Increasing the Sales of Wall Words, Inc. Report by: Do Duong Dennis Ravelo Ken Smith Cynthia...

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Increasing the Sales of Wall Words, Inc. Report by: Do Duong Dennis Ravelo Ken Smith Cynthia Soriano

Transcript of Increasing the Sales of Wall Words, Inc. Report by: Do Duong Dennis Ravelo Ken Smith Cynthia...

Increasing the Sales of

Wall Words, Inc.Report by:Do Duong

Dennis RaveloKen Smith

Cynthia Soriano

Proposal Purpose

• The purpose of our proposal is to increase the sales Wall Words, Inc.

• Our proposal will increase sales by marketing to a new demographic

About Wall Words

Business Ads

Monograms

Funny Quotes

Home Design Inspirational Quotes

2010 Sales

56%

4%5%

5%

30%

Words Logos Business PurchasesGift Cards Graphics

• The majority of sales came from decals in the form of words, sentences, and phrases

2010 Quote Sales

7%

8%

51%

11%

21%

1%

Custom Quote

Funny Quote

Inspirational Quote

Religious Quote

Sentimental Quote

Single Letter

Competition

• Limited customer expansion

2008 2010

$856,258.91

$653,900.73

Sales Comparison (in thousands)

Source: Wall Words’ Sales Reports

• Sales dropped 30% from 2008 to 2010

Problem

Generation Y

Composed of individuals aged 18-34

AKA Millenials, Gen buY and Generation Me

$200 billion annual spending power

First generation to be exposed to technology from an early age

Demands personalized attention from businesses

Increase Sales by marketing to Generation Y

Alternative 1: Magazine Advertising: Pros

• Pros• Loves

magazines• Magazines are

the most effective traditional advertising method Pe

ople

Cosm

opolita

n

ESPN

The

Mag

azine

Spor

ts Illustra

ted

Max

im

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

18,000

Gen Y Readers by Magazine

Number of readers projected to total population

Alternative 1: Magazine Advertising: Cons

• Cons• Limited reach• Expensive: Minimum $24,403

per year

Alternative 2: Social Media: Pros

• Pros• Inexpensive• Reach many

users daily• Most

effective method

Source: L2 Gen Y Affluents: Media Survey

Relative Audience: Facebook Reach vs Circulation Reach

Alternative 3: Social Media: Cons

• Cons• Competition with established brands• Older generation may have a hard

time• It will take some time for Wall Words

to fully establish itself on social media sites

Alternative 3: University Campuses and Dormitories• Pros• Direct contact

with Generation Y• Inexpensive

marketing strategy

• Cons• Least effective

marketing strategy

Conclusion

• Alt. 1: Magazine Advertisements• Effective but expensive

• Alt. 2: University Advertising• Direct contact with Gen Y but flyers

are easily dismissed

• Alt. 3: Social Media• Most effective but must compete

with established brands for Gen Y’s attention

Recommendation

Wall Words can most effectively increase

its sales by using social media to advertise to Generation

Y.

Moving Forward

1. Hire Gen Y consultant

2. Immediately create Facebook page

3. Redesign website to attract Gen Y

4. First mover advantage

Questions&

Answers