It's no secret that how products and services are marketed can make all the difference between success and failure. But competing in a digital world that's constantly evolving is difficult.
Making matters worse, according to a Smart Insights study, 46% of companies don't have a defined digital marketing strategy, while 16% that do have a plan in place haven't yet put it into practice.
A well-conceived digital marketing plan is an essential tool for any brand or business seeking to compete in the ever-shifting, tech-focused online.
Here are five essential steps to developing an effective digital marketing strategy customized for your company's specific goals.
First, define your business' mission or objective to ensure that your digital marketing goals fit into your overall plan.
To do so, ask yourself what you want to achieve with your digital marketing efforts and set your goals. For example, are you seeking to position your ecommerce store as the go-to online retailer in a specialty niche in the U.S.?
Set and Track Your Key Performance Indicators (KPIs):
Identify and set realistic KPIs by analyzing your past online marketing efforts as a benchmark for results to avoid setting unrealistically high expectations.
Determine how you will measure KPIs. Will you use Google Analytics to measure traffic or conversions or tools like Buffer to monitor social media engagement?
Conduct a SWOT analysis to determine your:
Strengths: What are your business' greatest strengths? Analyze your capabilities and resources to determine how well you'll be able to exploit them and capitalize on existing and emerging opportunities.
Weaknesses: Think about and jot down everything (yes, everything) you can think of that puts you at a disadvantage in the competitive landscape.
Opportunities: Evaluate and identify current and future opportunities you can take advantage of.
Threats: Make note of any and every associated risk that can stand in the way of your strategic efforts, operational efficiency or overall success
To ensure you don't try to conceive a digital marketing strategy in the dark, analyze your past success and failures to learn from them.
Tools like SEMrush can be used to flesh out the SEO strategy of a competitor and determine which keywords drive the most traffic to their website. These tools can also compare the organic and paid traffic to different websites, giving you valuable insight.
When planning, always consider the people you'd like to reach. Believe it or not, the target audience can be one of the first things inexperienced digital marketers forget about when devising a plan.
Keep your audience at the center of your digital marketing plan by never losing focus on what they want and need. How? By coming up with well-thought-out profile of your potential customers or clients.
As a starting point, Google Analytics’ Audience Reports can help you to identify key characteristics
An effective digital marketing plan requires three things: financial investment, human resources and marketing channels.
Once you've conceived and designed your strategy, it's time to decide how much time, money and tech resources you'll be able to dedicate to your plan.
Develop a Marketing Calendar:
Review Your Strategy and Identify Any Required Changes:
Even with a strategy conceived through deep analysis and insightful assumptions, there's no way to predict exactly how your target audience will respond to your efforts. So, it's important to continuously measure and monitor your plan's performance to fine-tune certain elements when needed.
These six useful tools will save you valuable time and provide you with the opportunity to gain unique insights to help take your social media marketing campaigns to the next level..
Successful digital marketing requires a detailed strategy? Dotlogics has the experience to help you create an online marketing plan that fits your business goals.