Harvard Case - Mekanism: Engineering Viral Marketing
"Mekanism: Engineering Viral Marketing" Harvard business case study is written by Thales S. Teixeira, Alison Caverly. It deals with the challenges in the field of Marketing. The case study is 16 page(s) long and it was first published on : Apr 3, 2012
At Fern Fort University, we recommend Mekanism adopt a multi-pronged strategy focused on leveraging its existing strengths in viral marketing and expanding its service offerings to cater to a wider range of clients. This strategy involves enhancing their digital marketing capabilities, particularly in social media marketing, content marketing, and influencer marketing, while simultaneously exploring new business models and market segments to ensure sustainable growth.
2. Background
Mekanism is a successful advertising agency specializing in viral marketing, known for its innovative and engaging campaigns that generate significant online buzz. The case study highlights their success with clients like Old Spice and their ability to create content that resonates with consumers and drives brand awareness. However, Mekanism faces challenges in scaling its business and diversifying its client base.
The main protagonists of the case study are the agency's founders, Jason Harris and Justin Usher, who are grappling with the decision of whether to maintain their niche focus on viral marketing or expand their services to attract a wider range of clients.
3. Analysis of the Case Study
To analyze Mekanism's situation, we can utilize the SWOT analysis framework:
Strengths:
- Expertise in viral marketing: Mekanism possesses a proven track record of creating highly successful viral campaigns.
- Strong creative team: The agency boasts a talented team of creatives capable of developing innovative and engaging content.
- Strong relationships with influencers: Mekanism has established relationships with key influencers in various industries, allowing them to leverage their reach and influence.
Weaknesses:
- Limited client base: Mekanism primarily focuses on a niche market, limiting its potential for growth.
- Dependence on viral marketing: The agency's success hinges on its ability to consistently create viral content, which can be unpredictable and difficult to replicate.
- Lack of diversification: Mekanism's reliance on a single service offering makes it vulnerable to market fluctuations and changes in consumer behavior.
Opportunities:
- Expansion into new markets: Mekanism can explore new market segments, such as B2B marketing, healthcare, or emerging markets.
- Developing new service offerings: The agency can expand its services to include traditional advertising, digital marketing, and brand strategy consulting.
- Leveraging technology: Mekanism can utilize advanced analytics and AI tools to optimize its campaigns and better understand consumer behavior.
Threats:
- Increased competition: The advertising industry is highly competitive, with numerous agencies vying for clients.
- Changing consumer behavior: Consumers are increasingly bombarded with marketing messages, making it challenging to cut through the noise.
- Evolving media landscape: The rapid evolution of digital media platforms and technologies presents challenges for agencies to adapt and stay relevant.
4. Recommendations
Mekanism should implement the following recommendations to address its challenges and capitalize on its opportunities:
1. Diversify Service Offerings:
- Expand into digital marketing: Offer a comprehensive suite of digital marketing services, including SEO, SEM, social media marketing, content marketing, and email marketing.
- Develop brand strategy consulting: Provide strategic guidance to clients on brand positioning, target market identification, and brand messaging.
- Explore new marketing channels: Experiment with emerging marketing channels like influencer marketing, podcast advertising, and mobile marketing.
2. Target New Market Segments:
- B2B marketing: Focus on developing campaigns that resonate with businesses and professionals.
- Healthcare: Leverage their expertise in creating engaging and informative content to reach healthcare consumers.
- Emerging markets: Explore opportunities in rapidly growing markets like Asia and Africa.
3. Leverage Technology and Analytics:
- Utilize AI and machine learning: Employ advanced analytics tools to analyze consumer data, optimize campaigns, and personalize marketing messages.
- Invest in data management platforms: Implement systems to collect, organize, and analyze data from various sources.
- Develop a data-driven approach to marketing: Base all marketing decisions on insights derived from data analysis.
4. Build Strong Partnerships:
- Collaborate with influencers: Develop strategic partnerships with key influencers to amplify brand reach and engagement.
- Form alliances with technology companies: Integrate with leading technology platforms to enhance their marketing capabilities.
- Partner with other agencies: Explore joint ventures and co-marketing opportunities to expand their reach and expertise.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: Mekanism's core competency lies in its ability to create viral marketing campaigns. Expanding into related services like digital marketing and brand strategy consulting aligns with this expertise.
- External customers and internal clients: The recommendations cater to the needs of both existing and potential clients by offering a wider range of services and targeting new market segments.
- Competitors: The recommendations help Mekanism stay ahead of the competition by leveraging technology, building partnerships, and diversifying its offerings.
- Attractiveness ' quantitative measures: The recommendations are expected to drive revenue growth, increase market share, and enhance brand equity.
6. Conclusion
By embracing a multi-pronged strategy that leverages its existing strengths in viral marketing and expands its service offerings, Mekanism can achieve sustainable growth and solidify its position as a leading advertising agency. The agency's ability to adapt to the evolving marketing landscape, embrace technology, and build strategic partnerships will be crucial for its long-term success.
7. Discussion
Alternatives not selected:
- Maintaining the current focus on viral marketing: This option carries the risk of stagnation and vulnerability to market fluctuations.
- Acquiring another agency: This option could be expensive and disruptive, and may not guarantee success.
Risks and key assumptions:
- Risk of diluting brand identity: Expanding into new services and markets could dilute Mekanism's brand identity.
- Assumption of successful integration of new services: Integrating new services and technologies requires careful planning and execution.
- Assumption of market acceptance: The new service offerings and market segments must be attractive to potential clients.
8. Next Steps
- Conduct market research: Analyze potential market segments and identify target audiences.
- Develop a comprehensive marketing plan: Outline the agency's marketing strategy, target audience, messaging, and budget.
- Recruit and train staff: Hire personnel with expertise in digital marketing, brand strategy, and data analytics.
- Invest in technology: Acquire necessary software and tools to support the new services and data-driven approach.
- Launch pilot programs: Test new services and market segments before full-scale implementation.
By taking these steps, Mekanism can successfully navigate the challenges of the advertising industry and achieve sustained growth and profitability.
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Case Description
The Mekanism case introduces students to a digital media production company specialized in creating viral marketing campaigns for advertising agencies and their clients (e.g., Microsoft, AXE, eBay, Toyota, etc.). Mekanism has grown tremendously from 2007 to 2010 in part due to the rise of viral marketing as a promising promotion tool for advertisers to reach and engage with consumers cheaply and quickly via word-of-mouth. Mekanism's president is contemplating expanding its services to other advertising content and media (e.g., televison, print, online) in effect becoming a full-service ad agency. This case is intended to discuss whether Mekanism should 'evolve' into an ad agency or keep focused on producing and distributing viral marketing content.
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