What is the Right Digital Marketing Strategy for Your Business?

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The Internet presence alone is no longer enough for businesses today - they need a digital strategy. The business has split into two camps - companies that are already living in the digital world, and companies that are just preparing for change. But both of them often lack consistency in this matter. Developing a corporate website, doing SEO optimization, and having Instagram is not a digital strategy.

A digital strategy is a plan for promoting a brand on the Internet, that describes which digital channels will be used and what result the company plans to achieve. The goals of a digital strategy are the same as those of a marketing one: loyalty, increase in sales, and a flow of new customers. This implies that online marketing is cheaper than offline marketing, and the brand will invest less with more return. And I'll tell you how to do it.

If you need a plan that can give you a powerful push forward, I suggest looking at the 5 most important steps to create a digital strategy. By following them, you will almost certainly be able to convert your efforts and investments into profits. 

 

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  1. Set a concrete goal.

First, define the general mission of your business. And then think about what exactly you can achieve with a digital strategy on the way to that goal. Because the set of digital marketing tools will completely depend on your goal. For example, if you want to attract customers, contextual advertising is more suitable for you. If you want to increase brand awareness, it is better to use media advertising (banners), and if you want to find partners, you need to create a section for partners on your website and promote only it, etc. Even the content on the site and in the advertisements will be different for different purposes. 

 

Determine and measure the KPI - this will help you understand how a particular promotion tool works. To do this - determine which indicators are most important for the development of your business. For example, traffic (the number of users who visit the site) is important for online media. Conversions (the number of users who left an order or made a purchase) and the profit from them are important for the online store. For a clothing store that promotes itself on Instagram, it's the coverage (overall brand recognition), the number of followers, and their engagement (likes, comments) that matters. And for a company that promotes its services through a website, its position in search results is important. There is no universal list of indicators by which one can evaluate the effectiveness of Internet marketing tools - it is important to understand which ones will be informative in each specific case.

 

Be realistic. First, assess the results you already have in digital marketing (if there are any). This will guarantee you the opportunity to assess positive dynamics in the future and help you avoid high expectations. 

Choose a tool with which you can measure each of your KPIs. For example: whether you'll use Google Analytics to track conversions, social media analytics to track engagement or third-party tools like BuzzSumo to measure the effectiveness of your content marketing. In other words, if we understand that these 10 tools will bring x2 traffic and x5 profit, then it makes sense to allocate a budget to them, and then it becomes a real achievable goal. 


 

  1. Analyze your previous experiences.

 

You can't plan randomly. An analysis of past successes and failures will provide an opportunity to identify the most important KPIs. Therefore, it is better to perform the first and second steps in parallel. 

Choose a time period for analysis (it is best to take the same season that you chose to launch your digital campaign) - for example, the previous year, quarter, or month.

 

How to analyze:

  • Determine the time period for which you want to receive the report, and specify the corresponding dates in Google Analytics.

  • Try creating a competitor comparison report in Google Analytics to compare your results with your competitors.

  • Don't forget to also analyze how your competitors implement their digital strategies. For example, using the tools SE Rankin, SEMrush, etc. you can find out the SEO-strategy of a competitor, that is, what keywords attract the largest amount of organic traffic to their site. This tool can also be used to compare the volume of organic and paid traffic on different websites. It helps to understand how much money competitors allocate to paid traffic sources.

  • Check analytics data at regular intervals. Ask yourself if there is something else I need to pay attention to that I have not noticed before? For example, should I check the timing of publishing content and choose a more efficient time period? 

 

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  1. Find your customers.

The most important element in digital campaign planning is the people you want to reach. You already know who your target audience is (at least, I really hope you know), but sometimes the target audience is the first thing a marketer suddenly forgets about when setting KPIs, allocating budgets, and choosing channels. Don't make this mistake. Your target audience should be the core of your digital strategy. To turn your audience into customers, you need to understand their deeper needs. How? By creating well-designed and understandable portraits of target consumers.

 

How to create a portrait of the target consumer:

  • Start with the basics and write down all the demographic information you know about your target consumer. For example, age, gender, and location.

  • Then dig a little deeper and identify the problems you can help solve for your target consumer.

  • Try to understand their emotions, desires, goals, aspirations, and fears, and write down all the factors that influence their decision-making. If you have an idea of what your clients are dreaming of and what they fear, you can influence them.

  • You can use the Audience tool in Google Analytics to identify key characteristics of your target consumer, such as age, gender, the field of activity, etc.

 

When creating a portrait of a target consumer, it is also important to take into account who has the greatest influence on him, who is an opinion leader for him.

 

  1. Distribute your resources.

 

To determine the cost of digital promotion, it's important to consider three factors: your budget, your list of digital channels, and the size of your team. You need to be clear about what resources you have before deciding what else you might need in the next step. Therefore it is necessary to audit the used digital channels, choose the most effective, refuse to use non-functional tools for promotion, connect new ones and decide whether to outsource digital marketing or allocate a budget for one or two new professionals in the marketing department. 

 

How to determine the planned costs:

  •  Budget. Determine your overall digital marketing budget. Gather statistics on which channels work best (attract higher quality leads at a lower price). Decide whether you will use paid promotion (for example, contextual, targeting, or media advertising). Set aside a budget for each paid channel you want to use (study channel analytics to determine the most cost-effective ones with the highest reach, conversions, and lowest cost-per-click). If a particular paid source isn't producing the results you want, turn it off and reallocate your budget to a channel that produces better results.

  • Team. Look at your current team and estimate how much work you can do on your own (be realistic about this and make sure no one will be overworked). Determine if you need to hire more people and if you have the funds to do so. Decide whether you will develop the digital direction by your own forces or you need to outsource this work to an outside agency.

  • Channels. Analyze the digital channels you use and decide which ones to invest in. Be clear about what each channel is trying to achieve. Make sure you have at least one KPI assigned to each of your digital channels. 

 

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  1. Make a plan (and DO NOT stick to it).

Practice shows that not every plan is perfect from the beginning. And not all of your assumptions will turn out to be correct. Even if you think through every detail, collect comprehensive statistics, and carefully plan each next step, you can still be wrong in predicting the behavior of your customers. So once again, I emphasize the importance of constantly measuring and tracking the effectiveness of your digital strategy and making timely adjustments.

 

Create a digital marketing calendar:

  • Create a timeline in Google Calendar and share it with all your team members with the ability to edit if necessary.

  • Highlight the key campaigns that you will create and promote during the year, and set deadlines for each of them.

  • Choose the digital channels necessary for the success of each campaign.

 

Analyze your digital strategy and make the necessary changes:

  • Create a regular measurement and monitoring plan (it must match your KPIs);

  • Check the effectiveness of individual elements of a digital strategy at regular intervals;

  • If something isn't working (i.e., you're not meeting your established KPIs), break it down into separate elements, check each one, and try to determine which one isn't working properly (for example, is it the time you post content or the slogans you use);

  • Revise your previous reports, target customers, and budget allocation and try something new.

 

Bio

Helen Wilson is a professional content writer at Write Any Papers. Her main spheres of specialization are Marketing and Business. She studies topics about psychology and health, and she also provides help on how to write a hook for an essay.

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