BSBTEC601I Review organisational digital strategy Assessment Task 2 – Performance and Skills Task summary This assessment task requires you to...

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Shubham answered on Nov 22 2022
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BSBTEC601
I
Review organisational digital strategy
)
    Assessment Task 2 – Performance and Skills
    Task summary
This assessment task requires you to review an organisation’s digital strategy and assess whether it is fulfilling its objectives according to relevant performance indicators.
This project requires you to complete the assessment tasks in a real workplace (your current workplace can be used). If you are not working, select a workplace you are familiar with.
Required
· Access to textbooks/other learning materials.
· Access to a computer and Microsoft Office.
· Access to the internet.
Note- If you do not have access to Microsoft Office, you must save your work as PDF before uploading.
Timing
The due date of this assessment is available on your learning management system.
Submit
· This completed workbook
Assessment criteria
· All questions must be answered correctly for you to be assessed as having completed the task satisfactorily.
Re-submission opportunities
· You will receive feedback on your performance from your Assessor. The feedback will indicate if you have satisfactorily addressed the requirements of each part of this task.
· If any part of the task is not satisfactorily completed, your assessor will provide you with written feedback to guide you on what you must undertake to demonstrate satisfactory performance. This assessment may be re-attempted twice. Your
resubmission must be uploaded within three (3) days of receiving your grade of “not yet satisfactory”. You must clearly display “Resubmission” on your resubmitted work.
· You have the right to appeal the outcome of assessment decisions if you feel that you have been dealt with unfairly or have other appropriate grounds for an appeal.
You are encouraged to consult with your assessor prior to attempting this task if you do not understand any part of this task or if you have any learning issues or needs that may hinder you when attempting any part of the assessment.
    Assessment Cover Sheet
    Student name:
    
    Student ID
    
    Trainer’s Name:
    
    Date Submitted:
    
    Student declaration:
    I declare that:
· I have read and understood all the information provided in relation to the assessment requirements to complete this unit, the instructions and the purpose and processes of undertaking this assessment task
· This assessment is my own work and where other’s works or ideas have been used, I have appropriately referenced or acknowledged them
· I understand that plagiarism is a serious offence that may lead to disciplinary action.
    Student signature:
    
Assessment Task 2 – Performance and Skills
Case Study: Bounce Fitness Group
    Bounce Fitness Company has now accepted that increasing their cash flow is important for sustained growth and to support a wider strategic goal of global market penetration. To this end they are looking to move further on their customer engagement strategy by exploring the potential revenue opportunities within their digital space (website and Facebook). As you have already explored social media, including paid, owned, and earned media as well as the user experience project around improving the usability of their digital assets. You have also highlighted a potential new eBusiness product ‘Micro-Loans”; the Board of Directors feels you are best placed to offer advice in this matter.
You have been asked to research the opportunities to turn their online presence into a revenue stream generating $1 million in profit in the first year. You are also instructed to act on behalf of Bounce Fitness Company to explore merchant accounts and payment facilities with financial institutions to support the digital strategy.
The project will include:
1. Research and develop a digital proposal; and
2. Negotiate a Merchant Account and Payment Gateway with a financial institution.
The Board of Directors have forecasted the following Key Performance Indicators (KPIs) for the digital strategy:
· Average $ sale per microloan: $1000
· Gross Profit Margin: 15%
· Conversion Rate: 0.12%
In addition to the relevant organisational policies and procedures contained on the Bounce Fitness simulated website, Case Study Organisation resources folder in Canvas and the background information about this topic you have learned throughout your term, there are a range of other documents and templates found in the Appendix section of this document to assist you complete the tasks.
General Instructions
There are three parts to this assessment:
Part A: Develop a plan for digital strategy review
Part B: Collect and analyse the information and review findings and outcomes
Part C:Document and distribute outcomes and recommendations of review
Part A: Develop a plan for digital strategy review
For this task, Bounce Fitness company has asked you to design a way forward on setting up a payment facility for their products page on their website. Bounce Fitness requires you to conduct some research and provide them a digital strategy proposal they can review at the next Board meeting. You will be required to present your research findings using the Appendix A: Digital Strategy Review Template.
You will find it useful to refer to the learning and activities in this module as they have sufficiently prepared you for this assessment task. You will also need to conduct some more research for certain areas of this proposal.
Important Note: To assist you, we have outlined each section of your digital strategy plan and the information you must include in each below. You should also include a title page, table of contents, introduction, and references in your plan.
    1
    Channel Analysis (100 words)
By way of introduction to your proposal, prepare a convincing argument that outlines the opportunities for monetisation of the digital channel for Micro-Loans for Bounce Fitness.
Access Bounce Fitness various policies, procedures and review the course materials to determine which three of the following reasons are the most compelling (and why).
· Create new revenue streams for Bounce Fitness and therefore improve Cash flow
· Increased reach for a fitness business – taking advantage of global connectivity by reaching customers located outside Bounce Fitness geographic target
· Offer new solutions to customer needs
· Increase ROI on the Digital Channel
· Increase customer engagement
· Sell more products and services
    1.1
    Channel Strategy – The Monetisation for Bounce Fitness(50 words)
Articulate the existing and proposed addition to Bounce Fitness channel strategy. Identify at least onepotential digital channel from the list below and give reasons for the consideration. You may want to consider devices in your answer.
· Company website
· Facebook
· Instagram
· EBay
· Fishpond
· Other social sites or intermediary (you must research and provide information)
· Devices (e.g., mobile, tablet, smart watches, PDAs, etc.)
    1.2
    Digital Marketing Considerations (100 words)
What Digital Marketing considerations exist? Include an assessment of paid, owned, and earned engagement opportunities for the new micro-loans business idea and ideally the role each of these including the opportunity you identify to enhance the monetization of the digital channel for Bounce Fitness Company.
    1.3
    Bounce Fitness Digital Ecosystem (100 words)
Consider the elements of a Digital Ecosystem from the course materials and prepare a discussion around Bounce Fitness Group’s Digital Ecosystem. Consider in your answer:
· How the monetisation of the Digital Channel may impact Digital Content, Customer Contact Management, Social Media, and Digital Marketing.
· The date and time when the digital strategy review plan was shared with stakeholders.
· The date when the plan was approved.
Part B: Collect and analyse the information and review findings and outcomes
    2.1
    Review Prior Experience
    2.1.1
    Internal Research – ROI on Existing Sales (50 words)
Calculate the ROI of Bounce Fitness Group’s Marketing Activity for microloans using the formula covered in this course (you must show your working out). Compare your answer to the ROI for the broader business. You should refer to the financial reports for Bounce Fitness as well as the information in this module.
    2.1.2
    Internal Research – Review Site Analytics (50 words)
Outline your approach to Site Analytics for Bounce Fitness. Include how Analytics can be accessed and what the reports can provide.
    2.1.3
    Internal Research – Review Inventory Management (100 words)
What approach would be appropriate for the management of inventory of fitness product stock availability. How does this approach cater for peak periods of customer purchasing which is expected with online payment facilities? Include in your answer what brand and financial risks become apparent here.
    2.1.4
    Internal Research – Review Resource Management (50 words)
How does monetization of digital channels impact our human capital (employees)? Does this strategy require more staff? Less staff? Staff with different skill sets? What are the impacts on other teams such as operations, customer service, finance, marketing, and product buying teams?
    2.1.5
    Internal Research – Review Cash Flow (50 words)
    
2.2
    
Conduct External Research
    2.2.1
    External Research – Competitive Intelligence (50 words)
Who will our competitors be in the micro-loan market? What sources of information can we tap into to remain abreast of competitive information like this?
    2.2.2
    External Research – Research Partners (50 words)
Identify three sources of research information which could help Bounce Fitness in the analysis and ongoing development of the micro-loan business and that market segment generally.
    2.2.3
    Legal Considerations and Organisational Policy (100 words)
What are Bounce Fitness Transaction Obligations, Service Obligations, Marketing Obligations, Privacy Obligations in relation to this monetization project? Identify issues related to digital strategy in the organisational documents accessed. Consider the World Wide Web Consortium (WC3) – what considerations should Bounce Fitness’s organisational policies and procedures have in this regard?
    2.3
    Identify Potential issues or barriers to Streamlined Transactions (100 words)
What are three issues to streamlined transactions and how could Bounce Fitness overcome them?
    2.4
    Benchmarking
    2.4.1
    SEO (100 words)
Using Google Keywords Planner Tool, locate high and low performing search terms for a micro-loans business. Identify long tail search terms (including number of searches per month, and competitiveness of each term as high or low). Are there any terms that could be a Key Opportunity for Bounce Fitness? You should include a screen shot of your keywords report.
    2.4.2
    Engagement (100 words)
Conduct an assessment on the current customer engagement using these methods:
1. Time spent on website and significant landing pages
2. Time spent on social media
3. Customers responses to posts, infographics, videos, and other content
4. Rates of customers sharing, tweeting and general social involvement
5. Sales opportunities
Include in your answer the concept of ‘social listening’. How can this be incorporated into benchmarking engagement and are there any social listening tools that you recommend?
    2.4.3
    Existing Website Traffic (30 words)
What approach to website traffic tracking and management would be appropriate for this monetization strategy? What key data points would be applicable (e.g., repeat visitors etc.)? Is this an opportunity to increase geographical reach (how and why)?
    2.4.4
    Establish KPIs (150 words)
When generating sales online, what are the 5 Important Considerations? How is this linked to Optimisation and provide an example based on the known criteria of $1Million profit?
    3
    Development Plan (Select & Implement Tools and Technologies)
    3.1
    Organisational Impact
    3.1.1
    An Agile Team (150 words)
Is there a need for an Agile approach? Explain Agile methodologies as they impact marketers. What are the benefits? Include the key benefits of taking an Agile approach over a Waterfall approach.
    3.2
    Development Plan
    3.2.1
    Customer Trust (100 words)
What is customer trust in this project and why is it important? What are three consumer recommended approaches to building trust? Are there any specific KPIs relating to retention and loyalty that could be considered important?
    3.2.2
    Ensuring Sales Success (100 words)
What are three methods for improving point-of-sale content with the purpose of closing the sale in the context of Bounce Fitness? What highlights can you draw upon from the existing Bounce Fitness? Is the website customer-centric (why)?
    3.2.3
    Content Strategy (150 words)
What recommendations do you have regarding content strategy as it relates to this monetization strategy? Should it be its own project or strategy or part of this project? How does content strategy planning affect transaction enablement in this monetization project? Can you provide a short example of a Content Plan? You may need to conduct some research to complete this section.
    3.2.4
    Project Plan (50 words)
Using a simple excel spreadsheet, develop a Website Development Plan with a timeline on Bounce Fitness website development in line with this monetization strategy. You may need to conduct some research to complete this section.
    3.2.5
    Testing and Stabilisation Plan (50 words)
Outline your approach to Alpha/Beta Testing (A/B Testing). Include in your answer at least three common errors that impede sales.
    3.3
    Transaction Enablement Partners (100 words)
Draw a flow chart/schematic showing the user journey and process between the customer and ETG for online purchase. Ensure you include the following elements:
· Customer
· Order process
· Online store
· Payment Gateway
· Payment Processor
· Bank
· Merchant (Bounce Fitness)
    3.3.1
    Payment Gateway (100 words)
Drawing from your ‘Compare Payment Gateway’ activity in this module, what is your recommendation for a particular payment gateway product? Include in your answer a comparison table such as that in your learning materials. As...
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