Student Beans is a youth media brand founded by two young entrepreneurs in Birmingham to make the life of student easier. It was established in 2005 and has been a successful business......... It has a reasonable setting on its websites, social media and Search Engine Optimisation (SEO); however, these areas can be expands productively along with other goals such as increasing the brands awareness. This report presents an implementation plan for Student Beans for in order to improve its position within discount voucher ‘clubs’ market. One of the key challenge facing the company is facing is the business growth within competitive market with a budget of just £100,000 for the period of 8 to 9 month to reach their market goals. There will be a proposal to overcome the tough competition from established competitors. This proposal will mainly focus on the digital marketing plan and will be able to measure if it’s successful or not using Key Performance Indicator (KPI)as suggested by ( ). The plan will encourage targeting Mass University students.
Business overview and Situation Analysis
The Student Beans strength is their website that indicates all the products and services that they have to offer. It appears to have been created with the objective of exclusively marketing of their products to students within UK. They are presently on both Face book and Twitter, though with a weak digital interaction with targeted audience. Their existence on the web is alright but they are not performing well on the search engine, so they need to maximise their opportunities of the two social networking sites (Facebook and twitter). However, there threats are there various key issues facing the Student Beans according to its case study ( ). These are:
Decrease in Students attending university
Poor brands salience towards Student Beans
Tough competition from key established competitors e.g. UniDays + Many apps downloads (Apple 2015)
High cost of living = Change in student purchase behaviour
Weak digital integration e.g. Facebook, Website
The Student Beans market in UK is confined to 2.5 million students apparently per year ( ). And the ‘shifting sand’ (students leaving/entering the market) in the market shows a degree in reduction in amount of students who use their services from year 2010/2011 to 2013/2014.
This could be possibly because of the competition from other discount voucher ‘clubs’ such as Groupon, Voucher cloud, Voucher codes. Other important players in the market are student-specific providers like My Uni Days and Student Money Saver. The accessibility of student data by the competitors means the sign up tends to relate to awareness and price as suggested by ( ).
Given this competitive scenery, Student Beans have numerous ways to conquer market shares and this can be classified into two, namely offline and online.
Offline : Campus promotion i.e inc posters, Ambient media, Partnership with Universities and fresher’s week.
Online: Social Media, Online Ads (Social Media), SEO & Landing Pages, Email and Ad words.
Although most of the competitor if not all are all utilising social media to get involve with consumers and spread the product and services they offering. Student Beans, as several other in discount/voucher ‘clubs’ in UK market acknowledged the requirement to form a direct interaction with clients that changes the part played by the traditional ungainly frame retail channel.
Business Objectives, Goals and KPIs
Because of the generic competition within discount/voucher ‘clubs’ and the nature of the service, Student Beans’ main focus should be to increase its product/services awareness and to let its superior quality be known across the nation.
The three main objectives for