Shifman'sFinal presentation892
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Digital Strategy regarding Marketing and PR for Home Depot by Alex Shifman for ADV. 892 (MSU)
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Shifman'sFinal presentation892
- 1. By: Alex Shifman A39670175 Adv. 892: #NMDL
- 2. Basics • The famous “Do-it-yourself” (DIY) retailer • Founded in 1978 • By Bernie Marcus and Arthur Blank • Mission Statement: “To provide the highest level of service, the broadest selection of products and the most competitive prices” • One of the largest retailers in the world with over 2,000 locations • Home Depot is often referred to as the “Big Orange”
- 3. Competition • Lowes • Menard’s •Sears •B&Q
- 4. Big Idea: Multi-Media Campaign • Plans to launch a multi-media campaign, which will highlight a newly modified mobile app. • HD will improve and condense their current two versions of their mobile apps into one. • Will also host home-improvement related contests among major social media platforms • Social media contests could consist of asking consumers to post their own “Do-it-yourself” projects • Encourages consumers to directly engage with Home Depot.
- 5. Mobile App. Strategy Standard: Pro:
- 6. Audience •Do-it-yourselfers (DIY) •Do-it-for-me (DIFM) •Professionals and contractors
- 7. Objectives •Increase awareness and usage of mobile app. •Increase downloads for the app. •Improve communications
- 8. Budget
- 9. Measuring Effectiveness • Measuring effectiveness can be challenging • HD will track cookies, monitor social media clicks and likes, and measure other various analytics. • The newly modified app. will allow Home Depot to track reach and frequency. • This multi-media strategy will focus on all media outlets, while highlighting the mobile app.
- 10. La Fin Sources: www.homedepot.com http://www.newslocker.com/en-us/news/funny_videos/honest-(image) http://graphics8.nytimes.com/images/2006/01/18/business/18depot.(image) Competitor logos: www.sears.com, www.menards.com, www.lowes.com, www.diy.com
Notas del editor
- In terms of marketing goals, Home Depot would like to remain the market leader for the home appliance industry, while increasing market share. Other goals include increasing sales in both brick and mortar stores and e-commerce sites. Home Depot plans to achieve these goals by launching a multi-media campaign, which will highlight a newly modified mobile app. for Home Depot’s audience. Home Depot will improve and condense their current two versions of their mobile apps into one. Hosting home improvement related contests among major social media platforms would help to raise awareness for the new app. Social media contests could consist of asking consumers to post their own “Do-it-yourself” projects on social media outlets, such as Facebook, Twitter, or Instagram. Home Depot will be awarding the top three winners with cash prizes. This social media contest will not only spread awareness, but also encourage consumers to directly engage with Home Depot.
- Consolidating the two apps will cut costs, and increase the ease of use. The first major change is to convert them into one app. by combining all the functions and features from the two current versions. Former users of the Pro version can continue using the professional tools and figures, while the regular shoppers still enjoy all the previous features plus more in the newly developed version. These new features are aimed to increase the in-store experience for consumers. One of the new features includes the use of augmented reality! This can be very beneficial to the firm, and increase consumer engagement. After snapping a picture or capturing each tool to their phone, consumers can build their own virtual toolbox. Each tool can be used as a digital coupon, and one can use the full tool box to trade in for a real set of tools at any Home Depot Location. These digital coupons would be redeemable in-store only. Consumers could search for keywords of certain products or browse by category.
- Do-it-yourself People who want to do home-related projects themselves Step-by-step tutorial Do-it-for-me People who don’t want to do fix-it projects themselves Online handyman referral service Professionals and contractors People who know what products and information they need Multiple delivery and pickup options; flexible credit & discount options; specially-trained sales associates; dedicated parking and checkout lanes
- According to their 2013 Annual Report, gross advertising expense were $865 million in 2013, $831 million in 2012, and $846 million in 2011 (Home Depot, 2013). Based on previous advertising expenses, Home Depot will set the advertising budget to $900 million for 2015 and allocate funds to various media categories. Based on the shift towards digitalizing everything, the company’s focus will be on its newly launched mobile app and social media platforms. Home Depot is planning to strategically boost sales through non-traditional methods, aka inbound marketing. Perhaps the new app. can be shared via their newsroom or by influential bloggers.
- As we have learned from Scott’s readings, measuring effectiveness is not always easy. I propose that Home Depot tracks cookies, monitors social media clicks and likes, and measures other various analytics. The newly modified app. will allow Home Depot to track reach and frequency. It is, however, important to remain respectful of customer privacy concerns in order to avoid any PR issues. Social media can reduce customer service costs, strengthen brand loyalty, and allow Home Depot to collect and compile analytical data. This multi-media strategy will focus on all media outlets, while highlighting the mobile app. All media vehicles used will not only work together, but also boost each segment’s efforts and success.