The Concept of the Digital Marketing

The Concept of the Digital Marketing Digital marketing is the very innovative and novel concept in the 21st century. Through this form of media products and services are promoted with the use of database-driven online distribution channels to reach consumers in an appropriate, significant, individual, and lucrative manner. The term digital marketing has not any specific definition or meaning but it can be well explained with the examples such as emails, online advertisements, pay per clicks, wireless text messages, instant messages, RSS, blogging, fax, video streams, podcasting, broadcast, etc. All these examples are included in the definition of digital marketing. Apart from its inclusive list, there are few traditional forms of marketing which are not included in the term of digital marketing. They are TV, radio, print and billboard as they are not the instant or quick forms of marketing. It means with these forms of marketing the advertiser could not get the immediate response from the end consumers. The traditional forms of marketing could not give the accurate number of responders. Perhaps, there is a little improvement has achieved with the devices such as TiVo which records the statistics like website but, still the desirable result has not gained. Nevertheless, this became possible with the introduction of digital marketing. Digital marketing has become so powerful network of advertising, that with the introduction of Double click strategy of Google for internet, the world has become very close linking to each and every place conveniently. With the help of digital marketing, campaigns for promoting any product through internet has become very cost-effective and convenient. With the feature digital technology, in digital marketing, the advertiser easily comes to know how many times and how long the campaign has been showed on internet, also it comes to know how many people have seen this campaign, how many responses have received, and how many purchases have been made though online mode. With this fast-end technology, marketing of any particular products becomes easier, the consumers convenience become possible and the organization makes huge profits, too. The improved versions of these digital marketing are broadband internet, Wi-Fi network, and mobile phone access. The usage of these techniques has drastically increased, worldwide. The web usage has increased 10% all over the world, from January 09 to January 10, as per the recent report. The attitude of management has changed. From traditional form of advertising, they have shifted to the digital marketing. Billions of dollars have been spent by organizations on digital marketing for promotion of their ad campaigns. They are taking huge benefits out of digital marketing and earning high revenues. Critical analysis of audit findings, using relevant diagrams and appropriate models to support analysis From the audit it is found that AECOM has considered for brand repositioning for its short term marketing project through digital marketing with Yahoo! Answers. But, AECOM has not considered any particular brand repositioning strategy for that. AECOM needs to consider the proper brand repositioning strategy for successful results in digital marketing. The strategy for AECOM can be New Logo and Tagline. AECOM is into financial and management services over the last 20 years but, during that period AECOM has not considered for brand repositioning. Now, if it has decided for it, then the best strategy for AECOM is new logo and tagline. AECOM should come up with new taglines such as Finest Service Provider, or Services Delivered. Anywhere. Anytime., or Leaders in Service Delivery. Along with its tagline, AECOM also can change its logo. By adopting any of the tagline, the scenario of consumers may change and consumers feel free to contact AECOM at any point of time. The tagline itself shou ld look so attractive that more and more consumers can be fascinated towards AECOMs services. Apart from this, AECOM has considered Yahoo Answers for its digital marketing promo. But, in the market there are various digital marketing services providers are available such as Google, Hotmail, Face book, You Tube, etc. The cost of services of all these service providers should also be considered, the quality of their services should be checked, the further discounts in finalizing the particular services should be checked and only after that the decision should be taken whether the particular service provider is economic in cost or not. AECOM should have to consider Face book for undertaking digital marketing project for brand repositioning. Over 400 millions of users the website has over socialized. AECOM could be able to take benefit out of it in fascinating more consumers towards its brand. The below diagram shows that the use of Face book has increased to that extent, if any company selects this digital marketing media for promo then definitely it will remain beneficial from the view point of growth, development, revenue, publicity, and of course profits. Facebook The use of social media for digital marketing is more compared to other websites which can be proved with the following diagram. If AECOM could have undertaken the brand repositioning through social media digital marketing, then the chances of its promo would be higher compared to Yahoo! Answers. AECOM is specifically into financial and management services to valued consumers. For further growth and development purposes, AECOM should consider the policy of diversification into new business segments such as AECOM should enter the new business of aviation industries or automobile industry for manufacturing of luxurious cars. A business case, with justification, including a cost benefit analysis, for the short term marketing project and show how the marketing project will support the delivery of the organizations marketing strategy Even though, AECOM is on number one position in providing financial services and management services to consumers, to survive in a huge market competition, brand repositioning of AECOM through innovation and technology via digital marketing is must. To maintain the market share and its position in the market, AECOM needs to consider brand repositioning. But, along with brand repositioning, the fear of high costs and high risks are increased with launching of new brand. As per Biel, brand positioning is building or (rebuilding) an image for a brand. Brand repositioning is nothing but managing the existing brand in better and advanced ways. Repositioning helps in introducing new opportunities and market changes. While going with the brand repositioning, there are certain risks factors which need to be considered. While brand repositioning, there is a high risk of losing trustworthiness and consistency of consumers. Because, it may become possible that many consumers are not aware of brand repositioning strategy of a company. During the period, if any consumer contacts through website, and the logo, tagline, advertisement, etc. changes, then consumers fall in the twisted atmosphere whether to contact or not. As per few analysts, the successful brand repositioning is impossible because during the repositioning period, most of the loyal consumers shift to other brands. The basic aim of brand repositioning is safeguarding and improving brand equity to un derstand the better vibrant of it. Repositioning of brand is modification of something which already exists in the market and the minds of consumers. Brand repositioning represents uniqueness in the companys existing products and services. Repositioning strategy exist in three stages known as introductory stage, elaboration stage, and fortification stage. The stages can be explained in the below diagram: Diagram 1: Stages in brand strategy development Selecting Appropriate Marketing mix Establishing the Brand proposition Rolling out the Strategy Introductory Stage Elaboration Stage Fortification Stage Modifying the Proposition Repositioning Updating the personality Repositioning helps in moving the organization to a newer and more attractive position than before. The objective of this movement depends from organization to organization. It differs particularly for the sake of understanding what the company wants to achieve. In case of AECOM, the company wants to become innovative in terms of technology and designing to the extent possible compared to its competitors. The brand positioning helps company in taking to the higher position than before. This can be explained with below diagram: Diagram 2: The principle of repositioning New Position Price Previous Position Experienced quality As the organization shifts to new position after brand repositioning, the company tries to meet the new demands of consumers, newer and stronger arguments of consumers by convincing them to stay as loyal. To achieve the benefits out of brand repositioning such as better value, relevant status in the market, great image, updated personality, etc. AECOM needs to undertake a four-phased brand repositioning approach which is as follows; Phase 1: Determining the current status of the brand Phase 2: What does the Brand stand for today? Phase 3: Developing the brand positioning platforms Phase 4: Refining the brand positioning and management presentation. Now, combining this repositioning strategy with digital marketing approach, the more accurate results will be delivered for AECOM. For this purpose, the Yahoo! Answers should reach beyond its pure online territory and initiate this conversation. For digital marketing of AECOMs brand repositioning campaign on Yahoo!, AECOM should conduct the following activities: Stage 1: On-ground video shoot of consumers At this stage, AECOM should visit major 3 countries UAE, USA, and UK. The campaign should be conducted for three days in each of the countries at well-known places asking questions to consumers about AECOMs brand repositioning event. While conducting this event, 5 questions to be asked to all respondents provided by the AECOM. All the answers to the above questions should be captured on the video and must post to the Yahoo! Answer. The response to the event will show that, whether AECOM has got tremendous response than expected or not and the target is achieved properly or not. Stage 2: Posting all the responses on Yahoo! The second stage in digital marketing for AECOM brand repositioning campaign is posting the responses on Yahoo! Answers. Accordingly, the top 50 answers from the list should be uploaded on Yahoo! Answers with AECOM brand. On each page total 10 answers to be displayed with AECOM promotional video. This can make it possible that users or consumers may watch the video responses posted on the website or answer the questions themselves which can foster more responses in the future. Stage 3: Promoting all the responses on Yahoo! All the questions selected should be posted on Yahoo! Answers for more promotion and advertising to create awareness amongst consumers about AECOMs brand repositioning strategy. For this promotion through digital media networking AECOM may get huge response. The strategy can be used here by AECOM and Yahoo!, is for every response to an answer the promo will be added more for 12 minutes which is the highest time given by Yahoo! Other than these responses, the other creative promos can also be added by AECOM on Yahoo! These creative promos include The promo of AECOMs featured services on Yahoo! Homepage The promo of AECOMs video answers on Yahoo! Homepage These promos are covered not only on Yahoo! Homepage but also on Messengers, E-mails, Answers and Groups. Stage 4: Invite maximum users to give their views and ask questions related to the AECOMs brand repositioning. The final stage in successful digital marketing campaign of AECOMs brand repositioning with Yahoo!, is invitation to maximum users to give their views about AECOMs financial and management services to others or those who are not aware about AECOM. Also, this stage includes the questions about AECOMs brand repositioning. The trusted consumers those have queries why AECOM is carrying brand repositioning, they can post the related questions on Yahoo!, and they may get the reasonable answers to their questions by responsible management team of AECOM through Yahoo! Answers. Accordingly, the promo of AECOMs brand repositioning can be conducted successfully via Yahoo! Answers with the expected unbelievable result. Cost-benefit analysis for the short term marketing project The cost-benefit analysis for AECOMs brand repositioning campaign in the context of digital marketing through Yahoo! Answers is highly depends upon the expected benefits out of it over its cost. Cost-benefit analysis (COBA) is a technique where the assessment of monetary social costs and benefits of any specified capital project is conducted over a given period of time. In case of this short term marketing project of AECOMs brand repositioning, if the benefits out of digital marketing are expected to be huge then the project is beneficial for AECOM and vice versa. For this purpose, the basic principles of COBA are required to understand which are as follows: Appraisal of a project For conducting cost-benefit analysis for any project, its evaluation is must. COBA is an economic technique for project appraisal. Incorporates externalities into the equation This characteristic of COBA invites for the social as well as private economic costs and benefits of the projects. It also measures the social welfare of the investment. Value of Time Time is very important factor while undertaking COBA analysis. The economy of time is considered in the future of the project. Uses of COBA : COBA is traditionally being used only for big public sector projects such as water, dams, railways, bridges, by-passers, new motorways, tunnels, power-stations, flood relief schemes, etc. But, now the scenario has changed and COBA has been applied to small projects, to public health programs, in reduction of long-term unemployment, to understand the cost or benefits in new business deals, etc. The main aim of conducting COBA is whether the project leads to an increase in social benefits in future or not. If the answer is Yes then the result of COBA is positive and vice versa. Main steps in calculating COBA Approach: Step1 (a): Calculation of social costs and benefits: In this step, the social costs and benefits include all the direct and indirect costs, expenditures, profits, and gains. It involves all the significant costs. Step1 (b): Sensitivity analysis of events occurring: In this step it is to be marked that how much is the profit and cost involved in particular transaction and what is the outcome of it? If it will occur what is the scale of uncertainty about the actual values of the costs and benefits? Step 2: Discounting the future value of benefits: The next step involved in COBA is discounting of future benefits. Since the benefits are enjoyed in present, the future value of it is discounted over a period of time. Step 3: Comparing the costs and benefits: This step helps to understand the net returns on investment. Step 4: Comparing net rate of returns: Under this step, the returns from different projects are collected and accordingly the best out of it is selected. The COBA decides about ranking to the projects on the basis of its highest expected net returns in social welfare. As per these characteristics, uses, and steps of COBA, the AECOMs brand repositioning in the context of digital marketing through Yahoo! Answers represents that the cost involved for digital marketing may be high but the expected returns is definitely more than its cost. In this project, the major cost involved is only for digital marketing, the returns are in variety of forms such as high returns and profits to AECOM, huge publicity which creates awareness about AECOM brand in the mind of diverse consumers, people come to know about the existence of AECOM and its wide-ranging services in all the possible sectors through its expert employees. Also, the time involved in digital marketing is less compared to traditional form of marketing. So, from all the view points, one point is very clear that the benefits involved in this project are expected to be very high compared to its cost. So, the results of cost-benefit analysis are positive. Based upon recommendations, an outline of project plan to effectively implement proposals with a risk management program The recommendation to AECOM in its brand repositioning of short term marketing project through digital marketing, where AECOM has considered Yahoo! Answers as strategic tool for digital marketing should be replaced by social media networking which is also a digital marketing tool. In social media marketing, AECOM can either go with Face book or can create companys own blog for publicity and advertising of its brand repositioning. The revised outline project plan for AECOM for implementing proposal of digital marketing successfully in its brand repositioning inclusive of risk management program is as follows: Objective: The objective of AECOM is successful brand repositioning for a short term marketing project through digital marketing. Vision: The vision of AECOM is to become pioneer in the delivery of financial and management services in the entire world. To attain the leadership position in the entire human resource industry also has to be the vision of AECOM. Strategic management: To achieve above objectives AECOM must utilize the complete structured approach to undertake strategic management. Nike must undertake the brand repositioning strategy of New Logo and Tagline in the context of digital marketing through social media networking of Face book or companys blogs. Digital marketing through Face book AECOM has decided the promo and publicity of its brand repositioning strategy of New Logo and Tagline through Yahoo! Answers which is very expensive compared to other social media networking websites such as Twitter, Linked in, and Face book. Maximum are the people using these social networking websites and if AECOM refers one of these websites for its promo then the outcome will be greater compared to Yahoo! Answers. Around 400 million users are using the Face book networking. The companies using social networking website for business purpose and their market share for twitter is 41%, Linked in is also 41% but for Face book it is 44% which is highest compared to others. Digital marketing through Companys blog Other than the use of Face book, company can create its own blobs and can post the questionnaire for promo and publicity purpose on AECOMs blog only. The interested consumers can get information about AECOMs activities from its blog and also if any queries can be posted directly to the blog of AECOM. The companies using own blogs for digital marketing purpose is very high with its market share 46% higher than Face book, too. Since, company has its own blog, the cost of hiring any digital marketing media also reduces. But, the limitation to this strategy is company cannot attract new consumers who are not aware of AECOM and its brand repositioning. Risk Management Program AECOMs brand repositioning marketing project through digital marketing has the risk of system failure and not meeting the business need. In such a situation, AECOM is required to design a risk management program. The risk management program for AECOM in case of system failure is recovery, back up, and disaster recovery procedures. In case of risk of not meeting business need involved then AECOM should ensure about the representatives and resources involved for good participation and collaboration from all concerned areas of business. Implementation AECOM can implement its plan of digital marketing through social media networking instead of Yahoo! Answers. By implementing this plan, AECOM can reduce its high cost and as a result, the COBA will also give the higher returns compared to digital marketing with Yahoo! AECOMs brand repositioning through digital marketing via social media networking will lead to gain higher profits and AECOM will be in a position to attract maximum consumers through social media. This option will ensure to attain AECOMs objective of market leadership in human resource industry. Conclusion It is concluded that the best strategic option for AECOM is social media networking for digital marketing and amongst it, Face book is better than companys blog because Face book may offer AECOM maximum consumers to get availed of AECOMs excellent services. Recommend, with justification, appropriate methods of effectively monitoring and measuring progress throughout the project, to ensure that it is completed on time, within budget and to specification Now days the share of marketing through digital media has increased compared to traditional media of marketing. As a result, the demand for tools for measurement of growing selection of online marketing channels has increased. Garners maturity model for Web Analytics has provided the tool for measurement of web site analytics but it has not included the social media networking and other digital marketing media. This gap has been filled by the Webtrends Digital marketing Optimization Team by providing an appropriate method for measuring the progress throughout the digital marketing project. The Digital Marketing Maturity Model (DM3) has provided the framework for measurement of any digital media marketing project. DM3 is the best model for measurement of progress of any digital marketing project. The DM3 beta measures the progress through six core areas. They are the six pillars of digital media measurement. They are as follows; 1. Measurement Strategy The first core area in measurement progress is measurement strategy. A formal measurement strategy should be placed by organization and should make sure about aligning the overall objectives of organization. This assists in meeting all the digital marketing activities to the companys bottom line and the manifestation of digital measurement becomes possible. 2. Analytics Resources and Domain Expertise The success of digital marketing analytics program become possible because of analytics resources and domain expertise. The employees of organization make it possible through their dedication towards measurement and analysis, the resources at their disposal, their capability to troubleshoot issues, and response to requests throughout the organization. 3. Data Integration and Visualization Through data integration and visualization, the effective measurement of digital marketing becomes possible. For successful measurement, organizations required to integrate the multiple sources of data to gain a more complete picture of their consumers and business. Data integration is the core chain of values between the systems. It enables organizations to generate an absolute image of their marketing efforts. Data visualization helps in arrangement and release of digital marketing facts in meeting the requirements of various groups throughout an organization. 4. Data Analysis and Insight Data Analysis skills are very important in twisting the web-based data into perceptive or organizations wants to optimize their websites and compel elegant marketing and business verdicts. Nevertheless, diverse data entail special types of analysis skills. 5. Adoption and Governance The value of digital marketing data is minimal unless the rules of digital marketing are in place to ensure its consistency and quality over time and if it helps in getting the right people at the right time throughout an organization. The training to people according to their roles is necessary for those who want know how to utilize the data. The assistance from government for managing various types of aspects in context to digital marketing programs becomes possible inclusive of change management, security, and data consistency programs. 6. Ongoing Optimization Organizations placed the data measurement processes consistently over a period of time which are ensured by ongoing optimization. The optimization opportunities are recognized and diverse iterations of sites are tested by using digital marketing data. Prior to implementation, grown-up organization extents all digital marketing channels from web sites to paid research and also includes A/B testing of multiple marketing updates. Critical assessment of the main techniques for evaluating the success or failure of the marketing project on its completion The main techniques in evaluation of success or failure of the marketing project on its completion are Critical Path Analysis (CPA) and PERT Charts. These both techniques are very powerful tools to schedule and manage the complex projects. Both the techniques were developed in 1950s and till now they are used successfully. Lets discuss these techniques in details. Critical Path Analysis (CPA) This technique helps to plan all the tasks which require to be completed as a part of project. CPA acts as a basis for beginning of program, and of resource planning. CPA helps in observing the achievement of project objectives. CPA also helps to keep a track whether any corrective action requires to be taken to get a project back on course. The benefit of using CPA within the planning process is to get assistance in developing and testing the plan to ensure whether it is vigorous or not. CPA takes care of tasks for timely completion of project. CPA also takes care which task to be delayed if at all resource requires to be modified to catch the missed tasks. CPA also helps in identification of minimum length of time for completion of project. The major drawback of CPA is, the management of tasks with time in relation to the project plans is not that easy and obvious like that with Gantt Charts. As a result the difficulty in understanding increases. The effective CPA makes the differences between the success and failure on composite projects. CPA is very useful technique for assessing the importance of problems faced during the implementation period. PERT Charts (Program Evaluation and Review Techniques) PERT is a deviation on CPA which takes a somewhat more cynical outlook of time approximations made for each project stage. To make use of PERT charts, the shortest possible time is required to estimate for each activity and also the most likely length of time is also required. Appendix Appendix A: Introduction of organization History and Background The founders of AECOM are Richard G. Newman and few employees of Ashland Inc. and about 20 years ago on 6th April, 1990; they established AECOM with the merger of five Ashland enterprises. In 2007, around 30 companies joined AECOM and it became public limited company on the New York Stock Exchange. AECOM is listed in a fortune 500 company currently ranking # 352 and provides the services of architecture, building engineering, design and planning, economics, program management, and transportation in all over the world having approximately 46000 expert employees in more than 100 countries. The revenues of AECOM are flowing in billions of dollars with $6.3 billion at the year ended 30th June, 2010. But, in 2009, AECOM introduced a new brand repositioning with the context of digital marketing. The employees of AECOM are so talented and skilled that their excellence and originality has come from the affluent history of some of the worlds premium engineering, environmental, planning, and design companies. The vision of the AECOM to make a world better place by providing services through excellent employees in the areas of transportation, energy, and water systems by developing environment properly and by creating new buildings and communities. AECOM is well-known for its professional service providing facility all over the world. AECOM has taken over many mergers and acquisitions with some of the greatest companies such as Tishman Construction, INOCSA Ingenieria, and Ellerbe Becket. The excellent expertise brought together from these companies to serve more clients in a better way. AECOM wanted to tell the truth to its clients that AECOM is the number one design firm by Engineering News-Record (ENR) magazine, a McGraw-Hill Publication and with brand repositioning in the context to digital marketing; it will establish its brand in such a way to become a market leader. Consumer Base of AECOM AECOM has consumers all over the world. Majorly, the consumers are in the America, Europe, Asia, Middle East, Africa, Australia and New Zealand. AECOM is specialized in providing the expert financial and management services to its consumers. AECOM has maintained a record in retaining the industrys most talented professionals for the ease of its consumers. Apart from these, AECOM has won various excellence awards during such a small tenure of 20 years. In 2009 itself, AECOM has won the awards like best large project, best small project, best technical innovation, best win, and so on. Not only excellence awards, AECOM has achieved CEO awards, too. This proves that AECOM is a huge enterprise with a vast consumer base of it. AECOMs position in the market AECOM stands on number one position all over the world in the services of designing among top 500 companies. It is the number one designing firm all over the world. AECOM is on top position in all the services such as pure designing, transportation, mass transit and mail, general building, government and commercial offices, and education. Only in green designs, it stands on 4th position as per ENR magazine. Range of products and services AECOM provides services in the streams of architecture, building engineering, design and planning, economics, energy, environment, government, program management, transportation, and water. In the field of architecture, AECOM provides services of interior designing, master planning plus urban designing, and renovation. In building engineering, AECOM builds the commercial and educational buildings, data centers, government, healthcare, and pharmaceutical buildings. AECOM conducts designing and planning for landscape architecture, environmental plus ecological planning, master planning plus urban designing, and strategies. In the stream of economics, AECOM facilitates services for capital planning, economic planning plus real estate, entertainment plus leisure, hotels and resorts. AECOM facilitates energy efficiency and carbon management, energy for hydropower and dams, thermal, geothermal and nuclear. AECOM also takes care of environment by providing services of air quality, environme nt health and safety management, waste services, water and natural resources, and so on. AECOM helps to government in all over the world by providing necessary services in the development and infrastructure of particular country and same alike many more services. In the field of program management, AECOM provides services of knowledge transfer, training, risk management, and web-based program management systems. AECOM takes care of