Social media marketing is the way toward utilising web-based social networking stages to advance and sell your items, services, and brands. Brands can utilise both unpaid (natural) and paid social media marketing promoting strategies to increment online deals and create mindfulness. 

Social media sites incorporate the most popular ones that many people know, as Facebook and Twitter, yet there are additionally less well-known social media websites that brands can take advantage of. Deciding the correct web-based social networking channel for your image relies upon what you’re selling, who you’re offering to, and your general business objectives. Some of the few tactics I can that I would inform my friend is to:

Content Posting:

By posting more on social media outlets it will start to make your target market more interactive and engage more with the brand, by doing this consistently posting new sporting wear for women, men and other sporting products will attract awareness. Consumers will always want to browse your website on other social media platforms as well to see if your brand is socially engaging within the media environment, so by having more content it will show consumers that you have some great equipment (Shopify, 2019).

Hashtags:

The hashtag has a big part of the social web from seeing other sporting brand in terms of promoting their sportswear on social media which makes it easier to join in on discussions and events by posting under the ones that are relevant to your brand. As well as monitoring your posts to also retweet and reply to posts under several hashtags. (Shopify, 2019). Be careful not to use hashtags the same on every social media channel because for different applications such as Facebook don’t really use hashtags. But for other outlets like Instagram and Twitter this is where you can use hash tagging to you advantage to get your products more of a social awareness.

Influencer Marketing:

By having or trying to connect with people to promote your brand or sporting wear is a great way to get more of social consumer awareness because it can lead to more people viewing your brand and even potentially be coming regular customers. Just be having a famous celebrity or even friends that help promote your equipment on their social media platforms can make a huge difference and is a great tactic of course if you want to get celebrities or sports icons it is going to cost you (Shopify, 2019).

The Ease of Sharing Products:

While having pages and accounts of your E-business on social media outlets a great thing to have on your website is to have share button/icons which will encourage consumes and customers to share what products they like, or even to have a model wearing the sportswear and having a tag to show where they got the product from can help make your business more viral and popular for specific products (Shopify, 2019). But you would want share buttons only on the main focused social media out lets, like (Twitter, Instagram, Facebook) this can help drive some social traffic and boost up your sales and productivity.

Trending Topics:

Trending is today’s society and generation on social media Is a big topic, so if you were to align some of your content posting of photos and tweets with some relevant topics on the social web, this can also make consumer feel more comfortable within the social environment. This can also create some website traffic which is always great.

References

Chaffey, D., Ellis-Chadwick, F. (2019). Digital Marketing. 7^th edition. Pearson

Shopify. (2019). 17 Social Media Marketing Strategies to Grow Your Online Sales. Available at: https://www.shopify.com/blog/7900695-12-social-marketing-strategies-to-grow-your-online-sales#automate [Accessed 9 Sep. 2019].

The impact of the internet and digital technologies through the past decade has been crazy as new technology gets developed every year. From the approach of the advanced society, brought forth by the development of the PC and ENIAC, one of the main computerized PCs in 1946, to the present day, advanced innovation and registering have worked their way into more everyday issues, from communications to finance to social cooperation (Techwalla, 2019).

The marketing mix is the series of four key variables which are: Product, Place, Promotion and price, but then was extended to 7P’s which result in adding, people, physical evidence and process. The marketing mix has been characterized as the “set of marketing tools that the firm uses to seek after its marketing ideas in the target market” (Chaffey & Ellis-Chadwick, 2019).

In this Blog entry we will discuss the impact of the internet and digital technologies with the marketing mix elements of the 7P’s on the music industry. As you all know when it comes to music, I am a massive fan as I share and repost music every single day on my social media outlets and I’m always looking for when my favourite artists are dropping new singles or albums.

The music industry includes the production, spreading, and clearance of music in a variety of structures just as the advancement of live musical performances. Individuals allegedly have purchased, sold, and bargained music for whatever length of time that it has been made. Road vocalists, wandering minstrels, broadside dealers, and voyaging music instructors created stopgap grassroots music industries that have contrasted more in scale than in kind when contrasted with the cutting-edge music industry (Encyclopedia.com, 2019).

Product: the internet in terms of music is a worldwide source and platform to either downloading music or streaming music. Nowadays majority of artists when bringing out new musical content come out with albums with track numbers from 1 – 15 songs per album. With these albums the internet is the main source to sell digital copies, which is the best way to maximise sales which has made a huge impact within the music industry. In terms of the quality of the product although in the current world all music is digitised but back in the old days were music and albums were on CDs and Vinyls the quality would allegedly be better. Now with music being focused and displayed with different audio formats streaming services might generally not get the best sounding songs.

Place: before the means of music being on streaming services such as, Apple Music, Tidal, Spotify, Soundcloud, YouTube etc, music use to be on compacted CD disc’s which were the means of listening to music. Now with new technology over the years music has generally been encoded and decoded to fit on different formats and files such as, WAV, ACC, MP3 and MP4, this has made a huge impact in terms of spreading and developing new innovative ways to listen to music as now we have personal digital devices such as phones, iPod’s which makes it easier. By having just, the internet only it would make it hard for people to listen to music without buying a hardcopy, this generally would lead to websites where there were pirated files online which people would download, which is illegal. So that we have these new and developed subscription streaming services for music it has impacted the music industry tremendously.

Price: Before the means of streaming services, CDs were the key products of music, I remember paying about $20 – $30 for an Album which was loaded on to a CD. Now with new digital technology and subscriptions to apple music and Spotify, you can listen to all he music you want with subscriptions from $5.99 – $7.99 a month on either of those platforms. Even on iTunes for you to own a song you can own it just for $2.00 or so depending on the song and the popularity of the song. Although this has had an effect on majority of artists within the music industry, most of them are trying to differentiate themselves with new strategies when it comes to musical production and price. For example, Jay-Z and Tidal or Dr. Dre Beats.

Promotion: A technique of promotion that has been used for the music industry has been musical based channel on TV services such as Foxtel, SKY and more. Within these TV outlets they have channels such as MTV, V, or channels specifically just for music, with these channels promoting the top 100 songs, genre-based music or newest music out, this helps artists in promoting their music. As to a couple of years ago when there was no pay TV the only way you could hear about music would be over broadcasts or radio shows. This new innovative way of advertising and promoting music through TV programs has yet again made the music industry a lot more focused in terms of promotion of music. Although artists use social media platforms to try and connect with their fans to showcase their music through applications like Instagram, Facebook, Snapchat, YouTube and Twitter.

Process: The process of how music has been innovated throughout the years has been extremely better as you can now listen to music not just from live Concerts but through digital electronic devices and now within  a lot of products like cars and smart phones/ watches they have features to where you can listen to music such as Carplay in new modern cars or Bluetooth audio systems which connect to your personal devices. As now through the past years you can say that the music industry has most definitely improved in terms of being more technically involved with modern society and the new means of digital technology.

People: In terms of the music industry, people have played a big role when it results to staying in touch with music, now that the internet is where most accessible music is people generally engage and try and stay digitally active and involved to keep up to date with music. Even with artists and celebrities constantly sharing musical content of new artists that they have discovered or songs they like people tend to interact more as it is so easy with new technology.  

Physical Evidence: Now with every song or album being digitised on streaming platforms, there is not many physical copies of albums being sold unless of course you prefer listening to hard copies, but now with new and innovative digital technology everyone is starting to adapt to listening to music online. So, in terms of using the marketing mix framework physical evidence isn’t really relevant to the music industry as technology is slowly taking over.

References

Chaffey, D., Ellis-Chadwick, F. (2019). Digital Marketing. 7^th edition. Pearson

Encyclopedia.com. (2019). Music Industry | Encyclopedia.com. [online] Available at: https://www.encyclopedia.com/history/dictionaries-thesauruses-pictures-and-press-releases/music-industry [Accessed 10 Sep. 2019].

Musicedmasters.kent.edu. (2019). The Music Industry | See the Impact of Digitization | Kent State Online Master of Music in Music Education. [online] Available at: https://musicedmasters.kent.edu/the-digitization-of-the-music-industry/ [Accessed 9 Sep. 2019].

Silcox. A. (2018). Marketing Mix Best Practices – Effective Examples of the Seven P’s. available at: https://www.leadagency.com.au/marketing-mix-best-practice-effective-examples-of-the-seven-ps/

Techwalla. (2019). The Impact of Digital Technology on Human Life. [online] Available at: https://www.techwalla.com/articles/the-impact-of-digital-technology-on-human-life [Accessed 10 Sep. 2019].

Wikström, P. (2013. The Music Industry in an Age of Digital Distribution. Available at: https://www.bbvaopenmind.com/en/articles/the-music-industry-in-an-age-of-digital-distribution/

Today I am going to talk about the business and revenue models for the online business call StockX.

StockX is within the industry of e-Commerce as it is an online based business and has its headquarters located in Detroit, United States of America. The company was founded by the former names of Dan Gilbert, Greg Schwartz, Josh Luber and Chris Kaufman in 2015. With their current of goal of making a sneaker resale market as the main service.

Business Model:

A business model is a basic overview of how a company works which involves the source of revenue, identifying its products that can be consumed, extended services and customer target markets (Chaffey & Ellis-Chadwick, 2019, p. 164).

StockX is an online sneaker platform which is reseller based, the general conduct of a purchase is formulated by a reseller wanting to sell shoes that are generally limited online to a consumer who is looking for a particular product. This process is a way of getting products to consumers for a fair price, but sometimes it is more expensive because the item is either so limited that you can’t find them anywhere instore or really expensive (Nytimes.com, 2019).

StockX online business is a legitimate site with legitimate products, the business has real specific people who asses the shoes to see whether the shoes are authentic or not. If they are not real the product will not be available on the website as a protocol of security and fraudulency. StockX doesn’t only focus on sneaker as its main purpose, they have extended their overall service to target customers and consumers who want to look for products such as Watches, Handbags, bags, Clothes and Accessories (StockX, 2019).

In terms of their specific targeting strategy StockX targets customers who are in the need of limited and luxurious products, so the same target markets as, Gucci, Louis Vuitton, Supreme, Off-white, Palace, Adidas (Yeezus), Nike and much more. Therefore, the general market is very competitive but by having products for reselling prices customer will come to the business and purchase products if they really want them the age group of target customer would be the ages of 18 – 30.

Revenue Model:

Revenue model is how the business describes their current methods and processes when generating income for their business (Chaffey & Ellis-Chadwick, 2019, p. 165).

As I have said at the start StockX is one of the most popular online business’s when it comes to reselling products within the reselling industry. The way they also market themselves is through social media platforms such as, Facebook, Instagram, YouTube and their own StockX application (Nytimes.com, 2019).

StockX in terms of generating income for the company focus mainly in the sales driven through the e-commerce site. The means of the platform works similar to a stock market, where buyers place bids and sellers place asks. When a bid and an ask match, an item is sold (Nytimes.com, 2019).

StockX derives through word of mouth through other companies like Nike and Adidas as these are the most brands that are sold everyday through the online website. Apart from generating money from off their website, StockX is a very successful business as many retailers and media owners are paid to promote StockX so that the customers know that this service is out there on the web. After a $110 million round of Series C funding in 2019, the company is valued at over $1 billion (Finance.yahoo.com, 2019).

So, in Conclusion this was my critical analysis of StockX in terms of their business and revenue models as you can see above this is very interesting as to how this online business works and became so successful.

References

Chaffey, D., & Ellis-Chadwick, F. (2019). Digital Marketing Strategy, Implementation and Practice (7 ed.). (T. Hill, & E. Srebernik, Eds.) New York: Pearson. Retrieved 08 15, 2019

Finance.yahoo.com. (2019). Yahoo is now part of Oath. [online] Available at: https://finance.yahoo.com/news/stock-x-is-now-valued-at-over-1-billion-193610129.html [Accessed 4 Sep. 2019].

Nytimes.com. (2019). A Nasdaq for Sneakerheads? StockX Aims to Tame ‘Chaos’ of Luxury Market. [online] Available at: https://www.nytimes.com/2018/07/06/business/smallbusiness/stockx-sneakerheads [Accessed 4 Sep. 2019].

Nytimes.com. (2019). Buy Low-Tops, Sell High-Tops: StockX Sneaker Exchange Is Worth $1 Billion. [online] Available at: https://www.nytimes.com/2019/06/26/technology/trading-sneakers-stockx [Accessed 4 Sep. 2019].

obby1000 and obby1000, H. (2019). This Is What the Future of Sneaker Reselling Looks Like. [online] Highsnobiety. Available at: https://www.highsnobiety.com/p/sneaker-reselling-future/ [Accessed 4 Sep. 2019].

StockX. (2019). StockX. [online] Available at: https://stockx.com/how-it-works [Accessed 4 Sep. 2019].

Innovation within a business is the involvement of evolving new products or sufficiently improving existing technologies, designs, methods and marketing to help the business be more successful and to help solve problems like increasing efficiency, targeting a more variety of customers and consumers to help increase the businesses profits and benefits (Business.gov.au, 2019).

A business model is an organization’s arrangement for making a benefit. It distinguishes the items or services the business will sell, the objective market it has recognized, and the costs it envisions (Chaffey & Ellis-Chadwick, 2019, p. 164).

When it comes to superior innovation you tend to think of business and companies that have really made a great adjustment to make their businesses successful. Today I am going to talk about the superior innovation of Spotify within their business model.

Spotify is an audio streaming platform that provides protected music and podcasts from record labels and media companies. Spotify was founded on 23^rd of April 2006, so roughly 13 years ago by Daniel Ek (CEO) and Martin Lorentzon. Its headquarters is in Stockholm Sweden as the company is Swedish formed (Encyclopedia Britannica, 2019).

Through the recent years Spotify has built its brand by first making there streaming service freemium and in doing that since the company has been very successful companies and business have requested and paid Spotify to advertise through there streaming service so that those businesses could get more customer awareness they did this in the freemium mode after every few songs (GrowthHackers, 2019). In this case it was a great way in teaming up to build Spotify’s company and other businesses who needed the awareness.

In 2018, Spotify also launched the ongoing ‘Black History Is Now’ project that includes a new content hub where mainly targeted artists, creatives, and organizations that are working with communities of African American decent can tell their stories through fixed and customised playlists, videos, and podcasts (Alphr, 2019). This was a very big project for project because the business was reaching out to new customers on such a huge topic in the united states of America. This was a great way of innovation in terms seeking more people to listen to Spotify.

Another point in where Spotify was introducing a new induce format of their products was when they hired Troy Carter as the manager of creating services in 2016. He noticed that Spotify at the time needed more of a spark to really start pushing streams to beat competitors such as Apple Music and Tidal, in doing that Troy noticed the lack of New personalised playlists. By Spotify making this a new tool within the streaming service, it reeled in active listeners of music and podcasts. The Discover Weekly playlist tool on Spotify later that year rolled 5 billion songs for over 40 million active listeners which was more listeners than Tidal and Apple music (Koch, 2019).

By endeavouring these newly flourished ideas within the brand development team of Spotify it has led Spotify to have over 100 million active listeners and over 40 million premium pay subscribers (Spotify.com, 2019). This has made Spotify’s brand and company spark and they did this just by introducing new products within the streaming service by coming up with new innovative ideas this made their overall business model very successful as them keeping getting better as time goes on.

References (Spotify)

Alexa.com. (2019). spotify.com Competitive Analysis, Marketing Mix and Traffic – Alexa. [online] Available at: https://www.alexa.com/siteinfo/spotify.com [Accessed 3 Sep. 2019].

Alphr. (2019). Spotify’s new Stations app is all about playlists without any of the faff. [online] Available at: https://www.alphr.com/spotify/1008362/spotify-stations-app-playlists [Accessed 3 Sep. 2019].

Bloomberg.com. (2019). Bloomberg – Are you a robot?. [online] Available at: https://www.bloomberg.com/profile/company/9239029Z:SS?cic_redirect=true [Accessed 3 Sep. 2019].

Business.gov.au. (2019). Innovation. [online] Available at: https://www.business.gov.au/change-and-growth/innovation [Accessed 3 Sep. 2019].

Chaffey, D., & Ellis-Chadwick, F. (2019). Digital Marketing Strategy, Implementation and Practice (7 ed.). (T. Hill, & E. Srebernik, Eds.) New York: Pearson. Retrieved 08 15, 2019

Encyclopedia Britannica. (2019). Daniel Ek | Biography, Spotify, & Facts.

Available at: https://www.britannica.com/biography/Daniel-Ek [Accessed 3 Sep. 2019].

GrowthHackers. (2019). How Spotify Turned Free Music into a $10+ Billion Valuation.

Available at: https://growthhackers.com/growth-studies/spotify [Accessed 3 Sep. 2019].

Koch, R. (2019). The Secret to Spotify’s Success. [online] Entrepreneur. Available at: https://www.entrepreneur.com/article/286778 [Accessed 4 Sep. 2019].

Spotify.com. (2019). Music for everyone.. [online] Available at: https://www.spotify.com/us/about-us/contact/ [Accessed 3 Sep. 2019].

What are financial institutions?

Financial institutions also known as banking institutions are corporations that provide services as intermediaries of financial markets. Know when you think of financial institutions and social media it doesn’t sound like a good mix, but in fact social media plays a big role in terms of communicating with their customers and stakeholders. By using the SMMF (Social Media Marketing Framework) I can help you show and interpret what is happening in the financial services industry in terms of its social media (Chaffey & Ellis-Chadwick, 2019).

As you know there is four main dimensions within the SMMF these consists of:

1. Scope
2. Culture
3. Structure
4. Governance

Scope:

Majority of financial institutions nowadays use social media to communicate to their clients and customers, with social media as a platform of communication customers can report or solve problems, give reviews or comments. With the scope dimension there are two ways of going about it.

1. Defender – using social media to connect with clients and customers.
2. Explorer – to explore within the financial service and Collab with consumers and other brands to formulate better service.

For Example: Commonwealth Bank is an explorer as they are now teaming up with other social media outlets to engage with customers and provide a better service towards their clients and stakeholders.

Culture:

Financial institutions nowadays aren’t mainly focused about posting just financial products, they are more focused about getting more customers whether that is through traditional marketing strategies or through social media marketing. As we all get sick and tired of seeing home loan posts, interest rates or starting up new bank accounts. Majority of the banks like ANZ, Commonwealth, NAB, Westpac and more are now focusing on creating a better environment not entirely based on financial services but more about making their client feels safer and better with their current banks.

Structure:

Financial institutions in today’s society have centralised control in terms of their social media (Chaffey & Ellis-Chadwick, 2019). With the banks having a very strict and strategic set of guidelines and rules that come into play with their social media content. This makes it easier for the social media marketing team in order to let them know that there will be no risky content on the institution’s social media feeds and pages. In terms of the company’s goals I’m sure and assume that they would have a social media team which would produce the banks social media content which would be strictly focused on engaging with customers, and growing the financial status of the bank and have a strong relationship between customers and the institution.

Governance:

Governance in terms of the social media marketing framework is how the institution establishes the company’s rules and guidelines for the use of their social media outlets and pages (Felix et al, 2016). In this case there are two sub-categories for whether the governance is either autocracy or anarchy. Personally, I think in terms of financial banking services such as, Commonwealth, ANZ, NAB and Westpac there is both anarchy and autocracy as the banks are all engaging with their customers and clients on social media posts, although this is done in a formal manner to keep the institutions reputation up. For example, some of the rules would be not posting photos in work clothes online or, no abusive comments.

So in conclusion, using the SMMF (Social Media Marketing Framework) I have shown you how using SMMF can help financial institutions connect and can be beneficial to the growth of a company or business.

References

Anz.com.au. (2019). ANZ Personal Banking | Accounts, credit cards, loans, insurance | ANZ. [online] Available at: https://www.anz.com.au/personal/ [Accessed 28 Aug. 2019].

Commbank.com.au. (2019). Stay in touch with us on Social – CommBank.

Available at: https://www.commbank.com.au/support/social-networks.html [Accessed 28 Aug. 2019].

Chaffey, D. & Ellis-Chadwick, F. (2019). Digital Marketing: Strategy, Implementation and Practice. United Kingdom: Pearson.

Felix, R., Rauschnabel, P. A. & Hinsch, C. (2016). Elements of strategic social media marketing: A holistic framework. Journal of Business Research, 70(1), 118-126.

Nab.com.au. (2019). stay in touch with social media. [online] Available at: https://www.nab.com.au/contact-us/stay-in-touch-with-social-media [Accessed 28 Aug. 2019].

Who is Kylie Jenner?

Kylie Jenner is an American media businesswomen and model who has also achieved a massive ground-breaking milestone of being a billionaire at the age of 21 years old. Kylie Jenner a huge role model for the young teens and older adults as she has her own business, which most of you have heard Kylie cosmetics. The business as of March 2019 was valued at $900 million dollars making her personal net worth at $1 billion. Kylie’s brand and products are very popular, and their stock is very limited which makes it harder to buy. Using the SMMF (Social Media Marketing Framework) we will analyse the business Kylie Cosmetics by using several dimensions.

The Social Media Marketing Framework Is a holistic way to consider the strategic application of social media (Felix et al., 2016; Chaffey & Ellis-Chadwick, 2019). This framework has four dimensions which will be focusing on which are:

1. Scope
2. Culture
3. Structure
4. Governance

Scope:

This dimension refers to how social media platforms are used in one way, which either provides content to entertain the consumers or to inform users. Within the scope you’re either a defender or an explorer. Either of these can be justified depending on what your social media strategy or goals are (Chaffey & Ellis-Chadwick, 2019).

In this case the Kylie Jenner and her cosmetic brand focus on the encouragement of her brand from her consumers to appreciate and love the overall brand. By doing this she uses the phrase of #KylieCosmetics which is really easy for consumers to follow and share the love. Kylie Jenner herself is the image and face of Kylie Cosmetics and has serious power when it comes to the terms of social media communication as she has a mass following of 145 million Instagram followers which allows her to communicate her brand very easily. This allows her audience to be organised and easily target within a specific category.

Culture:

This dimension differentiates between the use of social media as a mass marketing channel or a more modernist approach (Chaffey & Ellis-Chadwick, 2019).

Kylie has such a big audience in terms of social media this is how she informs her customers whenever there is a new limited product launch, she promotes her brand on her social media outlets and also with her collaboration deals such as adidas and Quay Australia. Kylie takes control and presents her, and her brand is a truthful and authentic way. By her using digital marketing strategies and not the general marketing, she was able to create one of the most powerful online presence which has positive growth and effective means in terms of getting her brand awareness out to the media world. Therefore, she is the category of modernism in terms of having great marketing strategies but also has a huge mass marketing channel approach.

Structure:

In terms of this dimension it looks at organisation and how social media is deployed, whether it is centralised control or clearly defined or whether it is decentralised and the responsibility of all employees. In this dimension it is dived into two sub-categories which are networks and hierarchies (Chaffey & Ellis-Chadwick, 2019).

Kylie Jenner’s brand in my opinion seems that she has a hierarchal approach which means she has a specific staff working for her as she is so big with the industry of makeup and cosmetics. In saying this Kylie also directly engages with consumers and followers herself with her main Instagram, but the Kylie cosmetics page is mostly likely run by her team, which then encourages her customer to #KylieCosmetics in the caption.

Governance:  

This dimension relates to company rules and what to extent employees are told what they can and cannot say on social media platforms. In this dimension it is broken up as well to two categories of autocracy and anarchy (Chaffey & Ellis-Chadwick, 2019).

Kylie Jenner has always had a presence in the world of social media ever since she was on the massive Tv show keeping up with the Kardashians with her sisters and family. Since then she has been a very active user in the means of social media, she posts pictures on her Instagram wall using her products as she promotes it. she is also known for her personal opinion posts on twitter to influence her audience as well. For other businesses and companies this would be strictly prohibited depending on the brands rules and regulations. so in general I would consider that she is more towards the autocracy as she a lot of the power for her brand and consumers, but in terms of the encouragement of Kylie telling her customers and followers to share and embrace themselves with cosmetics and beauty this leans towards anarchy as well.

In conclusion Kylie Jenner is an overall influencer to the young generations of teens and adults and is very big in the social media world in terms of such a great businesswomen figure and role model.

References

Aol.com. (2019). AOL is now a part of Oath. [online] Available at: https://www.aol.com/article/finance/2017/08/09/kylie-jenner-s-kylie-cosmetics-on-way-to-becoming-1b-brand/23072512/ [Accessed 26 Aug. 2019].

Chaffey, D. & Ellis-Chadwick, F. (2019). Digital Marketing: Strategy, Implementation and Practice. United Kingdom: Pearson.

Felix, R., Rauschnabel, P. A. & Hinsch, C. (2016). Elements of strategic social media marketing: A holistic framework. Journal of Business Research, 70(1), 118-126.

Kylie Jenner [@kyliejenner]. (2019b). Instagram profile. Retrieved from: https://www.instagram.com/kyliejenner/

Msn.com. (2019). How Kylie Jenner became the world’s youngest self-made billionaire at 21. [online] Available at: https://www.msn.com/en-us/money/markets/how-kylie-jenner-became-the-worlds-youngest-self-made-billionaire-at-21/ar-BBUpI5H [Accessed 27 Aug. 2019].

Nast, C. (2019). Kylie Jenner Built a Business Empire out of Lip Kits and Fan Worship. [online] Vanity Fair. Available at: https://www.vanityfair.com/style/2016/10/kylie-jenner-lip-kits-seed-beauty-colourpop [Accessed 28 Aug. 2019].

#Producer #Specialtalent #2019

What is a customer online experience ?

In general, when you ask someone on what a customer online experience is, generally the most common answer is browsing the internet for a particular product, finding the product on an online store and purchasing the item. But a customer online experience is much more in-depth as it comes down to involvement of the online store and the interacting between the consumers and the suppliers of the product.

To summarise what a customer online experience is: the result of an association between an online organisation or business and a shopper over a term of the regular relationship. This online interaction is made up of parts which are: the customer journey, the brand points in terms of the customer and their interaction and the online environment that the customer experiences throughout the journey of the company’s website or purchase (Forbes.com, 2019).

The framework shown in the figure above is a diagram which is focused on customer online experience. I’m sure a lot of people will look at this framework and might not exactly understand it. So personally I will use the framework elements prescribed from Rose and Hair’s diagram to show you how the elements intertwine with my personal customer online experience with ASOS (www.Asos.com) as I tend to be a lot of clothes.

Within the Rose and Hair Framework there is 8 antecedent’s and I will personally break each of them down in terms of my online customer experience in compliance of ASOS.com

Information Processing (IP) – This is the process of buyers comprehending the information of a particular product that either the customer has seen or personally likes (Chaffey, Ellis-Chadwick 2019). This is based off the cognitive affective elements of thoughts and feelings. Personally, when I am online shopping, I normally check my social media outlets in terms of cloth stores and designs to see if I like any of the design for example Shirts whether it has the colour I am looking for or a particular brand. I always result to the ASOS online store to see their new season of clothing, as I see recent posts on either Facebook, or Instagram which attract me to go on their website.

Perceived Ease of use – In terms of ASOS it is generally easy to access their store as you can easily swipe up on their Instagram stories or click on their Ads on Facebook which directly takes you to their online website or phone App (if you’re on your phone). The website and phone are extremely easy to use as you can scroll and click on subcategories which takes you to your point of interest on the store’s website

Perceived Benefits – ASOS provided student discounts whether you’re a high school student or a university student, which can help narrow your future product down in price. ASOS also has free shipping when your product or item is over a certain amount as well which makes me as a customer a lot happier because you don’t have to pay for shipping if you buy a lot like me (Chaffey, Ellis-Chadwick 2019).

Perceived Control – generally perceived control can relate to the consumers personal choice in whether the customer is making the right choice or not it all comes down to self-confidence (Nataraajan and Angur, 2019). If the consumer is generally confident in terms of size and online shopping, they will not a problem buying items online. As ASOS is an online store only, they target the use of either their website or smartphones to get in contact of their customers, their clothing is aimed for young adults who are digitally capable of buying products online.

Skill – As I tend to use ASOS quite often the more I use and shop on ASOS the more I get comfortable with the online environment; this means it will be easier to search for your desired product.

Trust Propensity – ASOS overall has a very large consumer target market and is a very well trusted site. In terms of delivering, they always either deliver your item before the estimated date or on the estimated date, feedback is a quality service that ASOS induces when customer have order or are just viewing the website, the ASOS online store is always looking for ways to improve their great service.  

Perceived Risk – when seeking for new online shopping sites/stores there is always the thought of whether the site is real or authentic. As consumers we all tend to check whether the sites shown online are trustworthy. Since ASOS is a large consumer base, I would personally hear word of mouth whether the site is legitimate, and you can even go their website to check. The risk of theft or fraudulency on this website is very low. ASOS is a well trusted website with guaranteed refund policies and well-protected payment encryptions. I am generally always cautious of shopping online just because of the scary stories that you hear on the news or that has happened to previous customers.

Enjoyment – personally I have thoroughly had positive online experiences with ASOS even if I don’t buy anything, the website is very easy to use and is well known as I’ve seen some of my friends post and tag ASOS in there personally photos by letting the public consumer bases know that they produce quality clothing items which are authentic and for good prices.

Experience in the Rose and Hair’s Framework comes after the antecedents, these are focused on the behaviours of your online purchasing experience.

Cognitive State: is the mental state of one’s self, in terms of an online customer experience the cognitive process is reflected during the thoughts and feelings of potentially buying the overall desired item you are originally shopping for (Vocabulary.com, 2019). When I am thinking about the product that I want I normally go into a state of thought to think to myself on whether I really need this product. Generally, I always tell myself that I need the product and that I can use the product for more than just one purpose.

Affective State: whenever I finally purchase a product online I genuinely feel happy and excited for the product to come, but sometimes there’s always my personal doubt as to whether I just wasted money on buying the item or product, but generally I’m always happy when purchasing items over ASOS. Personally, I always get excited when I scroll through ASOS or just social media because it makes me happy that there is a lot of diversity which gives me such a good feeling.

Consequence then comes after the experience stage in the framework by Rose and Hair. This is broken down into two categories of customer satisfaction and Re-purchase intention.

Customer Satisfaction: As a regular customer of ASOS I always feel satisfied in terms of the whole customer experience which comes down to where I see the product at the start of my experience all the way down to when the product is delivered to my door. I also enjoy scrolling through their social media pages on Instagram and Facebook which keeps me updated.

Re-purchase Intention: So, in terms of my first purchase from ASOS at the start of 2018 I have become such a loyal customer and have the need to always buy more products and clothing items from there store as I have developed a well and strong relationship with ASOS.com. I also now recommend a lot of my friends to try and use ASOS as I think it is a great online store.

In conclusion I have evaluated my customer online experience through the Rose and Hair’s framework and elements as a positive experience. But for my audience out there online have you ever encountered a negative customer online experience and if so, how would that be different, and would there be a different framework for it?

References

ASOS. (2019). ASOS | Online Shopping for the Latest Clothes & Fashion. [online] Available at: https://www.asos.com/ [Accessed 21 Aug. 2019].

Day BUY Day. (2019). The Components of Consumer Information Processing. [online] Available at: https://daybuydayblog.wordpress.com/2016/04/21/components-of-consumer-information-processing/ [Accessed 22 Aug. 2019].

En.wikipedia.org. (2019). Customer experience. [online] Available at: https://en.wikipedia.org/wiki/Customer_experience [Accessed 20 Aug. 2019].

Forbes.com. (2019). What Is Customer Experience?. [online] Available at: https://www.forbes.com/sites/blakemorgan/2017/04/20/what-is-customer-experience-2/#56a5f72770c2 [Accessed 21 Aug. 2019].

Liferay.com. (2019). What is Digital Customer Experience? | Liferay. [online] Available at: https://www.liferay.com/en-AU/web/guest/resources/l/digital-customer-experience [Accessed 20 Aug. 2019].

Nataraajan, R. and Angur, M. (2019). Perceived Control in Consumer Choice: a Closer Look. [online] Acrwebsite.org. Available at: https://www.acrwebsite.org/search/view-conference-proceedings.aspx?Id=11715 [Accessed 22 Aug. 2019].

Vocabulary.com. (2019). cognitive state – Dictionary Definition. [online] Available at: https://www.vocabulary.com/dictionary/cognitive%20state [Accessed 22 Aug. 2019].

Chaffey, D & Ellis-Chadwick, F 2019, Digital Marketing, 7th edn, Pearson Education Limited, 

Chaffey, D & Ellis-Chadwick, F 2016, Digital Marketing, 6th edn, Pearson Education Limited, Harlow

Rose, S, Clark, M, Samouel, P & Hair, N 2012, ‘Online Customer Experience in e-Retailing: An empirical model of Antecedents and Outcomes’, Journal of Retailing, vol. 88, no. 2, pp. 308-322, viewed 22 August 2019, < https://doi.org/10.1016/j.jretai.2012.03.001 >

The eBay marketplace is outstanding for its centre administration, which empowers venders to list things available to be purchased on a closeout or a fixed-value premise, giving customers and numerous purchasers the alternative to offer and buy things of intrigue (Chaffey & Ellis-Chadwick 2019).

eBay’s objectives and Strategy:

the overall aim for eBay is to increase the gross merchandise volume and net revenues from the eBay marketplace. There defined aims are:

1. Acquisition – which is aiming to increase the number of new registered member and users on the eBay marketplace. (Chaffey & Ellis-Chadwick 2019). Some of eBay’s acquisitions were: Skype, Paypal, Craigslist and more (Business dictionary, 2019).
2. Activation – aiming to target the new users of the eBay marketplace to increase users who become bidders, buyers or sellers (Chaffey & Ellis-Chadwick 2019).
3. Activity – which is focusing on increasing more transactions through the eBay marketplace  (Chaffey & Ellis-Chadwick 2019).

By having these objectives and strategies it will increase the company’s overall reputation as they have straight forward business goals that the eBay business can oblige by.

eBay’s growth Strategy:

eBay’s main focus to grow as a company was to:

• Ability to attract buyers and sellers
• Volume of transactions and price selection of goods
• Customer service
• Brand recognition

eBay’s growth strategy is focussed on reinvesting in our customers by improving the buyer experience and seller economics by enhancing their products and service towards customers. As well as improving customer safety and implementing innovative pricing  (Chaffey & Ellis-Chadwick 2019).

In terms of eBay’s security over online transactions, the online business has now evolved their security systems with a trust and safety program. they did this to fix there previous issues of fraud and scams within the online marketplace. with this trust and safety program it helps customers and potential buyers help and justify if trustworthy buyers and sellers by providing qualification whenever a transaction or purchase takes place.

With these objectives, main focuses and strategies eBay was able to evolve with online propositioning and achieve a well popular and flowing online shopping marketplace.

References:

eBay Impact 2018 Progress Update. (2018). [pdf] Available at: https://static.ebayinc.com/assets/Uploads/Documents/eBay-Impact-2018-Progress-Update.pdf [Accessed 12 Aug. 2019]. 

Fierro, I., Arbelaez, D. and Gavilanez, J. (2019). Digital Marketing: a New Tool for International Education. [online] Available at: https://search-proquest-com.ezproxy.canberra.edu.au/docview/1984527647?rfr_id=info%3Axri%2Fsid%3Aprimo 

[Accessed 13 Aug. 2019]. 

eBay Fast Facts. (2019). [pdf] Available at: https://static.ebayinc.com/assets/Uploads/PressRoom/eBay-Q22019-FastFacts.pdf [Accessed 11 Aug. 2019]. 

The internet, the web and digital media are three main categories which have changed and transformed the overall topic of marketing. With over 3 billion people around the world regularly searching and using the web to find new unique products to either better personal business or just for customer satisfaction (Chaffey & Ellis-Chadwick, 2016, p.11).

Digital Marketing is the showcasing of items or services utilising computerised technologies, predominantly on the Internet, yet in addition including cell phones, show publicising, and some other digital techniques. Digital showcasing channels are frameworks dependent on the web that can make, quicken, and transmit item an incentive from producers to the targeted customers by advanced systems (Investopedia, 2019).

References:

Chaffey, D. and Ellis-Chadwick, F. (2019). Digital marketing. 7th ed. Harlow: Pearson. 

Chaffey, D. & Ellis-Chadwick, F., 2016. Digital Marketing: Strategy, Implementation and Practice. 6th ed. Harlow: Pearson Education Limited.

Investopedia. (2019). Digital Marketing. [online] Available at: https://www.investopedia.com/terms/d/digital-marketing.asp [Accessed 14 Aug. 2019].