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420 final

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SUGGESTIONS ON PRADA'S DIGITAL STRATEGY

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420 final

  1. 1. Suggestions on Prada's Digital Strategy ADV 420 Jiarui Hong
  2. 2. Target Audience ■ Primary: Prada Elites ■ High-income groups ■ Aged 35 to 50+ ■ Outstanding artistic tastes ■ Keen on innovation a/one-of-a-kind products ■ Recommended: "Silver Spoon Kids" ■ Young adults from wealthy families. ■ Have a great amount of pocket money that enough for them to buy luxury goods to fulfill their vanity.
  3. 3. Big Idea ■ Take full advantage of the features and strengths of social media and internet marketing, to enhance the loyalty of Prada’s current customers, and increase Prada’s attraction to its potential customers. ■ Major aspects ■ Social Media ■ Internet Marketing ■ Mobile Strategy ■ Metrics ■ Budget
  4. 4. Social Media 1. Create two-way communication 2. Cater contents to different platforms  Improvable Points
  5. 5. Internet Marketing ■ Blogging ■ Provide more in-depth stories about the brand and its products instead of simply demonstrating the gorgeousness of its products. ■ Have designers talk about their inspiration and own experience related to the fashion industry. ■ Invite fashion bloggers or solicit contributions to talk about their own experience with Prada products and their recommendations. ■ Search Engine Optimization ■ Target on keywords about products that are not so Prada- featured ■ e.g."Top Handle"
  6. 6. Mobile Strategy ■ Mobile apps ■ Audiences could easily keep in pace with the latest news of these brands and freely explore the contents that they are interested about the brand. ■ Major competitors of Prada in the luxury fashion industry already published their own apps in the apple store.
  7. 7. Key Performance Indicator - Metrics ■ The number of followers and shares it gained from blog posts (if Prada do blogging in the future), to figure out what kind of blog contents are most attractive to audiences. ■ How many followers that Prada gained on each social media platform and how many likes or favorites each post received. ■ How many people visit the official website through the link provided in the posts. How long and which pages they spend most of their time. ■ How many people downloaded the Prada app, and how many time on average each person spend on the app. ■ How sales look like, after all these digital marketing efforts.
  8. 8. Budget I divided the annual digital budget into 9 parts, and the proportional distribution of the budget for each part is as is shown in the pie graph below: Total Digital Budget≈ $152 million (4% of annual revenue)
  9. 9. Summary ■ Overall Main Idea of My Digital Strategy Increase brand awareness and build a mutual relationship with its target audiences by taking advantage of social media, blogging, search engine optimization and mobile app. Thus, attract potential customers and convert them into real customers, while improving the loyalty of current customers.
  10. 10. Citation ■ Citations Cohen, David. "STUDY: Big Retailers' Strategies for Facebook, Twitter, Instagram." SocialTimes. Web. 18 Sept. 2015. "Prada." Wikipedia. Wikimedia Foundation. Web. 7 Nov. 2015. THANK YOU

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