2. Business Initiative
MKTG INITIATIVES -- A summary of OLE Ent's initiatives lie within the service areas of the company. For visual creation, the initiative is to gain access to the best tools that create the best visual works. These tools include; proper recording equipment, software that revolve around videos, and good support teams. For musical creation, the initiative is to create and develop outstanding artists that will be able to represent the company. Methods towards doing this would include proper connection amongst local MC's social media management, proper advertising, funds for studio creation, etc. For social media applications, the initiative is to create an app that will attract a large demographic of mobile users. Methods for this initiative include making connections with techno-developers, artists, and UIX artists. Methods also include proper advertisements via the internet. Mock training of the social applications are also a good method for meeting the end initiatives.
MKTG GOALS -- Marketing goals are consistent throughout the 3 major services of the company. Most of today's marketing methods are pursued via the internet. Proper use and implementation on this platform will shed light on the services provided by OLE Ent. Proper promotions of OLE Ent's services throughout the DMV area is a major marketing goal. Establishing the brand locally before branching out nationally creates more support and leverage for OLE Ent. Examples of appropriate marketing goals would include resolutions such as; Increased follower content within social media accounts, Better promotions of OLE Ent services, increased rates of engagement within the brand, etc. Creating all of these efforts collectively would be a good standpoint for marketing goals of OLE Ent.
MKTG METRICS -- For each of OLE Ent's services , there would have to be different marketing metrics set. For the visual content sector, metrics of youtube watch content would be appropriate. Software types that would better assess these metrics would include youtube analytics. For the social media application sector, metrics such as Google Play Store and Google Ads would be an appropriate software for measuring success. This gives the company insight into how many people are using/interacting with the applications on display. For the musical sector, software and applications such as soundcloud, spinrilla, and spotify would be great tools for measuring success. This gives insight into how many people are engaging with the company sounds. Along with these specific metric tools, social media also aids in each of the company services. Social media platforms such as Twitter, Instagram, Snapchat, etc, would provide the company with a broader sense of what type of audience engages with the services of OLE Ent.
3. Target Market
INDUSTRY NAMES -- The Entertainment industry is a niche industry that OLE Ent will be providing services in. The main services provided by OLE Ent include; musical entertainment, visual entertainment, and mobile entertainment. Therefore, the music industry, mobile industry, and visual works industry will be subtypes of the Entertainment industry that OLE Ent will focus on.
BUYER PERSONA -- Buyer personas will vary amongst each of the industries. The musical industry will be occupied by OLE Ent’s current musical parties (O.T.M.T.M/ Famous Newt/ Sav Jackson) rap group collective, along with other potential clients in the future. The groups niche focus will be centered on rap/hip-hop. Therefore, the buyer persona for the musical industry will be consumers who are musically inclined towards rap/hip-hop genres. OLE Ent’s current musical parties will be the main individuals used for catering to this type of audience. In the future OLE Ent hopes to collaborate and work with other musical entrepreneurs that will be able to provide high quality musical entertainment through the company. The visual works industry will be jointly occupied by the marketing team as well as the musical team of OLE Ent. Each section will consist of their own personal projects, however there will be collaborations on projects from time to time. For example, the marketing sector of OLE Ent will be involved in works such as short comedy skits, thriller skits, visual advertisements, etc. However, there will also be collaborations with projects spanning from the musical sector of OLE Ent. The marketing team will cross-produce projects with the current musical parties and other musical clients every time a certain level of promotion is required. The bulk of these cross-productions will be centered on music videos for the current musical parties as well as other musical clients fostered under OLE Ent. Buyer personas for this industry will be consumers who enjoy visually pleasing works of art and creativity. Specifically speaking, consumers who enjoy musical videos, comedy skits, thriller skits, etc. The mobile entertainment industry will be fully occupied by the marketing sector of OLE Ent. Projects within this sector will mostly include development of mobile applications for entertainment. Therefore, buyer personas for this industry will be heavy mobile users as well as users who enjoy using social entertainment applications. The marketing team along with social engineers under OLE Ent will be the primary means of contact for consumers in this industry. Overall;
Musica Service Persona’s- Musically inclined, Attracted to Rap/Hip-Hop, Millennials generation gap, Located in the DMV area, Fond of DMV area, patron of musical arts, etc.
Visual Works Persona’s- Attracted to visual works of art, attracted to visual entertainment, homebody, netflix watchers, movie goers, Millennials and others, etc.
Mobile Entertainment Persona’s- Tech savvy, fond of social media applications, fond of mobile applications, fond of visual user interface applications, etc.
4. Market Strategy
PRODUCTS -- Products of OLE Ent include musical services, visual artwork services, and mobile entertainment services. To elaborate on the services provided, Musical services include albums,records, and singles’ produced by all artists under OLE Ent. Visual creativity services include short comedy skits, thriller skits, youtube videos, promotional videos, and music videos. Mobile entertainment services include mobile applications provided services from information networks to interactable user interfaces.
PRICE -- Services that consumers will have to pay a fee for will include musical services and mobile entertainment services. For the musical services, consumers will have to pay for online streaming albums supported through apple and spotify, tickets to live shows, promotional/recreational bookings, and features. The current charge price for Spotify streaming is $9.99 a month. This would result in a gross amount of $119.88 a year. The current charge price for Apple music streaming is $9.99 - $14.99 a month. This results in a gross amount of $119.88 - $179.88 a year. Tickets prices for live shows vary based on who the performing artists is, and where the show is conducted. Prices for these tickets range from $23 - $50 + a show. Booking agents for musical shows generally charge around 5%- 10% for their services. Amounts made from the venue are then split accordingly between the booking agent, musical performers,etc. The average price for a musical feature varies based on the rate of musical development, size of fanbase, amount of clout gained by musical performers, and personal motives. The general metric for musical collectives and entrepreneurs would more than likely depend on the amount of clout gained as well as the amount of value in their musical productions. For the mobile application services , consumers will have to pay for use of some of the mobile applications. Prices for these mobile applications will vary based on what type of service the application provides, what platform the application is sold on, and how well the application is known in the mobile entertainment industry.
PROMOTION -- . Promotional methods of OLE Ent will be coordinated by the marketing team of the company. The promotional efforts will cohesively run through all service sectors of the company. There will be one main form of promotion used throughout the company, online marketing and social media engagement. These forms of promotion could potentially generate the most audience reach for each service sector of OLE Ent. Social media platforms that will be used for the musical dept will include; instagram, twitter, snapchat, youtube. -- Platforms that will be used for the visual works dept will include; Youtube, Snapchat. -- Platforms that will be used for the mobile entertainment dept will include; google ads, facebook, google Play-Store, Apple store, etc.
PROCESS -- Musical Sector-- Process for Generating & Spreading Sound;
1). Construct raps/ songs/ writings/ other pieces of work through hand. Enhance the rough draft work overtime to ensure that it will be studio/radio ready.
2). Modify social media accounts across all platforms. This will attract potential listeners. Engage in social media content across all platforms. This will keep potential listeners rooted to the service. Share/Reply/ Build networks of industry service across all platforms. This will potentially generate a large fanbase for the musical creators.
3). Create visual works for the songs written by musical entrepreneurs. Upload forms of the visual work to massive video platforms such as Youtube. Manage video content through online analytics such as Youtube Analytics.
4).Evaluate end results of the promotional efforts. Engage in results by numbers and analytical software. Evaluate social media follower content as well. Review what’s working and what’s not. Implement the successful methods more frequently. Alter the unsuccessful methods for future use.
5) Re-create more visual works for the musical entrepreneur. Monitor social media content and strengthen engagement efforts. Strengthen management of followers as well.
6). Seek possible business ventures through the music industry. Attempt to engage in features with other musical artists. Attempt to collaborate artists with other musical entrepreneurs from various companies and labels. Build strong relationships and networks within the musical industry.
7).Create investments through the profits earned from musical ventures. Re-invest in OLE Ent company. Invest in well known stocks and markets across all forms of service. Establish IRA accounts for musical entrepreneur(s).
8). MONITOR PROGRESS AND REPEAT STEP 5.
Visual Works Sector-- Process for creating & establishing visual work;
1). Create accounts for the visual works to be promoted on. Certain accounts can include Youtube and Twitter.
2). Develop relationships with video engineers. Set up contracts for video work. Create and post videos to online accounts.
3). Evaluate visual works through analytics software. Software includes Youtube Analytics, Google Analytics, Hootsuite Analytics, etc. Take note of methods that show to be effective. Also take note of methods that prove un-effective. Continue to implement the positive methods, and alter the negative methods.
4). Re-create and post videos on to the multiple online platforms. Continue to evaluate and enhance content through analytics software.
Mobile entertainment sector-- Process for developing and publishing mobile ent. apps;
1). Meet with fellow designers, UIX engineers, and tech savvy individuals to help establish application ideas.
2). Develop and test run mock applications. Ensure that the prototype meets required needs and functions well enough for consumer use.
3). Create study survey groups for the application to be tested on. Gain consumer feedback and implement results into action plans.
4). Finance final parts of the application and establish service onto online application platforms (Apple Store, Google Play Store).
5). Sign up with promotional ad services such as google ads, Facebook ads, etc.
6). Promote services onto other external sites such as twitter & facebook.
7). Evaluate performance as well as consumer drive after promotion of services.
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