[SOLVED] peer response
Im trying to study for my Marketing course and I need some help to understand this question.
Channels and Metrics
Choose one digital, social media channel and one traditional channel that you plan to use in your marketing campaign. For each channel, answer the following questions:
- Why is this channel an appropriate choice to promote your product or service?
- What type of data will you be able to collect related to your use of this channel in your campaign?
- Would PAR and BAR metrics be useful in assessing your return on investment for this channel? Why or why not?
Now consider the company’s own website, which is also a marketing channel. Answer the following questions about the company website:
- What type of content will be needed on your own website to support the launch of a new product or service?
- What type of data will you be able to collect related to your use of the company website in your campaign?
- Would PAR and BAR metrics be useful in assessing your return on investment for your company’s website? Why or why not?
- reply to at least 2 of your classmates
Good morning, professor and classmates! I hope you are all doing well so far this week! One of the channels that I am using to promote my product, SafeAlert is Facebook. Now, I will admit at first I thought Facebook was the easy choice due to its popularity, and I would very easy to use emotionality to promote the brand to a wide audience. I could have some success going that route, but really would be taking a huge gamble by blindly putting it out there in the virtual world. However, since I use the business side of Facebook in the “real world”, I chose the channel due to that I can easily select a population of choice to determining PAR and BAR. These would be very helpful by determining if people are acting on the awareness of the product (PAR) and then if they are taking the next step through sharing with their friends and family (BAR). If effective, the brand would start to spread throughout other communities, which we could determine, and the time to spread the product further could be determined.
I’ve thought about how the website would function alot over the past few weeks, especially considering the nature of SafeAlert and what I am trying to accomplish. The purpose of the social media posts are to strike that nerve of emotion and get the customer to act. However, the website needs to be more detailed with the information for the customer. Along with this, we could use information such as customer testimonies and other details that you normally would not share on social media. People click on ads with social media out of interest, but websites seems to be more intentional. I am not too sure that the site PAR or BAR would show be as effective as social media, but would be an effective tool to measure searches for SafeAlert and clicks on the website to get to the point of purchase.
Week 6 Lecture Notes https://blackboard.strayer.edu/bbcswebdav/institution/JWMI/518/DOCUMENTS%201196/JWI518_WK6_LectureNotes_1196.pdf https://blackboard.strayer.edu/bbcswebdav/institution/JWMI/518/DOCUMENTS%201196/JWI518_WK6_LectureNotes_1196.pdf https://blackboard.strayer.edu/bbcswebdav/institution/JWMI/518/DOCUMENTS%201196/JWI518_WK6_LectureNotes_1196.pdf https://blackboard.strayer.edu/bbcswebdav/institution/JWMI/518/DOCUMENTS%201196/JWI518_WK6_LectureNotes_1196.pdf
The digital channel I will use to promote the Jack Welch MBA is email. In using this platform, I will be able to reach a broad and willing audience while also keeping costs relatively low, leading to positive returns. Instead of generic emails, personalized emails addressed to each recipient, will lead to more return responses. The response will then lead us to act appropriately depending on if the potential student desires more information or if they are not interested. PAR (Purchasing Action Ration), which measures how good companies convert people who are aware of them into purchase actions, would be useful in accessing return on investment for this channel (JWI, 1). Making potential students aware of JWMI and what we have to offer will hopefully then lead to enrollments.
The social media channel I will use to promote JWMI is LinkedIn. In using this professional social media channel, I will be able to reach students and professionals alike that are looking for a platform for career growth (Garg, 2). In making contact with potential students, I will have access to their LinkedIn page, which outlines their educational and work history. Using this will provide a good indicator as to whether or not they will be the right applicant for our program. I will use PAR metrics regarding LinkedIn. Informing people of our program through pages such as the Jack Welch Management Institute (JWMI) Networking Group allows candidates to read stories of success and triumph od students participating in our program (JWMI, 3). On LinkedIn, we also include videos from Jack Welch, where he provides words of wisdom from the business world, which also helps draws people to our program.
The traditional channel I would use in my marketing campaign would be direct mail. Direct mail will give my audience a hard copy of the material that they can refer to at any time (Cave, 4) It will be hard to collect data using this method of marketing, but it will make people aware of JWMI and what we have to offer. This method of outreach will get to those potential students who are not on LinkedIn or whose email address we do not yet have. I am not sure that the BAR or PAR metrics would apply here. It is hard to gauge a conversion rate from outreach via mail to enrollments.
The content I would provide on my the website would be that of return on investment, practical learning, a flexible program, testimonials from current students and alumni, and a showcase of JWMI top rankings.
I will collect data from Poets & Quants to support the statistics that verify our rankings (Poets & Quants, 5). I will also utilize our JWMI networking site on LinkedIn along with our JWMI Connect website so students can witness the success stories of students in our program.
The PAR metrics would be the most useful in assessing our return on investment for my website in that we can track how the different methods of outreach lead to conversion rates of students. I would also add that the BAR metrics will be useful for us once students and alumni are in our program in measuring how JWMI will convert people into being loyal advocates for us (Truelson, 6).
- JWI 518. Week 6. Lecture Notes
- Bhanu Garg. 2017. Why LinkedIn is better than Other Social Media Networks for Business https://www.linkedin.com/pulse/why-linkedin-better-than-other-social-media-networks-business-garg/
- Jack Welch Management Institute Networking Group https://www.linkedin.com/groups/4250722/
- Julie Cave. 2016. Digital Marketing vs. Traditional Marketing: Which One is Better? https://www.digitaldoughnut.com/articles/2016/july/digital-marketing-vs-traditional-marketing
- Poets & Quants https://poetsandquants.com/2019/10/14/the-top-online-mba-programs-of-2020/?pq-category=online-mba-news&pq-category-2=online-mba-rankings
- Mark Truelson. 2019. Bringing to Life BAR and PAR http://marktruelson.com/bringing-to-life-par-bar/