1) What should Kiril focus on next? What should be his highest and lowest priorities? Why?
With the difficulty that Kiril is experiencing with the online marketing of Big Skinny, Kiril needs to first focus on a strong online marketing to draw new customers. With Big Skinny’s success at the street fairs using the in-person sales method, it is clear that the wallets can be successful and self-selling given the proper tools. In order for new marketing efforts to be successful, Kiril needs to develop a digital market that features a mixture of long-tail marketing, behavioral targeting, and Internet advertising formats. This technique will help Big Skinny achieve a global reach through media richness by using support such as rich messages,
The best practice in Big Skinny’s case is attract more people to the Big Skinny’s Facebook page with the help of present Big Skinny fans. Big Skinny can give away free wallets as a social media marketing campaign on their social media page, if the existing fans share their Big Skinny online purchase on Facebook and/or twitter. This will attract more people on the social media page. The new and existing fans will get a promo code for their subsequent purchases on the fan page and this way Big Skinny can track if their online promotion campaign is effective. Additionally the wallet company can also invite participants to design their wallets as a campaign of their social media page to involve them and generate engagement.
The costs associated in increasing social media effectiveness are variable and depend on the kind of engagement the company wants to incorporate. The main cost is payments made towards the content creators, hired to create effective messages across various social media platforms. Moreover, the cost would increase if and when Big Skinny will launch social media campaigns and offers giveaways to promote their business.
4) Should Big