ferrari's next digital strategy

FERRARI’S NEXT DIGITAL STRATEGY

Steven Teitelbaum

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

WHO TO TARGET?

• Niche market

• Target market’s characteristics• Wealthy • Expensive Taste• Car Enthusiasts/Collectors• Racing Enthusiasts• Ferrari “Fanboys”

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

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

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

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

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

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.

OPPORTUNITY