02 Feb This Course Project gives you the opportunity to practice by planning a project, from the onset with an established project charter to an established proje
This Course Project gives you the opportunity to practice by planning a project, from the onset with an established project charter to an established project schedule and related artifacts. The project will make the course content come alive through the application of the principles from the textbook, course materials, and discussions. The Course Project assignments are related to the Course Outcomes aligned to that particular week. These assignments will help build the Course Project Report that is based on the results and experiences associated with your project. This is an individual project. I attached the wbs from last week completion
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Work Breakdown Structure (WBS) for LGW Insurance Client Acquisition Strategy Project
Dairius Watson
DeVry University
PROJ-586
Professor Buleje
01/25/2025
1. Project Initiation 1.1. Define project objectives and goals 1.2. Develop project charter 1.3. Identify stakeholders 1.4. Approve project charter
2. Market Research & Analysis 2.1. Conduct market research on target audience (veterans, business owners, high-income earners) 2.2. Analyze competitors in the IUL market 2.3. Develop target audience persona 2.4. Present findings and recommendations to stakeholders
3. Marketing Strategy Development 3.1. Define digital marketing campaign goals and KPIs 3.2. Develop content strategy for educational materials 3.3. Plan ad strategy for Instagram, YouTube, and Google Ads 3.4. Design lead funnel and customer journey 3.5. Create performance metrics and tracking methods
4. Content Creation 4.1. Develop ad creatives for Instagram, YouTube, and Google Ads 4.2. Write copy for landing pages and social media 4.3. Create educational blog posts and video content 4.4. Review and approve content 4.5. Schedule content distribution
5. Campaign Launch 5.1. Set up ads and landing pages on social media platforms 5.2. Implement Google Ads and performance tracking systems 5.3. Launch digital marketing campaign 5.4. Monitor ad performance and adjust as necessary
6. Lead Management & Conversion 6.1. Integrate CRM software with lead generation tools 6.2. Track and manage leads from the marketing campaign 6.3. Implement lead nurturing strategy 6.4. Convert leads to clients 6.5. Measure conversion rate and ROI
7. Monitoring & Evaluation 7.1. Collect data on KPIs (Lead generation, conversion, ROI) 7.2. Analyze performance against objectives 7.3. Create weekly and monthly performance reports 7.4. Hold review meetings with stakeholders 7.5. Make adjustments to the campaign based on results
8. Project Closure 8.1. Evaluate project outcomes 8.2. Prepare final report for stakeholders 8.3. Document lessons learned 8.4. Close project and release resources
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Course Project: Project Scope Statement for LGW Insurance
Product Scope Description
The product of this project is a comprehensive client acquisition strategy for LGW Insurance's Indexed Universal Life (IUL) products. This strategy will focus on attracting new clients, specifically veterans, business owners, and high-income earners, through digital marketing campaigns. The strategy will include the development of educational content, targeted advertisements, and social media engagement to increase brand awareness and generate qualified leads. The goal is to increase the number of qualified leads by 30% over the next six months, with a focus on generating high-quality leads that are likely to convert into paying clients.
Deliverables
The key deliverables for this project include: 1. A detailed marketing strategy plan for the IUL product, including market research, target audience analysis, and content creation plans. 2. A fully functional digital marketing campaign, including social media ads (Instagram, YouTube), Google ads, and email campaigns. 3. A lead management system integrated with CRM software to track and nurture leads. 4. Monthly performance reports analyzing key performance indicators (KPIs), including lead generation rates, conversion rates, and ROI.
Project Exclusions
The following items are excluded from the scope of this project: 1. Development of new products outside of the IUL product line. 2. Expansion into markets outside of the U.S. 3. Any legal or compliance audits beyond the standard marketing campaign approval process. 4. Long-term client retention programs, which will be addressed in future phases of the project.
Acceptance Criteria
The project will be considered successful when the following criteria are met: 1. A 30% increase in the number of qualified leads for the IUL product within six months of launching the marketing campaign. 2. A return on investment (ROI) of at least 20% from the marketing campaign. 3. Successful implementation of a lead management system with at least 90% of leads being tracked and nurtured. 4. Positive feedback from target audience members who engage with the campaign (measured through surveys and social media engagement).
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