Once upon a time, businesses could get away without marketing strategies as people relied heavily on advertising videos and images to buy a product, but now not so much. Those advertisements were informative and depending on how attractive they made your product look, your sales rocketed or spiraled. But now the trend of trusting only advertisements has spiraled because of the advent of the God of search engines, “Google” and several other search engines. Now people just search for the product online and spend time in researching and learning as much as they can before taking an intelligent and smart decision on whether to buy said product or not. And now that situation has exploded with other sources of information like social media platforms at the customer’s fingertips which again help in making the “to buy or not to buy” decisions.
Now to master all this and ensure your business stays on top you have digital marketing and connecting with your customers has never been easier with the plethora of marketing solutions which provides several opportunities to connect with them and understand their needs. And yes, any digital marketing campaign comes at a steep cost and if you don’t have a clear strategy all those resources and money you’ve invested in it will be for zilch because it may not yield any tangible return. And most of you might wonder if it’s actually, really necessary to lay out a plan and strategize because you can always wing it. The answer is yes, you absolutely need to because the digital world is powered by real-time data and without a clear strategy you can’t really navigate this environment and before you know it your whole operation has tanked and all for the want of strategizing! So we’ve compiled a list of reasons that every organization needs to invest in a digital marketing strategy.
Make way for changing trends
Imagine digital marketing as a child who’s still in the toddler stage but whose future you have to secure; it seems as though you have plenty of time to do it yet the time is now because with each stage the child grows and with growth comes development and if you keep waiting to draft a plan it’ll end up being too late. Digital marketing might still be growing and evolving like your company, but if you strategize now you can secure a future for your business.
The reason is that those regular promotional approaches that you commonly see online are a dying trend. With a proper marketing strategy in place, the business owners can understand their customer’s needs and tailor their offers accordingly to cater to that need. If you use the megaphone approach of catering to one and all the same way, you’ll end up driving those customers away.
It provides a proper direction that your team should focus on
The first question you need to be asking yourself at this stage is, “How can digital marketing help us in identifying and reaching our most critical business goals?” Your goals may be to increase our customer base, gaining new leads, sales, building new relationships with existing customers, introducing your products or services into new markets or building brand awareness for your company, having a digital marketing strategy is like building a roadmap to achieve these goals. Once you’ve identified those goals, you’ll have a set objective and resource allocation becomes a lot easier and evaluating and measuring the performance to check the progress also becomes easier. Furthermore, your online value proposition will be increased, your target audience is identified and defined and will help you in designing or choosing methods to enable you to execute your strategy and all this by just having a clear digital marketing strategy!
Know and understand your online market
Online service is in great demand at present and in your enthusiasm to wing it without a clear strategy may cause you to overlook this part, the behaviour exhibited towards traditional and online marketing communications and their profile will differ from customer to customer meaning there’s a difference in the dynamics of how digital marketing works compared to traditional channels.
Digital marketing is all about knowing the customer inside-out and this helps businesses to offer tailor-made approaches for each customer based on their needs ensuring a higher level of engagement; whereas traditionally we employ blast communication that targets audiences as a whole. There is no segmentation or identifying the customer’s needs. You just fervently pray and keep hoping it will reach the right person who will be interested in your product or service leading to sales.
An effective customer experience will help in developing better relationships between a brand and its consumers. To summarize, basically what a digital marketing strategy does is it helps businesses take a user-centric approach that aids in understanding and catering to the needs of their Omni-channel customers.
To eliminate competition you need to be unique
As we’ve mentioned before the world of digital marketing is evolving but what you don’t know is that it’s already a cut-throat one where competition is ruthless. Without a clearly defined strategy, sooner or later you’re going to slip up; meaning you will fail to allocate enough resources towards achieving your goals and make a misstep and newer or existing businesses with better plans will take your place and start eating into your digital market share while you wait on the sidelines trying to sort out the mess you created by not planning ahead.
Dedicating and utilizing resources effectively
For a successful digital marketing campaign, you need to allocate enough and the right kind of resources, trained human capital, technology and financial capital are what you need mainly. A clear digital strategy allows you the flexibility to understand and identify the right kind of resources that you need to employ and then you’ll be in a position to advocate for that in your company. For example, you can buy the right tools that are critical to your campaign or increase the budget allocated or debate on the subject.
Without a proper plan in place you might mistakenly allocate insufficient resources for your campaign to run smoothly, most often it’s not funds or the lack thereof but about having sufficient time and manpower to work on the project.
And once resource allocation is done it is up to you to use cost effective marketing methods that will yield great results but still stay well within your budget. A proper strategy will help in predicting future costs and thereby allowing you to invest the right amount at the right time to get the quality of work which will yield great results.
Investing in Technology
Digital marketing is a new baby in the marketing world and as such needs, the best and most recent innovations in tools and technology, marketing platforms, analytics tools are just some examples. To achieve the best return your priority must be to choose the right tool that will benefit your business by boosting customer experience as well.
Focus on collecting as much information on your customers as possible Knowing your customer is the most crucial part of a digital marketing campaign.
However, if you want to run a successful campaign you should collect more information with clear insights on our consumers with all the data available at our fingertips. Companies should focus on key performance indicators (KPIs), data-collection methods, and technology systems which will give you some amazing insights on customers. And it should all be about building a better experience for the customer and digital marketing strategies help you by identifying your ideal customer and helps in setting a roadmap to ensure they have a positive experience.
Enhancing your performance and experimenting with new approaches
How do you know that our digital marketing strategy actually works? ROI – your digital marketing effort’s ROI tells you about its performance and from there on you can decide on injecting more funds into the campaign or investing in new technology or even to change your approach in case it isn’t working. KPI’s that matter the most to your business should be defined and you should focus on them more like traffic, channel-specific traffic, conversions, and search trends. You can put the right analytics technology in place when you know what matters the most and what needs to be changed and with the right analytics technology in place, you can create smart data-driven feedback loops.
As the world of digital marketing evolves so does the toolkit, new apps and technological advances are being made every day and introduced to the market on a regular basis too. A brand that is flexible and experiments with different formats, channels, and moves forward to see what resonates with their audience and stays on top of the latest trend will live longer and a digital marketing strategy which tells them what’s working or isn’t will ensure that it indeed does outlive other brands.
Integrate and optimize our strategy
Analytics and a website are the basic things a serious businessman has; companies can integrate and optimize their marketing with a clear and well-defined strategy for more effective initiatives. Basically, a strategy ensures that you can benchmark the point where you started and how your digital marketing strategy can be optimized for achieving greater results. It can be improving the user experience of the website, paid and organic search marketing, social media marketing etc. If you don’t improve on it constantly you might end up with all our previous efforts flushed down the drain and you might even lose your customers as well; which is why you need to re-examine your strategy and monitor your goals often and it will help if you build this as part of your digital marketing strategy as well.
A marketing strategy is something that will account for and cover all possible discrepancies that may occur in future for your business. Determining financial targets, setting principles and goals for your organization are all possible with a proper digital marketing strategy and most important of all it works as a navigating system to achieving all those targets that you’ve set. Your online presence is increased using cost-effective methods and helps your organization turn into a professional entity! Meaning your customers and clients will recognize that you’re in process of business development and will support them even after a purchase is completed. The message you should focus on projecting to your clients is that you’re easy and great to do business with, all your products, services, and any other related information is clear and found easily when searched online, this helps build lasting relationships with your clients. Information in today’s world is easily shared in the digital world and in real time, so your brand needs to be easy to find. When you’ve established yourself as a trustworthy brand, brand loyalty is easily inspired which ensures that your products are spoken about and shared easily as well.
So the conclusion is that it doesn’t hurt to spend a bit of time drafting a brilliant strategy and trust us it doesn’t take all that much time if you’ve got your organisational goals and their implementation written down then it’s easy to focus on allocating resources to the objectives which need to be achieved first. And don’t be fooled into thinking it’s optional, a proper digital marketing strategy will help you reap real rewards. And trust us you’ll be the only one left behind if you fool yourself into thinking that it’s not really necessary because your competitors sure don’t think so and most definitely have a strong one in place.