Digital Marketing is the most important tool you can utilize for your business, and these are our 5 Steps To Create A Powerful Digital Marketing Strategy. Almost half of the companies or brands in existence today do not have a digital marketing strategy in play, and the companies that do have not yet utilized the plan set it in motion or integrated it into their current marketing efforts. The purpose of planning out your digital marketing strategy is to pack brand awareness and brand integrity into single efforts that will drive your bottom line and make you more successful.
Digital marketing can be very influential in taking your business to the next level and be the leading force to serve all kinds of functions in your business. Digital Marketing helps with driving traffic and building sales, builds hype, generates brand awareness, creates a thoughtfully engaged audience, and allows you to connect and create long-lasting relationships with customers and prospects.
It’s that simple! Let’s dive into the basics and learn the 5 Steps To Create A Powerful Digital Marketing Strategy.
1. Define Your Digital Marketing Goals
The most important step in building out a Digital Marketing strategy is defining your goals. This starts with defining your business’s missions and objectives and then discussing your Key Performance Indicators (KPI’s) to create a system to track and measure your goals. Meet with your coworkers, executive team or business analysts and figure out the determining factors for these initiatives, and what goals you would like to complete within your specified time frame. Your goals should be achievable and attainable, but they should also be adaptable in the given instance that your objectives are not being met and you would need to redefine your goals.
2. Analyze & Optimize Current Marketing Efforts
Create a time-frame in which you would like to analyze. This time frame will be used in the future to be your comparative KPI. These dates will allow you to see your potential growth. It’s important to always analyze and optimize your current marketing efforts, as it allows you to take findings that are working within the business and build on those going forward. Marketing indicators such as a specific strategy or promotion that worked really well, or a series of timing where you get the most engagement on your collateral in your digital platforms, are things that you can carry over to your new Digital Marketing strategy and will help grow to the next level.
3. Determine Buyer & Customer Profiles
This is how you determine your clientele or customer base: Defining your analytics and defining your target customer. You can do this simply by using information that you already have such as email marketing lists, name and address databases, or Audience Reports from Google Analytics. These metrics will help you better be able to see your consumer. You can also create a quick answer survey that may be handed to all guests entering a store, or take a digital approach through an email blast. Once you know the basics, such as age, gender, location, etc, you may be able to modify your Digital Marketing assets to better accommodate and satisfy your customer’s needs. This will help your marketing efforts and add longevity to your strategy, which will result in a better utilization of your marketing spend.
4. Choose Your Avenues & Platforms
Highlight the key areas and avenues where you can use your powerful new marketing strategy. Whether it’s a content-focused social media strategy, revamping your business’ old website and search engine optimization (SEO), utilizing Influencer marketing, starting a new company website blog, or starting a major per-per-click (PPC) campaign, all your efforts can be defined differently depending on the platform you choose to use. When you’ve chosen the avenues and platforms, it’s important to research the best way to amplify your reach, how to view analytics and metrics through their native analytic back-ends, and understand the “why” behind using that platform specifically.
5. Define Your Budget & Sales Funnels
It’s important to establish a budget because you want your marketing efforts to be profitable and for your spend to be worth-while. Establishing a baseline budget and researching industry standards will help you determine where to go. On average, an overall marketing budget is usually between 5-15% of the total revenue for that business. In 2019, the focus should be on elevating digital, and therefore the digital spend should be using at least 10-50% of that. Determining your sales funnels in your business allows you to best determine how you will attract and retain customers. Examples of typical sales funnels would be Exposure, Discovery, Consideration, Relationship & Retention. It’s important to know these funnels within your business, as it will help you make the most of your marketing spend
Does digital marketing work for every business?
The simple answer is, yes. All businesses should be utilizing digital marketing strategies within the confines of their own business needs. Not all businesses can implement these strategies in the same way, therefore making digital marketing extremely adaptable for any size of business whether it’s a small local company, or a large, corporate one. No matter what the business, focusing on implementing these digital strategies with your customer profiles in mind will allow you to reap the benefits of your marketing spend.