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Analyzing the scrap metal recycling industry and various e-marketing efforts assignment

Business Results3 Resources Available for Marketing Efforts3 PESTLE Analysis3 Political Analysis3 Economic Analysis4 Social Analysis4 Technological Analysis5 Legal Analysis5 Environmental Analysis6 SWOT Analysis6 Strengths Analysis6 Weaknesses Analysis7 Opportunities Analysis8 Threats Analysis8 Competitive Review9 K Recycling Services ??? www. kkscrapmetal. com9 Competitor 1: Triple M Metals LP ??? www. triplemmetal. com10 Competitor 2: American Iron and Metal ??? www. scrapmetal. net10 Competitor 3: Thomson Metals and Disposal LP ??? www. thomsonmetals. com11 Google Search Comparison11 Tier 1 Strategies12 Segmentation12

Targeting12 Differentiation13 Positioning13 Objectives for the E-Marketing Plan14 Recommendations14 Website14 Email15 Implementation16 Budgeting & Sales Forecast17 Evaluation18 Customer Perspective18 Internal Business Perspective19 Learning and Growth Perspective19 Financial Perspective20 Conclusion20 Works Cited22 Appendix A ??? K Recycling Services Values26 Appendix B ??? K Recycling Services Website Visitors28 Appendix C ??? K Recycling Services Website Page Source28 Appendix D ??? K Recycling Services Website Key Words29 Appendix E ??? K Recycling Services B2B Segments30 Appendix F ??? Implementation Plan ??? Gantt Chart32

They do however have a Google Analytics account that they monitor periodically to see basic key performance indicators. Business Results In FY2010, K&K Recycling Services had a revenue growth of 77% and volume growth of 44%. This indicates that the volume growth accounted for 55% of the revenue growth while price increases, prevalent in a commodity business, accounted for 45% (Sweeney). Resources Available for Marketing Efforts K&K Recycling Services currently has 50+ employees and utilizes a modern ERP system, a Microsoft platform with CRM at the front end and GP Accounting system on the back end.

Marketing-wise, K&K Recycling Services does not currently have a marketing budget. However, K&K would consider allocating $1, 000 – $2000 a month towards e-marketing efforts. Furthermore, K&K has a small payroll of 50+ employees however none of the employees are dedicated to Marketing and K&K does not have a Marketing department. K&K would consider hiring or outsourcing marketing efforts to test recommendations that are provided in this Marketing Plan. K&K Recycling Services also allocates funds to its direct sales efforts and also own a box at Air Canada Centre and GM Oshawa Center that is used for entertaining clients and prospects.

In addition, competitors are also using technology with significantly reduced melt loss as well as technology that uses low-grade scrap aluminum (Triple M Metal LP, par. 3). ??? In order to produce high quality, value-added, recycled metal products through enhanced recycling, Natural Resource Canada is continuing R&D efforts to overcome technological challenges. The purpose of this technology is to identify and assess the status of major sensing technologies for the separation of various materials (e. g. , ferrous and nonferrous metals, glasses, rubber, plastics, etc. from scrap metal and for the identification of impurities in molten scrap metal (Natural Resource Canada ??? Metals Recycling Technology, par. 6) Legal Analysis ??? The Canadian Export and Import of Hazardous Wastes Regulations are key elements of federal legislation affecting the Canadian metal recycling industry (Latest amendment: 1994). A metal recyclable is considered “ hazardous waste” if it exhibits any one of nine hazard characteristics as defined under the Transport of Dangerous Goods Regulations (Smith, p. 11). ??? Canada-U. S.

Agreement on the Transboundary Movement of Hazardous Wastes ensures that the treatment, storage and disposal of hazardous wastes are conducted in a manner that properly manages the risks to public health, property and environmental quality. The Canada-U. S. Agreement controls and monitors the flow of hazardous wastes between the two countries (Smith, p. 13). ??? Bill 205, Scrap Metal Dealers and Recyclers Act, passes second reading in Parliament. This law will now force all Alberta recyclers and dealers of scrap metal to collect personal identification (i. e. ake and model of the vehicle transporting the metal) in all transactions in an effort to stop scrap metal theft (Zickefoose, par. 3). Environmental Analysis ??? Metal recycling conserves energy, defers the development of less economic mineral resources, and eases the burden on municipal landfills (energy savings, virgin material savings, emission reduction, water pollution reduction, mining waste reduction) (Smith, p. 11). ??? As a result of lowered energy usage, less greenhouse gasses are emitted. Therefore, recycling metals is an advantage to reducing the impacts of global warming.

This translate into a loss of potential dollars due to the exchange rate differences. Competitive Review K&K Recycling Services ??? www. kkscrapmetal. com K&K Recycling Services currently partakes in a very limited number of E-Marketing strategies which consist of a company website, search engine optimization (SEO), and the use of Google Analytics. The company website is very simple and straightforward ??? contact information, tabs, and links can be easily seen and located, however, the site lacks professionalism with its layout, oversized text and images, as well as its overall design.

With the help of Google Analytics, K&K Recycling Services can measure how effective SEO strategy has been ??? for example, we see that Google is the source for over 90% of visitors that go to the K&K Recycling Services’ website (Appendix B). By using SEO with Google, K Recycling Services ensures that their search engine results will be improved. By using Meta tags (such as keywords), the company can also increase its rank on Google’s search engine results page (SERP). Currently, the company uses many key words, which include “ scrap metal,” “ ferrous,” “ non-ferrous,” “ waste management,” “ demolition,” “ Ontario,” and many more (Appendix C).

There are various upgrades needed to give it a more professional and mature look. The K&K Recycling Services’ website is still ahead of this company’s overall design of the site. This company, like the first competitor Triple M Metals LP, also does not use keywords (not seen through page source view), which puts their SERP ranking far lower than other sites in the industry. Since the site does not offer anything interesting, and has not been updated since 1999, the SERP ranking is even lower then it could potentially be. Competitor 3: Thomson Metals and Disposal LP ??? www. homsonmetals. com The third top competitor is Thomson Metals and Disposal LP, a company that partnered with Murray Demolition and Quantum Environmental in 2007, to create the strongest industrial service offerings in the nation. Thomson Metals brings its scrap metals recycling expertise, from 1980, to the partnership. Thomson Metals and Disposal LP still maintains its own website, along with being featured on the Quantum Murray website. For this analysis, we will look solely at Thomson Metals and Disposal LP’s E-Marketing efforts, which consist of a website and the use of SEO.

Based on our experience of the site, the website images and layout are appealing, however, there is a lack of information about the company itself (its history, its expertise, and about its new partnership with the two companies mentioned previously). While the Quantum Murray logo is featured on this site, there needs to be a stronger linkage between the different sites that make the partnership clear. In terms of SEO use, the site includes many keywords within its title instead of using them specifically as keywords.

B2B ??? The optimal target group would be to target decommissioning services. There have been many new entrants into the rail road industry, each of which require decommissioning services and K&K Recycling Services praises themselves in having an expertise on decommissioning rail parts (Sweeney). There have been many recent projects in Alberta, where K&K Recycling Services can effectively decommission work (Sweeney). Automotive and OEM decommissioning are also great opportunities that K&K Recycling Services has been trying to pursue. This Segment can be broken down into smaller geographic segments.

K&K Recycling Services is also capable of servicing a large geographic market, and using e-marketing tools can be a cost effective way to provide K&K Recycling Services with a larger clientele of decommissioning services. Differentiation In the scrap metal industry, K&K Recycling Services’ differential factors include having great relationships with its clients (CRM), and the company’s cash availability (Sweeney). K&K Recycling Services is not the oldest, most environmental, or cheapest in the industry and thus needs to leverage its unique selling proposition.

The success of this objective will be measured by the number of customers who sign up for the website’s mailing lists, as well as the feedback they will leave on the website. Recommendations Website A website is an electronic brochure that allows for visitors to gain company and product/service information (Strauss, p. 295). To meet the objectives of increasing customer satisfaction, as well as increasing awareness, it is necessary to make certain improvements to the current K&K Recycling Services website.

To begin, it is noteworthy to mention that the Alberta market for scrap metal recycling services and sales is growing (Sweeney). In addition to currently serving the Alberta market, the company also serves the Toronto market, as well as the US market. Taking these points into consideration, it is crucial that the company enhance its current website to include pages for each geographic location which will ultimately provide a more satisfied user experience. By creating pages for each geographic area that the company serves, it can satisfy each of its target audience’s better then competitor sites (Strauss, p. 96). What’s more is that the organization of the site using tabs will enable visitors from each of these regions to easily gather information about the specific services, locations of scrap yards, and contact information that apply to them (Ezine Articles, par. 4). Having this addition of pages will also allow the company to enhance its website quality (online spiders recognize this) and increase the use of keywords (keywords on each page), thereby increasing its searchability and rank on search engines (Entrepreneurs-Journey, par. ). To build on the above recommendation to enhance the quality of the website through additional pages, (and keywords on each), K&K Recycling Services can also provide greater information on its services and quality content. K&K Recycling Services currently disseminates information in regards to the services it provides via its online website. In order to further create customer value online, we recommend that K&K Recycling Services provide more detailed and specific information on each service it provides to potential clients.

The average cost of an email is message is less than $0. 01 (Strauss, p 304)”. Email marketing will allow for K&K to have conversations with individual customers in a way to help develop a better relationship, in addition to improving repeat business. Lastly K&K can promote the automatic delivery of emails by emphasizing how K&K is helping reduce waste and keeping the environment clean. Implementation Assuming that K&K will receive our E-marketing plan during the last two weeks of April, implementation of our recommendations will begin in the first week of May.

Ken Sweeney, K&K Recycling Services’ consultant, will need to contact Karmatize in order to get their assistance in improving and updating their company website. According to Mr. Justin Lee of Karmatize, the specific tasks related to such an endeavor will require an average of two weeks to a month to complete. Since SEO is a trial and error process to see which techniques work best for the company, Karmatize will need to maintain the website for at least three months after it has been improved.

Evaluation Using the Balanced Scorecard (Strauss and Frost, 38-42), the following are quantitative and qualitative metrics K&K Recycling Services can use to monitor the progress and success of the E-marketing plan. Goals and metrics in each perspective are arranged in order of relevance. We recommend K&K Recycling Services to measure these goals at least, on a monthly basis to ensure they are being met accordingly. Customer Perspective Awareness: Unique visitors to the website each month, Percentage of customers who opt to receive company emails (Adoption Rate), Percentage of email addresses collected from potential customers through the website, Increase link traffic from emails to web site ??? Customer satisfaction with web site: Number of visits to the site, Length of visit ??? Building customer relationships: Customer retention percentage To be able to optimize customer value, K&K Recycling Services has to build customer awareness through email marketing and improving its website.

Using cookies, awareness can be measured through the number of distinct users who have visited the website over a month. This indicates the effectiveness of the SEO techniques employed by Karmatize on the website. Percentage of customers who opt in and percentage of email addresses collected shows the magnitude of the reach of email marketing and effectiveness of SEO techniques respectively. Percentage of opt-ins not only signifies awareness of the company’s new communication method but also customer loyalty and trust as those who do opt in convey acceptance of the company’s business activities.

When Email marketing is initiated it is crucial the company employees ensure that they appropriately prioritize responding to emails in a timely manner. Learning and Growth Perspective ??? Online service innovation: Percent of sales from new website features ??? Successful penetration of new markets: Percentage of firm’s sales in each new market ??? High Internet lead-to-sales conversions: Revenue per sales employee from Internet leads, Number of conversions from online leads Increased value in knowledge management system: Number of accesses by employees, Number of contributions implemented from employee and customer feedback ??? Continuous improvement in CRM system: Number and type of improvements over time As discussed in the internal perspective K&K employees brainstorming content ideas for the website, will help initiate K&K cultural attitude related E-marketing techniques as they will see how Karmatize has implemented their ideas into the K&K website and how their ideas have affected the monthly SEO reports.

This will instigate employees to gain interest in using E-marketing techniques to strengthen K&K customer relations. K&K email marketing also builds on changing the workforce attitude towards E-marketing techniques. K&K will need to provide continuous training and learning opportunities for both recommendations, which will speed the adoption and effective use of the e marketing techniques. Financial Perspective ??? Sales growth: Dollar volume of sales from one time period to the next ??? Increase market share: Market share percentage Lower customer acquisition costs: Costs for direct marketing divided by number of customers An indication that the E-marketing plan is effective is if profits and market share increase positively. If sales grow from one year to the next and if market share percentage increases, then it means the plan has been implemented successfully. Furthermore, with an enhanced website and through email communication with customers, the cost of acquiring and maintaining customers become lower thereby enabling the firm to save and use its resources towards another purpose. Conclusion

K works with customers to solve their | |???? | problems in creative ways. | | Respect: | K understands that treating others with respect and care is important. This holds true for customers, employees, | |?? | suppliers and other key constituents in the community. | | | K is long term supporter of the Children’s Aid Foundation and Community Care’s ‘ Meals on Wheels’ program | Source: “ K&K Recycling Services ?? Mission & Values | Scrap metal recycling services for Ontario (Toronto, Pickering and GTA), Western Canada and Northeastern United States.. K&K Recycling Services | Scrap metal recycling services for Ontario (Toronto, Pickering and GTA), Western Canada and Northeastern United States.. N. p. , n. d. Web. 26 Jan. 2011. . Appendix B ??? K&K Recycling Services Website Visitors Summary: Google Analytics shows that 91. 90% of visitors on the K&K Recycling Services website come directly from the Google search engine. Source: “ Google Analytics – Dashboard . ” Google Analytics. Google, n. d. Web. 1 Feb. 2011. . Appendix C ??? K&K Recycling Services Website Page Source