Meghan and Michaela
Meghan and Michaela Great Cups needs to work on some financial issues that have developed over the years. A strategy to improve profitability by utilizing free advertising via different social media platforms could really help the company improve some of their financial ratios. Great Cups can increase their revenue by taking advantage of the current technology and social media sites available to them and decrease their advertising costs. Tony, the CFO, reported that it was evident that the company’s revenue is up, but their ability to get these funds into their main bank account has been cumbersome at best (Case, 2012). Beverly, the Director of Internet Marketing, explained that after interviewing several younger employees she came to the realization that Great Cups should be using Search Engine Optimization to be sure their website gets seen by consumers looking for their products and locations (Case, 2012). She also stated she spoke with a consultant who had a proposal that included Facebook, Twitter, and blogs to help promote Great Cups (Case, 2012).
It is important that Great Cups is one of the first coffee companies that appear in a search engine when a consumer is searching for a coffee shop nearby. This can help bring in new clients that will hopefully become loyal customers. Creating a Facebook and a YouTube page that talks about the company and its founders will allow the consumers to develop a connection between themselves and the founders. It also provides the company with access to their website and to different events that are happening at different stores in different areas. Great Cups can use these social media sites and have interactive contests where the consumer can name their next coffee blend or specialty drink to win gift cards and other prizes. This not only brings the consumers into the store but also gives them access to the companies social media sites, so they can cast their votes. Other sites like Youtube and Instagram can be utilized as a platform for professional and fan based commercials, catchy jingles throughout the holiday seasons, and contests that lead to fresh new ideas instead of spending excess money on expensive television advertisements. These all can be done with little to no cost to Great Cups which will help cut back on their marketing and advertising cost and help to increase their profitability.