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Yarntons eMarketing Plan
(NOVEMBER 2613) ( ) (Rebecca Abel ) (Yarntons eMarketing Plan) (08Fall)
Table of Contentsexecutive summary2Situation analysis3INDUSTRY OVERVIEW3COMPANY ANALYSIS4CUSTOMER ANALYSIS6COMPETITIVE ANALYSIS7SWOT9
TESTING AND ANALYSIS10FACEBOOK TESTING10GOOGLE ADWORDS TESTING11EMAIL MARKETING TESTING15
RECOMMENDED STRATEGY16CORE STRATEGY16MARKETING STRATEGIES AND SUPPORTING TACTICS16objective 1: website updates16objective 2: social media implementation and capitalization17objective 3: google adwords and search engine optimization18objective 4: phase in of email marketing19TIMELINE20MONITORS AND CONTROLS21
Yarntons is a clothing retail company that specializes in mens and womens clothing, as well as providing local school uniforms to 10 schools within Auckland. This family-run New Zealand company is known for their consistently high quality products, tailored customer service, community outreach and having a loyal customer base. However, the retailer is now looking to strengthen its online presence, with the hopes of continuing to uphold their strong reputation as the leading retailer of RM Williams leather boots.
Through an in-depth situational analysis, the retail industry, the customer base, the competitive environment, and the effectiveness of current marketing strategies have all been examined in order to identify the internal strengths and weaknesses, as well as possible external opportunities and threats. Primary research was also conducted through a series of Facebook, Google Adwords and email marketing tests in order to get a better understanding of the New Zealand retail industry and the customers who frequent it. These findings, in conjunction with our secondary research, helped to lead us in making realistic recommendations for Yarntons.
The proposed marketing plan identifies key objectives that will allow Yarntons to achieve their business goals: increase brand awareness, increase in revenue, differentiate from key competitors, and maintain its reputation as leading retailer of RM Williams merchandise. This will be accomplished through:
Addition of online store
Content and context upgrades
Search bar inclusion and customization options
Customer Relations Management Program
Social media implementation and capitalization
Continued segmentation and content creation for Facebook page
Facebook button added to website
Blogger outreach program
Google Adwords campaign and search engine optimization
Using search ads in future campaigns
Website analytics synchronization with Google Adwords
The phase in of email marketing
Seasonal promotion email advertisements
Community involvement displays through email
A proposed timeline has been set forth in order to better structure how these plans can be implemented starting in January 2014, and going until December 2014. In order to assess the effectiveness of these eMarketing efforts, a dashboard should be utilized, containing metrics that measure the connectivity of the Facebook page to the website, customer interaction through social media, and the connection between bounce rate and Adwords campaigns.
Yarntons and the New Zealand Retail Industry
The New Zealand retail industry is currently performing well with nearly 33,000 retailers across the country. This is a growing number with an increase of 9.3% of retail outlets since 2000. New Zealand retail sales are also showing an increasing trend with 2012 sales growing by 3.7% on 2011 sales (New Zealand Retailers Association, 2013). Current economic conditions are favorable to retailing in New Zealand. GDP is constantly growing at close to 3% with low inflation of 1.4%. Borrowing rates are the lowest they have been since 1990 encouraging, new businesses to open their doors (Reserve Bank of New Zealand, 2013).
Within the retail industry, Yarntons operates in the apparel retail segment. Globally, apparel retail shows growing trends with the market growing by 3.1% in 2012 to reach a total value of $1,249 billion (Marketline, 2013). This trend is reflected in New Zealand 2012 figures, which show that there are currently 3,910 clothing retail stores in New Zealand. Apparel retail sales have shown solid growth in New Zealand over the past years, with sales increasing from $1,967 million in the year 2000 to $3,545 million in 2012 (Marketline, 2013). Market reports suggest that this trend will continue into the future.
Yarntons is located in Auckland, New Zealand. This area has proportionally more apparel retail stores than any other area of New Zealand with 38.4% of retail stores and only 34% of population (New Zealand Retailers Association, 2013). Yarntons operates in 3 different areas selling mens clothing and accessories, womens clothing, and school uniforms. School uniform sales are a strong part of the business, due to the nature of the product being sold, as it will guarantee sales every year. Yarntons has established contracts with the schools it provides uniforms for, to ensure the sole rights to sell the uniform over the coming years. The Devonport menswear store has a strategic advantage in that it is the only store selling mens clothing in its town. A threat to Yarntons is the ease of purchasing clothing online. This issue is furthered with the current strength of New Zealands exchange rate. Currently 34% of New Zealanders are actively shopping online. Yarntons is behind the online shopping trend and does not have a website is which clothing can be purchased.
Another factor affecting Yarntons and the apparel retail industry in Auckland is tourism. International visitors to New Zealand have increased by approximately 3% per annum, which is desirable for Yarntons and other apparel retailers in Auckland (New Zealand Retailers Association, 2013).
Background on Yarntons
The business originated in 1945 and has been family run since. Yarntons has 3 locations across Auckland. The stores sell a range of mens and womens fashion, school uniforms and tourist clothing. Over the years, the business has generated a strong, loyal customer base. The stores have become a one stop shop for their respective towns.
Menswear has a range of clothing styles and trends. The menswear customers are typically middle aged and medium to upper income. The most important menswear supplier is RM Williams. This brand is a high quality Australian brand with a strong following in New Zealand. One of the most important items that RM Williams sell is the high quality leather boots. The phrase great quality leather boots happens to be the most searched Google term that will link to the website.
Yarntons supplies 12 schools in local areas with school uniform and uniform related accessories. This makes up a large part of the business and peaks in late January when schools commence for the year. The majority of school uniformprovided is New Zealand-made, which happens to be a strong selling point. Over the years Yarntons has developed strong relationships with these schools and as a result has contracts to be the sole provider of their uniform (which is compulsory for all students).
The Yarntons womens wear department holds a range of small suppliers suited to casual and smart-casual settings. The suppliers used by Yarntons are usually independent and provide clothing that is unique and slightly different to what is found in nearby department stores.
Social Media & Website
Up until last year, the business has not involved itself in Internet marketing, sales or social media at all. In June of last year, the business set up a website through a third party website producer. Initially the website take up was slow but has since lifted to an average of 40 visits per day. The majority of the website traffic is searching for RM Williams clothing, closely followed by searches for School uniform related items. Currently the business does not offer online sales, but instead the website encourages customers to make an enquiry about the availability of sizes and styles. Following this, a transaction can take place offline over the phone or in store. Yarntons has suggested they are interested in looking into turning the site into an e-commerce site in the coming year starting with school uniform. One reason for the reluctance to move into e-commerce is the increase in costs charged by the third party website host. Another reason is the difficult process of connecting the old point of sales system to characterize by size and style.
Up until now, the business has avoided social media. A Facebook page has recently been set up and the business is looking into the options of diversifying into other social media platforms.
Current Goals and Objectives
Yarntons currently has a strong vision for the future of the company. Their three main objectives include:
1. Generate more revenue: This will hopefully be achieved through directing traffic to its website. The current website has 1,000 hits per month. The ideal goal is to increase this by at least 500 by the end of 2013. In conjunction, the company hopes to increase website user retention. As the current return visits amount to one quarter of traffic, Yarntons hopes to increase this to one third.
2. Improve customers brand loyalty: This will be accomplished by upholding the standards of Yarntons as a family-run and local apparel company, dedicated to high quality, stylish products.