Bean Boot Final Project
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Transcript of Bean Boot Final Project
![Page 1: Bean Boot Final Project](https://reader031.fdocuments.in/reader031/viewer/2022030311/58ee9ef51a28abcb5c8b469b/html5/thumbnails/1.jpg)
L.L. Bean BootDigital Strategy 2015 Kenneth Mangano General Assembly 15-Sep-2015
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Business Overview
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Brand Brief
The Bean Boot is for the adventurous, outdoor explorer who needs security knowing that their feet will stay dry in the wettest conditions.
Been in production since 1912.
Unlike the competition, the Bean Boot is handmade and comes with a lifetime satisfaction guarantee.
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Brand Personality
Respected
Sincerity - Genuine, Kind, Family-Oriented
Ruggedness - Tough, Outdoors
Quality - Built to Last
Bear Grylls
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Customer Empathy Map
Think & Feel About their next winter trip after the workweek or
college/high school lets out. About what their friends think.
House projects that need to be done. Want to feel stylish and with the “in” crowd.
See College Campus.
High School Classrooms. Suburban Landscape.
Moutains, Fields, Woods. Ski Lodges, Pub Rooms, Hunting Lodges.
Hear Influenced by opinions of friends and family.
Party, rock, or classic music. Gossip about their friends or people they know.
Influencers talking about the latest trends. Influenced by the latest celebrity or style trends.
Say & Do Read outdoor sporting magazines.
Talk about fashion and style on social media. Follow celebrities/influencers on social media. Research the “best” product for their sport.
Watch online “how to” videos. Buy the latest trends in fashion.
Take frequent trips with their friends.
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Customer Segments
Stylish Active Teens/College Men/Women Active Mature Men/Women
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Digital Strategy
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Campaign Goals
Use Social, email, and paid search channels to drive Bean Boot sales higher by 10% over last year’s sales.
2014 Stats
• Sold over 450,000 pairs of Bean Boots.*
• Had 100,000 people on the waiting list.*
*Source 1
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Channels With Opportunity
• 82% of all 18-29yr internet users.*
• 79% of all 30-49yr internet users.*
• 64% of all 50-64yr internet users.*
• 32% of all 18-29yr internet users.*
• Only 6% of 65+yr internet users. and 13% of 50-64yr internet users*
*Source= 2.
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Channels With Opportunity
Adwords
• 79% of all paid search ad clicks*
*Source: 3
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Channels With Opportunity
Email Marketing
• Closest to paid search in prospect quality and conversion probability.
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Conversion Funnel
1. Use Social Channels to Drive Email Opt-Ins
2. Use Email and Paid Search to Drive Bean Boot Sales
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Campaign Tracking
Custom Query String URLs • http://www.myroadtomillions.com/personal-development/life-efficiencies/quite-
possibly-the-best-boot-ever/?utm_source=Facebook&utm_medium=Pay%20Per%20Click&utm_campaign=BeanBoot-%20Older%20Women
Google Analytics • Event Tracking on buttons/videos/links • Campaign goals to measure progress.
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Facebook/Twitter
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Facebook/Twitter - Audience
Audience Segments
Young Men
13-28yrs
Older Men
29-65yrs
Young Women
13-28yrs
Older Women
29-65yrs
Young Men 13-29
Young Women 13-29
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Facebook/Twitter - Strategy
Content • Compose and advertise good quality content to warm
up our prospective buyers. • Mix in direct response ads with the content driven
ads to encourage email signups.
Influencers that cater to the young audience segments • Drive email sign ups.
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Facebook/Twitter - Key Performance Indicators (KPIs)
Content Ads 1. Click Through Rate (Ad Clicks/Ad Impressions) - CTR 2. Time On Page (Google Analytics) 3. “Read More” click through rate (“Read More” clicks/
# of page visits) Direct Response/Influencer Ads 1. CTR 2. Email Sign Up Rate (# of Signups/# Page Visits)
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Adwords
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Adwords - Keyword Research
Keywords such as: L.L. Bean Boot, Duck Boots, Winter Boots, Rain Boots, Etc..
Max CPC of $1.71 seems to be the sweet spot.
Max CPC of $20.00 equals small increase in # of clicks, but major increase in cost.
# of Keywords
Average Daily Clicks
Bid Range (CPC) Est. Daily Cost
22 2330 $0-$1.71 $0-$1830
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Adwords - KPIs
CTR.
Conversion rate (# of conversions/# of ad clicks).
Keyword conversion rate (# of conversions by keyword/# clicks that keyword drove).
• Eliminate under performing keywords
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Email - Strategy
Content
• Personalized content based on the preferences checked off when they signed up.
• Mix in direct response emails encouraging a Bean Boot purchase.
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Email - KPIs
Click to Open Rate (Unique clicks/unique opens).
Conversion Rate (# of conversions/# of opens).
Unsubscribe rate (# of people unsubscribed/# of emails delivered).
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Facebook Campaign Example
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Women Target Men Target
Facebook - Content Ads
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Content Landing Page
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Facebook Direct Response Ad Example
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Mobile LP
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Desktop LP
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Results
Ad Set Name Results Reach Cost Budget Amount
SpentBean Boots -Young
Men 35 8982 $0.55 $5.00 $19.10Bean Boots - Older
Women 44 4158 $0.43 $5.00 $19.03Bean Boots - Older
Men 42 5594 $0.45 $5.00 $19.00Bean Boots - Younder
Women 38 9214 $0.50 $5.00 $18.92
Totals 159 27948 $0.48 $5.00 $76.05
Average Click to Website Costs $0.48 Potential Campaign Reach Is 68M people.
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Budgeting
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Budgeting - Strategy
Goal: • Increase Bean Boot sales by 10% on a YoY basis • 2014 sales of 450k boots
We need to sell 45k additional pairs!
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Budgeting - Paid Search
Adwords:
Yearly Clicks = 847,467
1% Conversion Rate
Est. Sales = 8,475 Pairs of Bean Boots
# of Keywords Average Daily Clicks
Bid Range (CPC)
Est. Daily Cost
22 2330 $0-$1.71 $0-$1830
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Budgeting - Social
Facebook & Twitter @ 1% conversion rate
• Need 200,000,000 visits
• Need 2,000,000 email sign ups
• Cost to run $96M
• Est. Revenue: $2.4M
Scenario #1 Scenario #2Facebook & Twitter @ 5% conversion rate
• Need 40,000,000 visits • Need 400,000 email sign ups • Cost to run $19.2M • Est. Revenue $2.4M
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Viability
As is, running this on social would be suicide.
Our breakeven CPC on social media would need to be at or below $.06.
Scenario #3
Facebook & Twitter @ 5% • Need 40,000,000 Visits • Receive 400,000 email sign ups @ 1% • 20k units sold @ 5% email CR • Revenue: $2.4M • Cost @ $.06/click: $2.4M
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Totals
Metric Adwords Social Email
Yearly Visits (clicks) 847,467 40M 400K
Conversion Rate 1% 1% 5%
CPC $1.71 $0.06 $0
Cost $665,607 $2.4M $0
Revenue $1,016,960 $0 $2,400,000
Gross Profit $351,353 -$2.4M $2.4M
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Waiting List
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Waiting List Strategy
KPI • Rate of waiting list drop off (%)
• (Original # of ppl on waiting list - # of ppl that received their boots)/(Original # of ppl on waiting list) X 100%
Goal • Reduce amount of waiting list drop offs by 20% Strategy • Incentivize people to wait for Bean Boot delivery.
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Incentives
Offer entry into a contest to win a $500 L.L. Bean Gift Card.
• Entry happens once boots ship.
Communicate to wait-listed customers via email to keep them informed of the shipment status.
• Send pics of the stitching process.
• Personalized videos from the boot makers themselves. Show the manufacturing process to build a lasting bond with the end customer.
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Key TakeAways
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Top Takeaways
Use Social to drive email signups and email/paid search to drive Bean Boot Sales.
Paid Search is profitable.
Social email campaign is viable, but we still need to do more research to get CPCs below $.06/click.
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Recommendations
Look into other social channels to drive signups at a low CPC.
Add new, but relevant search terms to paid search to increase volume
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Sources
1. Bean Boot Preps For Upcoming Season 2. Social Media Update 3. Google Advertising Stats 2015 4. www.forbes.com/BeanBoot
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Thanks For Your Attention!
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Influencer Examples
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Influencer Examples
Sara Belle (Female Targets) • 349,946 Subscribers • Over 40M video views • [email protected] (subject: Sarah Belle) Outdoor Gear Review (Male Targets) • 50,459 subscribers • Over 5M video views • Smaller audience, but highly targeted.