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Digital marketing campaign capstone project
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Capstone project for completion of course on Coursera. The project is for Digital Marketing Specialization
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- 1. CAPSTONE PROJECT- GRAINGER AND BOSCH Digital Marketing Campaign ABSTRACT Digital Marketing Campaign to increase the sales of Bosch power tools by 10% on www.grainger.com Karan Rustagi Digital Marketing Specialisation
- 2. CAPSTONE PROJECT-Grainger and Bosch 1 TABLE OF CONTENTS 1 Executive Summary 2 2 Client and Industry Analysis 3 3 Problem Statement 8 4 Consumer Decision Journey 8 5 Data Collection and Analysis 11 6 Channel Strategy 16 7 Test and Control Plan 21 8 Endnotes 23
- 3. CAPSTONE PROJECT-Grainger and Bosch 2 EXECUTIVE SUMMARY The work in this document is a result of 6 weeks of effort expended in order to complete the Capstone Project for the Digital Marketing Course offered by University of Illinois at Urbana/Champaign via Courera. This project is meant for the application of all the theoretical concepts that I have gone through in the past 5 courses offered by the institute. The project uses the concepts of digital marketing in order to help Grainger have an increase in the sales of Bosch power tools by 10%. I have learnt the following from this project: • Mapping Consumer Decision Journey • Application of Digital Marketing Concepts • Creating content for Digital Marketing • Creating a test and control plan
- 4. CAPSTONE PROJECT-Grainger and Bosch 3 CLIENT ANALYSIS GRAINGER Business model and strategy for growth: Grainger is one of the most oldest and prominent suppliers of MRO products in the industry. It primarily focuses on serving customers that are a part of healthcare, manufacturing, hospitality and government sectors. The company is a distributor for over 7000 brands and has a portfolio of more that one million products in USA alone. It also has operations spread across 160 countries. The strategy for the growth of Grainger is as follows: 1.The most locations: Grainger has more than 600 stocking branches in north America, because of which there is quicker distribution possible. 2.The most inventory: Grainger carries a large amount of inventory and they go in for the service level as they are in ‘speed and convenience’ category. 3.The best catalog: Grainger also has the paper catalog as the consumers find it easier to use a paper catalog. This is one of the most important things in the ‘speed and convenience’ category. 4.The easiest to use website: Grainger.com is well designed and easy to use. This ensures that the customers manage to quickly go through the entire process of purchase on grainger.com. Online presence (website traffic trends and social platforms) Grainger is a pioneer in e-commerce. In terms of digital marketing, Grainger goes for the following options: 1.Paid search 2.Display Media 3.E-mail 4.Social Media 5.SEO Social media presence: Facebook Page: 195,000 followers Twitter: 25000 followers LinkedIn: 94000 followers Youtube: 4037 subscriptions Instagram: 4516 followers
- 5. CAPSTONE PROJECT-Grainger and Bosch 4 Customers of Grainger.com: Geographically, the visitors of Grainger.com are from the following countries: USA (83.5%) Canada (1.8%) India (1.7%) China (1.4%) Mexico (1.2%) Note: the above data is collected from Alexa.com
- 6. CAPSTONE PROJECT-Grainger and Bosch 5 MAINTENANCE, REPAIR AND OPERATIONS INDUSTRY The MRO services companies provide products and services that are essential for the smooth functioning of manufacturing plants and operational facilities. The products are generally provided by original equipment manufacturers and are classified into product based and service based facilities. The MRO industry is highly competitive and is fragmented in nature. The only way for the companies to differentiate themselves from the competition is to ensure that they provide services at short notice and the products/services are available at competitive prices. The market has been seeing consistent growth in the past. The CAGR is supposed to be 5% which is good enough for the industry. The key drivers for the MRO market are: 1.Demand for reduced production downtime 2.Increase in manufacturing activities 3.Demand for predictive maintenance 4.Technological advancement Competitors: 1.Sonepar 2.Wolseley 3.Rexel 4.Wurth Group 5.W.W.Grainger
- 7. CAPSTONE PROJECT-Grainger and Bosch 6 BOSCH Bosch power tools: Bosch power tools is a part of the Bosch group which is known as Robert Bosch Tool Corporation. The brand is the world leader in power tools and power tools accessories. The core success factor for Bosch power tools is innovation. Each year Bosch launches more than 100 new power tools in the market. The brands which are owned by Bosch power tools is as follows: Primary and Secondary Customers: The primary audience are those who will be directly using the product and the marketing campaign is directly targeted to them. Example for primary audience is: General contractor, carpenter, electrician, plumber … The needs of the primary audience is as follows: 1. Specifications of the product 2. Quality of the product 3. Usage of the product 4. Features of the product The secondary audience includes the group of people who influence the purchase of the products which are to be used by the primary audience Examples: purchase manager, finance manager … The needs of the secondary audience is as follows: 1. Price of the product 2. Usefulness of the product 3. Time of delivery Trends between the primary and the secondary audience: 1. In terms of B2B marketing, the need for a product is recognized by the primary audience. 2. The role of the secondary audience is to either approve the demand or reject it.
- 8. CAPSTONE PROJECT-Grainger and Bosch 7 3. There is direct relation between the primary and secondary audience. The primary audience can pressurise the secondary audience to ensure that the product will be bought Perception about Bosch power tools: Ideology: The short term profits will not overweight the customer trust and loyalty. Bosch’s most important principle was to make products that would raise the quality of the life of the consumer. Thus, the perception towards Bosch is that the quality of the product is extremely high. SWOT Analysis: Strength: 1. Extensive focus on R&D-4593 Patents filed 2. Balanced portfolio 3. Continuous innovation 4. Quality of product Weakness: 1. High costs 2. Employee productivity 3. Lesser access to customer Opportunity: 1. Increased mode of selling 2. Increase in the demands for the products 3. Innovation in the industry Threats: 1. New players in the market Bosch power tools online presence: Facebook: 1764000 followers. Youtube: 4500 followers. Twitter: 660 followers. BOB community is a platform where the customers can get in touch with the others and with the company and find a way of communicating about the power tools and the uses of the power tools. This community will thus inculcate the sense of a consumer loyalty for the company.
- 9. CAPSTONE PROJECT-Grainger and Bosch 8 PROBLEM STATEMENT The major issue that we will work on this project is increasing the sales of Bosch power tools on www.grainger.com by 10% under three different scenarios which are expressed in detail in the following pages. The mode of increasing the sales is only via digital marketing. BUSINESS OBJECTIVE, CONSUMER DECISION JOURNEY AND CONCERNS Scenario 1: The customer knows that the product required to solve the solution is available from www.boschtools.com , but what he/she does not know is the fact that there is a website from which the tool can be purchased. Questions related the marketing objectives of the company alongside their respective stages in the consumer decision journey. Analysis that are available at the respective stages in consumer decision journey.
- 10. CAPSTONE PROJECT-Grainger and Bosch 9 Thus, this means that Grainger does not even make it through the initial consideration set of the consumers. The objective of Grainger linked to this scenario is called “building brand awareness”. Scenario 2: The customer knows the product required, he/she also knows that the product required is available on www.grainger.com and then comes the moment of purchase. The customer will then start looking at the details of that product and then either make the purchase or not. The objective of Grainger linked to this particular stage is called “improving sales process”. Scenario 3: The customer initially looks into the power tools category from Bosch, but due to the availability of a lot of different categories available from Grainger, the customer goes through the active evaluation stage and starts to wonder if any other product can be used to satisfy the needs. The objective of Grainger linked to this particular stage is called “Influence Consideration”. SCENARIO CDJ CONCERN ANALYSIS 1 Initial consideration set Information about the product Which websites are available to purchase the product Competitive intelligence using: 1.Google Trends 2.Google Correlate 2 Moment of purchase What are the specifications offered by different brands Prices of the products offered under different brands Outcome analysis using: 1.Mongoosmetrics 2.Live person 3.Customer search history 3 Active Evaluation Is this the only product available to fix my problem Experimentation/testing using: 1. Adwords campaign tester 2.google website optimizer
- 11. CAPSTONE PROJECT-Grainger and Bosch 10 BUSINESS OBJECTIVES AND THEIR RESPECTIVE SCENARIO: Scenario 1: The objective of the company related this scenario as stated earlier is “Build awareness”. This objective best suit the scenario only as the consumer just knows the product that is going to be required to satisfy the needs. What the consumer does not know is that there is a company called Grainger, which can be used to purchase the product. Scenario 2: The objective of the company related to this scenario as stated earlier is “ Improve sales process” This objective suits the scenario only as the consumer has logged into the website off Grainger after visiting the website of bosch tools. The consumer has also gone straight to the power tools ection. This means that the consumer is aware of the company and has no other evaluation to make I terms of the category. The only thing left is to analyse if the consumer has purchased the product or not. The consumer might not purchase the product if the sales process is not very swift and easy. Scenario 3: The objective of the company related to this scenario as stated earlier is “Influence consideration” The objective suits this scenario as the consumer has visited www.grainger.com after visiting www.boschtools.com and has gone straight to the plumbing category instead of the power tools category. This means that the consumer is still actively evaluating its options to satisfy needs.
- 12. CAPSTONE PROJECT-Grainger and Bosch 11 DATA COLLECTION AND ANALYSIS BUSINESS OBJECTIVE KEY QUESTION DATA -> SOURCE BUILD AWARENESS Do consumers recognize my brand Do customers recall my brand Number of players in the market -> google analytics Number of visitors from bosch to grainger -> alexa IMPROVE SALES FORCE Do my sales efforts result in wins for my brand Number of sales made -> website Quantity available -> website Ease of sales process -> customer survey INFLUENCE CONSIDERATION Do my products satisfy consumer needs Brand positioning -> alexa Direct link to power tools under grainger -> website Key Sources of Data: The data that is required based on the above stated objectives are: • Competitor data • Customer data • Sales data • Brand positioning data The following are the available sources to collect the above-mentioned data: • Primary data from Grainger • Google analytics • Alexa BUSINESS OBJECTIVE KEY PERFORMANCE INDICATORS (KPI) Build Awareness Acquisition KPI: Clickthrough Rate – Bosch powertools page and ads % New Visits - Bosch powertools page and ads Cost per click on ads Cost per impression Behavious KPI: Bounce rate Abandonment Rate Events per visit Outcomes KPI: Return on advertising spends
- 13. CAPSTONE PROJECT-Grainger and Bosch 12 Days to conversion Improve Sales Force Acquisition KPI: CTO on email (Details on epre-order) Site traffic CPA on email Behaviour KPI: Bounce rate on email Session length Abandonment rate Outcomes KPI: ROAS- sales conversion on email % assisted conversion rate Influence Consideration Acquisition KPI: CTO on email (Asking customers to join email registry) Unique open rate CPA on email Behavious KPI: Bounce rate on email registry Session length on email registry Outcomes KPI: Database conversion rate ROAS based on email Biases And Methods Of Eliminating Them: Before we go in for the biases that may hamper the research, it is important to understand what kind of research will be used for solving the issue in Grainger’s case. The following picture will give enough reasons to show why Fundamental research is the perfect fit for the type of research in Grainger’s case
- 14. CAPSTONE PROJECT-Grainger and Bosch 13 As shown in the above pic, fundamental research is suitable in this case as this research will aim at solving a problem by adding to the field of application of digital marketing and it researches individual case of Grainger increasing the sales of Bosch powertools by 10%. Bias according to NCBI is: “systematic error [is] introduced into sampling or testing by selecting or encouraging one outcome or answer over others” 7 . Bias can occur at any phase of research, including study design or data collection, as well as in the process of data analysis and publication As this particular case is revolving around fundamental research and secondary data, there are only a few biases that can hamper the entire process. The types of biases are as follows: Sampling / Selection Bias: This type of bias majorly takes place only when secondary data is included. Tis bias is introduced in the selection of the data as the researcher would not have ensured that proper randomization had been achieved. This would mean that the data selected would not represent the entire population. Interpretation Bias: This type pf bias takes place when the results of an analysis have to be interpreted in a certain manner. It refers to inapproporiately analysing or interpreting the results of an analysis. The proper definition for the same is: Interpretive bias or interpretation bias is an information- processing bias, the tendency to inappropriately analyze ambiguous stimuli, scenarios and events. One type of interpretive bias is hostile attribution bias, wherein individuals perceive benign or ambiguous behaviors as hostile. Methods of avoiding the above mentioned biases: • Creating a data analysis plan before the survey takes place • Remaining true to the survey’s purpose • Having a firm understanding of the topic
- 15. CAPSTONE PROJECT-Grainger and Bosch 14 • Clear definition of the required data • Being specific in the research findings • Avoid using broad terms during the analysis DATA ANALYSIS PLAN: Based on the research, the analysis chosen is descriptive . Grainger currently uses a few KPIs which give them a rough idea of about how good their digital marketing campaigns are. By data mining, conversion of data into information, and utilizing KPIs properly, powerful insights can be developed about any digital marketing campaign. Grainger uses certain data to measure the following KPIs: • Click through rate (CTR) • Cost per acquisition (CPA) • Return on advertising spends (ROAS) • Repeat visits These are some of the most important KPIs that can be used to measure the results of a digital marketing campaign, but other than that, a few more KPIs can be used to ascertain the detailed results of a campaign. These KPIs as mentioned earlier are as follows: • Click to open rate (CTO) • Unique opens • Site traffic • Bounce rate • Shopping cart abandonment rate • Conversion rates BENCHMARK FOR DATA TO BE COLLECTED: To achieve an increase of 10% on www.grainger.com for bosch power tools, the following benchmarks have to be set for the following online digital activities: Display Ads: The average CTR for display advertisements in USA and Canada respectively are 0.10 and 0.09. Thus, the CTR for the display advertisements from www.grainger.com should either be the same or above the average CTR in the respective countries. The average CPA in the e-commerce industry in 46.07$ and this should be the benchmark for Grainger. Email (Registrations):
- 16. CAPSTONE PROJECT-Grainger and Bosch 15 The benchmark based on the industry average for the e-commerce industry for CTO should be 16.75% and for bounce rate, it should be lesser than 0.24% Email (E-purchase): The conversion rate for the industry in USA is 3.00% and the same or above should be the benchmark for Grainger. The average shopping cart abandonment rate is 69.70% and the rate should be lesser than the average for Grainger. Social media activity: The benchmark for social media interactions with the posts according to social media ambassador would be 11.4 Paid search: The average click-through rate on AdWords paid search ads is about 2%. Accordingly, anything over 2% can be considered an above average CTR. Thus, this should be the company’s average. Summary Of Plan: OBJECTIVE: Increase sales of bosch power tools on www.grainger.com by 10% Goal: Building Brand awareness Goal: Improving Sales Process Goal: Influence Consideration KPI: Share of visits, CTR KPI: CTO, Abandonment rate KPI: CTO, Bounce rate, Unique open rate Segment: On site search Segment: Purpose of visit Segment: Product recommendation Target: CTR- 0.10 (Display ad) CTR- 2% (Paid search) Target: CTO- 16.75%( registrations) CTO- 3% (E- purchase) Abandonment rate- Less than 67% Target: CTO (As mentioned Before) Bounce rate- Less than 0.24%
- 17. CAPSTONE PROJECT-Grainger and Bosch 16 CHANNEL STRATEGY Email And Display Campaigns For The Users In Audience Category 1 Scenario 1: Display Campaigns: The banner should include company details and should be a flash ad to gather the attention of the consumers. The advertisement should lead the consumers directly to www.grainger.com As it is quite easily visible on www.boschtools.com , there is no space on the left or the right side of the page, and thus, the banner should be displayed on the bottom. Thus the size of the banner should be 300*250. Scenario 2: Display Campaign: As the customer has logged into his account on www.grainger.com , and has left the cart without purchasing it, the cookies can be used in order to use display advertisements on various websites such as google, facebook and youtube The advertisement can be on the right side of the websites. The size can be 300*600 E-mail Campaign: The customers can also be sent reminders about the offers available and the quantity available on E-mail. This mail can also be sent to audience 2 for approval. Scenario 3: Display Campaign: As the customer has logged into the account and has started visiting other categories, banner advertisements can be shown to the customer on the other websites to show them what their needs are and the only solution would be bosch tools. The advertisement can be on the right side of the websites. The size can be 300*600 E-Mail Campaign: The customer should be sent reminders about the products under the powertools category , the usage of the product, and the pricing , so that the audience can sent it to audience 2 for approval. Email And Display Campaigns For The Users In Audience Category 2 Scenario 1: Display Campaign: The same display ad which was showed to the audience 1 will be shown here. E-Mail Campaign: E-mails to the procurement officers can be sent which state the salient features of the website and why the company should buy from Grainger.
- 18. CAPSTONE PROJECT-Grainger and Bosch 17 Scenario 2: Display Campaign: a comparative display advertisement can be shown to prove to the customers how competitively priced the products are. The display ad can also show the quick delivery process. The banner ads will be put up specially on www.google.com to ensure that the audience sees it when they are doing research on other sellers. The advertisement can be on the right side of the websites. The size can be 300*600 E-Mail Campaign: In order to improve the sales experience, an e-mail can be sent to the customers for registrations and to remind them about the powertools, and majorly their prices. Scenario 3: Display Campaign: Redirecting display advertisement can be put up on google in order to ensure that the customer goes directly to the power tools website. The display ad would show the usage of the product. The advertisement can be on the right side of the websites. The size can be 300*600 E-Mail Campaign: An email can be sent to the audience which would describe the details of the products along with their uses and pricing to ensure that the audience’s doubts are cleared. The email would lead the audience straight to the powertools category. RECOMMENDATIONS FOR DISPLAY AD: Scenario 1: Under this scenario, what the company (Grainger) has to do, is to create brand awareness on the website of bosch power tools ie www.boschtools.com .The following is a mock-up ad which shows the type of ad that can be displayed: Scenario 2:
- 19. CAPSTONE PROJECT-Grainger and Bosch 18 For the customers who have logged in, and finalised the products, but have abandoned the cart, display advertisements can be showed on websites such as facebook.com and answer.com to ensure that they are reminded about the products viewed and the discounts available. The following mock-up ad can be considered as an example: Scenario 3: For the customers who have logged in but have not visited the power tools category, it is important that a display advertisement be made to ensure that the customers are reminded about the usage of the product and what the product can do. This display advertisement can be used on google and facebook to ensure that the customers are redirected to the website and specifically, the power tools category. The following mock-up advertisement can be used as an example: Recommendations for E-Mail Ad: Scenario 1: It is important for grainger to ensure that e-Mails are being sent to the target consumers who have visited Bosch. The company can ensure that they get registrations by providing incentives to the consumers. The following is a mock-up email content for the consumers:
- 20. CAPSTONE PROJECT-Grainger and Bosch 19 Scenario 2: The biggest issue faced by the company is in terms of the abandonment rate or the shopping cart abandonment. The company can either send display advertisements or also send personalised emails using cookies to remind the consumer that they have an item unpurchased in their cart. The following is an email ad mock-up:
- 21. CAPSTONE PROJECT-Grainger and Bosch 20 Scenario 3: The major problem is that the consumer visits another category instead of the power tools category. There can be a link which will redirect the consumer directly to the power tools category or the webpage of the power tool on grainger. The following is a mock-up for the email: Alignment of the email and display ad to Bosch power tools Currently, Grainger’s emphasis on professionalism has a distinctly different look from that of its competitors. The one thing that Bosch focuses on mainly is ‘Quality’. Bosch would not mind pricing extra for ensuring quality as the company believes that maintaining long term relationship is extremely important. Bosch also believes in creating a community for its users in order to establish better relationship with them Grainger is in sync with the same ideology as Bosch does. The value that Bosch provides is quality in exchange for higher price. Grainger charges competitive prices for value added services such as immediate deliver, emergency delivery, auto re-order etc. Grainger also gives the consumers the opportunity to compare products from different brands in order to get a better idea for purchase.
- 22. CAPSTONE PROJECT-Grainger and Bosch 21 Thus, Grainger is aligned with the brand image of Bosch tools and thus it compliments them. TEST AND CONTROL PLAN: Using the above figure, the objectives should be derived. It is important to constantly test and make adjustments to this plan to counter outside influences. There are many techniques that Grainger could implement to test and control its Digital Marketing plan meeting its business objectives. Three specific techniques will be examined: Surveys, Focus Groups, & Online Monitoring. These Test and Control techniques will be planned for Grainger to meet the following business objectives: Brand Awareness, Influencing Consideration, & Improving Sales Process. Business Objective Test/Control Method Type of Research Influence Consideration Focus Group Secondary/Qualitative Brand Awareness Survey Primary/Qualitative Improving Sales Process Online Monitoring Secondary/Quantitative
- 23. CAPSTONE PROJECT-Grainger and Bosch 22 Surveys: Surveys should be created by www.grainger.com in order to gather primary data which would ensure that the company would find out about the consumer behaviour. As there is an increase in the number of customers who are available on social networking websites, online social network surveys will be beneficial for the company. Surveys would help Grainger better understand the consumers, and thus perform better in the market. Surveys will give Grainger the content about brand awareness. Questions such as Do you know Grainger? Do you purchase online? Why do you purchase from Grainger? Which company do you prefer? What are the attributed influencing purchase? Can give some qualitative data. This Qualitative data will not only inform Grainger the way it is perceived, but what it needs to improve as well. This type of survey will help the company better understand the consumers, their decision making process and what the relationship with the competitor is. Focus Group: Focus Groups are recommended for Grainger to use when trying to Influence Consideration of its products. This Primary data can provide marketing managers, product managers, and market researchers with a great deal of helpful information, to entice people to choose Grainger as their supplier of BOSCH Power Tools. focus groups have a distinct advantage over some other types of market research: they are flexible by design, capitalize on decision- makers ability to talk to their customers and their knowledge of their brand, product, or services. This Test and Control Technique will be useful to gather information on customers that access Grainger.com directly as well as customers that access BOSCH.com first. By going ahead with focus groups, the company will be able to directly take inputs from the customers and have the desired output in having positive influence on consideration of the company for buying Bosch power tools. Online Monitoring: For improving the sales process, online monitoring is one of the best testing and controlling tools available. Online Monitoring is investigating one’s digital/internet presence. The Quantitative Data of Bounce Rates of the two websites will assist management at Grainger assume a correlation between a failed link between customers searching for BOSCH Power Tools on BOSCH’s website and those customers being redirected to Grainger’s plumbing home page when accessed. Online monitoring can also be used to find out the stage at which the customer has left shopping or abandoned his/her shopping cart. This would help the company also find out why the shopping cart has been abandoned. This kind of primary research will provide enough data to ensure that the sales process can be improved in the future.
- 24. CAPSTONE PROJECT-Grainger and Bosch 23 ENDNOTES Number of words: 3956 1. Alexa. Amazon, n.d. Web. <http://www.alexa.com/siteinfo/grainger.com>. 2. The secret to being Grainger. MDM, n.d. Web. <https://www.mdm.com/blogs/1- management-strategy/post/25913-management-strategy-2010-04-26-the-secret-to-being- grainger>. 3. MRO Industry. Businesswire, n.d. Web. <http://www.businesswire.com/news/home/20160928005534/en/Top-5-Suppliers- Maintenance-Repair-Operations-Services>. 4. MRO Global Drivers. Technavio, n.d. Web. <https://www.technavio.com/blog/what%E2%80%99s-driving-global-mro-services- market?utm_source=CMI&utm_campaign=Media&utm_medium=BW>. 5. Bosching. Superbrands, n.d. Web. <http://www.superbrands.com/turkeysb/trcopy/files/bosching_3862.pdf>. 6. How bosch learned to target on facebook. Digital training academy, n.d. Web. <Bosching. Superbrands, n.d. Web. .>. 7. Business Sectors and Divisions. Bosch, n.d. Web. <http://www.bosch.us/en/us/our_company_1/business_sectors_and_divisions_1/power_t ools_1/power-tools.html>. 8. Preparing for Analysis Journey. Coursera, n.d. Web. <https://www.coursera.org/learn/digital-analytics/lecture/xOQUP/lesson-2-preparing- for-the-analysis-journey-part-2>. 9. Digital Marketing and measurement model. Kaushik, n.d. Web. <https://www.kaushik.net/avinash/digital-marketing-and-measurement-model/>. 10. Cart Abandonment Rate. Baymard, n.d. Web. <https://baymard.com/lists/cart- abandonment-rate>. 11. Types of Analysis Data. Data Scientist insight, n.d. Web. <https://datascientistinsights.com/2013/01/29/six-types-of-analyses-every-data-scientist- should-know/>. 12. Adwords industry benchmark. Wordstream, n.d. Web. <http://www.wordstream.com/blog/ws/2016/02/29/google-adwords-industry- benchmarks>. 13.Internnet advertising. Smartinsights, n.d. Web. <http://www.smartinsights.com/internet-advertising/internet-advertising- analytics/display-advertising-clickthrough-rates/>. 14. Statistics for email marketing. Smartinisights, n.d. Web. <http://www.smartinsights.com/email-marketing/email-communications- strategy/statistics-sources-for-email-marketing/>. 15. E-Commerce conversion rate. Smartinisights, n.d. Web. <http://www.smartinsights.com/ecommerce/ecommerce-analytics/ecommerce- conversion-rates/>. 16. Potential Biases. NCBI, n.d. Web. <https://www.ncbi.nlm.nih.gov/pubmed/20049849>. 17. Digital KPI. Digital Current, n.d. Web. <http://www.digitalcurrent.com/digital- marketing/50-digital-marketing-kpis/>. 18. Marketing KPI. Zazzle Media, n.d. Web. <https://www.zazzlemedia.co.uk/blog/digital-marketing-kpis-2016/#gref>.
- 25. CAPSTONE PROJECT-Grainger and Bosch 24 19. Most important KPIs. Linkedin, n.d. Web. <https://www.linkedin.com/pulse/7-most- important-digital-marketing-kpis-track-rameshwar-thakur>. 20. Research Bias. Surveymonkey, n.d. Web. <https://www.surveymonkey.com/blog/2015/01/14/dont-let-opinions-sneak-survey-4- ways-avoid-researcher-bias/>. 21.Research bias. Quirks, n.d. Web. <https://www.quirks.com/articles/9-types-of- research-bias-and-how-to-avoid-them>. 22. Online- ads. Wordstream, n.d. Web. <http://www.wordstream.com/online-ads>. 23. Banner Advertising. Banersnack, n.d. Web. <https://www.bannersnack.com/blog/banner-advertising-basics/>. 24. Website Advertising. Click Tap Media, n.d. Web. <http://www.clicktapmedia.com/website-advertising-online-advertising>. 25. Abandoned Cart E-Mails. Shopify, n.d. Web. <https://www.shopify.in/blog/12522201- 13-amazing-abandoned-cart-emails-and-what-you-can-learn-from-them>. 26. E-mail marketing. Hubspot, n.d. Web. <https://blog.hubspot.com/marketing/email- marketing-examples-list#sm.0001rh3hrvqt6dzhqmz2r2v09agpk>. 27. Display ad statistics. Hubspot, n.d. Web. <https://blog.hubspot.com/marketing/horrifying-display-advertising- stats#sm.0001rh3hrvqt6dzhqmz2r2v09agpk>. 28. Website and online advertising. Click Tap Media, n.d. Web. <http://www.clicktapmedia.com/website-advertising-online-advertising>. 30. SMART Objectives. Funds for NGOs, n.d. Web. <https://www.fundsforngos.org/proposal-writing-2/understanding-smart-objectives- project-proposals/>. 31. Test control. Optimove, n.d. Web. 32. Test control. Measurement Mojo, n.d. Web. <http://measurementmojo.com/science- test-control-marketing-measurement/>.
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DMKT2410 - Digital Marketing Capstone
- Identify a marketing problem or opportunity to formulate a recommended course of action.
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- Demonstrate knowledge of the core concepts of digital marketing and management.
- Demonstrate knowledge in implementing, testing and measuring a digital marketing strategy.
- Demonstrate proficiency in communication by writing and presenting a business report.
- Apply technology to research, analyze, design, create, measure and communicate business decisions.
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DIGITAL MARKETING CAPSTONE VADIM USSOLTSEV MAY 2020 1 DIGITAL MARKETING CAPSTONE TABLE OF CONTENTS EXECUTIVE SUMMARY .................................................................................................................................... 2 1. CLIENT ANALYSIS ........................................................................................................................................ 3 1.1 OVERVIEW ............................................................................................................................................... 3 1.1.1 Overview and business model ........................................................................................................ 3 1.1.2 Growth model ................................................................................................................................... 3 1.2 MAINTENANCE, REPAIR, AND OPERATION (MRO) INDUSTRY IN THE NORTH AMERICAN REGION .......................................................................................................................................................... 3 1.2.1 Overview ............................................................................................................................................ 3 1.2.2 Major characteristics and trends .................................................................................................... 4 1.2.3 Major players .................................................................................................................................... 4 1.3 OVERVIEW ............................................................................................................................................... 6 1.3.1 Audience ........................................................................................................................................... 6 1.3.2 Primary audience ............................................................................................................................. 6 1.3.3 Secondary audience ........................................................................................................................ 7 1.4 SWOT ANALYSIS ..................................................................................................................................... 7 1.5 OVERLAPS BETWEEN BOSCH AND BOSCH POWER TOOLS BRAND IMAGE ................................. 7 1.6 SOCIAL MEDIA PRESENCE .................................................................................................................... 7 2. PROBLEM STATEMENT ............................................................................................................................. 10 3. CONSUMER DECISION JOURNEY ............................................................................................................ 11 3.1 SCENARIOS ........................................................................................................................................... 11 3.2 SCENARIOS MAPPING.......................................................................................................................... 11 3.3 CUSTOMERS CONCERNS .................................................................................................................... 11 3.4 ANALYSIS MAPPING ............................................................................................................................. 12 3.5 BUSINESS OBJECTIVES ....................................................................................................................... 12 3.6 PLANNING DOCUMENT ........................................................................................................................ 12 4. DATA COLLECTION AND ANALYSIS ........................................................................................................ 13 4.1 DATA COLLECTION ............................................................................................................................... 13 4.2 KPIs ......................................................................................................................................................... 13 4.3 BIASES.................................................................................................................................................... 13 4.4 DATA ANALYSIS AND BENCHMARKS ................................................................................................. 14 5. CHANNEL STRATEGY ................................................................................................................................ 16 5.1 EMAIL AND DISPLAY CAMPAIGNS ...................................................................................................... 16 5.2 LIST OF RECOMMENDATIONS ............................................................................................................ 18 6. TEST AND CONTROL PLAN ....................................................................................................................... 19 7. WORD COUNT ............................................................................................................................................. 23 8. CITATIONS ................................................................................................................................................... 23 VADIM USSOLTSEV 2020 2 DIGITAL MARKETING CAPSTONE EXECUTIVE SUMMARY This is a consolidated digital marketing plan that includes the steps that need to be taken in order to meet the business objectives. Plan will take you from the Client analysis to the Test and Control plan. VADIM USSOLTSEV 2020 3 DIGITAL MARKETING CAPSTONE 1. CLIENT ANALYSIS 1.1 OVERVIEW 1.1.1 Overview and business model W.W. Grainger, Inc. is a broad line, business-to-business distributor of maintenance, repair and operating (MRO) supplies and other related products and services. More than 3.5 million businesses and institutions worldwide rely on Grainger for products in categories such as safety, material handling and metalworking, along with services like inventory management and technical support. Approximately 5,000 suppliers provide Grainger with 1.7 million products stocked in the company’s distribution centers (DCs) and branches worldwide. Grainger employs 24,600 team members across the globe. 1 Grainger's customers are two million businesses and institutions in more than 150 countries. The Grainger team works closely with customers to better understand their challenges and provide cost-saving solutions. Grainger's team members serve customers around 96,000 times every day through multiple channels: • Sales network • Branch network • Website - Grainger.com • The Grainger Catalog Delivering commitments to its customers is the #1 priority at Grainger. Grainger is committed to developing employees who help them win with its customers. These attributes define how the Grainger conducts business and how interacts with others: • • • • • Wow the Customer: Take personal responsibility for creating an exceptional customer experience Have a Winning Attitude: Make courageous decisions Drive for the Best Results: Work hard with integrity Make the Team Better: Take personal responsibility for the team's success Lead the Way: Build a sustainable team that lives by Grainger's four performance drivers 1.1.2 Growth model2 Grainger growth model is focused on tracking record of driving top line growth at attractive margins: • • Increasing share of wallet with existing customers through high-touch model Driving new customer acquisition through midsize customer strategy and endless assortment model 1.2 MAINTENANCE, REPAIR, AND OPERATION (MRO) INDUSTRY IN THE NORTH AMERICAN REGION 1.2.1 Overview The global power tools market size was valued at $32,664 million in 2019. Power tools have transformed different industries such as automotive, construction, and other by saving the effort and time necessary for simple tasks, such as screw driving to complicated tasks including breaking and sawing. 1 2 https://s23.q4cdn.com/963347031/files/doc_downloads/factsheet/2019_Snapshot.pdf https://invest.grainger.com/home/default.aspx VADIM USSOLTSEV 2020 4 DIGITAL MARKETING CAPSTONE The power tools market has witnessed continuous growth in the past few years and is projected to grow even further during the forecast period (2020-2024). The market is expected to be driven by various growth enhancing factors such as rapid industrialization, increasing construction and infrastructure development, growing demand for commercial vehicles, etc. However, the market is not free from challenges that are hindering its growth. Some of the major challenges faced by the market are human safety risks and high maintenance cost. 1.2.2 Major characteristics and trends North America held the second largest market for the power tools owing to the growth in the manufacturing industries and well-established distribution network. However, the high labor cost is the primary concern for the manufacturers in the region. Global Power Tools Market by Region, 20183 Growing demand for cordless tools coupled with the rapid adoption of flexible battery systems, increasing popularity of ‘DIY Culture’ and infrastructural developments to meet the needs of a growing population has propelled the demand for power tools market in North America. Moreover, growing investment in the housing sector would lead to a surge in demand for power tools over the coming years. North America Power Tools market size is expected to grow moderately during 2020-2026. In the USA, there has been an increased demand for efficient power tools due to the growing popularity of flexible battery systems that eliminate redundancy and galvanize the productivity of power tool operators. However, during the forecast period, the Canada market is expected to register substantial growth in the demand for power tools on the back of a surge in infrastructure projects in the country. Based on applications, the industrial segment is likely to maintain the largest market share in the North America power tools market during the forecast period. Based on modes of operation, the share of electric tools in the market is at an all-time high and is likely to grow further during the forecast period. Moreover, the growing trend of self-renovating houses in North America due to the high costs of hiring professional plumbers, carpenters, electricians, etc. is likely to increase residential demand for drilling and fastening tools during the forecast period. 1.2.3 Major players4 3 4 https://www.marketresearchfuture.com/reports/power-tools-market-3571 https://craft.co/ww-grainger/competitors VADIM USSOLTSEV 2020 5 DIGITAL MARKETING CAPSTONE VADIM USSOLTSEV 2020 6 DIGITAL MARKETING CAPSTONE 1.3 OVERVIEW The company was set up in in Stuttgart in 1886 by Robert Bosch. Operations are divided into 4 business sectors: • mobility solutions • industrial technology • consumer goods • energy and building technology The Power Tools Division of the Bosch Group is the world market leader for power tools and power tool accessories. The core success factors are innovative strength and pace of innovation. Each year, Bosch launches more than 100 new power tools onto the market. For more than 100 years, Bosch has been a leader in quality and innovation in North America. Our passion for excellence stems from our founder, Robert Bosch, whose conviction and purpose are indelibly woven into the fabric of the company. Bosch is committed to making customers' lives safer, more efficient and more comfortable through the innovations and services supplied. Each year, Bosch spends more than $5.7 billion, or eight percent of sales revenue, on research and development, and applies for over 3,000 patents worldwide. North America is home to numerous Bosch facilities, including research laboratories, administrative and engineering centers, manufacturing plants and offices. The company employs nearly 24,000 associates in North America. 1.3.1 Audience The Consumer Goods business sector contributed some 23% of total Bosch Group sales in 2018. Its Power Tools division is a supplier of power tools, power-tool accessories, and measuring technology. In addition to power tools such as hammer drills, cordless screwdrivers, and jigsaws, its extensive product portfolio also includes gardening equipment such as lawnmowers, hedge trimmers, and high-pressure cleaners. 1.3.2 Primary audience Bosch develops innovative, high quality power tools that are guaranteed to produce professional results in all fields of craftsmanship aimed at professional users in trade and industry, the DIY market. Key Professional Trades: • • General Contractors Carpenters VADIM USSOLTSEV 2020 7 DIGITAL MARKETING CAPSTONE • • • • • • • • • Concrete & Masonry Facilities Maintenance Electricians Plumbers HVAC Remodelers Woodworkers Framers Landscapers 1.3.3 Secondary audience5 Amateur crafters who need easy-to-use power tools at affordable price. This new target audience is increasing and will increase year-to-year. 1.4 SWOT ANALYSIS6 STRENGTHS • • • • • • • • Highly successful at Go-To-Market strategies for its products. Highly skilled workforce Strong Brand Portfolio Strong distribution network Successful track record of developing new products – product innovation. Strong Free Cash Flow Successful track record of integrating complimentary firms through mergers & acquisition Superb Performance in New Markets WEAKNESSES • Not highly successful at integrating firms with different work culture • The marketing of the products left a lot to be desired • Investment in Research and Development is below the fastest growing players in the industry • High attrition rate in work force • Limited success outside core business • The company has not been able to tackle the challenges present by the new entrants in the segment and has lost small market share in the niche categories OPPORTUNITIES THREATS • Government green drive also opens an opportunity for procurement of Bosch products by the state as well as federal government contractors • Stable free cash flow provides opportunities to invest in adjacent product segments • The market development will lead to dilution of competitor’s advantage and enable Bosch to increase its competitiveness compare to the other competitors • New customers from online channel • The new technology provides an opportunity to Bosch to practices differentiated pricing strategy in the new market • Changing consumer buying behavior from online channel could be a threat to the existing physical infrastructure driven supply chain model • Growing strengths of local distributors • No regular supply of innovative products • Economic recession caused by COVID-19 pandemic • Currency fluctuations especially given the volatile political climate in number of markets across the world • Increasing trend toward isolationism in the American economy • New technologies developed by the competitor or market disruptor 1.5 OVERLAPS BETWEEN BOSCH AND BOSCH POWER TOOLS BRAND IMAGE Strong overlap exists to those who are not familiar with the Bosch company and its product categories. Personally, I thought it was the same and only after starting the research I got the understanding what is the difference between these two. I assume the same feeling and perception emerges for the vast of the customers. 1.6 SOCIAL MEDIA PRESENCE Bosch Power Tools is presented in the following social media including website: 5 6 https://assets.bosch.com/media/global/bosch_group/our_figures/pdf/bosch-today-2019.pdf http://fernfortuniversity.com/term-papers/swot/1433/1056-bosch.php VADIM USSOLTSEV 2020 8 DIGITAL MARKETING CAPSTONE Traffic overview for https://www.boschtools.com/us/en/ as of March 20207: Traffic by countries: Social media: Top referrals: 7 https://www.similarweb.com/website/boschtools.com VADIM USSOLTSEV 2020 9 DIGITAL MARKETING CAPSTONE Search: VADIM USSOLTSEV 2020 10 DIGITAL MARKETING CAPSTONE 2. PROBLEM STATEMENT To design a multi-channel digital marketing campaign for the client, Grainger, as they target a sales increase of Bosch Power Tools by 10% on Grainger.com. The client wants the campaigns to focus on display advertising and email for this project. VADIM USSOLTSEV 2020 11 DIGITAL MARKETING CAPSTONE 3. CONSUMER DECISION JOURNEY 3.1 SCENARIOS How can Grainger increase sales of Bosch Tools power tools on Grainger.com to customers who first visit Boschtools.com? Consider the scenarios listed below. • • • Scenario 1: Audiences that visit Boschtools.com, look at a power tool (for example a drill), but do not visit Grainger.com Scenario 2: Audiences that visit Boschtools.com, look at a power tool, and then visit Grainger.com, log in to Grainger.com, and visit the power tools category Scenario 3: Audiences that visit Boschtools.com, look at a power tool, and then visit Grainger.com, log in to Grainger.com, and visit the plumbing category but not power tools 3.2 SCENARIOS MAPPING Initial consideration Moment of purchase Active evaluation Scenario 3 - Audiences that visit Boschtools.com, look at a power tool, and then visit Grainger.com, log in to Grainger.com, and visit the plumbing category but not power tools Scenario 2 - Audiences that visit Boschtools.com, look at a power tool, and then visit Grainger.com, log in to Grainger.com, and visit the power tools category Scenario 1 - Audiences that visit Boschtools.com, look at a power tool (for example a drill), but do not visit Grainger.com Scenario 1 - Initial consideration - Do consumers recall and recognize my brand? - customer visits the well-known manufacturer just to understand what power tools are presented on the market and by this particular manufacturer. Customer is in the very beginning of the CDJ and performs the market analysis. That’s why the customer does not go further to retailers. Scenario 2 - Active evaluation - Do my products satisfy consumers’ needs? - the customer already has a perception and understanding of the power tools market (manufacturers, retailers, prices, etc.) but still hasn’t decided yet what exactly he wants and has doubts on whether selected products meet his needs and requirements. Also, this could be an existing customer who is aware of the brand. Scenario 3 - Moment of purchase - Do my sales efforts result in wins for my brands? - the customer performed his evaluation, he got full perception of the power tools market but was not convinced enough that this particular retailer is a good choice to have a purchase of power tools and decided to shift his attention to other categories. Also, this could be an existing customer who is not satisfied with the previous experience with the power tools but is fine with the other categories provided by the retailer. 3.3 CUSTOMERS CONCERNS CDJ phase Initial consideration Scenario 1 Active evaluation 2 Moment of purchase 3 VADIM USSOLTSEV Concern • • • Too many information Low brand awareness Reliability of the information provided • • • Full and simple description of the product is not available Advantages over the competitors are not clear and indistinct Products’ comparison is not available (against own products and competitors) • • • Online purchase is not available Customer service quality is low Return policy is not customer friendly 2020 12 DIGITAL MARKETING CAPSTONE 3.4 ANALYSIS MAPPING CDJ phase Scenario Initial consideration 1 Concern • • • Too many information Low brand awareness Reliability of the provided • Full and simple description of the product is not available Advantages over the competitors are not clear and indistinct Products’ comparison is not available (against own products and competitors) • Active evaluation 2 • Moment of purchase • • • 3 Analysis • • AdWords Keyword Tool Google Trends • • Google Website Optimizer AdWords Campaign Experiments • • Mongoose Metrics LivePerson information Online purchase is not available Customer service quality is low Return policy is not customer friendly 3.5 BUSINESS OBJECTIVES Scenario Business objective 1 Build awareness of the Grainger.com 2 Influence consideration to buy at Grainger.com 3 Reposition the brand of Grainger.com 3.6 PLANNING DOCUMENT Business objective Key question Data → Sources Build awareness Do consumers recall and recognize Grainger.com brand? Search volume → Google Trends Influence consideration Do Bosch products presented at Grainger.com satisfy consumers’ needs? Customer inquiries → CSR DB Traffic → Google Analytics Reposition the brand Do the experience delivered at Grainger.com related to Bosch products fulfill customer expectations? Consumer feedbacks → Mongoose Metrics VADIM USSOLTSEV 2020 13 DIGITAL MARKETING CAPSTONE 4. DATA COLLECTION AND ANALYSIS Business objective Data → Sources Key question Build awareness Do consumers recall and recognize Grainger.com brand? Search volume → Google Trends Influence consideration Do Bosch products presented at Grainger.com satisfy consumers’ needs? Customer inquiries → CSR DB Traffic → Google Analytics Reposition the brand Do the experience delivered at Grainger.com related to Bosch products fulfill customer expectations? Consumer feedbacks → Mongoose Metrics 4.1 DATA COLLECTION In the table below the key data could be found that will be collecting and analyzing in this project. Business objective Data to collect Build awareness Search volume → Google Trends Influence consideration Customer inquiries → CSR DB Traffic → Google Analytics Reposition the brand Consumer feedbacks → Mongoose Metrics 4.2 KPIs The following KPIs are planned to be used to help direct the collection/analysis of the data. Below is the table with the KPIs against the data to be collected/analyzed. Business objective Build awareness Influence consideration Reposition the brand Data to collect Search volume → Google Trends, Google Analytics Customer inquiries → CSR DB Traffic → Google Analytics Consumer feedbacks → Mongoose Metrics KPI • • • • • • • • Bounce Rate Applause Rate Amplification Rate Conversation Rate Loyalty Rate Click Through Rate Cost per Acquisition Traffic Rate • • • • • • • • Conversation Rate Conversion Rate Macro/Micro Conversion Rate Economic Value Days to Conversion Rate Shopping Cart Abandonment Rate Cost per Acquisition Customer Lifetime Value • • • • Macro/Micro Conversion Rate Economic Value Percent New Visits Cost per Acquisition 4.3 BIASES All types of biases sampling bias, questionnaire bias, and interpretation bias are relevant for the data to be collected: • Sampling bias - this is a chance that some categories of the customers could be excluded in order to reflect better results VADIM USSOLTSEV 2020 14 DIGITAL MARKETING CAPSTONE • Questionnaire bias - there a risk that questions to customers (to measure brand awareness) could be created in the way to demonstrate good results • Interpretation bias - there is a chance that negative results of the objectives’ analysis will be interpreted to demonstrate better outcomes In order to mitigate or eliminate abovementioned biases high level quality assurance must be established. Team of the analytics will review the data collected and the subsequent results of the analysis based on the data collected. The final review will be performed by the independent third party with the necessary expertise. Only after proper quality assurance the results will be presented to the client. Business objective Data → Sources Key question Build awareness Do consumers recall and recognize Grainger.com brand? Search volume → Google Trends Influence consideration Do Bosch products presented at Grainger.com satisfy consumers’ needs? Customer inquiries → CSR DB Traffic → Google Analytics Reposition the brand Do the experience delivered at Grainger.com related to Bosch products fulfill customer expectations? Consumer feedbacks → Mongoose Metrics 4.4 DATA ANALYSIS AND BENCHMARKS Business objective Build awareness Influence consideration Reposition the brand Data to collect Search volume → Google Trends, Google Analytics Customer inquiries → CSR DB Traffic → Google Analytics Consumer feedbacks → Mongoose Metrics KPI • • • • • • • • Bounce Rate Applause Rate Amplification Rate Conversation Rate Loyalty Rate Click Through Rate Cost per Acquisition Traffic Rate • • • • • • • • Conversation Rate Conversion Rate Macro/Micro Conversion Rate Economic Value Days to Conversion Rate Shopping Cart Abandonment Rate Cost per Acquisition Customer Lifetime Value • • • • Macro/Micro Conversion Rate Economic Value Percent New Visits Cost per Acquisition The analysis listed and explained below will be employed on the data collected (if any)8: 1/ Descriptive analysis - to quantitatively describe the main features of a collection of data. In essence, it describes a set of data: • Typically, the first kind of data analysis performed on a data set • Commonly applied to large volumes of data • Description and interpretation processes are different steps • Bivariate type of statistical descriptive analyses 8 https://datascientistinsights.com/2013/01/29/six-types-of-analyses-every-data-scientist-should-know/ VADIM USSOLTSEV 2020 15 DIGITAL MARKETING CAPSTONE 2/ Inferential analysis - to test theories about the nature of the world in general (or some part of it) based on samples of “subjects” taken from the world (or some part of it). That is, use a relatively small sample of data to say something about a bigger population: • Inference is commonly the goal of statistical models • Inference involves estimating both the quantity we care about and our uncertainty about our estimate • Inference depends heavily on both the population and the sampling scheme 3/ Exploratory analysis - to analyze data sets to find previously unknown relationships: • Exploratory models are good for discovering new connections • They are also useful for defining future studies / questions • Exploratory analyses are usually not the definitive answer to the question at hand, but only the start • Exploratory analyses alone should not be used for generalizing and/or predicting 4/ Causal analysis - to find out what happens to one variable when you change another: • Implementation usually requires randomized studies • There are approaches to inferring causation in non-randomized studies • Causal models are said to be the “gold standard” for data analysis 5/ Predictive analysis - to analyze current and historical facts to make predictions about future events. In essence, to use the data on some objects to predict values for another object: • Model predicts, but it does not mean that the independent variables cause • Accurate prediction depends heavily on measuring the right variables • Although there are better and worse prediction models, more data and a simple model works really well • Prediction is very hard, especially about the future references Benchmark VADIM USSOLTSEV Target Bounce Rate Decrease by 20% Applause Rate Increase by 15% Amplification Rate Increase by 15% Loyalty Rate Increase by 15% Click Through Rate Increase by 20% Cost per Acquisition Decrease by 10% Traffic Rate Increase by 30% Conversion Rate Increase by 20% Shopping Cart Abandonment Rate Decrease by 15% Macro/Micro Conversion Rate Increase by 17% Percent New Visits Increase by 30% 2020 16 DIGITAL MARKETING CAPSTONE 5. CHANNEL STRATEGY Main Category Sub-Category Description New customers Many new customers visit Grainger.com on a daily basis. Grainger wants to target these new customers and increase the sales of Bosch power tools on Grainger.com Current customers Grainger wants to cross-sell or up-sell different categories of Bosch brand products to customers who have purchased Bosch power tools on Grainger.com Scenario 1 Audiences that visit Boschtools.com, look at a power tool (for example a drill), but do not visit Grainger.com Scenario 2 Audiences that visit Boschtools.com, look at a power tool, and then visit Grainger.com, login to Grainger.com, and visit the power tools category Scenario 3 Audiences that visit Boschtools.com, look at a power tool, and then visit Grainger.com, login to Grainger.com, and visit the plumbing category but not power tools Users landing on Grainger.com directly Users landing on Boschtools.com first Landing Pages: there are two landing pages on Grainger.com: • The Bosch brand filtered search landing page • A specific item landing page Email Database: Grainger will be using its internal email database, which has users who have expressed interest in the power tools category. Your response here should provide a strategy for using display advertising and email. Include tables/ visuals to describe the strategy. 5.1 EMAIL AND DISPLAY CAMPAIGNS 1/ Below is presented the content plan for email and display campaigns 9 focused on Audience Category 1 (all methods include location-based and demographic-based analytics): Category Sub-Category Objective New customers • • • Increase brand awareness Increase conversion Increase sales 10% by Grainger.com Current customers • • • Increase sales 10% by Grainger.com Influence consideration Reposition the brand Objective Display ad (only Grainger.com): Audience 9 New customers • • • • • Use market-driven strategy Increase awareness Increase conversion Display ads via RBT (banners) Overlay banners with the offer to provide email and receive a 10% coupon for Bosch tools purchase • Rich media ad on the landing pages Email: https://support.google.com/google-ads/answer/172627?hl=en VADIM USSOLTSEV 2020 17 DIGITAL MARKETING CAPSTONE • Integrated with the CRM and display ad. Once new customer credentials are registered in the CRM, he/she will start to receive regular emails with the offers, discounts, etc. Display ad (only Grainger.com): • • Current customers Traffic-driven strategy Banners via RBT based on customers’ insight like previous purchases and search results • Overlay banner ad with the upsell and crosssell offers based on customer’s history Email: • • • Tools • • • • Other considerations • • • Integrated with the CRM and display ad. Regular messages with product catalogue that could be interesting to the customer (based on the history), coupons e.g. 15-20%, limited offers only to existing customers CMS Media agencies In-house solutions (UX, design, marketing) Google Display Network Voiceandtone.com Voice and the tone10 - brand’s voice should reflect its personality and identity. It should be consistent across all content. Tone should adapt according to the context of the content SEO Mobile marketing Social marketing 2/ Describe how your email and display campaigns will vary for the different scenarios mentioned in Audience Category 2. Category Objective Sub-Category Objective Scenario 1 • Build brand awareness of the Grainger.com Scenario 2 • Influence consideration to buy at Grainger.com Scenario 3 • Reposition the brand of the Grainger.com • • Banners via RBT Overlay banners with the offer to buy at the Grainger.com and receive a coupon and provide email address Integrated with the CRM and display ad. Once new customer credentials are registered in the CRM, he/she will start to receive regular emails with the offers, discounts, etc. Scenario 1 • Audience • • Scenario 2 • 10 Banners via RBT based on customers’ insight like previous purchases and search results Overlay banner ad with the upsell and crosssell offers based on customer’s history Integrated with the CRM and display ad. Regular messages with product catalogue that could be interesting to the customer (based on https://www.wordstream.com/blog/ws/2012/11/28/content-strategy VADIM USSOLTSEV 2020 18 DIGITAL MARKETING CAPSTONE the history), coupons e.g. 15-20%, limited offers only to existing customers • • Scenario 3 • • Tools • • • Other considerations • • • • Banners via RBT based on customers’ insight like previous purchases and search results Overlay banner ad with the offer to return to power tools section Integrated with the CRM and display ad. Regular messages with product catalogue that could be interesting to the customer (based on the history), coupons e.g. 15-20%, limited offers only to existing customers CMS Media agencies Google Display Network Voiceandtone.com Voice and the tone - brand’s voice should reflect its personality and identity. It should be consistent across all content. Tone should adapt according to the context of the content SEO Mobile marketing Social marketing 5.2 LIST OF RECOMMENDATIONS List of recommendations for the content and tone of the message and visuals to be used for the campaign should include specifics about the content of the message and should refrain from using abstract examples. Instead it should provide details about why Bosch power tools will help you and why it is the first choice for the power tools and email should look for this. Content of email and display campaigns should be aligned with Bosch’s brand essence and its product positioning in the marketplace. It means that content of both email and display campaigns should be very precise, direct, clear and of high quality as the German products are. It should not be funny as Bosch does not deliver fun and delivers quality and precision. It is very important that the substance of the email and display campaigns discloses the advantage of the Bosch power tools over its competitors. Language of the content should be simple and clear. Category Recommendation • Email • • • Display 11 • • Voice and the tone11 - brand’s voice should reflect its personality and identity. It should be consistent across all content. Tone should adapt according to the context of the content Emails should be sent every week including promotional information, updates on the products, just some interesting facts about Bosch power tools, links to social media with customers review of the products or DIY videos on YouTube Display ads via RBT (banners) Overlay banners with the offer to provide email and receive a 10% coupon for Bosch tools purchase Rich media ad on the landing pages Visuals should be friendly and not to technical, e.g. some episodes from the regular life and how Bosch power tools help customers to overcome daily struggles https://www.wordstream.com/blog/ws/2012/11/28/content-strategy VADIM USSOLTSEV 2020 19 DIGITAL MARKETING CAPSTONE 6. TEST AND CONTROL PLAN Market research helps you make informed business decisions. It involves systematically gathering, recording and analyzing data about customers, competitors and the market, and turning this data into insight that can drive marketing strategies, product design and positioning and communications strategies. Online market research is the process of using digital tools, data and connections to get valuable insights about a brand’s target audience. Technology plays a key role in gathering data and connecting with research participants and can make the whole process quicker and easier to manage than traditional offline research methods. Traditional and online market research have the same goals and underlying principles, but online market research has the benefit of using digital technology, which provides a range of benefits: • The Internet is always on, meaning that data is readily available at any time. • Many of the processes for finding, gathering and storing data can be automated. • You have access to a large number of participants around the world at the click of a button. A lot of the information you will use is already being automatically collected such as web analytics and social media data all you need to do is access it. Market research cycle12: Main Category Sub-Category Description Research details New customers Many new customers visit Grainger.com on a daily basis. Grainger wants to target these new customers and increase the sales of Bosch power tools on Grainger.com Current customers Grainger wants to cross-sell or upsell different categories of Bosch brand products to customers who have purchased Bosch power tools on Grainger.com Objectives: 1/ To gain insights into your consumers: - What customers want and need from the brand - What customers like and dislike about the brand - Why potential customers might choose our brand over another Users landing on Grainger.com directly 12 https://www.redandyellow.co.za/content/uploads/2017/11/eMarketing-Chapter-4-Market-Research.pdf VADIM USSOLTSEV 2020 20 DIGITAL MARKETING CAPSTONE Users landing on Boschtools.com first Scenario 1 Audiences that visit Boschtools.com, look at a power tool (for example a drill), but do not visit Grainger.com Scenario 2 Audiences that visit Boschtools.com, look at a power tool, and then visit Grainger.com, login to Grainger.com, and visit the power tools category Scenario 3 Audiences that visit Boschtools.com, look at a power tool, and then visit Grainger.com, login to Grainger.com, and visit the plumbing category but not power tools 2/ Find new potential sales avenues, customers, products and more 3/ Find and engage new audiences Strategies to be used: 1/ Primary research 2/ Secondary research 3/ Quantitative 4/ Qualitative Below table explains the tools to be used within each of the market strategies: Research type Source Primary • • Google Trends Google Analytics Secondary • • • • Customer communications Google.com / Yahoo.com / Bing.com Nielsen.com Pewresearch.org • Online surveys: - Google.Forms - Survey Monkey - Microsoft Forms Online focus groups - Google Hangouts - Skype - Microsoft Teams - Zoom Online monitoring Online ethnography • Qualitative • • Research based on secondary data should precede primary data research. It can be used in establishing the context and parameters for primary research. Examples of the secondary research13: 13 https://trends.google.com/trends/?geo=US VADIM USSOLTSEV 2020 21 DIGITAL MARKETING CAPSTONE With all research there is a given amount of error to deal with. Bias may arise during surveys and focus groups, for example, interviewers leading the respondents. Or bias may be present in the design and wording of the questions themselves. There could be sample errors or respondent errors. Using the Internet to administer surveys removes the bias that may arise from an interviewer. However, with no interviewer to explain questions, there is potential for greater respondent error. This is why survey design is so important, and why it is crucial to test and run pilots of surveys before going live. Respondent errors also arise when respondents become too familiar with the survey process. The general industry standard is to limit respondents to being interviewed once every six months. Sample error is a fact of market research. Some people are just not interested, nor will they ever be interested, in taking part in research. Are these people fundamentally different from those who do? Is there a way of finding out? To some extent, web analytics, which track the behavior of all visitors to your website, can be useful in determining this. When conducting online research, it is crucial to understand who is in the target market, and what the best way to reach that target market is. Web surveys can exclude groups of people due to access or ability. It is vital to determine if is this is acceptable to the survey, and to use other means of capturing data if not. VADIM USSOLTSEV 2020 22 DIGITAL MARKETING CAPSTONE Below is the example of the online survey14: 14 https://www.surveyexpression.com/Survey.aspx?id=ad3eb730-1d74-4e78-8d12-a3b7d52bfabf VADIM USSOLTSEV 2020 23 DIGITAL MARKETING CAPSTONE 7. WORD COUNT 4,956 8. CITATIONS https://s23.q4cdn.com/963347031/files/doc_downloads/factsheet/2019_Snapshot.pdf https://invest.grainger.com/home/default.aspx https://www.marketresearchfuture.com/reports/power-tools-market-3571 https://craft.co/ww-grainger/competitors https://assets.bosch.com/media/global/bosch_group/our_figures/pdf/bosch-today-2019.pdf http://fernfortuniversity.com/term-papers/swot/1433/1056-bosch.php https://www.similarweb.com/website/boschtools.com https://www.coursera.org/learn/digital-analytics/lecture/487oL/lesson-2-preparing-for-the-analysis-journeypart-1 https://www.coursera.org/learn/digital-analytics/lecture/xOQUP/lesson-2-preparing-for-the-analysis-journeypart-2 https://www.coursera.org/learn/digital-analytics/lecture/487oL/lesson-2-preparing-for-the-analysis-journeypart-1 https://www.coursera.org/learn/digital-analytics/lecture/xOQUP/lesson-2-preparing-for-the-analysis-journeypart-2 http://www.instantshift.com/2015/05/26/ecommerce-metrics-and-kpis/ https://www.kaushik.net/avinash/best-social-media-metrics-conversation-amplification-applause-economicvalue/ https://bits.blogs.nytimes.com/2013/06/19/new-ways-marketers-are-manipulating-data-to-influence-you/ https://www.kaushik.net/avinash/data-quality-sucks-lets-just-get-over-it/ https://www.kaushik.net/avinash/best-web-analytics-tools-quantitative-qualitative/ https://www.coursera.org/learn/digital-analytics/lecture/epriY/lesson-5-data-management-in-practice-part-1 https://www.coursera.org/learn/digital-analytics/lecture/cfZvM/lesson-5-data-management-in-practice-part-2 https://www.coursera.org/learn/digital-analytics/lecture/McxGn/lesson-3-data-collection-part-i-unstructureddata https://www.coursera.org/learn/digital-analytics/lecture/anrjJ/lesson-4-data-collection-part-ii-structured-data https://datascientistinsights.com/2013/01/29/six-types-of-analyses-every-data-scientist-should-know/ https://www.kaushik.net/avinash/best-social-media-metrics-conversation-amplification-applause-economicvalue/ https://www.coursera.org/learn/digital-analytics/lecture/anrjJ/lesson-4-data-collection-part-ii-structured-data https://support.google.com/google-ads/answer/172627?hl=en https://www.wordstream.com/blog/ws/2012/11/28/content-strategy https://www.redandyellow.co.za/content/uploads/2017/11/eMarketing-Chapter-4-Market-Research.pdf https://trends.google.com/trends/?geo=US https://www.surveyexpression.com/Survey.aspx?id=ad3eb730-1d74-4e78-8d12-a3b7d52bfabf VADIM USSOLTSEV 2020
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CAPSTONE PROJECT
Related Papers
Marketing Theory
Laurent Muzellec
Phillip Nkete
IAEME Publication
Brands are perceived as valuable assets from both consumer and company perspectives. Business leaders are fully aware of the importance of brand, branding and brand management for their survival and maintaining sustainable development in competitive and globalized world. The importance of brand, branding and brand management is not only felt and experienced by corporate but even the countries, individuals and political parties are not untouched with this. This paper provides a synthesis of the fragmented literature on brand management that is organized under seven heads: different definitions on brand, layers of brand, importance of brand management, brand concept management, brand management models, current trends in brand management and conclusions. The ultimate section of the work that is future scope will open the path for future research in the area of brand, branding or brand management
JASH MATHEW
The purpose of this study is to investigate the impact of corporate branding on brand loyalty with the mediating effect of emotional attachment in the luxury fashion market. Cross-sectional data were collected from 132 customers who purchased luxury brands. Regression was used to test the hypotheses of the framework developed for the study and correlation matrix used to see the relationship among the variables. Finding shows that functional and symbolic benefits have significant impact on brand loyalty, whereas other variables are found not to be significant. This study offers new empirical support for the proposition that corporate branding efforts have a role, thought limited, in building customer emotional attachment and loyalty towards luxury brands. As such, findings from this study can provide managers with a guide to managing their branding strategies so that customer emotional attachment and brand loyalty can be built in the most cost-effective manner.
RANJITHA G P
Purpose – The purposes of the paper are, First, based on the extant categorization of brand conceptualizations the paper classifies the brand concepts under firm perspective, consumer perspective and adds a new perspective 'stakeholder perspective'. Second, the paper reviews and synthesizes the empirical research in branding in the period from 2006 to 2014, identifies the emerging research areas in branding, synthesizes the research findings, as well as future research directions.
Open Access Publishing Group
Brands are always considered as one of the most valuable assets of an organization. Making strong brands and essentiality of strong presence in mind are the proprieties of most organizations. Because in general believes, the strong brands can increase the competitive advantage. The brand personality and brand equity are variables that can be effective on customers and also affect their shopping behavior; therefore, the purpose of this study is to survey the mediating role of brand equity in the relationship between the brand personality and obsessive shopping behavior of sport clothes consumers. The statistic society of this research is constituted the sport clothes buyers of Tehran that 246 persons were chosen as the sample using Cochran's unknown sample size formula. For data collection, Aaker brand equity questionnaires (1996), brand personality questionnaire of Jones et al (2009) and obsessive shopping behavior questionnaire of Edwards (1993) were used. The results of study showed that there is a meaningful relationship between the brand personality and its components with brand equity and obsessive shopping behavior of sport clothes costumers. Also, the results of model showed that brand personality both directly and through the brand equity is effective on costumers' obsessive shopping behavior. According to these results, it can be suggested that for affecting the costumers' obsessive shopping behavior, the brand personality and brand equity should be reinforced for customers. JEL: L67, L83, Z20, Z29
TJPRC Publication
Branding is not a modern concept, but it existed prior to the 20th century. The oldest generic brand in continuous use in India since the Vedic period is Chyawanprash. The importance of branding cannot be neglected in today's competitive world. Brand Identity, brand image and brand equity are important aspects of branding. The outward expression of the brand, including its name, logo, tone, tagline, symbols and visual appearance is a brand's identity. It should be meaningful, distinct and flexible. A brand image is how the consumers perceive the brand. The brand image is not created, but is automatically formed. A strong brand image is a powerful asset and makes people confident that the organization is dependable. Brand equity is the value that the customer attaches to a particular brand. Brand equity can provide a platform for growth by brand extensions. The paper attempts to explain the above mentioned concepts of branding
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Home > Student Research > IPS/BAS Projects
IPS/BAS 495 Undergraduate Capstone Projects
The IPS/BAS 495 Course centers around a Capstone Project which is the final course taken by students within the Bachelor of Arts in Interdisciplinary Professional Studies (IPS) and the Bachelor of Applied Science Programs. The capstone projects are a final requirement for graduation.
The Bachelor of Arts in Interdisciplinary Professional Studies (IPS) helps students take creative ownership of their education by combining their ideas and experiences with new, interdisciplinary learning opportunities to better understand context and discover new connections; to create mindful, collaborative, and productive relationships; and to become reflective and adaptive learners.
The Bachelor of Applied Science (BAS) is an interdisciplinary degree that capitalizes on, and complements, a technical associate degree (AAS). The BAS Degree builds on students' technical expertise.
Submissions from 2022 2022
Digital Transformation and Higher Education , Teresa M. Amos
Creating Smiles and Cards for Meals on Wheels , Rhonda L. Carson
Creating a Cyber Security Program , Colby Dillon
LatinX Community Language Barriers: Local Food Sustainability and Food Insecurity , JoAn C. Echols
Diversity and Engagement in Supplemental Elementary Art Education , Maggie Espinoza Sennesael
Carrot Sticks: Addressing Food Waste , Alex Frank
Data Catalog Systems Question Generator and Evaluation for Healthwise , John Fuhrman
Capturing Company History and Digitally Preserving , Aaron Glade
Recruited From Humble Beginnings to Recruiting the Humble , Noe Gonzalez
BAS/IPS Student Advisory Committee Internship Course , Serena C. Henry
Professional as a Mother: Empowering Working Mothers Through Social Media , Trinity Marie Hernandez-Lopez
Differences Aside , Dzanela Husic
Society for Ideas: What Makes a Great Online Community? , Jessica Johannesen
Conflict, Technology, and Integrative Thinking: The Past and Future of Geopolitical Conflict , Paul L. Johnson
Smart Card Revamping , Jana M. Lawler
Hats for Hope , Jordan Loya
Protect the Pollinators , Alisha Lund
Building the Bridge to Healing and Learning Website Leading to Creating a Therapeutic School Experience for Students with Adverse Childhood Experiences, Developmental Trauma, and Mental Illness , Linda Miller
Improving Access to Community Health Resources , Raheem D. Mohamed
Military Team Building Retreat , Pablo Moreno
Implementation of Peer Mentoring in Grief Recovery Group , Carol L. Nickel
The Power of Positivity , Jennifer A. Oliver
Writing A Children’s Book Series About Software Development , Michelle M. Petit
Transitioning to Civilian Life , Walter A. Pineda
Dealing with Conflict within the Workplace , Sienna Quinlivan
Creating a Better Place: Furry Friends Edition , Kaitlyn Ramirez
Glenns Ferry Animal Shelter , Reyna Riemenapp
A Paramedic’s Field Guide to Community Hospice , Destiny D. Rogers
Wellness and Stress Management for Service Industry Employees , Jadrael J. Schmidt
Community Pet Food Drive and Pet Food Pantry , Katie M. Sipe
Remodeling to Process Emotions Through Teamwork , Heidi E. Sistad
A Guide to How to Start a Keto Diet , Julia A. Smith
Connecting Homeschool Families with Information and Resources , Sara M. Szczesiul
How Can We Help Physical Child Abuse , Yosepp M. Terry
MVMX Bleacher Restoration , Cameron Williams
Helping Animals Find Their Forever Homes , Madison P. Wilmot
How to Train Employee Effectively , Jenny Z. Wu
Veterans. They Serve, They Get Out, Now What? , Bre Adams
Capstone: BAS/IPS Student Support Site , Jessi Boyer
Social Media an Effective Tool for Marketing , Ronee Chandler
Keeping Our Babies Fed , Nicole Collins
Something Has to Change , Alex Dodge
Rock Creek Research Project , Michael Easterling
Gardening for the Future , Abby M. Edgar
How the Covid-19 Pandemic Has Affected the Mental Health of Healthcare Workers , Jessica M. Farner
How to Motivate an Underperforming Employee , Douglas Fellows
Time Management Skills and How They Benefit Your Mental Health , Berkley E. Fredrick
Emotional Intelligence: Benefits within the Classroom , Taylor M. Garber
Ways to Help Lessen the Pressure on Athletes to Help Their Mental Health , Alex Griffiths
Water, Sunshine and Safety: Community Service at Its Best , Kimberly A. Hammond
Raising Awareness for Domestic Abuse Victims , Bree Hayes
The Yeti Tumbler Alliance , Emily Huber
Public Agencies and Texting , Jennifer McAninch
Promoting the Benefits of Intergenerational Teams , Sabrynna M. McGuire
School Safety for Security Teams , Richard G. Nottingham
Finding a Better Workplace Culture , Kimberly Parr
The Graduate’s Dilemma: Transitioning from Academic Life into the Professional World , Colton L. Robinson
The Power of 20-Minute Naps to Zen Time , Lee Rockwell
Electrical Safety Program LOTO Procedures , Justin D. Rose
The Leadership Tree: Growing Leadership Through Quality Conversations , Jayke Sterling
Is Religion Dividing America Beyond Repair? , Alec Wheeler
Caring for Aging Pets , Melissa Belz
Improving Employee Performance and Job Satisfaction Using Comprehensive Job Descriptions and Performance Evaluations , Jeffrey A. Bishop
Color Blind Awareness , Quinson Blas
The Benefits of a Professional Website for a Musician , April C. Cain
Fundraising for Idaho Foster Kids , Jodi M. Campbell
Modus Operandi , Sommer Cartwright
The Environmental Stewardship Program: Contemplative Practice and Its Application to Outdoor Education , David N. Crowson
Service-Learning: A Homeless Outreach Initiative , Eduardo A. De La Torre
Life Skills and Economics: Mrs. Shelley's Special Education Jr. High Student Experience , Shelley Douglas
Trauma Informed Organizational Training , Rachael Getecha
4H Small Animal Brochure Capstone Project , Chiara Green
Life AD (After Diploma): A Capstone Project , Danni P. Harrison
Brain Trauma , Chase Hatada
Food Bank Project , Laura Hernandez
Striving Towards Efficient Curriculum Implementation , Melissa J. Hernandez
The Diamond Sun Recycling Project , Jason T. Howell
Encouraging Healthier Habits in Children , Krysta Hughes
Reinventing Training at Lamb Weston , Clint G. Irvin
Peer Support in Online Programs , Mary P. James
Back to Acting , Alex Jean
Eating Through Trauma , Thea R. Jordan
Mental Health Stigma , Myna H. Krueck
How is Your Mental Health at Walgreens , Kelly Kukla
Solving Inefficiencies in Technology in Healthcare , John Lynch
Ride the Wave (The Wave of Recovery): Leisure Time Activities , Donald R. Martin Sr.
Efficiency & Productivity in the Workplace , Kyle Mattson
Food Knowledge , Sarah McCann
Physical Therapist Assistant Training: Documentation Guidelines , Megan A. McChristy
How to Improve an Existing Training Program , Joseph Morgan
Pet Day Petcare , William Murphy
The Importance of a Beach Clean-Up , Sofie Nickell
Connecting Members of the Treasure Valley Down Syndrome Association with Each Other , Kristie Oakes
Boise iNtuitives , Casper Oberleitner
Bella's Diabetic Journal: Understanding Pets with Diabetes , Bryna K. Owings
Parkers Plates: My Food Blog Journey , Courtney A. Parker
Gardening Blog , Ashley Pierce
The Science of Sales Prospecting , Jacob J. Pinkney
Technology in the High School Classroom , Jim Rife
Action: ASAP, Inc., Employee Handbook , Timothy J. Riley
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5 Online Presence Bosch power. Digital Marketing Capstone Anubhav Dogra Page | 17 2022 2. Problem Statement To design a. Digital Marketing
Download to read offline. Marketing. Capstone project for completion of course on Coursera. The project is for Digital Marketing
Capstone Committee: Art Challis, Ed.D., Chair. Ellen Treanor, M.A.. Matthew H. Barton, Ph.D. Page 2
In this capstone project of the Digital Marketing Specialization course we are called to develop a channel strategy to increase sales of Bosch power tools
This is to certify that the project entitled “To Study Accounts Receivable Management System of Manufacturing Company In Pune ” Submitted to Bharati
DMKT2410 - Digital Marketing Capstone. PDF Download. Credits. 3 (3/0/0). Description. This course is designed to provide students an opportunity to
The client wants the campaigns to focus on display advertising and email for this project. Page 12. VADIM USSOLTSEV. 11 DIGITAL MARKETING CAPSTONE. 2020.
Marketing Theory. Corporate branding and brand architecture: a conceptual framework. 2009 •. Laurent Muzellec. Download Free PDF
The BAS Degree builds on students' technical expertise. Follow. index. Submissions from 2022 2022. PDF · Digital Transformation and Higher Education, Teresa M.
Course Overview: Ben Bentzin, Marketing Capstone, MKT 370 Sec. ... company focusing on digital technologies for schools and universities