Case Analysis: Thin Healthy Wallets
Introduction:
John is interested in using Digital Marketing for increasing sales of his product line ‘Thin Healthy Wallets’. The previous advertising of his products included demonstration at public events. With increasing digital interaction and lack of physical attendance of consumers, has led him to integrate this modern marketing for his product. In the following, we will discuss different options of digital marketing and their feasibility with respect to John’s case.
On-line product demonstration:
John has realized the advantage of demonstrating live the idea of getting the thick wallet contents in the thin wallet. In order to replicate the demonstration online, the most appropriate platform is to shoot an attractive video. This video will serve as an important marketing content of almost any chosen digital marketing channel. Cost of shooting a professional demonstrational video which involves a cartoony creativity, will range to 2,000$. The likely return on this investment …show more content…
The CTR rates of Instagram are 1.5% as compared to 0.84% of Facebook (Sloane, 2015). John can advertise his Wallets pictures or a short 30 second video of conveying the core benefits of the thin healthy wallets. He can specify the demographics and interests of the targeted audience. The ad will be posted on about 6.70$ CPM plus 2 cents a view of the content (Griffith, 2015). If a video is viewed by around 15 or more people out of the 1000 then, the cost of advertising will lead to 9$. In a better optimistic view, 8 people will carry on to the site. There is a probability that one person will buy a wallet in 1000 ads in targeted audience, giving a benefit of 16.5$ and thus again a considerable amount of 7.5$ is determined as least profits. The probability of purchase is low due to 8 people leading onto the site. In any case, if no one buys the wallet then John will bear
John is interested in using Digital Marketing for increasing sales of his product line ‘Thin Healthy Wallets’. The previous advertising of his products included demonstration at public events. With increasing digital interaction and lack of physical attendance of consumers, has led him to integrate this modern marketing for his product. In the following, we will discuss different options of digital marketing and their feasibility with respect to John’s case.
On-line product demonstration:
John has realized the advantage of demonstrating live the idea of getting the thick wallet contents in the thin wallet. In order to replicate the demonstration online, the most appropriate platform is to shoot an attractive video. This video will serve as an important marketing content of almost any chosen digital marketing channel. Cost of shooting a professional demonstrational video which involves a cartoony creativity, will range to 2,000$. The likely return on this investment …show more content…
The CTR rates of Instagram are 1.5% as compared to 0.84% of Facebook (Sloane, 2015). John can advertise his Wallets pictures or a short 30 second video of conveying the core benefits of the thin healthy wallets. He can specify the demographics and interests of the targeted audience. The ad will be posted on about 6.70$ CPM plus 2 cents a view of the content (Griffith, 2015). If a video is viewed by around 15 or more people out of the 1000 then, the cost of advertising will lead to 9$. In a better optimistic view, 8 people will carry on to the site. There is a probability that one person will buy a wallet in 1000 ads in targeted audience, giving a benefit of 16.5$ and thus again a considerable amount of 7.5$ is determined as least profits. The probability of purchase is low due to 8 people leading onto the site. In any case, if no one buys the wallet then John will bear