Final Digital Strategic Plan for Chow Tai Fook
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This is the digital marketing strategy for Chow Tai Fook. It is the brand selected for study throughout the semester.
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Final Digital Strategic Plan for Chow Tai Fook
- 1. CHOW TAI FOOK DIGITAL MARKETING STRATEGY
- 2. KEY MESSAGE •Precious jewelry pieces •Outstanding quality •Product can last from generation to generation
- 3. TARGET AUDIENCES Who CTF currently targets: • The high-income class especially women who are successful in their career. • Couples in stable relationship or ready to get engaged/married. • Middle-class people
- 4. TARGET AUDIENCES (RECOMMENDED) Who CTF should also target : • Men pursuing career or a quality life • Successful men
- 5. THE BIG IDEA • In order to reach more target audiences especially in the US market, digital marketing need to be focused on strategies - to utilize the social media - to improve the effectiveness of their mobile app - to optimize Search Engine Marketing.
- 6. STRATEGIES AND RECOMMENDATIONS • Social Media In addition to the social media platforms that CTF actively performs, they should also get on Instagram and Pinterest. -Use photos and videos to advertise. -Coupon award via email if CTF gets mentioned(@) on Instagram.
- 7. STRATEGIES AND RECOMMENDATIONS • Mobile App - Available download for both iPhone and Android - Three individual apps for jewelry, wedding collections and watches collections (hard to offer full service as one app) - Recommendations: MERGE the three apps together as one app
- 8. STRATEGIES AND RECOMMENDATIONS • SEM - Keywords: "fine jewelry", "Hong Kong jeweler", "jewelry from Hong Kong”, etc. - Landing page - E.g.: ad page >>> if click >>> landing page >>> keyword links on the page Keyword links: "CTF Home", "CTF eShop", "CTF Collections" and "Sale"
- 9. BUDGET • Social media: followers on Instagram/Pinterest, numbers of like, numbers of mention and numbers of hashtag. • Mobile app: numbers of download, ranking on Apple App Store, related comments on their Facebook page. • SEM/Landing Page: CPC KPIS • Instagram - $0 • Pinterest - $0 • SEM – up to $5 every time a user clicks on CTF’s ad.
- 10. SUMMARY • The brand is successful with a large customer base internationally. • It will not be hard to grow the US market. • Its key message delivered tells customers the true value of the brand It is not just about the products, but also it is about the culture of the brand: sincerity and eternity.
Notes de l'éditeur
- The key message Chow Tai Fook tries to communicate is that their precious jewelry pieces have outstanding quality which makes the product can last from generation to generation. The key message delivered emphasize the outstanding quality of their product, and more clearly, the quality of products is good enough to last from generation to generation.
- In terms of target audiences, I will suggest that Chow Tai Fook should remain who they are targeting now: - The high-income class especially women who are successful in their career. Women can never say no to delicate precise jewelry and those who have successful career can afford to buy fine jewelry. - Couples in stable relationship or ready to get engaged/married. This specific group are targeted and Chow Tai Fook has good reputation for their diamond designs. - Middle-class people. Chow Tai Fook also carry a lot of creative designed jewelry made of silver, gold and rose gold that can satisfy customers’ needs in fashion.
- In addition to these audiences, men pursuing career and a quality life, or men who are already successful should be the target audiences as well. This type of target audiences care about their personal image and they want to look professional. Watches become a necessary accessory for them. Chow Tai Fook has a variety of quality watches including luxury collection and styles with fair price, which means that they offer lots of options for audiences to select whatever fits them the best.
- Chow Tai fook approaches to audiences using different digital tactics including its official website, social media, online advertising, mobile app and so on. The main areas focused here to improve their digital marketing in order to reach more target audiences especially in the US marketare strategies to utilize the social media and to improve the effectiveness of their mobile app. Search Engine Marketing is also a critical factor.
- Social Media - Chow Tai Fook currently performs actively on social media, and they mainly focus on Facebook, YouTube, Youku, Weibo, Tencent V-blog and Wechat. They keep an active performance on each social media, and updates newest info including introduction to new products, promotion and events about the brand several times in a weekly basis. However, as a leading trendy jeweler brand, it is surprising that Chow Tai Fook does not have an official Instagram page. Since Instagram has been gaining more and more popularity and there is increasing numbers of brands using Instagram as one of the social media platforms to advertise, Chow Tai fook really should include Instagram as one of their tactics. For example, to gain followers on Instagram and to increase consumption, Chow Tai Fook should link their Instagram account to their Facebook, YouTube and official website. For audiences who add a photo or a video of Chow Tai Fook with mentioning(@) Chow Tai Fook, they can receive a coupon of 10% off on selected styles at Chow Tai Fook's E-shop. The coupon will be sent via email that is linked to the Instagram account. As another similar social media platform that also features in videos and photos, Pinterest should also be used for online marketing as well, especially Pinterest is the second most popular social app in the US.
- Mobile App - Chow Tai Fook has also developed its own mobile app and it can be easily downloaded from Chow Tai Fook’s application website, and it works on both iPhone and Android smartphone. However, Chow Tai Fook should do some improvement on their mobile app to perform better. They developed two seperate apps for their wedding collection and watches collection. In this case, customers have to download three individual apps at the same time in order to view all their products and full services. This setting makes it more complicated for customers to form a full impression for the brand, and its also hard to do integrated marketing as one app. I recommend that they should better merge these three apps together as one complete app, which can offer full service and have all information that customers may need.
- SEM - Since Chow Tai Fook is a leading fine jewelry brand from Hong Kong. I will definitely target on keywords such as "fine jewelry", "Hong Kong jeweler", "jewelry from Hong Kong" and so on. Landing page will be another key factor contributing a successful SEM. For example, an ad page can be placed on Google result search page if customers search "Hong Kong jeweler", and the ad page should be shown at the top of the results. Once the audience click it, it will lead to the landing page containing Chow Tai Fook' logo as the page background and a big headline saying "CTF Landing Page". Different keyword links such as "CTF Home", "CTF eShop", "CTF Collections" and "Sale" are included on the page as well.
- KPIs – Metrics The expected goal is to reach 45% of target audiences in the US market in one month by focusing on using the new social media platforms (Instagram/Pinterest) and update of the integrated mobile app. - Social media: followers on Instagram/Pinterest, numbers of like, numbers of mention and numbers of hashtag. - Mobile app: numbers of download, ranking on Apple App Store, related comments on their Facebook page. - SEM/Landing Page: CPC Budget For Instagram and Pinterest, the budget should be zero since they are free to sign up, free to post photos and videos. I did a lot of research and it seems hard to define an appropriate budget for SEM. Then I consider Chow Tai Fook is a leading brand with well-awareness and good reputation, the budget on SEM is mainly paid for the brand to grow more customer in the U.S. market. I would probably offer to pay up to $5 every time a user clicks on CTF’s ad.
- Overall, The brand is successful with a large customer base internationally. I believe it would not be hard to reach more target audiences in the US market with its previous background and the recommendations provided above. I also believe that its key message delivered would tell customers the true value of the brand. It is not just about the products, but also it is about the culture of the brand: sincerity and eternity.