marketing powerpoint

Before the meeting:

B1. What business is the company in? How do they make money? If they are a start-up, are they selling any product yet?

Drake Refrigeration is company that sells refrigerators, mostly to other businesses.

B2. Who is their target audience?

Drake Refrigeration’s target audience is mostly businesses with refrigeration needs, such as, breweries, dairy farms, and hospitals.

B3. What types of digital marketing are they already doing? Do they already have some owned media? Do they have some earned media?

Drake Refrigeration only uses owned media. They have a website and an email list of their regular customers. They also have a Facebook and Twitter that both have very little activity or presence.

B4. Do you have any initial ideas for A/B testing that might help the company?

We are thinking of changing the appearance or functionality of a feature on Drake Refrigeration’s website with a goal of increasing the amount of requests for quotes the website gets.

During the Interview: Martin Squicciarini, Engineer Manager Linda Quirk, Marketing Manager

C1. Who is your target audience? Or if you already have some idea of this, ask the client to confirm, e.g., I imagine that your client is primarily caterers who want to use the product at events. Is that right?

For the longest time, our company has focused on contacting with contractors over the nation, one of our biggest contractors is United Refrigeration. They provide most of our customers and we communicate mostly through them. However, after hiring Edward, our company took a new direction in marketing, we wanted to contact our customers directly, thus we narrowed our audience down to 8 applications: Breweries, Dairy Farms, Food Processors, Low-Temp Facilities, Industrial Plantations, Hospitals, and Refrigeration.

C2. What types of marketing are you currently doing? Make sure to ask about specific marketing channels that they might be forgetting (website, email, social, etc., based on your research). The best channels for A/B testing are owned media channels, especially email and websites, so make sure to focus on those. For each channel, try to get a sense of how many users/viewers they have, e.g., How many visits does your website get in a month? or How many emails are on your list?

Since our company is mostly B2B, there wasn’t much need for social medias or digital marketing. We have over 800 email contacts that are our regular customers. However, our competitors, GD Chillers, began to develop a digital marketing campaign, thus we adapted. We created a website that leads the users to request a quote for our website. The website gets an average of 5,767 visits per month.

C3. What do you see as your biggest marketing challenges and opportunities? Listen carefully to the response. Great project ideas come out of this question.

Our biggest challenge is to get to the decision makers. Our products are a huge investment for our customers, so mostly it is the CEO or “The Big Guys” who make the decision on whether they should purchase our chillers. Our biggest opportunities is when we get the chance to meet face to face with our customers and show them what our chillers do.

C4. Do you have any question you've always want to know about your customers?

Our number 1 question would be why they chose other chiller companies except for ours, did we lose on price, size, or feature?

C5. As you know, we have to do an A/B test for our class. Do you have any specific ideas for A/B testing? Is there a specific channel you'd like us to work with? Are there alternative marketing messages that you are interested in comparing?

Drake concluded that they will provide two versions of its newly updated website. The first version would consist of a new look of the new website, with the home page displaying the eight applications through a big slideshow header, on the top right will have the button, “Request a Quote”. The second version would consist a different set of cover photos, and will have the button on the top right that says, “Request for Info”.

After the meeting:

A1. How the company makes (or plans to make) money. For startups, summarize where they are in their development.

Drake Refrigeration Inc. makes money through selling high quality, dependable refrigeration and cooling equipment product line, including cooling and conditioning equipment used in commercial, industrial & residential, medical & pharmaceutical, food & beverage industry. The price for products is various depending the contracts because it is a B2B company. Overall, current estimates show this company has annual revenue of $50 to 100 million.

A2. Target audience(s) for the company.

The target audience refers to the specific market that Drake Refrigeration wants to dominate. According to the company interview, Drake refrigeration has been working with contractors who in turn talk to their consumers. However, the company has decided to focus on establishing a connection with consumers. The target audience of the company includes industrial plantations, breweries, food processors, hospitals, low temp facilities and refrigeration.

The products from Drake Refrigeration are meant to cater to the needs of industrial organizations and businesses. Drake Refrigeration has extensive experience in the engineering of refrigeration and cooling solutions for a wide range of consumers. The company has worked with breweries, food processors, low temp facilities, and medical institutions for many years. The increased communication between the company and its consumers is an opportunity to focus on meeting the specific needs of each group of consumers.

The exact definition of the company’s target audience is a good for the company. The definition of the target audience means the company models advertisements that communicate to their target market. Also, Drake Refrigeration can focus on conducting research on how to improve the solutions it offers to the targeted consumers.

A3. Summary of current marketing. Make sure to include information about how many users they have on each marketing channel that you might use for your A/B test.

Drake Refrigeration Inc. focused more on building its brand website that allows customers and contractors to request a quote rather than using social media like others do because it is a B2B company. Also, they heavily rely on emails to keep in touch with its partners. As the Engineer Manager Marty said, there are around 5,767 visits per month in average. Although the company does not spend a lot of time and money in Marketing, the partners would put more efforts into digital marketing for promoting the products.

A3. Three preliminary ideas for A/B tests. Please be sure to describe what treatments you plan to use (mock-ups are great!) and what response measure you plan to use to compare the treatments.

The aim of digital marketing is to improve the effectiveness of a company’s website. Website improvement improves the online presence of the company by ensuring that consumers can get the information needed without having to navigate for too long. A/B testing describes a randomized testing process that has two variants, which are the variation and control in the experiment.

Based on its current marketing, Drake Refrigeration is not heavily operating their marketing strategy digitally. Because their business is mostly B2B, the sales department work closely with industrial contractors who connect Drake Refrigeration with their clients. For example, a brewery owner, who is interested in purchasing an industrial chiller for his 15-barrel microbrewery, will contact a contractor, such as United Refrigeration. United Refrigeration will then connect Drake Refrigeration with the brewery and request specifications. Since the company has been doing well with this strategy for quite some time, Drake has not considered implementing a new digital marketing strategy.

After discussing what A/B testing is and the exact direction Drake Refrigeration wants to do for its digital marketing, we have come up with three campaigns that can help secure a definitive A/B test: a variation of an email blast, two different logos, or two versions of their new website. With our help, Drake concluded that they will provide two versions of its newly updated website. The first version would consist of a new look of the new website, with the home page displaying the eight applications through a big slideshow header, on the top right will have the button, “Request a Quote”. The second version would consist a different set of cover photos, and will have the button on the top right that says, “Request for Info”.

To perform this test, we decided to use Google Analytics as our experiment tool. In Google Analytics, there is an option called experiments, which will direct us to a setup for an A/B test. The objective of this test is to see which home page generates better CTR, CPM, visits per day, views per day, and average audience size. After the setup is complete, we set the percentage of traffic to 100%, which allows all users to be part of the experiment. Google Analytics will then segment the traffic 50/50, and will randomly choose which versions to give to which users. The test will last for 3 weeks, gathering a predicting size of about 4000 audiences, depending how long we are allowed from the class. Afterwards, we generate the data and conclude which version had better results.