OBJECTIVE ONE
Increase Our Brand Recognition and Recall by 20% with Generation Z in time for launch.
Our first KPI is to be acknowledged and remembered by Canberra’s Generation Z consumers. Brand recognition and recall measure the effectiveness of a brand and its foundations, recognition and recall reflect each consumer’s familiarity and comfortability with the brand. During the consumer decision making process, easily recognisable and recallable brands are most likely to be purchased compared to competitor brands with the same product or service (Walgrove, 2019). In their 50th year anniversary, widely recognised fashion brand 'Ralph Lauren' aspired to increase their brand awareness with Generation Z consumers. The brand collaborated with Facebook and Instagram to implement in-feed video and story-based advertising. Through this, Ralph Lauren saw a 41% increase in product page views and an 18% increase in online sales from Generation Z consumers (Instagram Business, 2019).
OBJECTIVE TWO
Increase Our Social Media Following by 25% with Generation Z in time for launch.
Our Second KPI is to gain a following on Instagram and TikTok from Canberra’s Generation Z consumers. Social media allows a brand to be diverse with what they have to offer, it provides the opportunity for the brand to have a distinguishable identity to separate the brand from their competitors. For Generation Z consumers, social media plays a key role in their ability to recognise and recall a brand, the more a brand is prevalent on their social media feeds, the more likely it is for Generation Z consumers to recognise and recall the brand (Normoyle, 2019). Brands frequently use Instagram contests as a means to increase their following and consumer engagement. Instagram accounts which regularly hold contests grow 70% faster than accounts which don’t utilise this method (AdEspresso, 2020).
OBJECTIVE THREE
Increase Our Consumer/Brand Relationship with Generation Z by 40% in 12 months.
Our third KPI is to establish a trusted relationship with Canberra’s Generation Z Consumers. A trusted and personable Consumer/Brand relationship is important as it is a key factor in the development of a consumer’s trust and comfortability in a brand, like human relationships, positive interactions result in continued associated and connection. The quality of a relationship between a brand and a consumer evolve through meaningful brand and consumer interactions (Fournier, 1998). London clothing brand ‘You Don’t Want This Life’ strengthen their relationship with consumers by replying to comments, interacting with their customers and addressing their concerns.
OUR STRATEGY TO MEET OBJECTIVES
Our Strategy to Increase Our Brand Recognition and Recall by 20% with Generation Z in time for launch.
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To increase our brand recognition and recall, Faux Pas Label intends to establish the name through simple networking:
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Instagram Market Survey (Shared Media)
Instagram Shoutouts (Shared Media)
Cobranding (Partnerships Media)
The Instagram Market Survey is Faux Pas Label’s establishment, without knowing of the brand survey undertakers are now subconsciously aware of the brand and what it has to offer without yet being linked to any social media accounts. The market survey is used as a way of teasing consumers and seeing who shows interest in what the brand is offering in terms of design and price. Instagram shoutouts will primarily be volunteer based, receiving shoutouts from friends and satisfied customers who will shoutout the brand on their stories after receiving satisfactory service. Cobranding is used to help consumers with the recall method during their decision-making process. An example of co-brand marketing is combining Faux Pas Label clothing with Ralph Lauren clothing to produce a greater culture capital and associated appreciation for Faux Pas Label. This also helps consumers to recall brands that associate with luxury and quality (Keller, 1993).
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Our Strategy to Increase Social Media Following by 25% with Generation Z in time for launch.
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To increase our social media following with Generation Z, Faux Pas Label intends to implement the use of:
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Instagram and TikTok Content (Shared Media)
Instagram and TikTok Influencers (Incentive Media)
Instagram Contest (Incentive Media)
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Approximately 99% of Generation Z Australians have and use some form of social media, 24% of this segment use social media to follow brands and businesses, 48% of Generation Z consumers are interested in contests from the brands and businesses they follow (Sensis, 2020). One in four women from Generation Z say they discover new products from Instagram Influencers (Morning Consult, n.d.). Generation Z affiliates don’t consume the traditional forms of media that predecessor generations consume such as television, newspapers or magazines. Generation Z are technology inclined and tend to spend their time consuming online media forms, approximately 74% of Generation Z spend their free-time on social media (IBM, 2017). Instagram and TikTok are the only two social media platforms being used in the Faux Pas Label advertising campaign. Facebook currently has over 2.6 billion users (Statista, 2020), however, according to a study by Business Insider (2019), Generation Z favour Instagram to Facebook. Adding to this, TikTok was downloaded over 700 million times worldwide last year, Facebook attained less than 700 million downloads last year (Sensor Tower, 2020).
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Our Strategy to Increase Our Relationship with Generation Z by 40% in 12 months.
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To increase our Consumer/Brand relationship with Generation Z, Faux Pas label intends to interact with our followers. This is achieved through the continued and persistent use of social media and webpage chat facilities, making sure we are providing an exemplary customer service when answering questions and queries. Our Brand/Consumer Relationship is measured through consumer surveys, where consumers can rate our effectiveness of professionalism, friendliness and the level of trust they have in us as a brand. 64% of consumers are more likely to trusty a brand if the brand interacts with consumers positively on social media (Sensis, 2020).