How to build a digital marketing strategy for your business?
Digital marketing strategy is a series of actions that you are going to take over a period of time to achieve your goals or complete milestones for your marketing activities using online marketing.
In a nutshell; digital marketing strategy is a goal that you set with defined set of actions and tasks that helps you achieve your goal or multiple goals.
1. Recognize your target audience
All your marketing campaigns need to define your target audience. If you don’t know whom you are trying to reach out to, you’ll end up marketing your product to someone who is not interested in it.
It is very important to build your prospect’s persona. Knowing who will be interested, who might be interested or who will possibly be interested in your product is very important. This will ease your work in terms of marketing and help you in reaching out your target audience.
For example, if you sell automobile parts of a particular motorbike, your target audience would be people who are using that motorbike, mechanics of service stations where they service that motorbike, online influencers and motor biking bloggers who might review your product.
2. Set Goals and Milestones that needs to be achieved
Having a goal is very important for any marketing campaign. A goal will help you in deciding what campaigns need to be run, how they are to be presented and what are the key metrics that needs to be tracked.
Goals set must be realistic and should always be back-linked to the fundamental goals of your business.
For example, if your long term goal is to increase lead generation by next quarter, your short term goal will be to define the steps in increasing lead generation.
Also list down the milestones and checkpoints that you need to achieve like designing the landing page, optimizing it for search engines, doing promotions, setting up Adwords, Facebook promotions, hosting a webinar, etc.
3. Evaluate your current marketing channels
Itis very important for marketers to understand the effectiveness of the their campaigns and have the numbers updated in real time. For example, knowing how the ads are performing, how engaging are the posts on social media, how people are reacting to the collaterals, conversion rate, etc. will help in further optimizing them.
To evaluate your current marketing channels, you need to categorize them in three groups – Owned Media, Earned Media and Paid Media.
- Owned media will include your website, social media pages, listings, etc.
- Earned media will include guest posts you have done, PR you have been doing for yourself, etc.
- Paid Media is basically wherever you are paying to get traction from.
Once you have these categories filled with channels you are currently using, check where you are getting traction from, how much you are investing – both in terms of money and time.
Compare your outcome with each channel and check where you have to invest more time and money to get better.
4. Identify the channels where you need to get into
Now that you know how your channels are working, it’s time to go hunt for new channels where you can get traction from. For example, if you are getting a lot of traction from Facebook, now would be good time to evaluate other social media channels where you can tap into.
To have a better understanding of these channels, see how others are promoting their business through those channels, list down the value proposition and see if your budget, timelines, goal and efforts are aligned.
5. Decide timelines for each process
Timelines help you in working better and efficient. Assigning timelines for each of your task helps you better the process flow. For example, if you want to run ads for a specific product on google, you need to decide timelines for all the processes involved – content development, landing page design, ad banners, setting up campaign, etc.
Also, define for how long you want to run this campaign based on the goals you want to achieve. This should be based on several factors put together like budget, goals, season, timeframe, target audience, etc.
6. Assign tasks
If you have a team who works collaboratively on this, you need to assign the tasks. Breaking down every single component and assigning it to the team can be done based on their field of expertise.
In short, you need to assign it in such a way that the timelines are met and the goals are achieved.
7. Put everything together
Now that you have planned for everything, put them all together and create a workflow that includes target audience, goals, marketing channels, timelines and campaigns. These put together will give you a detailed information on what to do, how to do and where to do things in order to achieve your short term goals that’s linked to your company’s ultimate goal.
8. Always measure and quantify your strategy
Since you have all the tools setup for analytics, you need to keep a track on performance of your campaigns and each of your marketing channels. Monitor how your communication is directed, how people are responding, how they are engaging and the response in terms of sales.
Not all the campaigns are supposed to win. Marketing is about taking risks and making innovative decisions. If your plan doesn’t work out, try altering it to optimize it further.
Have a great time building your strategy. Do share with us, we would be happy to review it for you.