Corporate clients across The Greater Toronto area are about to earn how to truly, “Impress with Empress. ” The Empress Of Canada is a chartered vessel located in the Toronto Warburton, ideally suited to host up to 489 guests. The boat caters to its clients in hosting a variety of cruises that include: lunch/ dinner cruises, booze cruises, corporate gatherings, weddings, or special event cruises.
However, The Empress of Canada has particularly run into difficulties at attracting the corporate clients into their business. Therefore, the current predicament is that The Empress of Canada is inefficiently able to target new and existing corporate clients into their business. Reaching and educating the corporate client on why they should choose The Empress of Canada over its competitors is essential to increasing the overall demand for their lunch/ dinner corporate cruises. Our solution is simple and effective.
We will focus on Empress of Canada’s bra ending position, in that it offers corporate clients a premium, formal luxury through a superior customer service experience, which serves as a key differentiator from the competing boats in the marketplace. We will then use this positioning to provide Empress with better communication strategies that will focus on boisterousness’s selling n The Greater Toronto Area, and ultimately gain the attention Of corporate clients that Empress Was previously unable to capture.
The main goal for our campaign is to raise awareness among the target market of the possible uses of The Empress of Canada services, and will be done through three mediums that include: print advertisements in the February and March 2015 issues of The Toronto Life magazine, direct emailing to existing customers using personalized messages to express gratitude and offer them alternative suggestions to meet their business entertaining needs, and lastly, social media improvement, particularly through Faceable, which will reinforce the large number of options corporate clients have when choosing The Empress of Canada.
We anticipate that this campaign will yield a considerable expected increase in revenue, seeing upwards of a million dollars in revenue, when executed over a tenement period, given our campaign strategy. The short and longer benefits that The Empress of Canada will ex prince are substantial and will ultimately propel the business into attaining a more desirable corporate client database with significantly increased revenues. PART 1: Situational Analysis PEST Politically The Empress operates on the Toronto harbor therefore they must follow the rules and regulations of the Toronto port authority.
Other outside factors that affect The Empress would be fuel costs as this is the result of political actions. These fuel costs affect the price o f operating the Empress and in other provinces the price of fuel has resulted in the hiking of fares to cover fuels costs. (BC Ferries hiking fares, 2014) Environmental Weather affects the empress because they have seasons where they operate and ones where they have maintenance. The season for which they operate is from April to October, peak times being June to August.
They still operate during September but many people don’t realize this and miss out on one of the most beautiful times to be on the lake. Coloratura Social factors greatly impact Empress, as it’s essentially a banquet hall and seen as a destination for social events, it has to Stay relevant for event seekers and planners. Corporate culture is becoming more important, and employee morale is becoming a significant focus to many industries. Companies are now recognizing “Departing from the customary routine of meetings and cubicle life can go a long way toward building morale. (ERP, 2014) Companies see value in investing in a company party as it is a chance for them to socialize with their peers and re cognizance personal and company wide achievements. Corporate Cruises provide a clientele with a larger budget, potential repeat customers and possibly a professional referral. They have to communicate that Empress is the destination for corporate events because Of the care and effort they put into their work, and the professional manner in which they will be ha ended. Technological The expanding digital landscape is changing how companies approach their business.
More companies are looking to social media and the internet for ways to market their business. “Whether it is creating a winning online experience or enabling mobile commerce, digital marketing is a hot topic, with most companies either revamping or implementing new strategies. ” (Osaka, 2014) Many consumer look to the internet to find out about companies and compare and contrast them, and this technical change should be prioritize in most business today. Competition Direct Competitor 1: Marinara Cruises Marinara has numerous fleets for different occasions and times of year.
They run through the winter, making it possible to host holiday parties on the boat with heating. Marinara also has different menus for different times of day and events, and is also flexible for food accommodation needs. In addition, Marinara offers demodulating packages and team building picnics excursion outlines with an itinerary; the willingness, customer friendly brochure is available in PDF online. Furthermore, the company is the largest hospitality cruise operation in Canada, and also has received numerous awards and has professional associations (Torn to. Mom, 2014). These factors make Marinara a strong leader of the cruise operation sector in Toronto. However, Marinara’s soft spot is its ling point Of catering to various audiences. This could work against attracting corporate customers. In particular, offering children friendly option s such as children’s menu and optional goodies, as well as student discounts, may push away some clients who are looking for formal luxury and wish to avoid any risks of being associated with a younger, less mature and sophisticated company.
Direct Competitor 2: Yankee Lady Yankee Lady’s largest thriving point is being a warm, familiarized local company. Their two yachts are designed and constructed in Toronto by the owners, and the larger one has capacity of 300 people; it s smaller than Marinara or Empress, but large enough for corporate social events. Yankee Lady’s website has a very customariness, informative “Team Building’ page, which discusses values about social aspects of workplace and corporate culture. However, there are strong signs that Yankee Lady has branding issues and a lack of effective communication skills.
For example, on the official website, Yankee Lady cites positive feedback from past corporate clients: BMW, Mini, Nikkei and Dolce & Cabana. This suggests Yankee dad is seeking to associate itself with premium and luxury brands, as sees website, which stresses luxuriousness of the brand as well. However, this positioning is inconsistent with some aspects of the brand. The name “Yankee Lady” itself is very casual and fails to make consumers associate the brand with weighed, premium values.
Moreover, the first section shown under the “menu” tab on the website is “on a budget”, and one of the dishes is named “cheap and cheerful”; corporate would not want their employees and clients to see that and perceive the company as being cheap for choosing Yankee Lady. Unprofessional is also seen in word choices on their Faceable postings. Secondary & Indirect Competitors The secondary competition consists of other cruises operating businesses in Torso’s waterfront.
Any competitor in this category either: has distinct branding from Empress of Canada, Yankee Lady and Marinara, operates in a smaller scale than the three companies, or both. In addition, we have identified indirect competitors of the Empress of Canada; this category includes a variety of businesses in Toronto that offer/can be used for corporate social events (please refer to exhibit? ). With increased awareness for the importance and benefits of social aspects at workplace, many local businesses remote the use of their venues for corporate social events.
The top three results of Google’s search performance with the key. ;odor “corporate social events in Toronto” are of articles making “top 10” and “top 6” recommendations for organizations offering team building activities: 1) 1 0 great ideas for corporate events & afterward socials in Toronto (Ratchets d, 2014) 2) 1 0 Toronto Team Building Activities for corporate Groups (warrior, 201 1) 3) 6 Local & Affordable Team Building Activities in Toronto (Etcetera, 201 3) Recommendations vary in the level of physical activity, luxuriousness and affordability.
Empress is not mentioned in either one of the three, while on the other hand, Spin, a pooping social club located in downtown Toronto, is named in each of them. The indirect competition of Empress is as significant as the secondary competition, if not more. This is because corporations’ root purpose of holding such events lies within motivating/showing appreciation to their employees or clients; their choice of venue or activity is a medium that helps them achieve it most effectively, and it does not have to be a cruise boat.
Comparing Key Findings on Competitors to Empress of Canada In inclusion, no competitor truly offers the bundle of luxury, the edge of the city getaway and the location convenience, tailored specifically to Corporate Canada. Empress of Canada has the strongest brand consistency, representing luxury, class and style, and its premium values are supported by the red carpet service and superior customer service experience they provide. However, Empress of Canada also has significant soft spots in terms of its online presence, which may result in losing customers to competitors.
First, it is not featured on the Warburton official website, whereas boats of Yankee Lady and Marinara, amongst secondary competitors, are listed with pictures and website links. The Harbor-front project is funded by the municipal government, thus it is a credible information source that consumers can use for research. Secondly, Empress does not show up on the first page, when Google search is performed with the keyword “Toronto cruises”; the search results are occupied by Marinara and secondary competitors. Last and most importantly, social media activities and customer engagement is inadequate, especially compared to Marinara.
Empress needs to seek or more effective communication strategies, in order to defend itself from the competition (please refer to exhibit? ). PART 2: Marketing plan Target Market The Empress of Canada will use a small segment strategy that focuses on boisterousness’s selling. The target market will be businesses with over 100 employees located within the Greater Toronto Area. These companies may be looking to run staff parties or staff appreciation events, or use the boat as an opportunity to meet with their clients.
The focus will be on older and more refined companies which are looking for quality experiences and are more likely to act as return linens, while likely providing referrals to other organizational departments an d companies. Branding At the core of the Empress of Canada is a focus on quality of service. Both owners play a prominent role on the cruise and make it a priority to always offer superior customer service; from the booking to the boarding the experience at Empress of Canada is always top notch. This quality of experience will be the focus of the companies branding.
The customer experience serves to differentiate the Empress of Canada from other competing boat cruises, especially in regards to their positioning towards corporate clients. Businesses shouldn’t have to worry about their companies experience when booking with Empress of Canada, they need to know that they are in good hands, and that they will get the best possible experience. Our Marketing efforts will aim to position Empress of Canada as a premium, formal luxury through a superior customer service experience.
All media and advertising should be focused on this new branding strategy including this new identity in any outgoing promotions. The current tagging of, “Long Live the Fun” (found via Twitter cover photo) is not reflective of this business and our desired positioning of being “the loyalty’ of the harbor cruises. In order to better meet the brands positioning, while keeping the quality top of mind for prospective and current customers, the tagging that should be implemented is, “Impress with E empress”.
This helps to show what the Empress does for the customer, as corporate clients will want to show off their status and make sure their own clients remain with them, they will want to impress them, standing out from their own competition. Communication Strategy The main goal for this campaign is to raise awareness among the target market about the variety cruise options available when using the Empress Canada services, which will encourage both new clients to take their first cruise as well to retain current clients.
The target market for this particular campaign is corporations within the Greater Toronto Area, who will be reached through a variety of communication channels and mediums. This strategy will be supported by the use of print advertisements, direct emails, and a variety of Faceable posts print The first tactic that will be utilized in this campaign is print advertising. The goal of these print advertisements is to gain new customers that ay not have heard of Empress before or have not yet considered it for a corporate gathering.
Toronto Life Magazine was chosen as the publication in which to run the advertisements, as it reaches an audience of 795,000 people within the GTAG, with an average circulation of 90,563 per issue. Its primary readership average age is between 2554, with an average household income Of over $100,000 (Toronto Life, 2013). The magazine is released monthly, so it has a longer shelf life than weekly magazines or dally newspapers. This is a strong benefit for Empress, as the life of the ad will remain for the duration of at least a month. Toronto Life’s purpose as stated on their website is as follows: ” Toronto Life and tortellini. Mom are the print and online destinations for people who want to get the most out of Toronto. Our goal is to add to their knowledge of the city, helping them enjoy its pleasures and cope with its complexity. ” (Toronto Life, n. D. ). The readers of this magazine look to it as a so urge to find ideas and suggestions for quality dining, entertainment, and events, which are all well in line with the services that Empress can offer. Empress will place its ad in the “features” section with premium ligament in order to better reach corporate groups and to associate with other businesslike offerings.
If not directly reaching corporations, the rationale behind this placement is to reach a young professional demographic that may see the ad and then suggest Empress to their manager or boss for a corporate gathering. The cost of running a 1/3 page square print advertisement in Toronto Life magazine is $6,885, with an extra cost of $690 for premium placement (please refer to exhibit 3) (Toronto Life, 2013 The intent with this campaign is to run the advertisement twice: once in February 2015 and once in March 2015.
The reasoning behind this timing is because corporations usually have their budgeting for the year finalized in February, so they are then able to start allocating their resources to specific costs, events, etc. February to May is usually the time in which most boat cruises are booked for the summer months, so it is important that Empress can advertise within this time frame to encourage more corporations to fill the available cruise time slots. An average advertisement consultation cost is $4000 for the creation of the ad.
Included in Appendix is a mockup of a potential advertising concept (Exhibit 4). This mockup was created with the branding and positioning of the campaign in mind; it emits the idea of an upscale, luxurious boat cruise that would appeal to larger corporate audiences interested in a classy and elegant experience. The ad itself includes a description of possible ways in which corporations can use the services that Empress has to offer, including themed events, staff meetings, staff parties, retirement parties, and customer appreciation parties.
As stated previously, the main goal of this campaign is to create awareness and inform our target market of differentiate in which report clients can use Empress, which is what this ad is achieving. There are minor potential risks involved with this aspect of the campaign. The first is that the reach of the magazine is far broader than Empress’s target market, which means that cost s would be less directly targeted towards actual potential clients. With print advertising, it is also difficult to measure actual return on investment.
It is important that the ad catches the eye of the reader and does not get lost in the clutter. Lastly, with a breakable response rate of just 13 bookings, there is a very limited risk of a negative return on marketing investment. Email The second part of our communication strategy is to focus on retaining past clients and encouraging repeat purchases (please refer to exhibit 5). This will be executed through the use of an email platform, with a similar design aesthetic to the print ad campaign. The general purpose is to use a personalized message to ensure all past clients feel valued and appreciated.
The email will initially act as a follow to the client’s past purchase, thanking them for their business and asking to hear feedback on their experience with Empress. The second part of the email will stimulate future sales by suggesting new ways to SE Empress for their business entertainment needs. For example, an email to a client that once used the cruise for a company holiday party may include suggestions to host client parties on board as well. A final element oft he emails will include a link to a brief survey asking the client to provide feedback on their experience with Empress.
These survey responses will create an internal data source from which Empress can draw information to better their services in the future. This tactic will use the customer’s familiarity and positive association with the brand to grow sales. Rather than blindly emailing thousands of encounters off of an email list, it will prove much more efficient and profitable to focus efforts on happy past consumers. The openhanded rate will be much higher for those familiar with Empress, compared to a unconsumed who would very likely delete an email from an unfamiliar company without reading it.
Targeting the email strategy to encounters and resulting in a high malediction rate could tarnish the Empress brand, as the emails could be seen as spam by potential clients. A m ajar advantage to an emailing strategy is that statistics regarding the penetrate of these emails is fully available to Empress. Conveniently displayed will be figures describing exactly how many customer s opened the email, how many deleted it without opening, and how many replied or clicked through to the company website via the email.
Furthermore, targeting past clients means that the contact information to send the emails is already available. Empress will not have to purchase a costly database from a third party source. Overall, this strategy is extremely inexpensive as the majority of spending will be going toward designing the email. Furthermore, it is nearly less costly to focus on retaining past customers rather than gain new ones. This tactic is efficient, costiveness, and will have a high return rate. There are minor risks to this strategy.
The first is that there is still a possibility of the emails being ignored and deleted, especially if the mail unintentionally ends up in a client’s spam inbox. The possibility of this is extremely low as it is expected that all past clients would have Empress in their email address book. If this does happen, it will also be easy to track through the email metrics regarding deletion rate. Secondly, it may be seen as risk to invest in a marketing tactic that is not actually expanding the client base.
This is easily justified as targeting past, satisfied clients will likely generate more future sales with lower costs than targeting n ewe customers. Social Media Our final communication strategy focuses on improving The Empress of Canada’s social media presence. In this we will be specifically focusing on a Faceable platform, as this is the largest and most important social media platform and will have the largest impact. Growing a large following on such a medium can allow Empress of Canada to circulate managing and promotional material in the longhorn, at virtually no cost.