How to create a digital marketing strategy?
Meghdeep Patnaik | July 26, 2019
Digital strategy has become the “now” of marketing. Strategies are integral to the functioning of businesses around the world. Organizations can steer towards success or failure, depending on the efficiency of the strategies employed. The modern landscape of business requires digital marketing strategies to reach a larger audience. The key is not just to create a strategy, but to see through its execution and assess the outcome. However, the first step is the process of devising a digital marketing strategy and that’s what this article is all about. Read on to find more about creating an effective digital marketing plan and its various facets.
What is a digital marketing strategy?
The process of employing marketing strategies to achieve the organization’s goals through online channels is called a digital marketing strategy. These channels could be paid, unpaid or your own media channels and could work together to achieve common goals for a particular campaign.
What are the types of digital marketing strategy?
Content marketing: The marketing technique that emphasizes creation, publishing and distribution of content via online platforms for a target audience is called content marketing. It employs the art of storytelling to promote brand awareness with the goal of building strong relationships with potential customers. While content marketing can be used for inbound as well as outbound marketing, it is usually focused on creating content that provides value to the existing customers.
Social media marketing: When a product or service is promoted through social media platforms and websites, the technique used is called social media marketing. Today, about3.48 billion people in the world are social media users. This alone speaks volumes about the expanse of social media’s reach. Social media marketing utilizes user engagement to increase brand awareness. This can include information sharing and engagement with followers, partners or even competitors, depending on the strategy you are implementing. One of the key contributors to the success of a social media marketing strategy is to identify the social media platform that will work best for a particular campaign.
Search Engine Optimization (SEO): The objective of this marketing technique is to optimize content and websites so they feature in the top results of search engines. SEO ensures that necessary keywords and appropriate keyword density are used to promote the content in the search engines. Content, social media marketing and SEO strategies are devised in close alliance with one another, to yield optimal results.
Affiliate marketing: It is an online performance-based marketing tactic, wherein affiliates are awarded commissions based on the number of visitors or leads brought by them. Affiliate marketing is a popular technique, generally used by bloggers and website owners, who generate revenue by advertising other people’s brands on their website. It is also a low-risk marketing method as the advertiser (brand owner) only pays for conversions and not visitors.
Pay-Per-Click (PPC) Advertising: PPC advertising is a technique that requires the marketer to pay each time someone clicks on a link to a website. Most social media platforms allow other marketers to promote their ads. These ads are run based on the choices of the target audience.
How to create a digital marketing strategy?
Step 1: Define the business objective
Strategies are employed to achieve an organization’s goals and objectives. Hence, before you start exercising your grey cells to create the digital marketing structure, ensure that the organization’s mission and objectives are clearly drawn out. It is essential that the digital strategy you create is in line with the final goals of the organization and can make a significant contribution to its successful execution.
Step 2: Take a cue from the past
Professionals cannot reach maturity in their work-life without first facing challenges and failures. However, this should not set you back or deter you from achieving the best. Analyze the course of action you employed in the past and the repercussions it had. Identify how a particular strategy could have worked in a different situation or whether certain modifications could work well for the campaign in question. Furthermore, analyze your competitors’ marketing strategies to assess the drawbacks and gaps in your digital marketing strategy.
Step 3: Identify your target audience
The driving force of a digital marketing action plan is to understand your audience and target customers. For instance, a particular marketing goal might be designed to appeal to the younger generation and would require adaptations in order to appease another age group. Marketers can draw useful insights if they know the behavioural instincts of the target audience and can devise marketing strategies based on the user personas. Sometimes, it might be necessary to not only satisfy their material needs but also help your customers find an emotional connect with the brand.
Step 4: Budget management
While developing a digital strategy, marketers go all out to rope in every marketing effort possible to promote a brand. However, reality strikes when the time to raise capital for each venture comes. Hence, be prepared for cutbacks and moderations in your marketing efforts. Identify which marketing technique would be the most effective for a particular campaign and what the return on the investment would be. Based on this, prioritize the marketing strategies that are most likely to yield profitable results.
Step 5: The strategy
Once the first four steps are in place, it is then time for you to put your plan in action. Keeping the contingencies in mind, devise a moderate number of strategies. While some situations would demand that you move on from Plan A to Plan B, others would only require you to make small amendments to your existing strategy. Always be prepared for setbacks, as the business world today is the face of cut-throat competition. Create a calendar, share it with your team and mention the tasks in line with their priorities. This will help you to effectively manage your time and achieve the campaign’s goals.
What are the advantages of a digital marketing strategy?
Due to the increased popularity of digital platforms, digital strategies have become a powerful form of marketing. It has the potential to reach customers all over the world and generate revenue in different ways.
It involves cost-effective marketing techniques as many of the marketing types require little or no investment (for example, content marketing).
The only way to assess whether a marketing strategy is working to its full potential is to measure it. The success of digital marketing strategies is easier to track as compared to traditional marketing methods (for example, print advertising). Digital marketing analytics make it convenient to track the progress of digital campaigns, helping organizations better understand the insights and future course of action.
This marketing technique makes it easier to target the ideal audience for a particular brand or product.
A sound digital marketing plan is the foundation of businesses across the world as it has the potential to reach a large audience. If you want to become a digital marketer, you can enrol for the Master of Business Administration program offered by University Canada West (UCW). This is your chance to become a part of the global phenomenon that is digital marketing! For more career-related tips, stay tuned on our blog.