Recommendation: Big Skinny should revise the online marketing approach by taking one strategy at a time, making it success and then Jump to another. Rationale: After analyzing the case it is recommended that Big Skinny should revisit their online marketing options and prioritize what they should be concentrating on to make a good stand in online market and create a brand name. This would help them create a customer base whom they can introduce with new buying options later on.
They should start with social media, interactive marketing and online distributors first. For making their online marketing campaign a success it is necessary that customers are confident of their product. Wallets are a kind of product which are best analyzed by touching and feeling the material. So the people who have already owned a big skinny wallet or have heard enough about the brand will be most confident to buy it online. So its possible that in initial days of their online market they will get large umber of repeat purchases and lesser new purchases.
For creating their brand value online, initially they should only use online distributors who are trusted by the customers, like Amazon and eBay . This would also help avoid the glitches like wrong discount coupon distribution and many other losses associated with it. They should be selective when it comes to the reputation of the website which is distributing their product and make sure that customer revisits the site because of their product and not Just to find some discounted deals.
As they already have a huge and happy customer base they should inspire these customers to come online and promote other people to buy their product using social media. They can also introduce some kind of reward point system for regular customers to encourage them to visit their online resources and buy product form there and leave recommendations. Other ways to promote their product can be TV commercials, email promotion and online rebates etc. Now, coming to other promotion strategies which they should consider ext when they have got a good online customer response.
The Display advertisements only get clicked 0. 1% of the time and also takes a lot of time for their site to be listed as top site, so they should save their money by not concentrating on this option. As far as sponsored search is considered, as indicated in their chart they are paying a high price for a phrase like "Leather wallet", which is not even their priority and main product. I would suggest they should also use words like "best Gifts for him" "Christmas gift for dad" etc. Cause wallets are considered great gifts for festivities and birthdays. Another long term suggestion to increase their customers would be to categorize items on various customer categories like, wallets for women and senior people etc. Moreover, they should also keep expanding their physical market and should contact more retail stores to sell and promote their product. They can also make a liaison with a well-established brand like.