Create a 2016 Digital Marketing Plan for a Fortune 500 company. You have $1 million in advertising dollars to allocate between paid search marketing, affiliate program(s), banner ads, and email campaigns.
Select one company from Fortune magazine’s “World’s Most Admired Companies”. (see link below) (*You may select a different company with approval.) Determine what the overall strategy for the company would be: brand awareness, direct response or lead generation.
Describe how you would allocate the money and why. Your choices should be based on measurable attributes and calculations. Do not just allocate money to a channel for no reason. I’ve included cost information for each channel below. You’ll have to estimate orders (for DR companies) and or “actions” for any company that is collecting customer lead information. You’ll need to calculate overall spend by channel for brand awareness clients. Be sure to spend the full media budget in the best way possible based on the company’s needs and the goals of the strategy you select. You’ll need to calculate cost for each channel in order to determine how the money is being used. A “calculated metrics” table can be found at the end if you need help with what metrics to calculate.
Identify what the major theme or key message would be for each channel. For example, if you choose Apple, the overall message might be “The Greenest Computers on Earth”. Describe how you would translate that message to each medium/channel.
Display: Banner ads would display a computer with green grass growing around it.
Email: Subject Line: Buy the greenest computer on earth. Inside the email you would see “Buy Now” links with a “grass” background.
Search Keywords: green computer, green computers, apple computer, green apple computer, etc.
Affiliate: Launch onto computer review websites such as engadget.com.
Do not take the above to be complete examples. Your answers should be much more thought out and complete. Use real world examples as inspiration. Be as creative as you can.
Plan the “flight dates” for each channel. You decide when and for how long each channel should run. You may choose to do two email blasts during the four weeks, have banner ads live for all four weeks and run a paid search campaign for the middle two weeks. Provide the dates and the reason you would choose the flight date for each channel.
Fortune’s Most Admired Companies
• 4 to 6 pages
• 1 inch margins
• 12 point font (11 point font is ok)
• Double spaced
• Microsoft Word format (preferably) but PDF, MS Works, or Open Office formats are acceptable as well.
Feel free to include any Excel files for supporting information including any metrics, numbers, formulas and calculations.
The final paper/project is worth a maximum of 108 points. It will be graded on the completeness of your answer. In other words, did you have a fully thought out Marketing Plan with examples, calculated metrics and estimated clicks, orders, or other key performance indicators (KPI’s)?
The Channel Costs:
Note: These tables can also be found in the MKT 595 Final Excel file on D2L. All company names are made up.
The following tables show the costs and metrics for three different agencies (aka providers) that will be running and launching your campaigns for you. If you choose Aquina’s email service, then calculate the costs for using their service based on the tables laid out below.
Any Combination: Be Creative
You may choose Stellaron for Paid Search and Zenix for their affiliate services. Any combination of the below can be used. Note that the cost per email listed below is for “blocks” so you may choose to send 200,000 emails through Aquina. The cost would be $.09 times 200,000 emails or $18,000. Also note that the impressions and actions listed below are per week so if you plan on running the channel for all four weeks of the program, you’ll have to calculate the cost for that time period. You can choose to run a channel for as long or as little as you’d like.
Aquina Stellaron Zenix
Cost/Email $0.09 $0.20 $0.12
Email Blast minimum 100,000 25,000 50,000
CTR 2.0% 6.0% 4.0%
Conversion Rate 1.5% 2.0% 1.5%
Impressions (per week) 1,000,000 1,800,000 2,200,000
Avg Keyword Cost $0.35 $0.20 $0.45
CTR 1.5% 1.3% 3.0%
Conversion Rate 1.5% 1.0% 2.5%
Impressions (per week) 7,500,000 10,200,000 3,000,000
CPM $20 $5 $15
CTR 0.25% 0.10% 0.50%
Conversion Rate 0.50% 0.25% 0.75%
“Guaranteed” Actions (per week) 1,000 750 1,200
Cost per Action $45 $65 $35