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Competitive Analysis and Strategy Formulation for Digital Marketing By: Name: Vinay Tomar College: K J Somaiya Institute.

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Presentation on theme: "Competitive Analysis and Strategy Formulation for Digital Marketing By: Name: Vinay Tomar College: K J Somaiya Institute."— Presentation transcript:

1 Competitive Analysis and Strategy Formulation for Digital Marketing By: Name: Vinay Tomar College: K J Somaiya Institute of Management Studies and Research PGDM Core

2 Machineshub.com Machineshub.com, started in 2 Jan, 2015, is a global B2B marketplace for heavy machinery & equipment Owned by EssFlex Pte Ltd, Singapore Globally over US$145.5 billion in used/new heavy machinery equipment and parts are sold each year through a fragmented network of brokers and agents. Machineshub.com is making it easier for buyers & sellers to find prospects This company is quite new in the market. But the website looks quite interesting Option of browsing by category Organizing a machinery exhibition in Saudi Arabia which will create more awareness about the company Not too many listing of suppliers. But company is creating its name in heavy machinery marketplace space Appears in Top five in Google search The competitive analysis of various competitors is presented in further slides About Machineshub.com

3 MachineryZone.com MachineryZone is a marketplace maintained by MB diffusion Website Well Designed Website Categorization of Machines according to type and use Sufficiently large number of listings of buyers Details about Auction sales, Sales events, Dealers’ directory etc. Machineryzone is accessible from more than 25 countries. So, Global Presence Present in Europe, Asia, CIS, America 7.7 million visits and 107 million page views Competitor Analysis of B2B marketplace companies

4 Mascus.co.uk Established in the year 2000 as an Internet marketplace Over visits of buyers every month, Mascus is the world’s fastest growing website for buying and selling heavy machinery and trucks Most number of listings in each category among all the competitors plus online ad mark Category wise division for machines Promotion link through fb, twitter, linkedin, google+ etc Global Presence in Asia, Africa, Europe etc. But the price of some product is not shown. It can be found on a request basis Competitor Analysis of B2B marketplace companies

5 tradeKorea.com Global B2B online marketplace tradeKorea.com, is public-private organization established in 1946, currently with over 73,000 member companies Website not so well designed Category wise division of machines Not too many listing of suppliers Listing of heavy machinery suppliers from China, South Korea, Barbados and Taiwan Option of send enquiry and add to my interest for each product Option of connecting to a verified supplier. Good option which can be incorporated by Machineshub.com Competitor Analysis of B2B marketplace companies

6 TradeBoss.com TradeBoss.com is part of a rapidly growing International B2B Network: TradeHolding.com Maintained and operated by TradeHolding Ltd. and consists of 50+ worldwide partner sites targeting 232 countries from all over the world Webpage is very much clumsy and is very tough to find anything which is required Not user friendly Competitor Analysis of B2B marketplace companies

7 Leading online marketplace for used heavy equipment. Sellers achieve more profitable sales through low transaction costs and better price realizations through a global audience of buyers Well designed website Backed by Accel Partners, Kleiner Perkins Caufield and Byers, Caterpillar, Komatsu and Volvo Iron planet has tied up with caterpillar ltd. which is the biggest manufacturer of heavy machineries. An auction will be held from 25 th March to 22 nd April Will attract lots of buyers and sellers and will bring them in a single place, which will create more awareness about IronPlanet’s website Important feature: Mobile App is also present IronPlanet Competitor Analysis of B2B marketplace companies

8 SWOT Analysis of Machineshub.com Strength Among top 5 in Google search Slowly Creating brand value Variety of Product offerings Weakness Need to work aggressively to create the brand name Has not been able to generate expected profits being new in the market

9 SWOT Analysis of Machineshub.com Opportunities Not many competitors in the heavy machinery field Can create brand name via Digital platform M-commerce Threats The growing competition from other brands like machineryzone.com and mascus.co.uk Lack of profits

10 Indian scenario of online Marketplaces At a nascent stage with 25 million online buyers Expected to increase to over 100 million online buyers by 2020 Over 70% of all consumer e-commerce transactions in India are travel related Biggest players in the travel category are Makemytrip.com, Yatra.com and the IRCTC website for railway bookings The E commerce industry has consistently shown a CAGR of above 30 % from 2009 to 2013.The industry size was estimated to be 19,249 Cr in 2009 and has become 62,967 Cr in It is expected to be around 1,116,00 crore ($18 billion) opportunity by FY15.

11 SnapDeal: Celebrating Kisan Diwas, e-retailing firm Snapdeal.com launched “The Agri Store”, offering products like seeds, fertiliser and irrigation tools, among others, to farmers Snapdeal has launched its same day delivery service after flipkart and amazon Flipkart: Flipkart launched Automotive accessories, fitness equipment and Electronic accessories section Offering special discount on shopping from Mobile app Coming with innovative marketing tactics to promote the mobile app like “ SORRY, We’ve shut down” Recent Initiatives by Indian marketplaces

12 Growing Mcommerce in India Indian e-commerce companies are changing their customer-acquisition strategy and are enticing people with offers to install their apps on mobile phones. They expect the move to create more loyal customers than those who land on the portal through online searches As per the reports from IAMAI and IMRB International, by June 2015 India will have nearly 213 million mobile internet users According to the survey, 72% of Indian population use mobile to search for a website while only 27% use desktop/laptop

13 Use of social Media for online marketing Indian marketplaces are effectively using social media for online marketing as shown in the statistics

14 Service Information Brand Positioning Addressing Service Queries and Issues Customer Engagement FOCUS Digital Marketing Strategy for Machineshub.com Mobile Support – BB, Android Web Interface Social Media Presence

15 Service Information: Machineshub.com should provide best service information online to its customers through trained customer care executives Brand Positioning: Machineshub.com should position itself as niche brand in heavy machinery category providing wide range of heavy machinery products Addressing Service Queries and Issues: Addressing service queries and issues should be one of the prime focus of machineshub.com digital strategy Customer engagement: Customer engagement is also one of the important aspect of digital marketing through online promotion, social media etc Digital Marketing Strategy for Machineshub.com

16 Marketing plan Use of PR muscle of the company Use of Social Media Awareness generation through CSR initiatives Marketing Plan and Strategies for machineshub.com

17 Public Relations : Generating awareness without actually advertising it Stories around the brand- Implicit mention of brand name Listing on heavy machinery databases, marketplace rating agencies Online presence - SEO, Magazines Offline presence - Tabloids, magazines Utilize PR muscle of Machineshub.com e.g. Stories behind the machinery products Personal letter/ s: Sending printed letter and s to each esteemed customer Marketing Strategies Use of PR muscle of the company

18 Marketing Strategies

19 Immediate Branding Less spending required Mass Audience/viral marketing Customer Connect Brand damaging if customer complaints not handled properly Bad quality Products can lead to brand damaging People who are not online are left out General Strategies Have a facebook page from where updates about latest equipments are provided to customers Start sharing crucial information about machines and heavy equipments with customers, like properties of machines, their uses etc Continuous updates about upcoming events and exhibitions, so that customers are constantly reminded of the brand Marketing Strategies

20 A Facebook page where all information about products will be uploaded and can be viewed Consistent tweets from the company side Constructive feedback publicized through FB page about comfort YouTube ads of different products of the company Continuous involvement of brand in the media “ELEGANT” SMART- PHONE APP SEARCH-ENGINE OPTIMIZATION A Smart-Phone App through which an user can select a Product from the site and can add it to his/her shopping list and purchase the product. Any user searches for Machineshub from anywhere, the site should land up to Machineshub home page. Google Ad- Words can also be used to increase traffic towards the Machineshub site to increase Brand Awareness m-Commerce Promotions and Channels Marketing Strategy

21 Objective: Implementing CSR as part of corporate strategy by being socially responsible in its core competencies Awareness generation through CSR initiatives “Give Back to Society” Propose to include the contribution towards CSR in every bill that a customer gets For every contribution by customer same amount can be donated by machineshub.com Collaborating with Engineering institutes to conduct free sessions and trainings for week heavy industry employees and students Enriching experience for both students and employees Marketing Strategies

22 Print/ Online Media Promotional Activities - Advertisements Magazines: Business Magazines, Business todays, Newspapers and E version of magazines Hoardings Large Banners of Machineshub.com can be displayed on Highways, Airports, malls etc if company wants to invest more money on promotion Word of Mouth Proper Customer Service rendered at company website and Customer Satisfaction after purchase would automatically Brand “Machineshub.com”

23 Give coupons and payback discounts to the buyers and payback discount can be redeemed with the next purchase if the purchase is done within next 1-2 year If a buyer wants to sell any product through machineshub.com then discount on product listing can be given to them Give coupons and payback discounts to the buyers and payback discount can be redeemed with the next purchase if the purchase is done within next 1-2 year If a buyer wants to sell any product through machineshub.com then discount on product listing can be given to them Coupons and Payback Discounts Auctions Conduct Auctions In Association With Product Manufacturers Other Means of Marketing

24 Recommendations and Call for Action Enlist the company on TradeB2B TradeB2B is the Global B2B website directory. And all the big companies are enlisted in this website. But Machineshub.com is not registered in this directory

25 Option of send enquiry and add to my interest for each product can be added like tradeKorea.com Option of connecting to a verified supplier. Good option which can be incorporated by Machineshub.com like tradeKorea.com Live chat option can be added on webpage. Anyone willing to ask any question can just simply put question on the page and query gets resolved within 1-2 working days. This feature is used by krhicranes.com, a website is for enquiring any heavy machinery product Need to effectively manage Social Media for Brand awareness -Website’s Facebook page has only 18 likes. So huge promotion is required -Website’s Linked in page is present but there is only 7 followers in the page. To increase the viewership company employees and others need to follow the company on Linked in -Company’s page is present on twitter but is not updated regularly. There is a need to manage company’s twitter handle Recommendations and Call for Action

26 Use of Mcommerce: A Smart-Phone App through which an user can select a Product from the site and can add it to his/her shopping list and purchase the product. All the marketplaces are coming up with mobile app so Machineshub.com should also act. Conduct Auctions In Association With Product Manufacturers Tie-up with OEM’s (Original equipment manufacturers) as customers prefer OEM equipments Give coupons and payback discounts to the buyers and payback discount can be redeemed with the next purchase if the purchase is done within next 1-2 year Search Engine Optimization: Any user searches for Machineshub from anywhere, the site should land up to Machineshub home page. Google Ad-Words can also be used to increase traffic towards the Machineshub.com site to increase Brand Awareness Interactive vedio Innovation: Interactive product specification vedios can be added to website and used for promotion and customer engagement Machineshub.com can work on faster delivery of equipments to customers as compared to its competitors and promote itself through the faster delivery service Recommendations and Call for Action

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