Discussion on the importance for HMV to invest in its digital marketing with the existing traditional market
Discuss about the importance to invest in digital marketing for HMV.
From the current analysis of digital marketing approach it has been found that lots of advantages are there of digital marketing over traditional marketing. However, different laws and guidelines of digital marketing re there those could identify and develop proper discrimination between digital marketing and traditional marketing (Debortoli, Muller and vom Brocke 2014). In order to develop an integrated and effective digital marketing approach, the role of digital channels and the value of the ongoing analysis are also elaborated n this report.
This report depicts the importance of implementing digital marketing in one of the leading music retailers called HMV. In order to improve the website visibility of the HMV the search engine is to be used by the company accurately. The content marketing, digital channels and digital strategies those HMV should use for increasing its competitive advantages are also illustrated in this report.
From the foundation principles of digital marketing it has been found that the effective digital marketing tactics HMV varies from other organizations. The company can easily make discrimination between the digital market and the traditional market. In the year of 1921, the ionic UK entertainment retailer had opened their very first store on Oxford Street. The resultants generated from the fended off competition, it is found that from the last 3 decades, HMV has been one of the leading music retailer specialists. However, from 2012 the online retail store has stolen the crown from HMV. In order to compete with Amazon, the digital search engine and some new strategies to strengthen and reinforce are required to be incorporated to the HMV music business. After figuring out the traditional and digital business background it has been found that, in order to accomplish both the promotional and marketing activities, digital marketing is very helpful. Marketing aspect can never be ignored by any business association even large business organizations always set out separate budget only to serer the business marketing purpose (Beier 2016). There are some companies who are extremely reluctant to adopt the idea of digital marketing due to chances of certain risk occurrences.
Difference between traditional marketing and digit marketing
In the traditional marketing of HMV, there was a very small interaction between the consumers and the medium used. Thus, the traditional market fails to provide enough of updated information to the consumers. Both the print and radio advertisements were much expensive and the level of security was also minimum. There was a boundary in timing which means that users cannot access traditional market any time from any location.
Difference between traditional marketing and digital marketing
On the other hand, the digital market is available for 24X7 hours and the chances of error occurrence also get reduce due to the replacement of manual system with the computerized digital system. The payment process is also secured and the users can search for their desired products anytime from anywhere. It increases the interaction between the consumers and the service providers and widens the application field. In digital marketing the clients have the option to select as per their choice. In this case the data and results can be easily recorded. Moreover, digital market helps to improve the brand values of any organization.
HMV should invest on digital marketing because it seems to be much precious than the traditional market because the traditional marketing strategies fail to segment audience as effectively as the digital market can (Amudhavalli, Rajalakshmi and Sindhu 2018). Through the digital market tools the ideal list of audiences could be easily targeted. Thus, HMV Music Company will easily be able to focus on the great resultants of digital market. As internet is continuously expanding thus, it is expected that through this HMV will keep on growing exponentially. HMV could reach better visibility and success through digital market effectively. It provides proper control over experience of the consumers.
The digital prospects can easily asses; review other’s opinion on the products and services served by HMV. The practical reach of the digital market has basically does not have any boundary it means that its reach is unlimited. Through viralization he HMV brand could reach the peak of success (Holliman and Rowley 2014). These are the reasons for which the company would easily able to boost their creativity and thus HMV should invest on digital marketing over the traditional market.
The steps to be undertaken to design and effective CEO, PPC AEO and online display and video advertising campaign
PPC is also known as Cost per Click process which generally uses different auction and ranking system for determining the advertising those have been appeared in the orders. With PPC advertising and advertisement placement could be easily determined by two different things such as maximum an advertisement bids for the search queries and the quality score of HMV products and services (Kuberappa and Kumar 2015). Search engines are strictly focused to deliver all well targeted SEM campaign on which they are dependent on:
- It helps to specify and understand the target audience
- It can set specific goals and campaigning as well
- It can choose correct keywords of target
- It can serve compelling advertisements
Apart from these above mentioned tools there are other tools that may be used to gain success in the market and that are Screen slate. Screen slate a moving image culture established in 2010, provides comprehensive daily overview of the repertory, independent, micro cinema and gallery screening. The subscribers of this tool can get email option which delivers listing to the inboxes. The video shoes are again accompanied by localized commentary by some of the famous writers of New York. In order to successfully accomplish the HMV business in the competitive market this tool stands very helpful.
Critical discussion on the usage of search engine by HMV to improve website visibility
Search Engine Optimization (SEO), is referred to as one of the most low cost resultants of any business. The top listed companies are not required to pay per click or allocate a total budget for the advertising, which is one of the main advantages of search engine optimization technique (Malhotra 2015). It helps to reduce the rate of traffic or congestion in the website and the company will not have to pay any amount for that person who clicks over the digital advertisement of HMV. SEO provides high level of visibility to the website of the company.
From a general rule it has been found that, the sites which appear higher up in the result gets high level of traffic at their web pages and so potentially in more businesses. The goal of using SEO is to get to page one and ideally to the initial position, however whether that is feasible largely depends upon the market on which they are continuously operating. Search engine provides one of the key tools in terms of piece of software in a methodical as well automated manner. Currently most of the business organizations are widely using the internet shopping and even the consumers also prefer the online shopping (Brocato et al. 2015). The initial starting point is searching for the requirement. If it is found that, on the first of searching the company website is not visible then it will be identified as an invisible site. The reasons for incorporating SEO in the HMV business are as follows:
- Around 97% of the total consumers currently prefer online shopping than traditional shopping
- All the clicks through traffic in the Google search engine results move to the #1 location
- It drives qualified traffic to the site
- It increases the mode of conversation and communication approaches as well
- The rate of bounce also gets reduces
- It is helpful to engage consumers to their company through promoting the local business
In order to set up, launch and manage an online display campaign, certain steps are required to be followed by the company (Koskinen 2016). The followings are the steps to be maintained by the HMV Company before making investment in digital marketing.
Step 1: Selection of company goal and KPI for successful advertising campaign
Step 2: Defining the target audience
Step 3: Finalizing the goal of campaigning and the target audience. In this phase the channels those are considered include publishers, advertising networks, demand side platforms and advertising agencies as well (Lamberton and Stephen 2016).
Step 4: To develop proper campaigning creativity
Step 5: Tracking and optimization through targeting, inventory management, creativity and leading pages
Identifying the way through which HMV could target its key audience through search engine marketing
In order to develop any search engine optimized web content the developers much focus strictly on target audience. Thus, HMV should focus on the current audience before implementing advanced digital marketing for their organization. Certain steps are there those are needed to be followed by HMV to identify their target audience
The steps to be undertaken to design an effective CEO, PPC, AEO, and online advertising campaign
Step 1: Identification of selling points
Identification of selling point implies that, this is the very initial phase of identifying key audience through search engine marketing. It will help to convert the existing business very much special in terms of digit business. The offers those are going to be served to their target customers are identified in this phase (Togawa, Sato and Saito 2017). The reasons for which the consumers should choose HMV Music Company over others are also elaborated in this section. However, in order to identify the key audiences key selling points are the first step that has to be focused on. Certain unique features must be added to it to understand the type of audiences who are choosing HMV over the rest of the music companies.
Step 2: Examining the existing audience
This is the second step through which HMV could reach to their target audience easily. After analyzing the current audience, their demand, choice and purchase decisions the rest of the target audience can be identified (Edelman and Heller 2015). There are certain tactics through which the current audiences can be analyzed. The steps are as follows:
- Collection of email from the purchasing and sending proper follow up surveys accordingly
- Proper investment should have to be done in the customer relationship management software
- At the purchase point proper demographic collection are to be done
Step 3: Asking for the opinion of the outsiders
Most of the times, companies fail to analyze the expectation of the consumer’s from their services and products. The members of the companies have become very much immersed in the internal jargons and processes as well those have harder stepping back timing (Dasgupta and Ghatge 2015). In order to identify or target audience for HMV Music Companies some outsiders such as third party vendors, suppliers or even random sampling are require to be enlisted. They will help to provide imminent on the company, its services and other practices as well.
Step 4: Audience profile creation
This is the forth step of identifying target audience through search engine. In this phase for all the audiences proper profile is required to be created. In this particular phase the activities those are enlisted for the audience include their attributes, goals and all the rest of components enlisting in the search engines (Dhote et al. 2015). Whenever new audiences will be added, the marketing team of the company will come to know about the profile or background of that particular audience.
Demonstration on how content marketing can be used to attract consumers
Content marketing is referred to as one of the most useful marketing approach that may lead a business towards massive success. In other words content marketing is referred to as a strategic marketing approach, which is completely focused on creation, valuable as well as relevant distribution and development of consistent contact for attracting both the existing and new audience. There are many companies those have successful content marketing campaign, to lead its business towards commercial success and competitive advantage. One of the most worldwide famous brands Dell leads nurturing campaign and achieved over $40 Million in their incremental revenue. The market strategy of the company did not account for following up on leads from the partner campaigns and as a result the ROI of the company falls to market loss. Due to this reason the connection between the marketing efforts and sales rate were disconnected.
In order to resolve the issues, Dell has implemented some advanced campaigning strategies in terms of nurturing solution utilizing thousands of pieces containing uncommon contents for personalizing the experience of every lead by different interactive content including the emails, landing pages.
With the help of this campaign marketing the profit that the Dell has gained includes the following:
- Dell faced an average of 38% of increased sales value in nurtured and un-nurtured
- More than 300% of the consumers were engaged to the company
- From the marketing partners the company has gained over $40 million of incremental revenue.
Through developing accurate connection between content marketing and social media, HMV can also gain success. The following are the factors to be achieved to improve marketing campaign of any organization.
Attract prospective consumers: The initial objective of the company is to create awareness among the consumers and employees. It helps to ensure that it is meeting the requirements of the consumers during the decision making approach of the company (Järvinen 2016). Before making any kind of product buying decision, the clients should consult with different sources. With the help of informational articles the business can communicate with the prospects over the social media sites.
Gives better search engine optimization approach: In previous days key stuffing approach was widely used to trick search engines but currently, search engines have advanced algorithm that allows the users to access the content of the quality details. Google will give more opportunity to HMV through showing it in the front pages of Google Search engine if it produces a high quality contents continuously (James, Zhang and Williams 2017). It means that the clients who are searching for the topic will found the HMV company details in the front pages of Google Search engine. Content marketing will benefit HMV business by growing the search engine optimization and thus the visibility also.
Increasing website traffic: With the consistent delivery of content quality about the company details increases the website traffic range. People will come to found the website as the more valuable and relevant content will be created by the niche. As much content, the company will append to their official websites, the number of coming future questions from the consumer’s side will automatically reduce (Leite and Azevedo 2017). Thus, it can be said that, content quality improvement of any business organization and the number of consumers are directly proportional.
Giving quality leads: In order to take careful decisions about product purchasing, currently the consumers use many access tools and resources as well. For generating leads for business, content marketing is referred to as one of the most powerful tools to be used by HMV for attracting the consumers. Besides this, proper content about the products and services also helps to establish high level trust among the customers and service providers.
Increasing rate of sale: Through usage of content marketing business will get opportunity to engage the readers. It increases the lead conversion that results more sales of the business. Due to unattractive content details more consumers are currently blocking the advertisements (Watrobski, Jankowski and Ziemba 2016). Thus, content marketing is one of the most accurate ways to convert the casual readers to buyers. Content marketing is non disruptive and it naturally invites the target audiences to get engage to their business.
Increasing brand image: Through the content marketing only, an organization might get high level respect and trust from the consumers even before making any kind of product purchase. According to the current globalization era, brand image of an organization is everything which is facilitate by content marketing. With the help of content marketing HMV will be able to control the business reputation in terms of brand identity.
Improving brand visibility and brand loyalty: Regular interaction with the consumers via great content helps the company to stand out from their competitors (Chaffey and Ellis-Chadwick 2016.). As much the company shows concern about the audience, the more the company recognized as an expert.
Brand loyalty helps a content reader to become a first time buyer of an organization and also helps the first time buyer to become a repeat client of the company. With changing time content marketing helps the clients to become more loyal over the competitors of the company.
Improve customer relationship: Currently CRM has become an important tool for business and to make perfect purchase deign. Before making purchase decision currently most of the consumers are rely on the response of other buyers. The customers who will be attracted towards the content quality and marketing strategy of an organization will give good review about the product and services (Karjaluoto, Mustonen and Ulkuniemi 2015). Thus it can be said that these are the ways through which, consumers can be attracted through content marketing strategy.
Documentation on the laws and guidelines to be considered with regards to the search engine marketing
Certain guidelines are needed to be followed while using the concept of search engine optimization in the business organization. Some important search engine optimizations methods are there to be avoided while the usage of SEO in official website of HMV. Due to the usage of these unethical techniques, the website might be removed from the index of Google. When the site gets banned from Google will never be appeared in the pages. The laws and guidelines to be followed are mentioned below:
- Proper security to the data server used by the company
- Using the strategy of social media marketing
- Analyzing the importance of Instagram
- Keeping aside a very few budget for the FB articles
- You tube video clip and using the concept of running a blog
- Based on consumer made FB viewers conversion should be increased
With the application of email marketing, social media and marketing workshop, any business will be able to gain measurable success from the competitive market and the following are the benefits can be achieved with these incorporation.
Benefits of email marketing:
- It makes a business cost effective and leaser the targeted
- It increases the scalability of the operations including sharability and social media synergy
- Enhance the brand awareness, metrics and analytics
Benefits of social media marketing:
- Helps to recognize the brand image and saves cost
- Build trustworthy relationship between the consumer and the service providers
- Conversion rate increases with driving traffic
Benefits of marketing workshop:
- Builds meaningful relationship between the members associated to the digital network
- Stay up-to-date about the current trends along with powerful speakers
- Helps to turn the target audience with changing requirements
- Helps to get fresh and strategic idea about business functions and operation
In the online marketing landscape, social media marketing has become one of the major fixtures. In order to share the updates and promotions in the virtual crowd, different social media networking sites such as Facebook, Twitter are used by the business organizations (Royle and Laing 2014). For increasing the brand publicity people can share and like the posts in real time. In order to reach the broadcast audience, the modern campaign of marketing is required to be much diverse in nature.
On the other hand email marketing, has been around for quite bi longer. However, it s not that much exciting like he social media marketing. There are three times more email accounts than the presence of Facebook and Twitter accounts combined (Taiminen and Karjaluoto 2015). Email marketing allows the clients to get to know more about the new products, features and services.
Discussion on the most effective channel
After comparing both the email marketing and social media marketing it has been found that social media is much beneficial than email marketing. The users feel free to use social marketing over the email marketing. Social Media Marketing (SMM) is based on entertainment and the users are never gets pressurized to buy products urgently. Currently almost each and everyone is connected to the social sites thus the advertisement and campaigning done through the social media, gives greater opportunity to the consumers to go through the details content of the company (Chaffey and Ellis-Chadwick 2016.). Through social marketing the clients can easily share the information with the interested buyers. Not only this, but also the existing consumers will be able to share their responses or experiences, to the others through the social media marketing strategy. Through SMM, across the platform clients can get real tie updates as well. Email marketing offers personalized audience, to get connected only.
There are different ways through which HMV can utilize the website optimization techniques to attract more number of consumers and to keep the existing consumers too (Leeflang et al. 2014). Official website of any business organization can create either positive or negative impression of the products, goods and services of the business. A website is required to be user friendly, easy to navigate and intuitive as well. Not only this but also for the site traffic and mobile devices the website should be optimized. Based on the business background an appropriate website performance optimization technique is needed to be used for HMV.
HTTP request reduction: As much HTTP requests for the web pages, due to extreme load the website gets slower down. Browser is absolutely limited for the opening of certain number of continuous connection to a host. In order to prevent bottlenecks, through the usage of resource consolidation the elements of the individuals also get reduced from the website (Tiago and Veríssimo 2014). One of the most important optimization techniques which have biggest impact on the consumers is the HTTP request reduction technique. If there is limitation then the developers are required to use optimization tasks and optimization request reduction.
Figure 1: stages to utilize website optimization technique
(Source: Stephen 2016, pp-20)
Web compression: With proper and organized construction of code files (such as JavaScript, HTML) websites can be developed by the web developers. In most of the times web pages grow in complex environment and thus are completely dependent upon the code files and the load times. Around 80% of code files can be reduces with file compression technique and thus with the reduced complexity the website become much responsive in nature (Järvinen and Karjaluoto 2015.).
Code minification: This is another website optimization technique that helps to make discrimination between the codes those have been written by the professional website developers (Karjaluoto, Mustonen, and Ulkuniemi 2015). It also defines the way through which the network can eliminate all the interpret code. All the spaces and comments can be removed through minification. It also helps to crunch the name of the variables for minimizing the codes.
There are some more techniques available in the market those can be used by the business organizations. The techniques are lossy compression, vector graphics replacement, images optimization etc (Royle and Laing 2014). However, after analyzing the details of the business background of HMV, it has been found that for this company the most suitable website optimization techniques are the HTTP request reduction. The steps followed for reducing the HTTP requests are as follows:
- Counting the total number of HTTP requests the website is currently getting
- Elimination of all unnecessary images from the website
- Reducing the size of the files for all the remaining images
- Evaluating the rest of the parts of the pages those have contribution to the page loading time
- Making JavaScript asynchronous
- Combing all the CSS files together
Proper tool and measuring metric should be selected to measure the digital strategy success (Taiminen and Karjaluoto 2015). The efforts and success of the digital market of HMV can be measured with the help of the success measuring tool. For this company the tool rather metric that can be used are as follows:
Overall traffic of the site: HMV should create a base line prior for adding new components along with the marketing efforts. Then the company will definitely be able to find out enough traffic in the website network.
New and existing traffic: Based on the mission and vision of the company it can be said that HMV is definitely willing to grab more new consumers and also wants to hold their existing consumers. In order to accomplish the organizational goal, proper campaign must be designed by the website developers (Stone and Woodcock 2014). Thus, with the rate of traffic in the website network HMV can measure their business success.
Average time spent by the website visitors: Once a visitor clicks on the website link of HMV he or she will be counted as the website visitor. Again the total time, one client is spending on the website also helps to define his or her interest on buying products from the website. The total number of visitors and the time they have spend on the HMV website measures its success.
In order to gain competitive advantages and compete, other companies of United Kingdom such as Amazon, HMV should incorporate proper activities with their existing digital marketing strategy. For obtaining high economic success from the competitive market the tasks those should be append are as follows:
Incorporating original video content: In the current market the video content adding has become one of the major tools (Baltes, 2015). It helps the company to grab their target consumers. The company datasheet can add two to three minutes of video to give a visualized idea to the consumers. The video should include the history of the company it’s, struggling phase, its success story and the offers serving by them.
Influencer marketing: In some cases the business leaders are found to look at other technical experts and their creativity to product purchasing and implementation. In order to increase the social media reach and credibility of the business organization, all current organizations are currently partnering to other companies. It helps to identify the target buyers, determine the industry influencers and also to create social credibility.
Adding high content to the website: Content marketing is referred to as one of the most widely used technologies, in the current market that helps to identify the target consumers and their demand as well (Watrobski, Jankowski and Ziemba 2016).
The other activities such as, addition of animated explainers, client testimonials and animated info-graphs those are required to be considered for HMV to increase their brand value and financial success as well.
Conclusion
From the overall discussion it can be concluded that different success measuring tools are there through which the success of HMV’s digital market could be measured. The ways through which the digital marketing capabilities of HMV are improved are analyzed and the advantages of digital marketing over traditional marketing are also discriminated and elaborated in this report. In order to obtain competitive advantages from the market place HMV should improve their website visibility all among the competitors and consumers. Using different advanced ways the search engine marketing of HMV are developed. The list of laws and guideline documentation which helps to attract the consumers is also critically discussed in this report. Besides this, many other effective and attractive engaging and retaining technologies are to be used by HMV to improve the performance of the websites. The key activities, digital marketing discipline and associated process or milestones to be regulated by HMV are also illustrated in this report.
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