A business without a working digital strategy is like a ship without a rudder – harsh, right? Well, not necessarily so, the reality remains that the typical business requires a full digital presence to survive the digital age.
Digital marketing is vital to the survival of your brand and determines how long your brand will stay afloat. It’s best to take into consideration that the digital market is constantly evolving, since technology and customer preference is constantly changing.
For instance, before the advent of the Internet, digital marketing was restricted to just TV and radio adverts. Today, Online marketing forms an important facet of digital marketing. A great digital marketing strategy helps you to effectively reach your target audience. For example, there’s an exponential increase in the number of mobile phone users, and companies that put this fact into consideration, will have an edge over their competition.
Therefore, it’s important to always stay abreast of any change in this digital world, and you can only accomplish this through an effective digital marketing strategy. So, let’s take a look at methods or steps of building a perfect marketing strategy.
Steps To Building A Powerful Digital Marketing Strategy
It’s surprising that majority of brands still don’t have a defined marketing strategy. In fact, a survey by Smart Insights, showed that 47 percent of brands don’t have refined digital strategy and about 16 percent do have a well-laid out strategy but have not integrated it into their activities. Well, don’t panic if you don’t have a strategy, the following steps will you how to build a perfect digital strategy.
Step 1 – Know Your Objectives
Define your mission
This is the time to go back to the drawing board to define your business’s overall objectives. It’s vital that your digital marketing strategy fits into your overall plan. Still confused? Then, try asking yourself this question; what is the major objective that you want your digital marketing strategy to achieve? Your answer is your mission.
Measure and Set Your KPI
Time to get realistic. Be realistic when setting your KPIs, since you will be accountable for it at the end of your media campaign. Analyse your past marketing efforts, and use it as a platform to aim for a positive increase on your current digital marketing campaign. Then, select a method that will help you to calculate your KPIs effectively. You could use Google Analytics or BuzzSumo to track the success of your strategy.
Step 2 – Analyse Your Past Marketing Efforts
It’s not advisable to form a new digital strategy without studying your past marketing efforts. In fact, it’s best if you take both the first and second steps together. So, it’s best to set a time where you can peruse your past efforts. Let’s look at how you can analyse your past efforts:
- Determine the duration you will like to analyse and set your Google Analytics to match this duration.
- In your Google analytics, you can use the Benchmark reports to compare your progress with other competitors.
- Study your competitors strategy, and make an analysis spreadsheet of their digital activities. You can use SEMrush to determine the keywords they use to drive traffic.
- Try to go over the whole process and think of any strategy you’ve omitted.
Step 3 – Speak The Lingo Of Your Target Audience
In the rush to set your KPIs, budget and preferred channel, you often to forget the most important ingredient of your digital marketing strategy – your audience. You already know your target audience, but don’t let your planning rob you from connecting with them. So, how can you achieve this, and make your audience the center of your digital marketing strategy. Let’s take a look at the following ways:
- Jot down the basics of your target audience, from the age to location to preferences to gender.
- Research further, and pinpoint the problems you can help your target audience solve.
- Delve into what makes them tick. Try to relate with the fears, emotions, desires, goals, and frustration of the average Nigerian. Try going deeper into your Google Analytics’s Audience Reports in order to identity the persona of your audience.
Step 4 – Stick To Your Budget (Don’t Go Overboard)
Remember, never go beyond your means when planning a digital marketing strategy – it’s that simple. Always take into consideration all of your resources before deciding on what you need during the digital campaign. So, how can you stay within your means.
- Define the cost of the overall digital marketing project
- Check to see if any channel had brought you great returns at low costs.
- Distribute a significant portion of your budget for each of the digital channels you plan to use.
- Re-direct funds from a campaigns with little returns to others with great potentials.
- Consider if you need to hire more people for a digital campaign or if it’s better to outsource to a third-party.
- Ensure that there’s at least one KPI attached to all your digital channels; this will help you to make better analysis on their conversion rates through Google Analytics.
Step 5 – Your Plan Might Change
Surprised? Well that’s the fact. You can make plans but don’t stick to it. Let me explain before panic sets in. Not every assumption you make will be correct since the digital world is filled with complexities and inconsistencies. It is, therefore, important to continually monitor and measure the performance of your strategy, and to make changes when necessary.
You can take charge of your plans by creating a Google calendar and by highlighting major events on it. Furthermore, you can also perform a periodic check-up of your strategies and make changes if it’s not working according to plan.
A good digital marketing strategy is what separates the best from the not-so-greats. Still, in your quest to create the perfect digital marketing strafe, you should never loose sight of your greatest assets – your customers.