Replicating Offline Strategies Online?
Another nagging question I’ve had was whether or not replicating offline strategies online is really the way to succeed. Marketing 101 would teach us that have a singular consistent strategy is preferable since you want to present a singular product to your consumer. But given how different offline and online consumers are, both in terms of how they digest information and how they make decisions, could a different online strategy yield better results?
Let’s use the case on Big Skinny as an example. This thin wallet company primarily focuses on the “impulse shopper”, who is wowed by a salesperson at a street fair. Even though this strategy has proven ...view middle of the document...
Wallets: Wallets are generally preferred with lightweight and that can easily carry stuff like credit cards, cash and receipts along with other stuff. Thin wallets are considered better because it will always keep you safe from back pain and sciatica. Wallets are often in need of replacement and people buy them as impulse purchase or as gifts since it is not a costly item and also does not require much information processing.
Big Skinny has just launched world’s thinnest wallet and got good response from the market during various trade fairs it participate in. The challenge is how to use online medium to build further sales and formulate an strategy for online retail and marketing.
The key features of this wallet are:-
1. Size - Reduce Wallet size by 50 to 75%
2. Weight - Will weigh under an ounce.
3. Card Pocket size - Will feature extra wide pocket
4. Slipperiness of the interior - they are lined with rubber coating which
5. Lack of versatility - They are water resistant and tough enough
even for machine wash.
What issues to be addressed by Big Skinny for online retail and marketing strategy?
Wallet is not a kind of product that people have in mind while they go for shopping. It is impulse purchase. People see the product in physical, feel it, like it and make a purchase. For online purchase, people would have to search for wallet and it should be the product in their mind which is not a impulse buying.
* How to bring people to the Big Skinny website while they are surfing the net for other purposes?
* How to convert people to customers when they visit Big Skinny website?
* What method of inviting customer should be adopted? Algorithmic search, Sponsored search, Social Media, Interactive Content, Online Distributors, A/B testing or other options?
* How to advertise the core features of Big Skills through different online mediums to achieve better sales results.
Brief on various available methods
1. Display Adds: Display adds on various web pages over the internet is very important medium of advertising. But it is very important to identify the websites that you would like to put your advertisement on. The chosen web pages should be such which are frequently viewed else the advertising purpose is defeated.
2. Algorithmic search: Algorithmic search means most accurate result to the users
query. Ranking high in a search will allow a site to reach consumers whose search was related to the site’s product. The output of the algorithmic search would entirely depend upon the keywords chosen to be enlisted to the search engines. It is quite technical stuff and takes time.
3. Sponsored search: In Sponsored search advertising, advertisers are allowed to key in search words in sections embarked for sponsored search. The main difference for the algorithmic search and sponsored search is those sponsored searches is more focused and give better results. Generally algorithmic...