1 Running head: ADVERTISING PLAN Advertising Plan Institution: Date: ADVERTISING PLAN 2 With the competitive business environment in the contemporary society, it has become paramount for companies to utilize viable advertising strategies. To come up with an ideal advertising strategy, a firm ought to have a clear advertising plan that serves as a blueprint for the way the company is going to advertise its products or services. This way, it becomes easy to compete in the competitive environment while remaining relevant at the same time. This paper, therefore, seeks to explore Etsy company in details. Etsy is a medium-sized company that has around four hundred and fifty employees. It is an online market company that is still growing. The chief executive officer of Etsy.com is Josh Silverman. The company was founded on 18th June 2015 in Brooklyn in the US and has since its inception established several subsidiaries such as Etsy France SAS and Trunkt LLC (Hawkins, 2016). The company operates a marketplace where individuals interact whether online or offline. The company attracts people from all walks of life and these individuals make, sell or buy goods from this platform. The firm has three service platforms which include seller tools, seller services, and education. The company is currently trying to increase the pool of its customers not only in the US but also around the world. Target Customers Etsy company targets a wide range of customers. Ideally, the firm’s consumers are from all over the world since it is an e-commerce company. Albeit its largest target of customers is women, there are also men consumers because of some male products. The customers of this company are individuals who are looking for unique and creative products such as vintage and handmade which are difficult to find in others firms. Notably, the company has more than 192 million website visits every other month. Arguably, around 54% of the aforementioned visits comes from within the US on which half of them are from consumers who use desktops while ADVERTISING PLAN 3 the other comes from people who visit the site via mobile devices (Church & Oakley, 2017). Apparently, this shows that the firm has a large number of customers and more of these consumers come from the united states of America. Additionally, there is also a larger rate of traffic for this company’s website that comes from social media platforms such as Facebook and Twitter. This shows that the company is using a mixture of ways to generate traffic. Etsy’s Products Etsy customers visit the company’s website to see a selection of goods which are difficult to find in other marketplaces. Through the website, consumers enjoy a personalized shopping experience because of interacting with Etsy sellers. Through this, it becomes easy to build a good relationship. Some of the unique products which are sold at Etsy company are Vintage, handmade, home and living products, both women and men products such as beads and craft supplies (Hawkins, 2016). On its homepage, a potential buyer needs only to type the product description that one needs into the search bar after which the product is displayed and its features and price. This makes it easy for many potential consumers with the current society where people are becoming more interested in making purchases while at the comfort of their homes. This has led to many retail companies utilizing new technology to compete globally with other firms. When it comes to buying products from Etsy, one needs not have an account because there are many payment options such as PayPal and credit/debit. To this end, the company is growing and focusing on increasing its customer pool around the world. ADVERTISING PLAN 4 References Church, E. M., & Oakley, R. L. (2017). The Role of Social Media and Product Differentiation in Etsy Micro-Manufacturing Shops. Hawkins, K. (2016). Certification, Clusters, and Creativity: An Analysis of Etsy as a Platform Firm. Name: Institution: Instructor: Date: Etsy Company Advertising plan Advertisement objectives Objectives Awareness Generate and increase market leads Improve the level of product understanding Build confidence the organization’s products Solicit more customers Increase brand recall Build the company image Educate the public Measurement Increase website visits by 30% Increase the number of leads for agents and distributors up to 13% Increase the number of video adverts by 18% Increase the number of newsletter subscriptions by 13% Increase the number of complete e-shop transactions by 43% Increase the website traffic by 17% Increase the number of submitted contact forms by 33% Increase the number of direct responses by 27% Advertising budget Item Annual cost in $ Website 10000 Fliers 200 Bill boards 5500 Search engine advertising 6000 Social networks 7500 Banners 1200 Television advertising 5700 Event sponsorship 11000 Total 47100 The objectives of this project are based on the value of increasing the overall revenues which are generated by the website. The first object aims at providing the awareness to the public. The idea is to improve the overall traffic which on the site. With more people visiting the website it earns that the products which the company aims to sale will increase. More customers mean that the company will get more revenue. The primary objective by the end is to improve the overall sales which the company receives. Any business tries to make sure that it has excellent value for money and at the same time increase its profits. More money means that the company will be able to expand the business. It is essential to understand that an increase in the overall business means the company will wither the competition. More money says the company can conduct better market research and forecasting. These are the two critical ingredients needed in any business. The whole budget has been done with cost consideration such that the company will not be at losing end. It has been created with great value and consideration on the current market conditions. The plan is designed such that it targets all potential customers from every angle. If one media fails to meet specific target, then the second or the third one will not miss. It is the plan that has been created with consideration of the prevailing market conditions. It is designed with the recent visit of the market. With the program then the company fortune will change as everything will end up expanding its position. Surname 1 Name: Institution: Instructor: Date: Advertising plan 2. The best type of advertising for Etsy Company is social media. Etsy Company is an online company which focusses on selling and buying products online. It concentrates on a wide range of customers. The website is for people whose main attention is unique and creative products such as vintage and handmade which are difficult to find in others firms. Discussed below are the reasons why social media is the best type of advertising. To begin with, social media gives the organization access to a wide range of customers. A recent study found out that 68% of the American population use Facebook. 78% of the 18-24year-olds are on Instagram, and 45% are on Twitter. This makes the social media the best platform to reach the full range of potential customers. Social media advertising helps the organization learn and understand the needs and expectations of the customers. Through social media, the customers and the marketing campaigners in the organization will be able to interact. Customers and potential customers can ask questions and seek clarifications and the marketers. Through status updates and tweets, the organization can gain insights on the daily lives of potential and target customers and their behavior. Surname 2 Social media provides a capable platform for the organization to build a relationship with the audience. Consumers view social media platforms as interacting sites not selling sites. The organization can use these platforms to inform, educate, ask and answer questions from customers hence the customers having a proper relationship with the organization. This relationship builds confidence in the customers, and this is an important marketing method. Being actively present on social media allows the organization to build brand loyalty. Being active on social media platforms enable the organization to acquire more loyal customers. Communication with the customers, creates a rapport with the customers, hence connecting with them on a personal level. This shows care and concern about the customers thus being loyal to the brand. The launch will be done one month after the advertising plan is approved by the board of directors. One month will be enough to budget, inform the public on the launch and also make the necessary arrangements for the launching day. The budget will be $12100, which will comprise of $7500 for social media sites, $1600 for the launch day’s activities and $ 3000 for miscellaneous. There is a lot expected from this advertising. By advertising, Etsy Company will be introduced to the public, and potential customers will be aware of its presence, what it is all about and how they can access products from the company. Advertising will enable Etsy Company expand its market since the message will reach both the existing customers and potential customers. Advertising will also increase the number amount of sales in for Etsy Company. Through advertising, a wide range of customers will be reached, and they will be educated on the products hence trying them out. Advertising fights competition educates the public. It also eliminates intermediaries and supports salesmanship.
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