ferrari's next digital strategy
TRANSCRIPT
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FERRARI’S NEXT DIGITAL STRATEGY
Steven Teitelbaum
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WHAT’S THE GOAL?
• Increase Ferrari brand’s global following
• Increase number of potential customers in Ferrari fan base
• Increase brand recognition
• Ultimately, grow the Ferrari brand and increase sales
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WHO TO TARGET?
• Niche market
• Target market’s characteristics• Wealthy • Expensive Taste• Car Enthusiasts/Collectors• Racing Enthusiasts• Ferrari “Fanboys”
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THE PLAN OF ACTION• The plan is to go viral
• A wildly exciting video series of Ferrari ownership adventures
• High-production video series highlighting the joy of owning a Ferrari
• This type of video appeals to the target market
• Going viral means it would be shared all over the internet
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WHY THIS WILL WORK?
• High-production videos would highlight the brand’s most appealing characteristics such as…• High-Speed• Insane Luxury• Joy of Ownership
• The videos would be rich in content, thus containing enough value to be shared online by users
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IT’S WORKING FOR PENNZOIL• Pennzoil’s JOYRIDE video series is a success
• High-production videos of fast cars driving spiritedly
• The JOYRIDE videos have gone viral
• The JOYRIDE series has millions of views and are still gaining popularity as they’re being shared all over the internet
• https://www.youtube.com/watch?v=_WBxpalG10g
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FERRARI CAN DO IT BETTER• Ferrari has the opportunity to do it even better
• Ferrari has very attractive products, so there is already greater appeal than a motor oil company
• If Ferrari creates a high-production film series with exciting driving stunts, it would be shared rapidly online
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THE RESOURCES
• High-production films would require at least 4-6 to complete
• Each video could cost upwards of $2 million to produce
• A world-class team of producers and would be required to ensure top quality
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THE METRICS
• To measure success, Ferrari could track the number of…• Views• Shares• Likes and dislikes • Comments• Reposts• Mentions• Increase in social media following• Increase in website traffic• Increase in sales• etc.
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OPPORTUNITY