Development of an online store promotion strategy in the conditions of digital transformation of society

Abstract

The aim of the article. The purpose of the article is to investigate the relevance of the problem of developing strategies for the promotion of online businesses, to conduct a bibliographic analysis for a better understanding of this topic, to justify the feasibility of using Social Media Marketing in the context of the digital transformation of Ukrainian businesses.

Analyses results. The application of Social Media Marketing (SMM) affects the efficiency of the business, maximizing profits, attracting new customers, and promoting the business itself.  It also plays a significant role in the evolution of the digital economy and digital transformation. Thus, it is important to analyze and study this essential tool in detail, as well as the peculiarities of its formation and use in various campaigns, start-ups, and new businesses. At the moment, only a limited number of scholars are focused on thinking about and researching the development of online business promotion strategies. However, based on the needs of today's digital society, the number of scientific papers is growing every year. Therefore, the issue of evaluation of Social networking growth and the use of SMM in business activities becomes all the more crucial. The authors have traced in the paper an accelerating trend of SMM research in Ukraine and all over the world, employing the method of bibliographic analysis. The article details several methods of promotion via the Internet and focuses on the features of promotion through social networks. A detailed implementation of promotion through social networks has been provided in the research on the example of developing a promoting strategy for the online store of men's accessories "SKILL".

Conclusions and directions for further research. The researchers applied the method of "5W" by M. Sherrington to determine the segments of the target audience of the online store "SKILL". The paper has detected that understanding the target audience helps to gain a competitive advantage in the market through properly targeted marketing efforts.  The authors implemented a SWOT analysis to identify weaknesses and strengths, as well as opportunities and threats of the issue. The identification of the major problems, which were affecting the online store's progress, gave impetus to the implementation of SMM promotion tools. These tools proved to be efficient, resulting in a sales increase, they established the brand's reputation and did the brand's promotion in general. By examining the development and implementation of the promoting strategy, the article revealed that it is appropriate to use that for companies and online stores, and hence advisable.

Keywords: Social Media Marketing, e-commerce, promotion, digital economy, digital business transformation, online stores

DOI: 10.15276/mdt.7.3.2023.10

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