Digital Strategy 1 .pdf

DIGITAL STRATEGY Session 1 Me = Dushinka Karani Chief Marketing Officer FundingBox (Leaders in Distribution of Funds for Startups & SMEs) IE Professor & Coordinator Uni Marketing Fundamentals Marketing Management Digital Marketing Integrated Mkt. Communications Marketing in the Fashion & Luxury I...

DIGITAL STRATEGY Session 1 Me = Dushinka Karani Chief Marketing Officer FundingBox (Leaders in Distribution of Funds for Startups & SMEs) IE Professor & Coordinator Uni Marketing Fundamentals Marketing Management Digital Marketing Integrated Mkt. Communications Marketing in the Fashion & Luxury Industry Digital Strategy Pasión Digital Me Marketing Teaching in Law Degree & Marketing Master in Marketing Marketing Passion for Marketing, Passion for Marketing Innovation & Sales & Retail Email: [email protected] https://www.linkedin.com/in/dushinka-karani/ LLB City University. London MBA at Esic, Madrid Facebook Academy: Paid Media IE: Digital Marketing, Social Media and Analytics: An Omnichannel Strategy Program Product Manager: Unilever (FMCG) Emmanuel Ungaro (Fashion) Compass (Food) Passion for NEED TO MAKE AN IMPACT Chief Marketing Officer Mantequerias Arias (FMCG) Calidad Pascual (FMCG) 48 years old Only girl, 2 brothers Indian Origin, Russian name Brought up in UK and Spain Brand Manager: The Body Shop (Retail/ Beauty) Grupo Moliner (Retail/ Mobile) @mycooperandco 10 SESSIONS: DIGITAL STRATEGY “THE SYLLABUS“ SESSION 1 Intro to the Course + grading structure Intro to Digital Transformation Business models adapted to the Digital Sphere SESSION 2 Digital Marketing Comms Overview Legal Implications The impact of DATA on decission making (CRM, campaigns, etc…) SESSION 3 How to efficiently draft a Buyer Persona? The Customer Journey Intermediate Test 1 SESSION 4 Customer Experience: Acquisition Techniques Owned, Paid, Earned Media: Mkt. 360, Search Mkt., Inbound, Leads Generation, Mobile Mkt., Online Advertising, Growth-hacking, Social Media and Analytics SESSION 5 SESSION 7 Customer Experience: Conversion Techniques Ecommerce User Experience (UX) vs. User Interface Design (UI) - The importance of User Experience (UX) vs. User Interface Design (UI) in your ecosystem Examples of Do’s and Don'ts Group Project Presentation Customer Experience: Acquisition Techniques SESSION 8 Owned, Paid, Earned Media: Mkt. 360, Search Mkt., Inbound, Leads Generation, Mobile Mkt., Online Advertising, Growth-hacking, Social Media and Analytics Customer Experience: Loyalty and Advocacy + Intermediate Test 2 Retention techniques Intermediate Test 2 SESSION 6 Customer Experience: Consideration Techniques Content Strategy - how to adapt it in each phase The importance of "Personalization" SESSION 10 SESSION 9 Decision Making Innovation Methodologies: Introduction to Design Thinking, Lean, Agile methodologies EVALUATION CRITERIA GRADE Intermediate Tests 20% Group Work 45% Peer Evaluation 15% Class Participation 20% 2 Tests, Session 3 & 8 INTERMEDIATE TESTS (20%) INTERMEDIATE TEST Nº OF INTERMEDIATE TESTS: 2 WHEN: SESSION 3 & 8 TYPE OF TEST: MULTIPLE CHOICE (10) TOOL: BLACKBOARD TIME: 10 MINUTES - Note that if a student is absent from a Test, the grade will be zero for it, and it will lower the grade of average accordingly. - Exemptions to this: If the student informs the professor in advance, before the day of the test and has proven documentation that he/she can not carry it out by informing also the MSMC Office. - The professor reserves the right to introduce more Intermediate Tests if he/she determines the class needs them. -Special Accommodation Students: The student must inform their program director if they want to use a classroom to book it at least one week before exams. Do you have Respondus on you laptop? let’s do a Mock-up quick test TO DOWNLOAD RESPONDUS ON YOUR LAPTOP! GROUP WORK (45%) GROUP WORK WHAT TO DELIVER? A presentation Specific set of tasks which will be laid out in the Assignment uploaded on Blackboard in order to carry out the work. You must upload the presentation of your work on session 10 Additionally, each group will present their work in class to all students and professors. Each member of the group presents - 10 mins max. per group. SPECIFICS OF GROUP WORK You are to form groups of 8 members max - we will use the groups formed already by the MSMC office You are to choose a brand of your choice and stick to the same brand during the whole course. It is recommended to choose a brand relatively young (not more than 5-7 years old) You are to work on the tasks in your own time, in groups - all members should add value to the Group Work. You must design tasks for each one of you and all consolidate your work. GROUP WORK (45%) GROUP WORK ASSIGNMENT GROUP WORK (45%) GROUPS: PEER EVALUATION (15%) WHAT TO DELIVER? A Feedback Fruits Evaluation wil be uploaded on Blackboard. The purpose is that you grade, anonymously the peers in your group and grade those who deliver value as well as avoid free riders who have not delivered any value. You will receive your grade and comments from peers and you will have to submit your own selfreflection. WHAT IS CLASS PARTICIPATION? (20%) Attendance: Participating 20%: Depth and Quality of Contribution: The quality of As per the IE University policy, bachelor and master degree students must attend at least 80% of sessions. your comment in terms of depth of insight, rigorous use of case evidence, consistency of argument, and realism will be highly appreciated. Moving Your Peers’ Understanding Forward: Along Under exceptional circumstances (such as serious health problems, visa delays, and travel restrictions), a student could ask for a temporary attendance waiver. A written and documented request must be made in advance to the Program Management Team to be excused. with the content, the way of conveying your ideas will also be considered. Your way of presentation should be concise and clear, accompanied by a spirit of Personal trips, appointments, minor illnesses, family celebrations, or other personal matters will not be treated as an exceptional case and should be considered part of the 20% of allowed absences. much as you can, but this does not mean you should Although students without attendance waiver can attend the session remotely online, they will be considered as absent. professor proposals other examples on the matters we Attendance will be taken with Qwickly - see next slide involvement in the discussion at hand. You will have multiple chances to present, therefore your improvement along the way will be noted. Frequency: It is encouraged that you participate as speak for the sake of reaching some critical number. Beyond certain threshold, the quality of your comment is more important. Email: active participation whereby students send the talk in class, articles of interest, is largely taken into account AI IN THIS COURSE PROS Idea generation and refinement: Utilize AI to brainstorm and fine-tune ideas, and even draft an outline to bring clarity to your thoughts. Writing quality assessment: Leverage AI to assess the quality of your written work, including grammar, rigor, style, and expression. Simplified explanations: Generate simplified explanations of complex topics using AI, which can serve to support your comprehension of challenging concepts. Personalized tutoring: Identify your learning needs, your weak points, and leverage AI to acquire the knowledge you need to ace your next assignment. Critical review of texts and images generated by AI tools: exercise critical thinking before using AI generated content: assess the quality of the materials, identify potential biases, verifying veracity of the information. LIMITATIONS Improve prompt quality: The output quality of AI tools is directly linked to the quality of your input prompts. To achieve desirable outcomes, dedicate effort to refine and optimize your prompts. This requires diligent work on your part. Fact-checking AI outputs: It is crucial to fact-check all AI-generated outputs. AI tools can occasionally provide incorrect or false information, including references that do not exist in academic literature or code that is unsecure. Unless claims are cross verified with reliable sources, assume they are inaccurate. Remember, you are accountable for any errors or omissions. It is advisable to rely on AI tools for topics you already understand. Recognize potential bias: AI tools are susceptible to perpetuating existing biases present in the data they are trained on, whether inadvertently or intentionally. Be aware of this vulnerability and exercise caution when relying on AI-generated content. Critical analysis is essential to identify and address potential biases. Exercise judgment in tool usage: Use your best judgment to determine when and where to leverage AI tools. It is important to note that these tools may not always make assignments easier or improve their quality. Overreliance on AI can hinder independent thinking and creativity. Find a balance that allows you to utilize AI tools effectively while preserving your own intellectual growth IE REGULATIONS ON THE USE OF AI TOOLS Acknowledge AI as a tool: Recognize that AI is a tool, even if used solely for idea generation rather than producing usable text or illustrations. Submitting work created by someone or something else as if it were your own is considered plagiarism and cheating. Failure to acknowledge AI usage violates academic honesty policies. Full disclosure for generation of text, code, images, video, design: Identify the specific AI-powered platform or tool used, such as ChatGPT, Bard, Midjourney, DALL-E, or Stable Diffusion, etc. Provide the input parameters, prompts, or preferences used in the platform, including relevant sections of the entire exchange. Explain how AI tools were used (e.g., generating ideas, turns of phrase, text elements, arguments, evidence, conceptual maps, illustrations, etc.). Describe why AI tools were used (e.g., saving time, overcoming writer's block, stimulating thinking, improving clarity, translating text, etc.). Provide a flowchart with a chain of commands and prompts to evaluate your technical skill in creating assets with AI, if you have used AI extensively to create code, images, videos, or project components. Clearly state that the image(s) or video(s) were generated using AI with the referenced platform. Spell-checking or refining the style and quality of text is acceptable as long as the input was generated by you. DIGITAL STRATEGY Two intangible words "Digital": "Strategy": The use of technology to provide experiences that enable people to do things better, more enjoyably and more efficiently The identification of a particular challenge or opportunity, a reason for tackling it, and a coordinated high-level plan for how to do so DIGITAL TRANSFORMATION Strategy Digital Talent Customer journeys, processes, or functions Talent Business Model Distributed Technology: APIs, Cloud, Generative AI Technology Data People, Culture, Collaborative Models Operating Business Models Mindset Data Arquitecture & Decision Making DIGITAL TRANSFORMATION EXAMPLES OF INDUSTRIES Netflix CEO Reed Hastings approached Blockbuster with an offer. Initially, Blockbuster was a video rental service, but by 2007, technology was advancing, and people were becoming more comfortable using it. As a result of their online viewing system, Netflix was able to address the concerns customers had with Blockbuster, such as late fees, and they were successfully able to deliver new value to their customers through a Digital Transformation, as well as change their buying habits and the way they watch movies in general DIGITAL TRANSFORMATION EXAMPLES OF INDUSTRIES Gone are the days of mundane booking processes. Airbnb’s sleek digital interfaces take you on a journey from dreaming to experiencing. The platform thrives on transparency, fueled by user reviews that breathe life into each stay. The onceanonymous hosts now become your virtual tour guides, offering insider tips and creating bonds that stretch beyond geographical boundaries. Security is paramount in this new era of travel, and Airbnb’s secure payment systems provide both hosts and guests peace of mind DIGITAL TRANSFORMATION EXAMPLES OF INDUSTRIES DIGITAL TRANSFORMATION EXAMPLES OF INDUSTRIES WHAT OTHER EXAMPLES COME TO YOUR MIND? FROM THE BUSINESS STRATEGY TO THE MARKETING DIGITAL STRATEGY MARKETING DIGITAL STRATEGY DIGITAL STRATEGY 1 BUSINESS STRATEGY 2 3 MARKETING STRATEGY 4 Business Strategy: Mission, vision, values, objectives, competitive advantage, P&L Business Strategy: Mission, vision, values, objectives, competitive advantage, P&L Digital Strategy: how can the business benefit from digital technologies: 1) Migrate Your Product Mix toward Digital Products 2) Migrate your Distribution to Digital Self-Serve 3) Digitize an Internal Operation 4) Digital Native 1) Migrate your Product Mix towards Digital Products: From: Manufacture a physical artifact and get it to you To: Digital/self-serve business that supports its core business. $64 billion at last estimate Business Strategy: Mission, vision, values, objectives, competitive advantage, P&L Digital Strategy: how can the business benefit from digital technologies: 1) Migrate Your Product Mix toward Digital Products 2) Migrate your Distribution to Digital Self-Serve 3) Digitize an Internal Operation 4) Digital Native 1) Migrate your Product Mix towards Digital Products: From: Physical Products to be delivered To: AWS: the company’s highly-profitable AWS business, generating nearly 60% of the company’s operating income Business Strategy: Mission, vision, values, objectives, company strategy, main tactics Digital Strategy: how can the business benefit from digital technologies: 1) Migrate Your Product Mix toward Digital Products 2) Migrate your Distribution to Digital Self-Serve 3) Digitize an Internal Operation 4) Digital Native 2) Migrate your Distribution to Digital Self-Serve From: Ordering at a restaurant To: Ordering kiosks or the self-serve websites Business Strategy: Mission, vision, values, objectives, company strategy, main tactics Digital Strategy: how can the business benefit from digital technologies: 1) Migrate Your Product Mix toward Digital Products 2) Migrate your Distribution to Digital Self-Serve 3) Digitize an Internal Operation 4) Digital Native 2) Migrate your Distribution to Digital Self-Serve From: Buying at a store To: Self Checkout Business Strategy: Mission, vision, values, objectives, company strategy, main tactics Digital Strategy: how can the business benefit from digital technologies: 1) Migrate Your Product Mix toward Digital Products 2) Migrate your Distribution to Digital Self-Serve 3) Digitize an Internal Operation 4) Digital Native 3) Digitize an Internal Operation From: Holding meetings in a room To: Holding meetings in the Metaverse: +30% employee productivity Business Strategy: Mission, vision, values, objectives, company strategy, main tactics Digital Strategy: how can the business benefit from digital technologies: 1) Migrate Your Product Mix toward Digital Products 2) Migrate your Distribution to Digital Self-Serve 3) Digitize an Internal Operation 4) Digital Native 4) Digital Natives Business Strategy: Mission, vision, values, objectives, company strategy, main tactics Digital Strategy: how can the business benefit from digital technologies: 1) Migrate Your Product Mix toward Digital Products 2) Migrate your Distribution to Digital Self-Serve 3) Digitize an Internal Operation 4) Digital Native 4) Digital Natives/ Free of Charge 1. Users can use your services for free in exchange for advertising 2. Data Driven companies: collects large amount of user information 3. Advertisers can launch highly targeted campaigns. 4. Revenue model: pay-per-click advertising Other models of monetization: Fremium: free to download, pay for some content (ex.: AI tools) Paid: Pay for download (ex.: training apps) Paymium: Pay for download and pay for content (ex.: games) Business Strategy: Mission, vision, values, objectives, company strategy, main tactics Digital Strategy: how can the business benefit from digital technologies: 1) Migrate Your Product Mix toward Digital Products 2) Migrate your Distribution to Digital Self-Serve 3) Digitize an Internal Operation 4) Digital Native 4) Digital Natives/ Subscriptions 1. Model based on new & constant content being updated 2. Customers pay for access to a product or service with a fixed and previously agreed periodicity 3. Data-Driven & Research Companies: depending on views, new content is created and proposed 4. Revenue model: Periodic charge to the user for the enjoyment of the service Business Strategy: Mission, vision, values, objectives, company strategy, main tactics Digital Strategy: how can the business benefit from digital technologies: 1) Migrate Your Product Mix toward Digital Products 2) Migrate your Distribution to Digital Self-Serve 3) Digitize an Internal Operation 4) Digital Native 4) Digital Natives/ Marketplaces 1. Model based on the connection of buyers and sellers through platform that holds large audiences. 2. Marketplace gets commissions from transactions and advertising space 3. They do not need warehouses, since the products are owned by the sellers themselves. 4. Secure platforms. 5. Revenue model: Commission for the transaction or, sometimes, commercialization of advertising space Business Strategy: Mission, vision, values, objectives, company strategy, main tactics Digital Strategy: how can the business benefit from digital technologies: 1) Migrate Your Product Mix toward Digital Products 2) Migrate your Distribution to Digital Self-Serve 3) Digitize an Internal Operation 4) Digital Native 4) Digital Natives/ Peer-To Peer 1. Provider and Users are connected (supply-demand) through online platforms through which agreements are established between equal parties (individuals). 2. Payment is made through the platform. 3. They offer guarantees to avoid disintermediation. 4. It is based on the collaborative economy. 5. Revenue model: Commission for services performed Business Strategy: Mission, vision, values, objectives, company strategy, main tactics Digital Strategy: how can the business benefit from digital technologies: 1) Migrate Your Product Mix toward Digital Products 2) Migrate your Distribution to Digital Self-Serve 3) Digitize an Internal Operation 4) Digital Native Etc.. Earned Media Paid Media Owned Media Media Lead Nurturing Lead Magnets Segmentation DDBB ARPU Content App UX, UI, CRO SEO Content Web ASO Tech Ecosystem Initiatives MARKETING DIGITAL STRATEGY Marketing Strategy: 1) Segmentation, Targeting and Positioning 2) Content Strategy 3) Customer Journey Marketing Digital Strategy THE CHEKCLIST 1.Marketing Strategy (STP) 2.Content Strategy 3.Customer Journey Who: Buyer Persona Value proposition Topics per phase, Ecosystems, Tools, Goals->>Analytics What: Value Proposition into storytelling and formats, channels, People, Investment on KPIs & Metrics How: Mkt. Strategies topics that attracts and tactics. the Buyer Persona Risks and Customers More in session 2 4.Resources Needed 5.Track Performance MARKETING STRATEGY: SEGMENTATION Dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors and who might require separate marketing strategies or mixes. Market Segmentation Demographics Age Marital Status Marital Status Gender Geographics Ethnic Background Local Income Psychographics More in session 2 Lifestyle Personality Values Attitudes Behavioral Benefits Usage Patterns National Regional International MARKETING STRATEGY: BUYER PERSONA More in session 3 CONTENT STRATEGY - VS COMPETITORS: Quantity Diversity Documentaries More in session 6 Quality Bestsellers Creating Hype THE CUSTOMER JOURNEY: 7 STEP 1 - AWARENESS 2 - "ZMOT" 3 - EVALUATION 4 - "1st MOT" 5 - "2nd MOT" 6 - LOYALTY Buyer Persona has been impacted by a stimuli or has a need that has to be solved Buyer Persona will search for that need and see options (brands) in Search Engines (Google, Bing, Yahoo, Amazon, Instagram....) Buyer Persona will search for reviews on a specific brand and brands should have available good reviews and ratings from customers. The Customer is waiting for the product/service to arrive and the brand communicates with the buyer on a personalized way The Customer if happy, The Customer would like to shows off and the brand repurchase. The brand will ask them to become should promote an ambassador of the techniques to induce to brand. a second purchase or push for recomendations for new customers. Chanels: - Advertising: Display, Social Media (SoMe), Email, Mobile Ads, Video, Gaming Ads - Viral Marketing - Influencers - Blog/ Community Chanels: - Search Engines practicizing SEA: Search Engine Advertising and SEO: Search Engine Optimization Chanels: - Social media (SoMe) - Influencers - Blogs - Review Sites - App Stores Buyer Persona has landed in the brand's web, app or web-app, metaverse... to find the product/service he/she is interested to buy or download. Brands should prepare a good "home" and product pages Chanels: - Web - App - Community/ Blog - Owned SoMe handle Chanels: - Mobile Mkt - Email Mkt./ Newsletter Chanels: - Mobile Mkt - Email Mkt./ Newsletter - Loyalty platforms/programs More in session 3 7 - ADVOCACY Chanels: - SoMe - Email Mkt./ Newsletter - Review Sites DIGITAL MARKETING JOB POSITIONS DIGITAL MARKETING MANAGER CX (CUSTOMER EXPERIENCE) MANAGER: UX (USER EXPERIENCE) MANAGER A marketing expert who can understand the brand and the customer journey, as well as, what channels are more efficiently used to add value on every touchpoint and is capable of designing an omnichannel marketing plan and has the operational skills to execute most of its tactics, in most of its channels (and coordinate all other channel-specific experts). He/she is also responsible of measuring the performance, analysing the data and processing it in order to take wise decisions to produce the best combination of revenue and ROI The Customer Experience Manager has CLIENTS/CUSTOMERS as a focus and would be in charge of evaluating and improving the way in which all touchpoints along the customer journey are relevant, valuable and satisfactory to the client. Works closely with all members of the online and offline marketing teams, the IT team, the communications team, the physical store managers, the employees... The User eXperience Manager would report to the CX manager and would be specifically in charge of the User experience (Visits or Customers) on the website and/or mobile app, to make sure its users find what they are looking for. Typically with expertise in both graphic design and marketing; will design the wireframes that represent the best navigation flow to increase conversion rates DESIGNER A lover of art and design, who must be able to transform ideas into tangible models on the screen of a computer. Would typically receive a set of wireframes of a website or mobile app from the UX Expert and designs all the visual elements in it DIGITAL MARKETING JOB POSITIONS CONVERSION RATE OPTIMIZATION (CRO) MANAGER The person in charge of analysing performance data and improve the conversion rate of the website and/or mobile app, defining what changes need to be tested. SOCIAL MEDIA MANAGER PR EXPERT COMMUNITY MANAGER Someone in charge of the presence in social media to make the most of it as both a communications and a marketing channel. Would define the strategy in social media: owned, paid and earned, and execute it or coordinate the experts working on it (Community Manager, Influencers) In most cases the SoMe Manager is also the Social Media Ad Experts). Someone in charge of the communications with the stakeholders of a business, can particularly be very helpful when closing deals with the media, authorities and specially influencers. It is often the person responsible for brand sponsorships, the media and events. Reporting to the social media manager, in charge of the communications with followers, organic content publishing and online support with followers and customers. In close contact with the Content Producer: typically journalists, photographers and video producers which create content which you will use on your marketing and communications or will produce it himself/herself DIGITAL MARKETING JOB POSITIONS EMAIL MARKETING MANAGER MOBILE MARKETING EXPERT SEM EXPERT Reporting to the digital marketing manager, this person would be in charge of the execution of email marketing campaigns through an email strategy involving lead magnets, segmentation of data bases, lead nurturing campaigns and responsible for Lead Scoring of the DDBB. Someone who can ensure the best performance of our advertising and marketing in mobile devices; promote our mobile app and ensure that its UX is running smoothly and generates revenue The person responsible for ensuring the visibility of the brand on search engines, whether with organic techniques and therefore applying SEO on-site and offsite factors or SEA: paid techniques on search platforms (ex.: Google ads, Amazon...) DIGITAL STRATEGY DISCLAIMER: Many of the topics covered in this 10 session course will be seen in more detailed in the following courses, ex.: Customer Journey, Owned, Paid and Earned Media etc... In this course you will see the role that these topics play in the Digital Strategy of a company 1.REVIEW THIS PRESENTATION What now? 2. READ ARTICLE IN SYLLABUS: 6 EXAMPLES OF DIVERSE AND INCLUSIVE COMPANIES (BUSINESS NEWS DAILY) 3. GROUP PROJECT GET INTO YOUR GROUPS DECIDE ON A BRAND OF YOUR CHOICE (IF POSSIBLE, A RELATIVELY YOUNG BRAND: 5-7 YEARS OLD) YOU WILL FIND THE ASSIGNMENT UPLOADED SINCE DAY 1 IN YOUR BLACKBOARD WITH ALL THE TASKS YOU HAVE TO DELIVER ON SESSION 10