Unit 2 Internet and Electronic Marketing Assignment Help
Where does FAA – Financial Advisors Australia stands now?
The present marketing plan for FAA – Financial Advisors Australia which is in place to attract potential investors as well as clients is mostly based on Offline components. They have a promotional Website but with very limited functionality. It circulates investment brochures and leaflets to prospective audiences. Also, its regional offices in Australia participate in various investor conferences to promote FAA – Financial Advisors Australia brand in Australia. When we talk about the key performance indicators for FAA – Financial Advisors Australia , there has been a guidance for the presence of an opportunity for FAA – Financial Advisors Australia to use higher effective E Marketing method so that it can increase awareness about FAA – Financial Advisors Australia’ proposition and attract inward investment from its clients to increase its asset Base (FAA 2012).
Strengths, Weaknesses, Opportunities & Threats (SWOT) for FAA – Financial Advisors Australia
FAA – Financial Advisors Australia Internal Analysis
When we talk about Strengths, FAA – Financial Advisors Australia always has a credible name when we talk in Investment Marketplace. They have multiple overseas offices outside Australia in both US and European Geographic markets. It has innovative products like investing in segments like Energy, Aerospace, High Technology, Digital Media, Chemical and Carbon Technology. FAA – Financial Advisors Australia has done well segmentation of its current clients and has targeted them with innovative personalized segments and regularly update the current offerings as well as introduces new offerings as per the client needs.
The Website is only used a banner and no connect is present between Website and FAA – Financial Advisors Australia Database. It doesn’t create a mining for any prospect to use this website for connecting with FAA – Financial Advisors Australia. Representatives of FAA – Financial Advisors Australia Overseas as well as Intermediaries doesn’t have any tools to be used in Online Marketing. Also, Clients as well as Sales personnel don’t have any method in which they can track the current status of their portfolio and they have to call the advisory personnel which is offline. Also, we don’t see any action in future which will update the website. Also, there is no optimization for FAA – Financial Advisors Australia Website as well as no online advertising as banner ads on other financial website to increase the Hit Ratio. Content on the FAA – Financial Advisors Australia website isn’t managed properly. There is no service level agreement between website developers and FAA – Financial Advisors Australia for proper maintenance of Website which has made some critical functionality disabled for huge time periods.
FAA – Financial Advisors Australia External Analysis
There lies an opportunity for FAA – Financial Advisors Australia to develop a leader position in the financial market place in Australia if it can truly give better service in the online manner which will help the customers and attract new customers due to the ease of services. It will create the website as an online sales point for FAA – Financial Advisors Australia and an additional sales and marketing channel at very low costs for Clients, prospect, overseas representatives and intermediaries for FAA – Financial Advisors Australia so that they can promote the FAA brand. There also lies an important opportunity for integration through e marketing platform between FAA – Financial Advisors Australia, Regional delivery program and its Centers of Excellence promoted to attract Investors towards Australia.
The biggest threat is that competitors are already moving in this direction. So, either they can be too late in getting in this e marketing bandwagon as it is becoming hygiene factor. Competition from other regions and nations who already have developed offers in similar e marketing space. Hence, this is becoming need of the hour. Also, there has been a disconnect between the end offerings developed and the client expectations hence not taken well by client. They should also have integration between various investment target teams for FAA – Financial Advisors Australia so that the suggestions coming from teams need to be addressing the common problems for Investments teams and not specific ones. Also, the E marketing plan should balance between Australian Centre of Excellence and FAA – Financial Advisors Australia Regional delivery centers. . Another problem is that the present e marketing plan is not up to the mark, hence there is a need of total revamp so that website can perform better, navigation is proper, response time is low and customer satisfaction is very high. This will have its effect on evaluation of the marketing Plan and the allocation of resources for the same for FAA – Financial Advisors Australia.
PEST Analysis for FAA – Financial Advisors Australia
We have tried to do a Political, Economic, Social & Technology factorial analysis for FAA – Financial Advisors Australia which will help us to form a base for our E- Marketing Plan.
Political Factors for FAA – Financial Advisors Australia
Any E-marketing plan should take care of the present Privacy and Electronic communication regulations present in Australia while forming the extent of data needs for data base. We should use data for any other purposes or leak it externally. Also, Spamming shouldn’t be done as well as “cookies” should be used in the solicited manner. We should disguise ourselves when we send direct information mailers form email and a clear mention of FAA – Financial Advisors Australia should be made. Also, mail recipients should be provided with options in which the can opt out with those mailing lists so as to prevent ourselves from being marked Spam
Economic Aspect for FAA – Financial Advisors Australia
The financial sector is creating multiple job opportunities in Australia which has been the result of high input investments coming from outside economies in Australia. These investments are due to strong economic factors which are both Macro as well as Micro in Australia. The organizations worldwide are changing their investment strategies exploring high value economies outside the present territories. These all factors present huge opportunities for growth for FAA – Financial Advisors Australia as well as the total financial sector of Australia.
Social Aspect for FAA – Financial Advisors Australia
After the inception of Internet in 1994, evolution is taking place in online activity of users and how they perceive e-marketplace. The activity was primarily on personal computers which have now shifted to Portable devices like Laptops and Handheld mobile phones and Tablets.
In Australia itself, it is estimate d that broadband penetration is more than 90% which can’t be overlooked while deciding marketing plans for the future. The growth of e market place and social communities of Facebook as well as twitter have given ample options for organizations like FAA – Financial Advisors Australia to interact with their present customers as well as prospects. Websites like Digg, Delicious and Stumble upon are creating new brand propagation mechanisms. When we talk about the boom of the hour which is social media, the growth opportunities are immense. This has converted the Internet usage from Information search to participation and content creation. Social media has even changes governments in countries and can have a huge participation while deciding FAA – Financial Advisors Australia E Marketing Plan. Order Now