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

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BSBTEC601I


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:



ü
Average $ sale per microloan: $1000


ü
Gross Profit Margin: 15%


ü
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 one potential 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 well as a rationale of why you selected that
payment gateway product.











3.3.2



Financial Institution (50 words)




Conduct some research on Merchant
Accounts taking into consideration:




  • Volume
    Commitments

  • Contract
    Terms

  • Settlement
    Terms

  • EFTPOS
    considerations

  • Interchange
    rates and fees



And how all these relate to sales
volume of Bounce Fitness company.











3.3.3



eCommerce Platform (150 words)




Conduct some research on eCommerce
vendors. Provide a short evaluation of the platforms available and select one
that is suitable to large enterprises like Bounce Fitness. Outline why this is
suitable to Bounce Fitness’s monetization project.











3.3.4



Authentication &
Security Considerations
(100 words)




Explain authentication and security
requirements and why is it important factor to the monetization of Bounce
Fitness’s digital channels? Specify the authentication and security
requirements for the Payment Gateway you selected.











3.3.5



Analytics (100 words)




Outline your approach to analytics
relating to transaction data. Provide a summary of three systems that can be
used and the data available for analysis.





Part B:
Collect and analyse the information and review findings and outcomes



This part provides you an opportunity to display your ability to
negotiate with a financial institution for the purposes of merchant account and
payment gateway facilities.



Case Study: Bounce Fitness Company








As part of your research and to
ensure you have sufficient information to assist in your final evaluation
report to come later, you are required to engage with a financial institution
to determine review findings and outcomes and seek advice on merchant account
and payment gateway options for Bounce Fitness.



A meeting has been arranged between
yourself and Martin from First Choice Bank. Martin is a Business Banking
Consultant at First Choice Bank who specialises in SME and Corporate clients.
His role involves understanding customer’s business banking needs and
matching products and services to the needs and requirements of business
customers.



For Martin to put together a
Merchant Customer Proposal and prepare recommendations for actions to improve
digital strategy, he will need some information about Ethical Trading
company’s commercial operations and their needs in relation to merchant
accounts and payment gateways.



As you are representing Bounce
Fitness it is also a condition and expectation that you will present yourself
professionally.






For this activity, you will be simulating a negotiation meeting with a financial institution
wherein you will discuss preliminary findings and provide the Bank with
relevant information pertaining to Bounce Fitness, identified issues, its
operations and monetisation plans to help ascertain the best Merchant Account
and Payment Facility for the project.



There are five (5) recordings available under additional resources
for Task 2 on Canvas that you must listen to and write your response in the
space provided. A Transcript of each recording
is located below:




































































Recording 1



a)



Listen to Recording 1 from the
Banker at the financial institution.



b)



In your
own words respond to the Banker’s question.
Ensuring your response includes information about:




    • Bounce Fitness and its organisational
      XXXXXXXXXXstructure

    • Projected revenue for the year

    • Outline of the Micro-loan project

    • Forecasted revenue of the Micro-loan
      XXXXXXXXXXbusiness

    • Purpose of the meeting – seeking
      XXXXXXXXXXinformation to advise Bounce Fitness Board of Directors

    • Annual Profit KPI of the Micro-Loan
      XXXXXXXXXXBusiness

    • Reason why you are engaging a
      XXXXXXXXXXfinancial institution




Type your reply for Recording 1 using the
proforma in Appendix B: (Approx. 50 words)




Recording 2



a)



Listen to Recording 2 from the
Banker at the financial institution.




b)



In your
own words respond to the Banker’s question.
Ensuring your response includes information about:




    • Answers for both lines of business
      XXXXXXXXXXretail and digital channel)

    • Includes number of transactions per
      XXXXXXXXXXmonth, average dollar value for each sale

    • Potential for repeat transactions,
      XXXXXXXXXXconversion rates and margin




Type your reply for Recording using the
proforma in Appendix B: (Approx. 50




Recording 3



a)



Listen to Recording 3 from the
Banker at the financial institution.



b)



In your
own words respond to the Banker’s question.
Ensuring your response includes information about:




    • Transaction rates

    • Fees and charges

    • Interchange charge rates

    • Settlement of funds clearance times

    • Account Contract term



If you have time, it would be great
to find out:




    • POS or EFTPOS support available and
      XXXXXXXXXXTerminal charges

    • Foreign exchange transaction charges

    • Payment Gateway services on offer and
      XXXXXXXXXXsecurity features

    • Request a sample of a bank statement
      XXXXXXXXXXfor merchant accounts




Type your reply for Recording 3 using the
proforma in Appendix B: (Approx. 50




Recording 4



a)



Listen to Recording 4 from the
Banker at the financial institution.



b)



In your
own words respond to the Banker’s question.
Ensuring your response includes information about:




    • Whether there are savings for Bounce
      XXXXXXXXXXFitness by brining other business to the bank

    • Non-contact charges applicable

    • Reinforcing the Internet Merchant
      XXXXXXXXXXaccount that offers EFTPOS facilitates for retail stores and any
      XXXXXXXXXXapplicable rates

    • Focus is on online payment gateways
      XXXXXXXXXXbut whether further savings can be made with the adoption of retail
      XXXXXXXXXXoutlet EFTPOS facilities




Type your reply for Recording 4 using the
proforma in Appendix B: (Approx. 50




Recording 5



a)



Listen to Recording 5 from the
Banker at the financial institution.



b)



In your
own words respond to the Banker’s question.
Ensuring your response includes information about:




    • If rates can be gained that are not
      XXXXXXXXXXpublished on their advertising (internet and brochures)

    • If revenue increases are further
      XXXXXXXXXXsavings possible

    • Interest rate on funds in the account
      XXXXXXXXXXand how/when they are paid

    • What payment gateways integrate with
      XXXXXXXXXXthe account and any API for this

    • Wholesale rates can we buy funds from
      XXXXXXXXXXyour bank

    • What payment gateways do you offer




Type your reply for Recording 5 using the
proforma in Appendix B: (Approx. 50









Part C: Document and distribute outcomes and recommendations of
review





















1



Reporting and Evaluation Process



1.1



Recommended Process for
reporting and Evaluation



1.1.1



Method (150 words)




Considering the data sources that you evaluated
in the last section of your proposal (Analytics), what ERP solution is suitable
for Bounce Fitness?











1.1.1



Timing (150 words)




Outline your approach to the frequency
of distributing and reporting financials (including your rationale). Ensure
your answer includes company financial reporting patterns as well as the
regularity of sales reporting. Can you draw links with Australian government
requirements for financial and accounting reporting?











1.2



Tools for Data Collection and
Analysis
(150 words)




Expand on the ERP solution from the
‘method’ section of this assessment. Outline the data points or analytics it
can provide and how this is of benefit to the performance evaluation process
for this project.















1.3



Plan for Gap Analysis and Improvement



1.3.1



Monetisation Vision and Goals (100 words)




Based on the revenue target, the ROI
you calculated in the proposal, and the data you gathered regarding potential
opportunities and projected sales etc., summarise these in a vision statement with
key metrics for the following:




  • Profit

  • Marketing
    ROI

  • Leads

  • Conversion
    rate

  • Repeat
    Purchases

  • Micro-loan
    Revenue

  • Marketing
    Budget

  • Gross
    Profit (GP)











1.3.2



Gap Analysis (150 words)




Consider the Marketing ROI for the
Microloan business against the rest of the business, what does a Gap Analysis
identify? Is this in front or behind the benchmarks? What is the target-spend
for marketing? How can improvement be gained?











1.3.3



Roadmap (150 words)




Draw a table that shows the current
state and future state (goals) with suggested target improvements in conversion
and margin achieving a stronger ROI.











1.4



Digital Dashboard (150 words)




The Board of Directors are considering
bringing in electronic reporting dashboards to assist in the monitoring and
reporting of the project’s effectiveness. Draw a picture/schematic of a Digital
Dashboard showing the KPIs and Benchmarked data for the Microloan business
ensuring you include all the data points and transaction and sales data you
have recommended and included in your proposal and this performance evaluation
and improvement plan. As a minimum you should include:




  • Sales
    data

  • Geographic
    reach

  • KPIs



o Profit



o Marketing ROI



o Leads



o Conversion Rate



o Repeat Business



o Microloan revenue




  • Marketing
    budget

  • Web
    traffic

  • Engagement

  • Best
    performing keywords

  • Best
    performing advertisements

  • Other
    data you feel is important













Appendix A -
Digital Strategy Review Template





Digital Strategy Review for Bounce Fitness



1. Channel Analysis



1.1. Channel Strategy – the Monetisation Opportunity for ETG



1.2. Digital Marketing Considerations



1.3. The ETG Digital Ecosystem






















2. Review Prior Experience



2.1. Conduct Internal Research



2.1.1.
ROI on Existing
Sales



2.1.2.
Review Site
Analytics



2.1.3.
Review Inventory
Management



2.1.4.
Review Resource
Management



2.1.5.
Review Cash flow
Impact




















2.2. Conduct External Research



2.2.1.
Competitive
Intelligence



2.2.2.
Research Partners



2.2.3.
Legal
Considerations and Organisational Policy




















2.3. Identify Potential Barriers to Streamlined Transactions




















2.4. Benchmarking



2.4.1.
SEO



2.4.2.
Engagement



2.4.3.
Existing Website
traffic



2.4.4.
Establish KPIs




















3. Development Plan – Select & Implement Tools and Technologies



3.1. Organisational Impact



3.1.1.
An Agile Team




















3.2. Development Plan



3.2.1.
Customer Trust



3.2.2.
Ensuring Sales
Success



3.2.3.
Content Strategy



3.2.4.
Project Plan



3.2.5.
Testing and
Stabilisation Plan




















3.3. Transaction Enablement Partners



3.3.1.
Payment Gateway



3.3.2.
Financial
institution (Oral Component)



3.3.3.
eCommerce
Platform



3.3.4.
Authentication
& Security Considerations



3.3.5.
Analytics


























Appendix B - Proforma













































































































Video 1



Transcript



Martin: Good morning. Thank you for coming to see me
today. I understand you work with a business who trades in fitness products
and materials and are looking to negotiate the best financial services
partner for your growing business. I can assure you with a strong business
such as yours, we can help you with a very good offering. Can you please tell
me about your business and what you are looking for?



Write your response:











Video 2



Transcript



Martin: What key performance indicators are you working
with for your existing business and the new micro-loans business?



Write your response:











Video 3



Transcript



Martin: Ok, great. Now you must have some questions for
me so you can understand what we have on offer here at our bank. What are the
most important factors for your business in selecting a financial
institution?



Write your response:











Video 4



Transcript



Martin: Can you tell me; you have an existing business
now trading in the fitness environment and are adding a new line of business
monetizing the digital channel. Are you looking to move all your business to
us?



Write your response:











Video 5



Transcript



Martin: Thank you for all those questions. We will gather
a proposal and get all these answers to you aiming to improve your digital
strategy. Do you have any other questions for me about what we offer?



Write your response:




























1. Reporting and Evaluation Process



1.1. Recommended Process for Reporting and Evaluation



1.1.1. Method



1.1.2. Timing




















1.2. Tools for Data Collection and Analysis




















1.3. Plan for Gap Analysis and Improvement



1.3.1. Monetization Vision and Goals



1.3.2. Gap Analysis



1.3.3. Roadmap




















1.4. Digital Dashboard

















BSBTEC601I



Review organisational
digital strategy















Assessment Task 1 –
Knowledge Questions



Task
summary



  • This is an open book knowledge test,
    to be completed in your own time.

  • You need to answer all the written
    questions correctly.



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 1: Knowledge Questions
































































Question 1



a. What is a digital strategy? What are the
key features and objectives of a robust digital strategy? (write your answer
in XXXXXXXXXXwords)


b. Explain the key features of the
following organisational policies and procedures related to digital strategy (write
your answer in XXXXXXXXXXwords):



i.
Digital
marketing policy and procedures



ii.
Online
security policy and procedures



iii.
Digital customer
interaction policy and procedures



Answer:


a.


b.



Question 2



Explain the following digital strategy review methodologies (write your answer in XXXXXXXXXXwords):


a. Competitive
analysis


b. Audit and Review
of current digital marketing strategy



Answer:


a.


b.




Question 3



a. Explain the key features, methodology and criteria for the
development of review plans
(write
your answer in XXXXXXXXXXwords)
:


b. What are the three (3) stages of digital innovation a business
should be assessed on when conducting a review or audit of digital strategy? (write
your answer in XXXXXXXXXXwords)



Answer:





Question 4



Explain
the following sources of relevant digital strategy information required for
conducting an audit on business digital readiness (write your answer in
XXXXXXXXXXwords):


a.
Online
presence


b.
Digital
marketing


c.
Customer
interaction


d.
technology
and efficiency



Answer:


a.


b.


c.


d.




Question 5



Explain
the methods of analysing review information related to digital strategy
according to the review plan (write your answer in XXXXXXXXXXwords).



Answer:





Question 6



a.
Explain the format
of the digital strategy review report
(write your answer in XXXXXXXXXXwords).


b.
Explain the content
that you would include in a digital strategy review report to discuss the
outcomes, findings and recommendations of digital strategy review conducted
(write your answer in XXXXXXXXXXwords).



Answer:


a.


b.




Question 7



Discuss
four (4) common recommendations for actions to improve digital strategy
(write your answer
in XXXXXXXXXXwords).



Answer:





Question 8



Explain
the following methods of distribution of the final review report (write your
answer in XXXXXXXXXXwords):


a.
Stakeholder
meetings


b.
E-mail


c.
Online
presentations



Answer:


a.


b.


c.







Congratulations
on completing your Assessment Task 1. Please remember to submit:





-This
completed workbook




















Answered 12 days After Nov 12, 2022

Solution

Shubham answered on Nov 22 2022
48 Votes
(
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 cu
ent 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 co
ectly 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
oader 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
and 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 a
east 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 ba
iers 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 cu
ent 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 e
ors 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:
· Custome
· Order process
· Online store
· Payment Gateway
· Payment Processo
· 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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