Individual Coursework of Digital Marketing Communications at Associated British Foods

Introduction of Digital Strategy for Associated British Foods Coursework

Associated British Foods is an extremely diverse group, with a variety of ingredients and food business and retail branding. The company's combined purpose is to provide protected, healthy and affordable food, and clothes that are immense value for money. The company started as a bakery in 1935. Ever since then, they have diversified and grown to become a global ingredient, food, and retail firm (Saura, et. al 2019). The company currently employ 127,000 employees and have an operation in 52 countries. The company is a diversified group planned into 5 segments and creates long-term value for its stakeholders.

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The report will be discussing the digital strategy for Associated British Foods' new flagship product and service based on 3 models Ansoff’s Growth Matrix, ‘STP’, and the Balanced Scorecard (BSc) (Hanaysha, 2022). The report will highlight on digital marketing communications campaign for the company's new product and service, clearly specifying the target audience and appropriate KPIs. It will also discuss identifying key internal and external stakeholders and their impact on the company's business strategy.

Digital Strategy

Digital marketing continue to develop in significance as individuals are expenses additional instance online and advertising budget continue to move toward digital. With so numerous opportunities in digital marketing, it is uncomplicated to get into implementation mode and just begin doing. Though, investing in the company’s business strategy is the best way to grow its digital return on investment (Correani, et. al 2020). The digital strategy group will start by influential of the experiences customers demand and work towards the back to the character and knowledge essential to meet those demands.

Ansoff growth matrix

The Ansoff framework is a planned tool designed to assist and direct the company in decisions about company growth. This matrix offers 4 planned choices for companies to choose from market infiltration, market development, product growth, and diversification.

• Market penetration: this plan is used by the company to seek development for existing goods in market where their brand, and already working.
• Market development: by implementing this strategy Associated British Foods can improve its company growth by initiating existing goods in a new market. The business must spend in research and growth to recognize potential fresh markets and buyer segment for its goods.
• When businesses seek to expand company expansion in existing markets through innovative products, it is term as product expansion. The case company can introduce development and alteration in accessible produce to present customers new and improved offerings (Sukma, al 2019).
• Diversification refer to company expansion and progress that occur when a business engages in new merchandise growth in recent markets. Diversification is significant and allows Associated British Foods to stay capable, inventive, and aggressive and in this manner enduring applicable for the customer markets.

STP (segmentation, targeting, and positioning)

The consumer analysis and progress of the segmentation strategy run equivalent. Associated British Foods can use the data and information obtained from the purchaser examination to build up the targeting, segmentation, and positioning strategies in their business operations to gain a competitive advantage by applying the best suitable digital marketing strategy.

Segmentation: Developments of the case company in digital advertising strategy require recognizing the segmentation foundation to appreciate the precise buying behavior of consumers. The expectations, requirements, and buying activities of clients are varied and depend on versatile various factor. This includes age, gender, lifestyle, income, values, and many other factors (Hall, 2020). By using the segmentation method, the company can diversify its target audience into precise and intently defined groups.

Targeting: Associated British Foods should intelligently decide the target segments whose needs and prospects match the firm's capabilities and resources. The targeting can be finished by evaluating the business's pleasant appearance and the development potential of recognized segments. The case company can prefer segments depending on the characteristics of each segment and the firm’s capabilities, resources, and growth objectives.

Positioning: Associated British Foods also requires placing a clear positioning statement that can build an optimistic image of the obtainable product in the consumer's mind. The case company can pursue the following steps to build up an efficient positioning strategy by identifying the brand image, its target market, and its competitive advantage in the market.

Balanced Scorecard (BSc)

The phrase balanced scorecard framework refers to a strategic organization performance metric implemented to recognize and develop various internal company functions and their resulting outside outcome. This framework is used as a management system and strategic planning. The case can use BSCs to communicate its accomplishment, line up the day-to-day work that everyone is doing with approach, goods and services prioritize projects and monitor and measure progress in the direction of strategic targets (Kefe, 2019). The framework suggests that the company can examine 4 diverse perspective to assist build up objectives, actions (KPIs), target, and initiative relation to those view.

• Financial: view a company’s economic performance and make use of financial resources
• Customers and other stakeholders: sight managerial presentation from the viewpoint of the consumer and stakeholders the association is designed to serve
• Internal process: view the superiority and competence of an organizational routine connected to the services, products, or further key business processes
• Organizational capability: view infrastructure, culture, human capital, technology, and another capacity that are meant to get through the performance

Digital marketing communications campaign

Integrated digital marketing encompass the idea of create a distinctive structure of appearance that is easy to recognize in all of the channel company’s customer uses (Idrysheva, et. al 2019). But integrated digital marketing also means having an apparent and distinct marketing plan.

Channels of integrated digital marketing strategy:

Organic search: the business should lead the forecast to the page that signify clearly and what the company is offering. The company can do that by being concerned with SEO (Search engine optimization) techniques, like proper use of keywords, link building, and optimization of the company website’s loading speed.

Content marketing: It is essential to focus to create powerful, useful, interactive content, with the same language the company is speaking in all the other channels (Zhu and Gao, 2019). Take into description the user knowledge as well, creating content that addresses the buyer person’s requirements and it’s engaging to read.

Paid advertising: When it comes to paid advertising, it is appealing much the same. This outlet can harmonize the others. It does not matter if the company is working with one of these: i.e.

Paid search: page that demonstrates up on top of Google results page.

Display ads: standard that communicates through visuals and manuscripts on blogs.

Social media ads: visual pieces shaped to increase on social networks.

Benefits of integrating digital marketing

When marketer integrates the meaning of communication, they can with no trouble build brand awareness by creating a reliable marketing plan which is the key to achieving a superior and quicker return on investment. Each effort will recompense the venture with more sales and outstanding results, rising revenue, and allow for speedy growth. An immense way to generate loyalty is to position the company’s brand consistently on the intelligence of the customer. An incorporated digital marketing strategy always skills the same emotion at every touch point and communication of its customer with the brand. The company can do that by uniting every channel and preparation tactic with the goal in mind, attaining all of them to work jointly to move customers further in the customer’s journey (Chaffey and Ellis-Chadwick, 2019).

Marketing campaigns

Marketing campaigns assist companies and businesses to get sales, attracting new customers and create more profits. According to reports, Associated British Foods is eager to increase its online presence, mainly in response to a number of rival businesses who have recently increased their digital expenditure. However, this technique indicates the case firm's goal to introduce a more seamless approach to its digital activity. The case company had previously hired an agency to switch digital campaigns on a product-by-product source. On its promotion agenda, the business is now collaborating with a variety of agencies. Creating and measuring the achievement of a marketing campaign involve using key performance metrics that can assist to measure the accomplishment of the campaign and medium or channel:

1. Return on investment: it is an ordinary metric that measure how much the firm invest and spent on promotion against how much they have earn back.
2. Cost per win: this measure the expenditure of every sale in opposition to the overall cost of advertising, and the firm can use it to evaluate campaign alongside each other to observe which perform better.
3. Cost per lead: it measure the efficiency of advertising campaign from a financial viewpoint, focus on the integration of lead somewhat than sales.
4. Cost per acquisition: This metric relate to new consumers, and it calculate how much it expenses to expand throughout advertising and marketing.
5. Customer life value: This metric processes the life span importance of a consumer by calculating the consumers’ standard sale quantity by how several periods they buy each year by the standard quantity of years they stay on a consumer.
6. Conversion rate: this objective completion rate, channel measure how many visitors to the firm’s website become buying consumers during a precise time frame of a campaign.
7. Website traffic: marketing campaign engage promotion on a corporation's website. The company can use total traffic data to decide how winning the website is in general and evaluate traffic numbers to previous time frames exterior of the marketing campaign.
8. Traffic by resource: this metric shows the firm where its website people come from, like direct visitors, referral links, organic visitor, and social media link.
9. Exit rate: this varies from the bounce rate for the rationale that it measure precisely where a customer missing the website, still if they snap on further than one page. This help designates where a reader lost attention.

KPI of Associated British Foods

Waste: the company has to watch closely on food waste unavoidably resulting from production process and spoilage due to storage space beyond expiry date.

Variances in raw material costs: the company needs to stay on top of all of its raw material variances to make sure that its pricing still makes intellect at the end of the day.

Variances in production costs: the production costs also may fluctuate compared to companies budgeted.

Yield per product line: those particular suppliers contribute to, the yield of the company’s product.

Margin per customer, per product, per day: raw materials and labor, but before the company paid taxes and interest.

Impact assessment

Stakeholder organization possibly is the first things that leap to intellect when the company considers the perfect digital marketer manager skill set. A digital advertising team will require to frequently putting into practice new techniques, tools, and strategy if it is going to preserve its achievement in the long term (Marques, 2021). A stakeholder is someone efficiently concerned with or affected by the company's project. Within the organisation, that considers everybody from the CEO to its customer account handlers; from the individual designing the product to the individual building it on the assembly line. The primary step in the stakeholder management procedure is listing the company’s stakeholders that include each relevant group or influential individual within Associated British Foods. This includes the board of directors, sales manager, IT team, project manager, sales team, and customer service team (Pinheiro, 2015). Stakeholders exterior of the organization that however hold an important stake in the company’s project. This includes customers into various segments, suppliers, agencies, industry bodies, and ccompetitors’, unions, and media contacts.

The next step the company needs is to plan them out in a manner that empowers the stakeholder organization process. This includes key players who have the main influence and are intensely affected necessitating considerate management. Trusted expert who have major authority and are less exaggerated can be bring on board to influence other stakeholders and passive passengers who are greatly affected but have modest influence should be kept back satisfied wherever feasible. This also includes distant cousins who are few effects and have small influence and can simply be monitored to make sure they do not turn out to be detractors (Chernatony, and Harris, 2000). Stakeholder supervision comes under people and change management, as part of the soft skills that create an absolute marketer. Customers are stakeholders too, and the company should aspire to substantiate their “buy-in” through comment consumer and collection research.

Conclusion

The report has discussed the digital strategy for Associated British Foods' innovative flagship goods and service base on 3 models Ansoff’s Growth Matrix, ‘STP’, and the Balanced Scorecard (BSc). The report has highlighted on digital marketing communications campaign for the firm’s new product and service, evidently specifying the target audience and appropriate KPIs. The report has also included the campaign's objectives, initiatives, campaign development, activities, and metrics. The report has discussed identifying key internal and external stakeholders and their impact on the company's business strategy.

References

Chaffey, D. and Ellis-Chadwick, F., 2019. Digital marketing: strategy, implementation & practice. Pearson uk.

Correani, A., De Massis, A., Frattini, F., Petruzzelli, A.M. and Natalicchio, A., 2020. Implementing a digital strategy: Learning from the experience of three digital transformation projects. California Management Review, 62(4), pp.37-56.

de Chernatony, L. and Harris, F., 2000. Developing corporate brands through considering internal and external stakeholders. Corporate Reputation Review, 3(3), pp.268-274.

Hall, S., 2020. B2B digital marketing strategy: how to use new frameworks and models to achieve growth. Kogan Page Publishers.

Hanaysha, J.R., 2022. Impact of social media marketing features on consumer's purchase decision in the fast-food industry: Brand trust as a mediator. International Journal of Information Management Data Insights, 2(2), p.100102.

Idrysheva, Z., Tovma, N., Abisheva, K.Z., Murzagulova, M. and Mergenbay, N., 2019. Marketing communications in the digital age. In E3S Web of Conferences (Vol. 135, p. 04044). EDP Sciences.

Kefe, I., 2019. The determination of performance measures by using a balanced scorecard framework. Foundations of Management, 11(1), pp.43-56.

Marques, J., 2021. Conscious Leadership: Considering Internal and External Stakeholders. Business With a Conscience, pp.3-15.

Pinheiro, R., 2015. The role of internal and external stakeholders. In Higher education in the BRICS countries (pp. 43-57). Springer, Dordrecht.

Saura, J.R., Palos-Sanchez, P.R. and Correia, M.B., 2019. Digital marketing strategies based on the e-business model: Literature review and future directions. Organizational transformation and managing innovation in the fourth industrial revolution, pp.86-103.

Sukma, D., Lubis, P.H. and Utami, S., 2019. Analysis of Marketing Strategy of Minyeuk Pret Using STP, Ansoff Matrix, and Marketing Mix.

Zhu, G. and Gao, X., 2019. Precision retail marketing strategy based on digital marketing model. Science Journal of Business and Management, 7(1), pp.33-37.