This is a marketing plan for Taggletooth, a website that facilitates the buying and selling of event photography, giving it coverage of a unique kind. It is an updated database of photos, relating to every other event in town. The website provides for free selling of photography pertaining to an event and the buyers can select from a range of photos to buy from. This e-marketing plan would enable the business to focus on getting its name and professional services out into the photography world, letting the world know about its unique idea of making every event- memorable! Taggletooth aims to be known for the professional work that is produced in a unique manner. Understanding the costs related to marketing and focusing on the avenues that produces the most return is vital to the success of Taggletooth. This websites is one-of-a-kind, making it an interesting affair to take pictures, upload them on the website, and sell them to others. It provides an incentive to take money for all those extra clicks at any event.
Situation Analysis
Let us first see what are the strengths, weaknesses, opportunities and threats existing for Taggletooth in its respective industry:
Strengths
E-marketing, in itself, supports a digital environment that enhances processes and activities for businesses.
Consumers have more control on the Internet, so that each marketing effort undertaken by the website can go a long way in creating or maintaining customers and sellers.
It is a unique idea, not many websites out there on the Web are catering to this side of event photography.
Experienced and innovative managers of the Website including administrators.
Wide database catering to each and every event.
Strong artistic Team with a vision.
Improved conversion rates.
Personalization through targeted offers.
Unsubscribe options to reach the most genuine ones, only.
Weaknesses
Small opt-in customer list, most site users seek to remain anonymous.
Marketing efforts are not being very strong at projecting a wide range of buyers and sellers.
Few photographer sellers are interested in this strangely-targeted market; many are not familiar to the concept.
Sellers may perceive it to be threatening to their privacy to sell photographs.
The script running the website needs to be re-compiled as it is slow.
The single most stream of revenue for Taggletooth is its advertising, which is progressing at a slow pace to increase the customer base.
Lack of interest from venture capitalists.
Lack of a formal budget process results in expenses that could be avoided or delayed.
Opportunities
Competitive advantage due to limited number of entrants into same sector.
Social networking avenues (Face book, Twitter, Hi-5, MySpace etc.) provides for greater platform to carry out marketing for the website.
Traffic of youngsters and students who are very interested in taking pictures and uploading them to the website for mass coverage and acknowledgment.
Clear-cut communication between the customer and the service provider.
New customer acquisition is possible even in recessionary times.
E-marketing campaigns can be more economical than traditional marketing methods.
Easy tracking of promotional campaigns to see if desired objectives have been achieved.