Assignment 3


Unit 2: Inbound and Social Media Marketing

Assignment 3

Task 1


Report


Introduction

This report aims to analyse the inbound marketing strategies of IKEA and MADE.COM.

Approach to Inbound Marketing

IKEA is a long-established furniture retailer who has developed an effective inbound marketing strategy. One of the first examples of their approach was adding a social sharing component to their 2014 online catalogue (Oyos, 2013). IKEA also created region-based business accounts on Instagram, enabling the company to promote discounts, giveaways and events specific to that area and market. IKEA frequently offers free, ungated content to customers in the form of inspiration boards on Pinterest and their Home Tour video series (Duncan, 2019). It is clear that IKEA recognises the importance of generosity when sharing valuable online content.

MADE.COM shares a similar approach by also offering free content in the form of informative blog posts under the topics of How to, Inspiration, Style Tips and Trends (MADE.COM, 2019). The company also runs social media market campaigns, such as their #MADEdesign campaign, which encourages customers to post photographs of their MADE.COM products online for a chance to be featured on the company’s Instagram. This is a strong example of how MADE.COM uses social media to foster customer relationships and develop a rapport that goes beyond just buying the product. 

Strengths and Weaknesses 

Key strengths in IKEA’s strategy is their use of visuals and incorporation of new, digital technologies. IKEA always produces high quality, beautiful images of their products; recognising that, online, customers are not buying a product but an image of a product. Their IKEA Place app, which allows customers to situate IKEA furniture into their home virtually by using augmented reality technology, also shows how they successfully assimilate new technology into their strategy (Erkilic, 2019). However, a significant downfall is their traditional business model, which expects customers to drive out of town to one of their brick-and-mortar stores in order to buy their products. Not having all their products available to buy online and be delivered to a home address reflects an outdated approach which weakens their entire marketing strategy.

A major strength in MADE.COM's approach is their ability to provide a human touch. The desire for handcrafted products and original designs is a current trend which MADE.COM follow by promoting the original designers of their products on their site via their TalentLAB platform. By encouraging this kind of transparency, MADE.COM manages to satisfy the growing need for authenticity and individuality in the faceless digital age. One shortcoming the company has is their weaker presence on certain online platforms, such as YouTube, where they only have 2,741 subscribers (YouTube, 2019). It is evident that the company needs to take better advantage of these online channels in order to establish a stronger brand authority. 

Who Is Best and Why

MADE.COM has the best approach to inbound marketing due to the fact that it has a digital-first business model. You cannot buy MADE.COM furniture in-store, only online, and in doing this, they stay in-tune with a millennial generation who feel more comfortable buying online. They also utilise social listening strategies in order to be reactive to current retail trends (Nazir, 2019). Listening and reacting to what customers want means being able to produce more of what sells and less of what doesn’t and this showcases a shrewd marketing strategy. 

How They Could Improve

IKEA needs to establish a simple online order and home delivery process for every single one of their products if they wish to sustain their reputation. Updating their online buying process would also allow them to better cater to a millennial target market who live inner-city and do not own a car. 

MADE.COM could develop a stronger presence on YouTube by uploading more consistently. Revising their video content, as well as collaborating with other likeminded brands or influencers, could help to increase engagement and subscribers. 

Reference List

Oyos, R. (2013) ‘5 Content Marketing Strategies Ikea is Doing Right’, Spiralytics [Online], 26 November, Available at: https://blog.spiralytics.com/ikea-content-marketing-strategies/ [Accessed 7 June 2019].

Duncan, K. (2019) ‘7 Lessons You Can Learn from IKEA’s Killer Marketing’, OptinMonster [Online], 21 April, Available at: https://optinmonster.com/lessons-you-can-learn-from-ikeas-killer-marketing/ [Accessed 5 June 2019].

MADE.COM (2019) Ideas [Online], Available at: https://www.made.com/inspiration [Accessed 8 June 2019].

Erkilic, G. (2019) ‘IKEA’s Digital Marketing Strategy: 8 Things to Know About the Company’s Success’, Digital Agency Network [Online], 14 January, Available at: https://digitalagencynetwork.com/ikea-digital-marketing-strategy/ [Accessed 7 June 2019].

YouTube (2019) MADE.COM [Online], Available at: https://www.youtube.com/user/made [Accessed 4 June 2019]. 

Nazir, S. (2019) ‘Big Interview: Jo Jackson, Chief Creative Officer, made.com', Retail Gazette [Online], 17 April, Available at: https://www.retailgazette.co.uk/blog/2019/04/big-interview-jo-jackson-chief-creative-officer-made-com/ [Accessed 7 June 2019]. 


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