powerpoint
Strategic Plan
· “Big idea”
The goal is to increase traffic for Liquid Tea Bar in order for customers to be apple to enjoy the delicious drink and boba tea options. As well as, building the Liquid Tea Bar brand that will stand out against the various competitors. In order to do so, Liquid Tea Bar will offer excellent customer service, tasty drinks with quality ingredients, and implement measures to build customer loyalty.
o Implementation
· Offer a Monday special $1 drink to create an increase in customer traffic and build brand awareness.
· Maintain a positive online presence through the use of social media and review websites like Yelp in order to understand the customers perspective and provide excellent customer service.
· Promote our many delicious drink options through social media handles in order to appeal to our target market and offer surprise deals for those that follow to build customer loyalty.
Message
· Explanation and justification of message
o Promotion of social media such as Facebook
· In order to increase the amount of followers and views on social media. This is important in order to build brand awareness through the social media page as well as offer special promotions for those who follow. Through facebook, Liquid Tea Bar can provide photos and showcase their many delicious drink options.
o Yelp check in discounts
· Offer 1 free topping when customers check in through yelp. This will offer incentive when customers visit Liquid Tea Bar. It will also increase the amount of reviews and customer feedback. Which will help the business see what they are doing right and what they are doing wrong.
o Special promotions
· Offer special promotions such as monday one dollar drink special (with some exclusions) for customers in order to build customer loyalty, increase traffic, and appeal to our target market.
Promotions
· Daily Promotions:
· Customers can use a coupon code of bubble 10 to receive 10% off their orders everyday during all hours.
· Customers are encouraged to grab a stamp card. For every drink purchased they get one of the ten holes punched out. When they have reached ten drinks they get a free regular with one free add on. This promotion increases the likelihood of customers returning.
· Customers can also check in using the yelp app for a discount as well.
Justification of everyday promotions:
· These promotions attract loyal and new customers to the tea bar and allows them to feel rewarded for participating in the promotions. The everyday promotions are designed to stay connected with the company and to show appreciation for the community and its consumers.
Weekly Promotions:
· On mondays their is a promotion of a one dollar drink special (with some exclusions). Either from 2-5 PM and 6-9 PM the store picks whatever drink they want to be $1; but it can only be cash only. There's a different drink every week. Only in a regular size and two drinks per person.
Justification for weekly promotion:
· This promotion is meant for their slowest days. Having a featured drink that costs only one dollar will bring in customers on that slow day. With the drink changing every week it allows repeat customers to try new drink for less.
Media
· Media Chart of all running Marketing Communications advertising and promotions
· Social Media
· Reason for using: By using instagram marketing there is an increased likelihood of brand awareness. It is a place where our company can reach out to its customers and communicate any promotions going on. Instagram allows us to also upload live videos and pictures which can show what customers are missing out on in real time.
· Reason for using: Facebook allows us to reach out to a different demographic of people. Usually the people that view our Facebook page are older and want to see what quality products are being used. This allows us to reach out more efficiently because it adds value to the organization by opening up opportunities for consumers to make comments that will feel heard.
· Yelp
· Reason for using: Yelp is a way for consumers to look and decide where and what the nearest options are for a specific food. Using Yelp helps reach a larger market for potential customers. Yelp has become one of the easiest and biggest ways people search for and order food from. It is a quick way for potential growth and accessibility.
· Reason for using: Twitter reaches a younger demographic. Usually those in high school or college. This is a great way to market because there are many schools nearby, making it an easier choice for them to drive to before and after classes.
Measurement
· How will we measure the success
o Benchmark and success measurement
· Sales - Sales have an impact on various key metrics including gross profit and break-even point. The break-even is the point at which all the costs and revenues are equal. Many businesses start making profits after they have passed the break-even point. Break-even is a vital measure in measuring the amount of sales needed before the business starts making profits. The gross profit measures how much the business is making after the cost of sales is subtracted.
· Historical sales – this will help track the performance of the business over time. Comparing weekly, monthly, and yearly sales help identify the days of the week, month, and seasons when the restaurant is busiest.
· Cost of labor – this includes wages, discounts, taxes, and employee benefits. These costs form a significant proportion of a restaurant’s total revenue, hence they need to be measured.
· Cost of sales – these are the direct costs associated with the production done in the business. They are a good metric for measuring key aspects of the business such as the cost of goods produced and profit.
Start Marketing Plan over from the beginning.
· Single voice
· Pictures & Graphs
· Real advertising and promotion samples ready to use
· Visually pleasing color and layout