Mr. MacDonald Thomas Chief executive officer Web Consulting Company 44 Shirley Ave. West Chicago
Dear Whom It May Concern: The report is developed from the formal report developed by Web Consulting Company (WCC) on the use of social media to market and promote the company. From the report, it merged that using social media is vital when marketing and advertising products for a company to cope with generation changes, and sustain their relevancy target audience Currently, the traditional way of marketing cannot meet companies, and their clients need efficiently, that is why social media is key to reach customers. Similarly, in this report, the company is advised on how to shift from selling their products or services traditionally to digital. This model recommends the company to develop a web-based sales, as this mode will help the company to fully digitize its services as a way of reaching their market, expanding their client base, and competing effectively with other brands. This mode is therefore essential to promote the brand, retain and get new clients, that in turn will help the company compete favorably with competitors. Additionally, this mode will incorporate well with the use of social media to market the company product or services, because clients are easily connected to the online store of the company. For this reasons, I hope that this plan will be considered by the company.
Web Consulting Company
THE USE OF ONLINE RETAILING TO COPE WITH THE MARKETING GENERATION CHANGES.
Prepared by Alex Vaughan Head Consultant
The Internet has transformed how companies connect with clients, market their products and services, compete with other brands, and increase sales. Through the internet, online retailing or web bases sales is a mode of marketing that is promising to promote company marketing abilities, because the number of people shopping online is increasing every day. Currently, due to modern technology, the majority of people can access the internet. People are in a position to accessed online products and services from any company from their phones. A company transacting with customers online can reach new clients daily, because the use of social media to market their services or products, can quickly drive the clients to their online store, if their products appeal the customers, they can order from the website, and deliveries are made in time. This method, therefore, is convenience and ease online shopping regardless of the client’s location. Compared to traditional retailing, where clients will base on distance as a factor to purchase products or services.
2.0 INTRODUCTION As the world grows technologically, the use of internet has multiplied over time, an estimated of 1.6 billion people around the globe bought goods online in 2017.Similarly, in 2017 global retail sale attained 2.3 trillion dollars, and online retail sales are projected to grow to 4.8 trillion us dollars by 2021. One of the primary reasons for this disparity in growth is due to online retail stores reaching anyone with the internet. Similarly, the generation changes from baby boomer’s generation to generation x then millennials have significantly impacted on this growth. Most companies are targeting millennials when introducing new services, and products, and it is proven that most millennials subscribe to innovations, such as online retailing. As a way of remaining relevant companies have to employ online shopping to satisfy their clients, and attract new clients. 3.0 GENERATION PREFERENCE It is essential for brands to establish various cohorts that categorize clients when introducing a new venture.This generation is classified as baby boomers; comprising of individuals who were born between 1946 and 1964, persons from this category are considered as loyalists to brands, as they maintain brands, that they subscribe for a long time. Another category is the generation x, individuals born between 1965 and 1980, members in this category are affected by both traditional, and modern trends. The last group is of individuals born between 1980 and 1999, known as millennial, individuals in this category fully subscribe to current trends; this is the generation that widely uses, and understands well the internet. Therefore, companies that are introducing new ventures have to consider traits portrayed by individuals in this category. To establish their target audience needs, 4.0 INCORPORATING ONLINE RETAILING AND SOCIAL MEDIA Recent industry research confirms that social media can influence sales both online and in the store. Research asserts that 40% of all social media users have purchased items online or in-store after they came to conduct with the product or service on Facebook, Twitter or Pinterest. Companies with online stores have the upper hand when using social media to advertise their product, as this mode encourages customer engagement with the products as well as promoting the product. The following methods are fundamental for successful incorporation of social media and online marketing: 4.1 Social share As an online retailing company, it is mandatory to ensure content is shareable with social share buttons. Sharing content will not only help the brand increase awareness of the what it offers but will also provide clients opportunity to share companies content as much as improving user experience on products the company sells. When choosing social share buttons, it is vital to select social networks that matter, and are prominently used. Additionally, social follower’s buttons should be included, to increases social media following. 4.2 Social login Most clients prefer social logging to email login address when creating their accounts; therefore for a company to retain clients and ease the process of interacting with their clients, it is important to use social media sites when clients are creating their account with the brand. This method 4.5 Social video and pictures Social videos and photographs are made to be shared on social networks. Various social media platforms have a space for sharing the videos, and images of new products. When a company has a new product, the brand can post either the picture or video that explains more to clients about a product, as a results client will be eager to find more about the commodity by visiting the website. Therefore social videos are essential to tap and retain new clients Social proof Moreover, visitors are provided an opportunity trust the brand, through proofs provided by social media platforms. Social media platform such as Facebook have like box; these features show visitors that the brand is credible, as it shows how many people follow the brand, show the close friends of the new clients who have liked the page and also provides clients review on the brand. MERITS OF USING ONLINE RETAILING Online retailing is key to retailers because it helps the company to cut costs by setting up expensive retail premises as well as paying customer-facing customers. Instead, the company is in a position to concentrate on improving its marketing, and customer experience on their e-commerce site. Similarly, online retailing betters the company knowledge on customer’s needs, and work on weaknesses pointed by the client Online vending is also significant in widening the companies market, by gaining new customers, and retaining the current ones, without limiting the location where the client is. Also selling items online helps the company increase their sales and profits rapidly, because online stores are open to clients any day any time, hence clients can transact any time they wish unlike traditional retailing, where companies do not operate on certain hours of the day. DISADVANTAGES OF ONLINE RETAILING Online retailing has also it demerits, that affects companies using this method. Firstly, fraud is a significant concern in this sector, the growth of the online retail market has influenced the rise of sophisticated scammers. Moreover, Customer trust when venturing into online retailing is essential; it can be difficult to establish a trusted brand name, especially for companies that are not known by the client. Without a physical business with a track record and face-to-face interaction between customers and sales staff. Website costs when venturing into online business is also a hindering factor for retailers. Planning, designing, building, hosting, securing and maintaining a professional e-commerce website is costly especially if the company has significant, and growing sales volumes. Also, as online retailers expand their customer base to include shoppers in other countries, they also increase the difficulties in delivering their goods. In online retailing, the retailer is responsible for all deliverables, and if the customer does not receive their products immediately, it is ultimately the retailer’s responsibility to resolve the issue. Conclusion A company using the internet as a significant sauce of marketing has multiple benefits as it is cheap to open an online retail store compared to the cost of establishing a store, brands can reach customers online anywhere in the world. This mode also eases the use of social media as a way of advertising products, and services because companies can easily link the online store with the various social media platform. Besides, most customers are busy to visit retail stores, so, for them to save time they put major consideration in buying items online to save time. Recommendations For the company to succeed in online retailing, I will recommend following measure to be taken.
To earn trust the company has to set a good customers service team that will be operating online and offline, to attend to clients.
Investing in the latest security systems to protect the website and transaction processes from being altered by scammers.
Needs and trends, individuals from various generation present when interacting with a different form of marketing should be considered
Social media platforms should be used to increase the client number, win the trust of clients, and to connect with clients
Costs for regularly maintain ace of the website have to be allocated.
When using social media, the company have to consider social media sites that are widely used, and a significant number of targeted audience. APPENDIX Audience analysis MEMO Date 31/march 2018 To: McDonald Thomas From: Alex Vaughan Subject: Audience Analysis The data analyzed in this report shows how online retailing has taken a significant position in marketing. It is found that despite the fact, that using e-commerce, as a means of retailing is a productive way, it can also be challenging, but the report provides solutions for the challenges, which are bound to occur when selling commodities trough, the internet. The report also recommends effective measures, that will help companies to integrate social media platforms, and the online stores, considering most online retail get clients from social platforms. Additionally, the report provides a guide of how trends and traits from various generations affect the marketing of products and services.