VI. Marketing Plan
6.1 Promotions Strategy
Marketing is critical to ensure business success. The Company will frame effective marketing strategies to deal with the competition and enhance client relationships. The following marketing strategies will be used:
Pre-Opening Events
Before opening the social e-commerce business, [Company Name] will organize pre-opening events designed for prospective customers, local merchants, and press contacts. These events will create buzz and awareness for [Company Name] in the area.
SEO
Search Engine Optimization (SEO) is a useful marketing tool that the company will use to drive more traffic to the website. The cost-effective marketing strategy will help increase awareness about the platform and its offerings.
Public Relations
[Company Name] will hire an experienced PR agency/professional(s) to formulate a compelling PR campaign to boost its brand visibility among the target audience. It will look to garner stories about the company and its offerings in various media outlets like newspapers, podcasts, radio shows, etc.
Strategic Partnerships
The Company will partner and connect with the best influencers in the industry, as engaging with influencers on social media is good for the brand's credibility. A mention from an influencer will make people trust the brand and help the company tap into the influencer's loyal audience, which can lead to more conversions and higher sales.
Testimonials
Customer testimonials are the key content element. Using testimonials increases creditability as they are unbiased. This social proof helps the company to build trust amongst its potential customers. The Company will be using customer testimonials to increase its leads.
Special Offers
Offers and incentives are an excellent approach to assisting businesses in replenishing the churn in their customer base that they lose each year. The Company will introduce special offers to attract new consumers and encourage repeat purchases, which will be advantageous in the long run.
6.2 Pricing Strategy
Pricing strategy is one of the most crucial aspects of any business's approach to consumer attraction. Prices are a foundational element of a company’s revenues—if managed carefully, they can result in significant profits.
[Company Name]’s pricing will be moderate, so customers feel they receive great value when availing of the services they are paying for. Customers can expect to receive exceptional social e-commerce services at a far more affordable price than what they pay to a well-established social e-commerce company.
6.3 Distribution Channel
The Company will partner with world-class brands for its product range. Also, it is in a business to retail a wide range of products that will majorly target individuals through its social e-commerce platform. 81% of consumers use Facebook and Instagram to explore products, and shopping is a top priority for 48% of Pinterest users. The Company will also leverage social media platforms like Facebook, Instagram, Pinterest, etc., to sell its products online.
