Interactive Marketing

Interactive Marketing
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Executive summary
The Economist is a leading news magazine in the world which does not
necessarily adhere only to economic affairs as its name suggests. The Economist is a
pioneer in delivering news from all over the world covering the aspects of business,
finance, science and technology. However, the name of the brand is often mistaken to be
associated with the qualities of masculine gender and hence is mostly neglected or has
poor readership within the feminine population. Such as problem is the premise of the
present report wherein the objective of the research report is to increase female The
Economist is a leading news magazine in the world which does not necessarily adhere
only to economic affairs as its name suggests. The Economist is a pioneer in delivering
news from all over the world covering the aspects of business, finance, science and
technology. However, the name of the brand is often mistaken to be A digital strategy
which could include the objectives of the digital marketing plan, and acquisition
methodologies including segmentation, positioning and targeting
- Digital communication through paid and own media

- Measurement of performance metrics through KPIs
Hence, the present report is segregated into four sections- Firstly the introduction
section will address in detail the business problem the objectives of the report and the
The Economist is a leading news magazine in the world which does not necessarily
adhere only to economic affairs as its name suggests. The Economist is a pioneer in
delivering news from all over the world covering the aspects of business, finance, science
and technology. However, the name of the brand is often mistaken to be and the final
section will be conclusion of the report.
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Table of Contents
1.0 Introduction .................................................................................................................10
1.1 Business problem .....................................................................................................10
1.2 Objective of the report .............................................................................................11
1.3 Steps for preparation of Digital Marketing plan ......................................................11
2.0 Digital Marketing Planning framework- SOSTAC .....................................................13
3.0 The case of The Economist ......................................................................................16
3.1 Situation analysis .....................................................................................................16
3.1.1 Identification of customers ...............................................................................16
3.1.2 Analysis of the Industry....................................................................................17
3.1.3 SWOT analysis .................................................................................................18
3.2 Setting Objectives ....................................................................................................20
3.3 Realising strategies ..................................................................................................21
3.4 Tactics ......................................................................................................................23
3.5 Actions .....................................................................................................................24
3.6 Control .....................................................................................................................24
4.0 Conclusion ...................................................................................................................25
References .........................................................................................................................26
Appendix ...........................................................................................................................28
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1.0 Introduction
which is stated in different words but are ought to deliver the same meaning. According
to Chaffey and Smith (2008), digital marketing is simply marketing online with the aid of
websites especially social media sites, online advertisements, mails, newsletters, and
through mobile-phones. Keywords such as electronic marketing, Internet marketing and
e-marketing are all related to Digital marketing.
(http://www.economist.com/), a leading English magazine which offers opinions on
international affairs such as politics, finance, business, and science and technology. The
online facility enables readers to acquire previously published information from 1997
(The Economist, 2016a).
1.1 The Economist is a leading news magazine in the world which does not
finance, science and technology. However, the name of the brand is often mistaken
to be senses. However, with unique content and writing, it gained immense attention
and transformed into an entity that could enhance readers world.
However, one major issue with The Economist was revealed; the number of new
male subscribers is increasing whereas the balance is not achieved with the new female
subscribers.
It is generally perceived that The Economist shares vital news information
catering the needs of the masculine population whereas the female masses are most often
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and technology. However, the name of the brand is often mistaken to be need to carefully
examine the ways of increasing female subscribership for The Economist. Targeting
women population through digital advertisement (simply digital marketing) is hence
hypothesised to create a level playing field. In this regard, the following objectives are
set:
1.2 The Economist is a leading news magazine in the world which does not
finance, science and technology. However, the name of the brand is often mistaken
to be subscriber base of The Economist
1.3 Steps for preparation of Digital Marketing plan
There are five crucial steps involved in the preparation of a digital marketing
plan. With the objective identified, the following steps of e-planning should be
performed:
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Figure 1: SOSTAC framework
Situation Analysis- Porters five forces and SWOT

S
analysis
Objectives- a) increase female traffic b) Acquire new

O
female users c) Increase female subscription
S Strategy- Segmentation, Targeting and Positioning
T Tactics- SEO, Online PR, Interactive ads, Online

partnership, Social media marketing
Actions- SEO optimization, Paid search, Email

A marketing
Control- Examination of performance metrics

C through KPIs
Source: Adopted from Author (2016)
Hence the forthcoming sections of the report shall address the aforementioned
steps of devising the digital marketing plan (SOSTAC framework) for the selected
company based on the objectives set.
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2.0 The Economist is a leading news magazine in the world which does
not necessarily adhere only to economic affairs as its name suggests.
The Economist is a pioneer in delivering news from all over the world
covering the aspects of business, finance, science and technology.
However, the name of the brand is often mistaken to be relevance with
the context of the present business report based on SOSTAC planning
model:
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Stage 1: Situation analysis
female subscribers which is uneven in the overall number of subscribers of the news
giant. Situation analysis imparts the following procedure: identification of customers, the
description of the market, competitors of The Economist, and influencers of the company
(stakeholders), Furthermore, a SWOT analysis should be performed to understand the
internal strengths and weaknesses, and external threats and opportunities.
Stage 2: Objectives
Objective setting has a prime position in the SOSTAC framework. To recap, the
objective of the present report is: To increase the UK subscriber base while increasing
the number of female subscribers thereby balancing the scales.
Stage 3: Strategies
Segmentation based on target customers, positioning, proposition and the

marketing mix, brand strategy, Online representation using own website, Content and
engagement strategy, Digital channel acquisition communications strategy, Digital
channel conversion strategy, Digital channel retention communications strategy, Data
strategy, Multichannel integration strategy, Social media marketing strategy, and Digital
marketing governance strategy (Chaffey & Bosomworth, 2013).
Stage 4: Tactics
Search Engine Optimisation (SEO)

Google Adwords
Email marketing
Google Analytics
Social media marketing
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Stage 5 & 6: Action plans and Control
KPIs are measured in these stages on periodical basis to ensure meeting the
objectives and measure the success of the digital marketing campaign.
3.0 The case of The Economist
3.1 Situation analysis
3.1.1 Identification of customers
cent) and least number of subscribers in the 16-20 years age group (0.50 per cent) (Refer
Appendix). Identifying the number of new subscribers in the year 2015 in monthly basis
revealed the total number of new subscribers all over the year to be around 140,104
wherein the proportion of male and female new subscribers is 98,825 and 41,279
respectively which shows imbalance within the gender. This gender imbalance is derived
from the business context that The Economist is considered to be a magazine that is
dedicated for the male society and lacks attraction within the female audience. However,
this is not the truth. The Economist is for everyone and there is a need to increase the
number of female subscribers so as to increase subscribership as well as balance the
scales.
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30,000
25,000
20,000
NEW WOMEN SUBSCRIBERS
15,000 (2015)
NEW MEN SUBSCRIBERS
10,000 (2015)
5,000
0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Source: Adopted from Refer appendix
3.1.2 Analysis of the Industry
An analysis of the industry (Newspaper/ magazine) in which The Economist

operates is necessary in order to identify the market factors affecting the subscription.
Industry analysis is performed using Porters five force model which is as follows:
Company overview
a) The Economist is a leading news magazine in the world which does not
necessarily adhere only to economic affairs as its name suggests. The Economist
is a pioneer in delivering news from all over the world covering the aspects of
business, finance, science and technology. However, the name of the brand is
often mistaken to be Threat of new entrants
Relatively low threat for new entrants to enter and compete with The Economist.
b) Threat of Substitutes
With other competitors in the market, alternative news magazines are found
prevalent and hence there exists high threat of substitutes. A number of magazines
targeting the female population is high in the UK (Magazine, 2016).
c) Bargaining power of suppliers
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With the era of new technological innovations, suppliers may have high power to
influence The Economist. However, supplier power may have least influence on the
subscribing behaviour.
d) Bargaining power of Buyers

e) The Economist is a leading news magazine in the world which does not
necessarily adhere only to economic affairs as its name suggests. The Economist
is a pioneer in delivering news from all over the world covering the aspects of
business, finance, science and technology. However, the name of the brand is
often mistaken to be Rivalry with existing competitors
For The Economist, there are a number of powerful market rivals. The top
competitors include- Financial Times, The telegraph, TimeInc, NewsUK, Forbes and so
on (The Economist Group, 2016).
On the basis of the Porter five forces analysis, the influence of these factors on the
subscribing behaviour of customers is stated in the following table:
Factor Rating
Threat of new entrants Low
Threat of Substitutes High
Bargaining power of suppliers High
Bargaining power of Buyers High
Rivalry with existing competitors High
In addition to the five force analysis, the SWOT analysis is conducted which acts
as a company based analysis.
3.1.3 SWOT analysis
a) Strengths
The strengths of The Economist in the newspaper and magazine industry include:
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- Broad readership
- Renowned brand name
b) Weaknesses
- Business Cost control strategies

- Disinvestments in print advertising
c) Opportunities
and technology. However, the name of the brand is often mistaken to be d) Threats
- Increase of free online news sites

- Increase in market competition
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Strengths- S Weaknesses- W
Broad readership Business Cost control
ORGANISATION Renowned brand name strategies
Disinvestments in print
advertising
Opportunities- O SO strategies WO strategies
New acquisitions and mergers Increase the strengths of Utilising opportunities
with other organisations the organisation by thereby countering
Growing market for online maximising the weaknesses
advertising, digital marketing opportunities
could be profitable
Threats- T ST strategies WT strategies
Increase of free online news Improving strengths Counter weaknesses and
sites thereby reducing threats threats by improving
Increase in market competition strengths and utilising
opportunities
3.2 Setting Objectives
approach is hence built- Bring more female traffic to the official site, acquire new female
users and increase female subscription of the magazine.
3. INCREASE NO. OF FEMALE

SUBSCRIPTION
2. ACQUIRE NEW FEMALE
1. INCREASE USERS
FEMALE TRAFFIC
Source: Adopted from Author (2016)
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In addition, the SMART objectives are set to increase the number of female
subscribers to The Economist. A SMART objective (SMART- Specific, Measurable,
Achievable, Relevant, and Time-bound) should clearly specify what is to be achieved,
whether quantitative or qualitative measures are required to achieve the objective,
whether the objective is realistic and achievable, relevant to the context of marketing and
has a specified timeframe to getting achieved. Though the objective of the current
business problem was very abstract, the objective is now converted into a smart
objective.
Previously: To increase the UK subscriber base while increasing the number of

female subscribers thereby balancing the scales.
Now: To increase the UK subscriber base while increasing the number of female
subscribers from 29 per cent to 40 per cent using the Reach, Act, Convert and
Engage (RACE) framework
3.3 Realising strategies
a) Segmentation, Targeting and Positioning
An effective marketing plan is activated with the use of the Segmentation,

Targeting and Positioning (STP) model which aids companies towards targeting buyers
in a more appropriate manner. Segmentation aids with the identification of customers/
buyers/ subscribers in a market (Newspaper and Magazine industry here) in which the
target segments are selected and market positioning is performed.
In this regard, demographic and psychographic information are examined. The

case of The Economist revealed various demographics wherein Audience segments
were categorised based on age, income, and industrial sector (Refer Appendix 1).
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Sectors Percentage of subscribers
Educational 16.60
Financial 23.60
Manufacturingg 9.50
Government 7.40
Institutional/Trade 1.40
Mining Agriculture 2.70
Private Individuals 2.90
Professions 16.10
Services 16.50
Utilities 3.30
It is estimated that more than 23 per cent of the overall subscribers belonged to
the financial sector wherein the next highest percentage share is owned by the
educational sector. It is however known that there is high necessity to know international
affairs in daily basis for both the sectors (Financial and Educational). In this regard, the
process of developing demographic and psychographic information is known as persona
development.
Targeting variable Common attributes

Demographic segments Age, sector, income
Psychographic segments Brand responses of women through social media campaign
Behaviour Topic of interests, Use of keywords,
In this regard, four major personas have been created with respect to female
subscribers wherein the following table will illustrate the different personas created:
Finance expert Education Professions Service
Age: 30-65 years Age: 21-49 years Age: 21-65 years Age: 21-40 years
Income: 60000 to Income: 0 to Income: 0 to Income: 60000 to
225000 149000 149000 149000
Topics of interest: Topics of interest: Topics of interest: Topics of interest:
Development, Research, Book, Family, Book, Development, Help,
Research, Number, Making, Social, Social, Work, Social. Change,
Change, World, Change, Education, Business World, Government,
Business, World, Years People, State,
Government, State, Business
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People, Policy, Year
It is deemed that with more number of subscribers in the financial and educational
sector with more number of subscribers in the age group of 25-50, these segments should
be targeted. Attracting feminine population from the financial industry may be trickier
since the sector is known to have differences in the number of male and female finance
experts (Ftadviser, 2016). It would be more viable to target the educational sector since
education may necessitate women to actively subscribe to The Economist.
In this context of the business problem, the following strategies are recommended
to increase the number of female subscribers in the UK.
1) Setting a Goal- The goal is the same as that of the SMART objective.
2) Reach target audience- Female subscribers can be reached by placing articles on the
basis of topics of interests in press release sites which will increase female users to visit
the website of The Economist and subscribe for editions; Social media marketing
strategies may aid better results by placing articles on the basis of topics of interests.
These strategies may increase female subscriber count.
3.4 Tactics
Following are the several digital marketing techniques used in general which include
the following:
1. Search marketing- SEO, Pay Per Click

2. Online PR- Brand protection, Community participation
3. Interactive ads- Sponsorship, targeting of behaviour
4. Online partnership- Affiliate marketing
5. Social media marketing- Customer feedback, Managing social presence
(Chaffey & Smith, 2008)
In the present context, affiliate marketing and social media marketing are
identified to provide better results to increase female subscribership in the UK. Affiliate
marketing is deemed to offer a relatively cost effective option for marketing using online
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environment. Conventional marketing techniques do not reach a wide audience and hence
affiliate programs are run which will reach markets and people that are unreachable by
traditional marketing strategies (Juriov, 2013). With affiliate marketing, articles based
on feminine topics of interest could be posted. Affiliate marketing in this scenario is most
effective when the selected sites to affiliate marketing should have more female traffic.
Social media marketing is always deemed to be a successful marketing scenario. With
campaigns based on feminine topics of interest targeting the created personas, female
users may tend to look into the website of The Economist and may subscribe.
3.5 Actions
The action plan with respect to the adopted strategies should implement the
following:
- Optimisation of SEO such as keyword analysis

- Paid search- Optimise using Google AdWords
- Optimisation of social media marketing
- Email marketing (Chaffey, n.d.)
3.6 Control
The final stage of the SOSTAC framework aids in understanding the performance
metrics of the action plan. KPIs are examined in this regard wherein based on the
objectives, the following KPIs will be used-
1. Sales revenue- To track the revenue of the company based on the digital
marketing campaign conducted. With this KPI, The Economist can track the
sales revenue whether increasing or decreasing thereby monitoring the growth
projections. Increasing female subscribers tend to increase the sales revenue
of the organisation.
2. Inbound Marketing ROI- This KPI is crucial to business success as the
improvements in female subscribership could also be attributed to examining
the ROI
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3. Traffic to lead ratio- This KPI lets the company understand the number of
visitors that have been converted as leads. Traffic targeting will be tracked
with the number of female visitors converted into leads.
4. Lead to customer ratio- Figuring out how many leads were converted into
customers is important. This further defines the sales revenue.
5. Organic traffic- The amount of organic traffic received reveals the increase in
trust towards the brand.
6. Social media traffic- enables identification and control whether qualified
people are reached, engaged, and how many actually convert into customers.
Furthermore, the RACE framework aids planning and management of the digital
marketing activities which will steer improvements in the organisation.
Reach (R) Act (A) and Convert (C) Engage (E)

SEO Conversion Rate Promotional emails
optimisation
Pay Per Click Lead generation
Mobile marketing
Affiliate marketing Home page optimisation Content marketing
Online advertisements Landing page optimisation
Online PR
Social media marketing
4.0 Conclusion
Digital marketing has become one of the most common techniques to achieve
competitive advantage wherein the present report attempted to assess the business issue
at The Economist and the need to increase their female subscribership. The SOSTAC
framework is used to examine complexities in the selected organisation and the solution
to increase number of female subscribers in the UK region is also devised. It is deemed
that the finance and education sector have increased the number of subscribers and hence
these sectors are targeted. Tactics such as Search marketing, Social media marketing and
email marketing can bring better results which could be examined using KPI metrics.
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References
Chaffey, D. (n.d.). Digital marketing strategy Planning Template. [Online]. Available

from: http://www.charleswarner.us/articles/RACE-digital-marketing-plan-template-
smart-insights.pdf.
Chaffey, D. & Bosomworth, D. (2013). Digital marketing strategy Planning Template.

[Online]. Available from: http://www.enterprisebucks.co.uk/wp-
content/uploads/2014/09/digital-marketing-plan-template-smart-insights1.pdf.
Chaffey, D. & Smith, P.R. (2008). E-Marketing Excellence: Planning and Optimising
Your DigitalMarketing. 3rd Ed. Oxford: Butterworth-Heinemann.
Egan, J. (2004). Relationship Marketing: Exploring relational strategies in marketing.

2nd Ed. Essex: Prentice Hall.
Ftadviser (2016). Major financial services firms step up to tackle gender gap. [Online].
2016. Ftadviser. Available from:
https://www.ftadviser.com/investments/2016/10/11/major-financial-services-firms-
step-up-to-tackle-gender-gap/. [Accessed: 10 November 2016].
Juriov, V. (2013). Affiliate marketing in the context of online marketing. Review of

Applied Socio- Economic Research. [Online]. 5 (1). pp. 106111. Available from:
ftp://ftp.repec.org/opt/ReDIF/RePEc/rse/wpaper/R5_12_Jurisova_p106_p111.pdf.
Magazine (2016). Magazine Subscriptions for Women. [Online]. 2016. Magazine.Co.

Available from: http://www.magazine.co.uk/magazine-subscriptions-for-women.
[Accessed: 10 November 2016].
The Economist (2016a). About us. [Online]. 2016. Economist. Available from:
http://www.economist.com/help/about-us#About_Economistcom. [Accessed: 10
November 2016].
The Economist (2016b). The GRT Brief 2016: The Economist Female Subscribers.
[Online]. 2016. Available from: https://dma.org.uk/uploads/misc/577235377b223-
prx-projoo6750_grtcompetitionbriefs_v3-00_577235377b170.pdf. [Accessed: 14
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December 2016].
The Economist Group (2016). The Economist Group Company Profile. [Online]. 2016.
Owler. Available from: https://www.owler.com/iaApp/189626/the-economist-
group-company-profile. [Accessed: 10 November 2016].
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Appendix
Table 1: Acquisition targets
Sub start New subs New subs Total % Female of total

month 2015 Female Men subs excl unknown
Jan 3,937 11,226 15,163 26%
Feb 2,245 5,675 7,920 28%
Mar 1,845 4,296 6,141 30%

Apr 1,747 4,248 5,995 29%
May 1,822 4,747 6,569 28%
Jun 1,766 4,199 5,965 30%
Jul 1,669 3,989 5,658 29%
Aug 2,468 6,400 8,868 28%
Sep 3,117 7,310 10,427 30%
Oct 11,049 25,278 36,327 30%
Nov 7,844 17,892 25,736 30%
Dec 1,770 3,565 5,335 33%
TOTAL 41,279 98,825 140,104 29%
Target 2017 75,000 113,650 188,650 40%
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Table 2: Customer Value
Life Time Value (LTV): assume a LTV of 600 per customer (indicative due to
confidentiality)
Cost Per Acquisition (CPA):
CPA Channel
100 Affilliate marketing
95 Direct Mail lapsed subscribers
160 Direct Mail Prospecting
160 Display Conversion
450 Display Development
170 Email Prospecting
160 Experiential
110 Inserts in Economist
180 Inserts Prospecting
140 Partnerships
50 Search Paid
105 Social Fans & Followers
280 Social Prospecting
Figure 1: Audience Profiles
Age (yrs) Econ Subscriber (%)

16-20 0.50
21-29 7.20
30-39 17.40
40-49 20.90
50-64 29.10
65+ 24.90
Household Income ($) Econ Subscriber (%)

0-59,999 12.30
60,000-89,999 17.00
90,000-149,000 29.30
150,000-224,999 19.90
225,000-349,999 9.70
350,000+ 11.80
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Table 3: Audience Profiles continued
Industry sectors Econ subscriber (%)

Educational 16.60
Financial 23.60
Manufacturing 9.50
Government 7.40
Institutional/Trade 1.40
Mining Agriculture 2.70
Private Individuals 2.90
Professions 16.10
Services 16.50
Ultitilies 3.30
Table 4: Topics of interest by gender Female vs Male vs Shared
Female Topics Shared Topics Male Topics

Development Year Economy
Help World China
Family Years Risk
Research Education Crisis
Making Work Major
Future People Europe
Book Government Course
Social State Debt
Change Business End
Number Policy Beginning
Source: Proximity analysis of The Economist topics engaged with on social media
topics by gender
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Table 5: Facebook brand response campaign results by gender
Gender Sum of Clicks Row Labels
Female 96810
10311 Big Mac Index
15362 If youre so busy, then how come youre reading this?
6372 Black America: The fire and the fuel
43301 Europes boat people (migrants)
7645 I must teach harder in class
1941 Dealing With Rogue Drones
1022 Is it global warming or just the weather?
Male 259735
73303 Big Mac Index
18456 Black America: The fire and the fuel
43633 Dealing With Rogue Drones
81967 Europes boat people (migrants)
7106 If youre so busy, then how come youre reading this?
356545 Grand total
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- Digital communication through paid and own media

1.0 Introduction .................................................................................................................10

1.1 Business problem .....................................................................................................10

1.2 Objective of the report .............................................................................................11

1.3 Steps for preparation of Digital Marketing plan ......................................................11

2.0 Digital Marketing Planning framework- SOSTAC .....................................................13

3.0 The case of The Economist ......................................................................................16

3.1 Situation analysis .....................................................................................................16

3.1.1 Identification of customers ...............................................................................16

3.1.2 Analysis of the Industry....................................................................................17

3.1.3 SWOT analysis .................................................................................................18

3.2 Setting Objectives ....................................................................................................20

3.3 Realising strategies ..................................................................................................21

3.4 Tactics ......................................................................................................................23

3.5 Actions .....................................................................................................................24

3.6 Control .....................................................................................................................24

4.0 Conclusion ...................................................................................................................25

1.3 Steps for preparation of Digital Marketing plan

Situation Analysis- Porters five forces and SWOT

Objectives- a) increase female traffic b) Acquire new

S Strategy- Segmentation, Targeting and Positioning

T Tactics- SEO, Online PR, Interactive ads, Online

Actions- SEO optimization, Paid search, Email

Control- Examination of performance metrics

Source: Adopted from Author (2016)

Segmentation based on target customers, positioning, proposition and the

Search Engine Optimisation (SEO)

3.0 The case of The Economist

3.1 Situation analysis

3.1.1 Identification of customers

Source: Adopted from Refer appendix

3.1.2 Analysis of the Industry

An analysis of the industry (Newspaper/ magazine) in which The Economist

c) Bargaining power of suppliers

d) Bargaining power of Buyers

Bargaining power of suppliers High

Bargaining power of Buyers High

Rivalry with existing competitors High

3.1.3 SWOT analysis

- Business Cost control strategies

- Increase of free online news sites

3.2 Setting Objectives

3. INCREASE NO. OF FEMALE

Source: Adopted from Author (2016)

Previously: To increase the UK subscriber base while increasing the number of

3.3 Realising strategies

a) Segmentation, Targeting and Positioning

An effective marketing plan is activated with the use of the Segmentation,

In this regard, demographic and psychographic information are examined. The

Targeting variable Common attributes

Finance expert Education Professions Service

1. Search marketing- SEO, Pay Per Click

- Optimisation of SEO such as keyword analysis

Reach (R) Act (A) and Convert (C) Engage (E)

Social media marketing

Chaffey, D. (n.d.). Digital marketing strategy Planning Template. [Online]. Available

Chaffey, D. & Bosomworth, D. (2013). Digital marketing strategy Planning Template.

Egan, J. (2004). Relationship Marketing: Exploring relational strategies in marketing.

Juriov, V. (2013). Affiliate marketing in the context of online marketing. Review of

Magazine (2016). Magazine Subscriptions for Women. [Online]. 2016. Magazine.Co.

Table 1: Acquisition targets

Sub start New subs New subs Total % Female of total