Nerdwallet's Marketing Analysis and Strategy Business Plan

Total Length: 927 words ( 3 double-spaced pages)

Total Sources: 6

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Competition

Marketing strategies are longstanding, progressive-leaning approaches to planning with the key objective of attaining a sustainable competitive advantage. They are approaches that are employed laying emphasis on the business and marketing efforts. Our company faces direct and intense competition from Colloquy.com, Points.com, and Nerdwallet.com. The key marketing strategy employed by Points.com is points exchange through its website and company blog. Consumers take part in several loyalty programs but the actuality is that the miles as well as points in all of these various programs never amass to amounts that in fact result to awards. In this regard, Points.com permits consumers to take all these various points and exchange them into whatever program is most valuable to them (Strategy Online, 2001). In addition, the company has a Points Hub where consumers can gain more information regarding life at Points.com, obtain practical advice and insider tips for earning additional points, miles and rewards from their different favorite programs, and spending them prudently (Points Website, 2018). The strength of this strategy is that consumers can see that they are valued by gaining first-hand advice. However, the weakness of this strategy is that it is not effective unless the consumers visit the website of the company.

The main marketing strategy employed by Nerdwallet.com is content marketing.

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In the contemporary, NerdWallet has a ranking of more than 1.3 million keywords, which surpasses major competitors such as Wealthfront. The company launches a search engine optimization (SEO) campaign that unveiled a significant amount of traffic. The company has been able to construct an empire of financial information (Moskov, 2017). One of the key strengths of this strategy is that there is a high likelihood of the website being seen by consumers while using search engines. By placing a greater focus on high quality creation, the business has the capacity to not only make advancements on their marketing efforts, but also in providing their audience with valuable and useful solutions to their problems. However, the shortcoming is that it fails to cast a wider net in seizing consumers as it solely considers those visiting the website.

The loyalty strategy employed by Colloquy.com is loyalty Colloquy delineates loyalty marketing as the determination to ascertain, sustain, and increase the yield from best consumers through long-standing, collaborative, value-added relationships. COLLOQUY has worked meticulously with its parent company LoyaltyOne, a prominent provider of shopper analytics and loyalty program strategy and activation, to provide its readers with the most pertinent, practical comprehensions into customer experience and loyalty. The company employs different marketing….....

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References

Colloquy Website. (2018). Introducing Colloquy Speaks. Retrieved from: https://www.colloquy.com/

Edmondson, B. (2018). Effective Facebook Marketing Strategies for 2018. Small Business. Retrieved from: https://www.thebalancesmb.com/effective-facebook-marketing-strategies-4157839

Ferrell, O. C., & Hartline, M. (2012). Marketing strategy, text and cases. Nelson Education.

Moskov, A. (2017). How NerdWallet Used Content to Build a $520 Million Company. The Hustle. Retrieved from: https://thehustle.co/nerdwallet-maggie-leung

Points Website. (2018). How a Loyalty Program Can Boost Your Business. Retrieved from: http://hub.points.com/how-a-loyalty-program-can-boost-your-business/

Strategy Online. (2001). Points.com offers points exchange. Retrieved from: http://strategyonline.ca/2001/04/23/sdf-20010423/

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https://www.aceyourpaper.com/essays/nerdwallets-marketing-analysis-strategy-business-plan