a dynamic dashboard that collects behind the scenes data from the website that can be used as KPI’s to measure the ROI. I can measure the hit rate per page, the number of times the website is searched, what specific products are clicked on the most, the conversion rate of courses hit to purchase. This data will help assess the marketing strategy and allow for data-based decisions on what steps need to be taken based on the data of the KPI’s. Fully understanding how the website is measured via KPI’s is a critical component to ensure decisions are not based on emotions or feeling, but quantifiable data.
References,
John Gallant, Foundation Inc, 50+ LinkedIn Statistics for 2020 (Users, Demographics and More) https://foundationinc.co/lab/b2b-marketing-linkedin-stats/
Regards,
Korey
2nd response
RE: Week 6 DiscussionCOLLAPSE
Hello Professor Crispin and classmates
Why is this channel an appropriate choice to promote your product or service?
The social media channel that I would use is Facebook; the main reason is my targeted audience or the Millennial, who are known to use social media, especially Facebook. The traditional channel would be the United States Postal Service. Many people like to receive things in the mail with their names on them.
What type of data will you collect related to your use of this channel in your campaign?
The data that I could collect from Facebook would be that I could reach more people and get honest feedback on their thought about my service that I am trying to push my chosen company to offer. I would find out what that like or dislike about the proposed Flexible Pay, or if they were interested in signing up for the service. If enough consumers like my idea, they will become my sounding board and solicit the company to provide the service.
What metrics might be useful in assessing your return on investment for this channel?
Sales Growth Year-to-date
Cost of Customer Acquisition.
What might KPIs be useful in assessing your return on investment for this channel?
The number of Engaged Qualified Lead in Sales Funnel
The Number of New Contracts Signed per Period.
What type of content will be needed on your website to promote your product or service?
A short three-minute video with a family sitting in the dark, and then a Georgia Power Company field personnel pulls up and connects the meter, and the lights come on inside the house.
What type of data will you be able to collect from the company website to assess ROI? How will you collect this data?
I will track my performance metrics like Cost of Customer Acquisition by the number of customers signing up for the service. I know how much it costs to advertise on Facebook, the cost of invites mailed, and the number of customers who have signed a contract to figure out if the profits are above my price.
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