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In Nineteen Start- up Challenge 2012, the expounder of 8 Securities, Abdullah mentioned his team was restated with the ‘legacy technology, not having product development, and most importantly, no own customer experience’ in the traditional industry. Being eager to develop these missing elements In the future Investment market, Abdullah started up his own Web 2. 0 Company to launch the Innovative ‘customized trading portal’ with acute insight and global ambitious.
In this essay, an analysis is conducted on 8 Securities’ marketing strategy that is mentioned in the article from the following various aspects. Recommendations on possible adjustment and improvement are also provided subsequently. 1 . Promotion, In particular, free Faceable shares I Key Issue I * Ethics * Consumer behavior * Customer experience I Segmentation * Differentiation * Targeting I Less important | 2. Future Market and skill for future Marketers I Non- existent point 8 Securities utilized the Faceable shares as part of its promotion strategy.
With the clauses set on the eligibility for the free Faceable shares is to use their online trading services, 8 Securities successfully leverages Faceable as its ‘gimmicks’ to have created a significant market demand of Its online trading services In return for the free share Incentives. Although the process to receive the free shares was described as ‘simple by signing up’ by 8 Securities, the article brought up a minor ethic issue that in reality it would only deposit the shares to its customers’ account within 14 days instead of 8 minutes as claimed Initially.
Despite of the fact that some customers ‘hoping to flip the free Faceable shares immediately after they start trading on Friday are out of luck, 8 Securities’ marketing promotion turned to be a win-win situation after all. Its customer received free shares as extra value on top of using new technology for riding activities, while 8 Securities differentiated itself from its rival by delivering the promotion messages directly to Its specific target customers without huge spending on advertisement.
The article mentioned the targeting, though not completely the segmentation, of 8 Securities. The company strategically targeted at young, tech-savvy people who use the social network. Referring to Table 1 below, 8 Security aimed about 46% (1. 6 million) of the total Faceable users in Hong Kong. As such, its marketing promotion through the most popular online social-network channel is proven most effective in his dot. Com era for its reduction in cost and ability to reach out to its target audience Instantly and directly globally.