Clinton Martin

Marketing Plan Energize Natural Energy Drinks Digital Marketing Unit 2 Homework © 2020 Trilogy Education Services, a 2U, Inc. brand. All Rights Reserved. Marketing Plan: Company Overview rink D y g r e n E Energize cludes all in t a h t k drin f ew energy n a r, instead o is e t e a iz w g t r u e n n o E c . nts, like co ie d e r ide energy g v in o l r a p o t e natur fein ar and caf g u s n o g relyin flavors e v fi in s e com t currently . c u d o r p e , coconut) Th y r r e h c , e ange, lim (lemon, or : ) tributed in is d ly e id s stations a g , It is w n e v le (7-E ce stores n ie n e v n o ) ● C et, Costco g r a t ( s in a ch ● Big box stores ● Grocery 2 Marketing Plan: Market Analysis Market Size Global sales of energy drinks grew to $53.01 billion in 2018. They are forecasted to increase to $86.01 billion by 2026 Energy Drink Sales Forecast 100 75 50 25 0 2018 2020 2022 2024 2026 3 Marketing Plan: Market Analysis Societal trends that could impact changes in the market: 01 Sales of sugar-based drinks have held steady. 02 Diet drinks and flavor innovations are driving category growth. 03 Healthier options are growing market-share, especially among new growth audience groups such as women. 4 Marketing Plan: Competitive Analysis Top Competitors Strengths Weaknesses Red Bull Well known brand with longevity in market, mass distribution, large advertising budget. Ingredient list viewed as unhealthy by health conscious consumers. Monster Well known brand with longevity in market, distribution partnership with Coca-Cola, many flavors. Lower international sales; though, could change with distribution partnerships. Rockstar Well known brand with longevity in market, mass distribution, focus on active and “party” lifestyles. Growth has slowed dramatically in recent years. Emerging Competitors Strengths Bang Niche audience among bodybuilders and other workout enthusiasts, distribution at GNC and other vitamin Weaknesses Distribution limits them and questions on the true health value of product hinders their value proposition. 5 Marketing Plan: Target Audience Target audience demographics Primary target audience: Emerging target audience: ● Men between the ages of 18 and 34 years consume the most energy drinks. ● Women 25-34 for specialized brands focused on healthier ingredients. ● Nearly one-third of teens between 12 and 17 drink them regularly. ● Athletes looking for healthier options to performance drinks. 6 Marketing Plan: Target Audience Personas Greg Age: 26-year-old male Profession: Electrician Regularly buys energy drinks on the way to or from work. 7 Marketing Plan: Target Audience Personas Katie Age: 16-year-old female Profession: High School Student Regularly buys energy drinks after school. 8 Marketing Plan: Target Audience Personas Elena Age: 32-year-old female Profession: Web Developer Occasionally purchases natural energy drinks after exercise classes. 9 Marketing Plan: Objectives Write 3 broad objectives for the overall marketing plan. 1 2 3 Increase website traffic by 10%, each quarter for 3 quarters Increase direct online sales through Company website by 30% over fiscal year Increase emails, and phone number contacts by 45% over next 5 quarters (65weeks) Write 3 corresponding KPIs. 1 Website traffic 2 Website sales 3 Number of email addresses and phone numbers 10 Marketing Plan: Marketing Strategies List the marketing strategy and tactics you plan to use to meet each objective. Objective (copy this from Slide #10) 1 Increase website traffic by 10%, each quarter for 3 quarters Marketing Strategy 1 Paid google campaign (Search & Display ad) focused on mixed drinks Tactics 1 Paid SEO targeting “mixed drinks,” “healthy energy drinks,” “redbull and vodka” 11 Marketing Plan: Marketing Strategies List the marketing strategy and tactics you plan to use to meet each objective. Objective (copy this from Slide #10) 2 Increase direct online sales through Company website by 30% over fiscal year Marketing Strategy 2 Omni Channel Campaign, through paid-social-media leading directly to the website products page, YouTube content channel w/ Bartenders using our product Tactics 2 Paid Instagram, Twitter, and Tik-Tok of featured ways to mix the drink (non-alcoholic, performance enhancing) 12 Marketing Plan: Marketing Strategies List the marketing strategy and tactics you plan to use to meet each objective. Objective (copy this from Slide #10) 3 Increase emails, and phone number contacts by 45% over next 5 quarters (65weeks) Marketing Strategy 3 Capture emails and phone numbers with “no purchase necessary/while supplies last” contest, Facebook ads and company run FB Group Tactics 3 Piggyback off of tactics from previous 2 slides and enhance by “giveaway” entry in exchange for contact info 13 The Conversion Funnel Paid SEO targeting “mixed drinks,” “healthy energy drinks,” “redbull and vodka” Awareness Google ad, bounce out Ad on Facebook about contest and product Exchanges email in hopes of prize Clicked on ad to website, contest sign up Interest Consideration Omni Channel Campaign, through paid-social-media leading directly to the website products page, YouTube content channel w/ Bartenders using our product Saw ad on youtube, bounced out Saw ad on IG about Fall flavors, clicked Went to website, surveyed flavors, purchased 4 cases (organic B2B customer) Conversion Sent a thank you email, coupon code, “automatically entered for future contests!” Re-engagement 14 Marketing Plan: KPIs List the tactics from the previous slides and corresponding objective numbers. Include the KPI(s) you plan to measure for each tactic to show if your objectives are being met. Tactic Objective for Tactic KPI for Tactic 1.Paid SEO targeting “mixed drinks,” “healthy energy drinks,” “redbull and vodka” Brand Awareness Click Metrics 2. Paid Instagram, Twitter, and Tik-Tok of featured ways to mix the drink (non-alcoholic, performance enhancing) Brand Awareness Click Metrics 3A.Contest Entry Raise owned assets metrics Increase in email list 3B. Contest Entry Raise owned assets metrics Increase in owned phone numbers [List tactics from previous slides] 15 Bonus 16 Marketing Plan: Executive Summary Note: Fill in this section after all other portions of the marketing plan are complete, then move it to the second slide position in the deck. Global sales of energy drinks grew to $53.01 billion in 2018. They are forecasted to increase to $86.01 billion by 2026 ● Adults, aged 21-34 for specialized brands focused on healthier ingredients. ● Athletes looking for healthier options to performance drinks. Increase website traffic by 10%, each quarter for 3 quarters Increase direct online sales through Company website by 30% over fiscal year Increase emails, and phone number contacts by 45% over next 5 quarters (65weeks) 17