Essay Sample on Role of Advertisement

Evaluation of Sponsored Search Strategy

Despite the selling of its skinny wallets at streets fairs, retail distribution and through print advertisement, Big Skinny still faces a hard task of going the digital way. The organization is already at par above its competitors in the wallet business by adopting a more convenient and skinny wallet, but with the adoption of digital technologies, many consumers may demand goods at just a click of the button at their convenient time. Kiril Alexndrow the chief executive officer and his counterpart Catherine, the marketing director has already evaluated the consequences of going online through various strategies including display ads, Algorithmic search and sponsored search strategy (Edelman and Kominers, 2011, p. 10).

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Big Skinny should adopt the sponsored search strategy since it will permit the company to incur a relative cost as per the clicks; hence it will prove to be cost effective. Big Skinny should focus on such keywords as "wallet" as a broad match and "skinny wallet" as an exact match. Ideally, the bid should not be changed but instead maintained high to receive high rates which will eventually make the organization advertisement to be placed on top of the results page, above the algorithmic links, hence prompting more online sales.

Online Distributors

Online distributors have enhanced digital marketing through acting as an umbrella for an organization marketing concerns. Hence, Big Skinny should use online distributors. This is due to the following advantages that out-way the limitation of such a move. Online distributors facilitate the delivery over such mediums as the internet, thus overlooking the physical distribution methods like a direct sale to clients. Big Skinny will reap the benefits of using online distributors like opening an ebay.com or an Amazon store. The benefits include; reduced burden of finding customers, additional customers for skinny wallets due to the strong brand value of the distributors, handling of a huge number of transactions, mailing, and packaging of Big Skinny products. Besides, increasing the potential of Big Skinny growth and expansion (Armstrong and Kotler, 2015, p. 47). However, the associated disadvantages include security concerns and fraud that might breach the confidentiality of Big Skinny website and additional distribution costs such as planning, mailing and packing costs.

Prioritizing the Various Options of Big Skinny

Digital marketing entails strategic decision and priority for an organization in terms of cost and efficiency, and any poor decision may sink the organization. Hence Big Skinny should give priority to the sponsored advertisement, followed by interactive contents on the website, then adoption of online distributors to facilitate sales, followed by algorithmic search and lastly display ads. Therefore, Big Skinny should give less priority to the option of going the display advertisement way. The prioritization is as above due to the associated advantages and disadvantages of the options in terms of cost and efficiency (Hanson and Kalyanam, 2011, p. 411). For instance, adoption of sponsored search is cost-effective since Big Skinny will only incur cost only on clicked advertisement; unlike the display option which is associated with frequency of user ignorance to the advertisement and sold on to Big Skinny on an impression basis which necessitates the organization to pay whether or not the advertisements have been clicked.

BBVA Case

Role of Offline and Online Advertising

The advertising choices for many banks marketers have never been more versatile than of late in the modern globe. Various options exist that include offline and online advertising that is used in aiding the processes of checking accounts for customers. Online and offline advertisement plays an integral role in bringing new clients to BBVA compass through various branches, telephone, website, and direct mail. Hence making the organization closer to achieving its objective of becoming among the top ten banks in the United States. Notably, the 2010 budget allocation may seem appropriate at present for BBVA compass because offline branches are doing well than online strategy in bringing in new customers. However, with time it will not seem appropriate since many large banks like banks of America are allocating more budgets on online adverting which will no doubt flourish and may lead to BBVA customer switching (Gupta and Davies-Gavin, 2011, p. 511). Therefore BBVA should allocate and initiate the necessary strategy to promote online advertising

Steps in the Online Acquisition Process

An online acquisition is the process of convincing esteemed customers to purchase a company's products. Therefore the process involves the following steps. The first step is the identification of ideal customers. For instance, BBVA should identify new customers who need to open a new checking account. Second, is driving traffic through intergraded technologies that BBVA will use to interact with the customers (Jemison and Haspeslagh, 2014, p.103). For instance through the online organization websites. The third step is the optimization of the content. The content of the organization websites should be developed in a digital narrative of mind. The fourth step involves lead nurturing which entails developing relationships with the buyers at every stage of the sales process. The fifth stage entails improving the conversion rates of a specific cause of action and lastly is empowering the sales force. Therefore banks such as BBVA can improve online acquisition by allocating sufficient budget on the process hence customer experience will be boosted and the conversion rate

Roles Played by Display and Search Advertisement

Display advertising involves BBVA purchasing advertisement space on a website that the organization customers are likely to visit. Hence displays advertise plays an integral role in ensuring that the organizations reach a wide range of new target market through the creation of the much-needed impression. On the other hand, the paid search involves the purchase of keywords on such engines as Bing, Yahoo, and Google (Singh and Sonnenburg, 2012, p. 193). This type of advertisement plays a key role in easy identification of the services the customers might need. For example, the advertisement offers a comprehensive and specific range of words like "account" in that even if the customer were looking for something different concerning the account, the BBVA checking account would still appear, and he or she may be prompted to open a checking account. Hence the search advertising plays a role in boosting organization sales. Ideally, the 2010 budget allocation is appropriated since search, and display advertisements are paid on a cost per click basis and cost per application (CPA) respectively.

United Case

United Response to Dave Carroll's Video

Undeniably the power of social media can never and should not be underestimated. United response to Dave Carroll's video was too late since the company acted after incurring several losses on its flight business. Spending 15 months in seeking compensation about the broken guitar in which the company could have addressed within 24 hours of the incident according to their policy is not a small duration. United felt through its airline customer service representative to Carroll that, the breakage was his responsibility (Deighton and Kornfeld, 2011, p. 56). Many organizations aim is to protect their image especially on various social media platforms since the consequences are so severe that can lead to substantial financial losses. The United Airline did not handle the matter thoroughly. Such incidents ought to be handled with immediate effect, perhaps within a day to protect the image of the company and to improve the customer-organization relationship. After a year response may not be appealing due to the bad exposure of the company on YouTube.

The Idea to Propagate Through Social Media

Many people are fascinated with information in modern time especially through various social media platforms that allow information sharing across the globe at a person's convenient time. Moreover many organization and marketers have also been opportunistic to go the digital way to locate their esteemed customers since social media has proved an indispensable part of daily human life (Shirky, 2011, p. 29). Therefore for an idea to propagate on a social network it must be an experience or idea that most people have undergone or they believe to be happening. Therefore if one party shares his or her experience especially, a renowned and famous person, the idea will no doubt propagate with various likes and follower besides creating numerous comments that may have serious consequences to the target person. The process entails sharing an experience, followed by comments from another follower who also shares it among other fellows who eventually criticizes the offender (Mill, 2012, p. 168).

Handling Challenges of Social Media

No organization wants to be on the receiving end as a result of user-generated videos that may destroy its public image on social media. Therefore many organizations have been prepared to handle such challenges using various strategies. User-generated videos will always cause public speculations, and social media platforms will permit various speculations and spreading the video faster. Therefore organization should establish an effective internal protocol and hiring the right social media team that handles such instances through making and reaching out on the victims and making right in case the organization is on the fault side before the worse happens (Wright and Hinson, 2009, p. 17). Effective social media team will alert the organization on time and besides the organization should always strive to be on the law side by ethically conducting its dealings. In case of such instances involving user-generated videos streaming online organizations should come out to take responsibility and avoid Knee-jerk reactions.

References

Armstrong, G. and Kotler, P., 2015. Marketing: an introduction.

Deighton, J. and Kornfeld, L., 2011. United Breaks Guitars. Harvard Business School Publishing.Edelman, B. and Kominers, S.D., 2011. Online Marketing at Big Skinny.

Gupta, S. and Davies-Gavin, J., 2011. BBVA Compass: Marketing resource allocation. Harvard Business School Marketing Unit Case, (511-096).

Hanson, W.A., and Kalyanam, K., 2011. Principles of Internet marketing. Cincinnati: South-Western College Pub.

Jemison, D.B. and Haspeslagh, P.C., 2014. Managing acquisitions: Creating value through corporate renewal. New York:e Free.

Mills, A.J., 2012. Virality in social media: the SPIN framework. Journal of public affairs, 12(2), pp.162-169.

Shirky, C., 2011. The political power of social media: Technology, the public sphere, and political change. Foreign affairs, pp.28-41.

Singh, S. and Sonnenburg, S., 2012. Brand performances in social media. Journal of interactive marketing, 26(4), pp.189-197.

Wright, D.K. and Hinson, M.D., 2009. An updated look at the impact of social media on public relations practice. Public relations journal, 3(2), pp.1-27.