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Volvo Car USA: Digital Marketing Strategy
- 1. VOLVO CAR USA SCANDINAVIAN SIMPLICITY SOPHISTICATED STRATEGY 1Tuesday, April 19, 2016
- 2. Current Market? -Age 65+ -Safety-conscious -Have disposable income 2Tuesday, April 19, 2016
- 3. Target Market Generation Y Value Luxury Families 3Tuesday, April 19, 2016
- 4. Digital Strategy • Surpass competitors • Maintain current market • Appeal to new target market • Brand recognition • Ultimately increase sales • Competition • Staying up-to-date with technology • Incorporating more authentic social media strategy Goals Challenges 4Tuesday, April 19, 2016
- 5. Mobile -User-friendly -Simplified menu -Mobile website -Mobile app Social Media -Creative social media managers -Authentic posts -Encourage consumer interaction 5Tuesday, April 19, 2016
- 6. Internet Marketing • Purchase of Google Adwords Safety Luxury Millennials Family Longevity Reliability Technology Eco-friendly 6Tuesday, April 19, 2016
- 7. Internet Marketing Continued -Search engine optimization -Other paid social media advertisements -Use of hashtags -Contests and sweepstakes 7Tuesday, April 19, 2016
- 8. Implement the New Campaign • Goal: Launch new ad campaign by February ’17 • Run through July ’17 • Establish Key Performance Indicators for later evaluation • Measure the outcomes • Adjust plan and budget accordingly 8Tuesday, April 19, 2016
- 9. Budget Google Adwords (increase) -Daily: $25,000 -Feb.-July: $4.5 million Print Ads 5% New employees 9% Social/Web Marketing 52% Mobile Development 10% Google Adwords 23% Mobile Development (increase) New Employees (increase) Social Media/Internet Marketing (increase) Print Ads (decrease) -$2 million -$1.7 million -$10 million $1 million Total Budget: $19.2 Million 9Tuesday, April 19, 2016
- 10. Digital Strategy Conclusion • Maintain loyal customers • Appeal to new target market • Recruit luxury-focused buyers • Increased consumer interaction and sweepstakes • Brand recognition • Increased sales will eventually lead to increased profitability 10Tuesday, April 19, 2016