The brands that use these digital marketing strategies have a solid product or service to sell. Of course, you could build a strategy for a nascent idea, but later on, when you flesh out the product, you’ll have to spend countless hours redoing the research and optimising this strategy.
A. What is a Digital Marketing Strategy?
A digital marketing strategy is a set of marketing tactics created to achieve definite business goals. In layman’s terms, leveraging the digital marketing channels to boost revenue, spread brand awareness, and build strong customer relationships.
Digital marketing channels are known by many names, components of digital marketing, types of digital marketing, and internet marketing. Below are a few marketing channels at the forefront of every digital marketing strategy.
- Search Engine Optimization: Organic and Paid
- Display Advertising
- Email Marketing
- Social Media Marketing
- Pay-per-Click Marketing
- Content Marketing
B. What are the Benefits of Digital Marketing Strategy?
A dedicated digital marketing strategy is the finest tool of the digital trade. A skillfully implemented digital marketing strategy encompasses all aspects of digital marketing. It optimises the Workflow implementation to boost performance. It opens avenues, creating pathways to continuous improvement of your digital marketing strategies, from Search Engine Optimization (SEO), known as the backbone of organic traffic & ranking, to Email Marketing, a highly reliable digital marketing technique to generate quality leads.
Below we have highlighted the benefits of a smart digital marketing strategy.
- Optimises your digital marketing for better results:
A digital marketing strategy sets you on the right marketing path. One of the essential factors of building a well-researched digital marketing strategy includes setting goals, which could vary from client to client. The initial goal will most likely be building relationships, which goes hand in hand with attracting customers.
- Helps you find the right audience for your digital marketing project:
The target audience for each product varies. Dollar Shave Club, a company dedicated to men’s grooming products, has a light and fun tone that is highly suitable for its target audience.
On the other hand, scientific journals are created for students, professors, education institutions, and scientists. These are somber men and women, many of whom will not appreciate the light-hearted tone that Dollar Shave Club prefers.
So, with a digital marketing strategy, you can find the right audience that is profitable for your niche.
- Ensures that you stand out amongst the competitors:
As a digital marketer, you’ll need a certain edge to make something that sets you apart in the competitive market. The best solution for this is creating or implementing a tried and tested digital marketing strategy that will help you build a buyer persona, giving you the tools to appeal to the client and generating higher engagement.
- A highly efficient idea that helps tackle problems before they arise:
Once a digital marketing strategy is in place, a marketer can monitor the strategy. If needed, they can optimise it quite easily. Today’s technological advancement has led to the emergence of tools such as Google Analytics that offer a complete analysis of your marketing campaigns.
C. How to Create a Dedicated Digital Marketing Strategy?
Building a digital marketing strategy involves leveraging the market analysis, creating a distinct buyers persona, choosing the right digital marketing platforms & channels, and several other distinct steps that will help define the Key Performance Indicators. These KPIs should help you measure the performance of your dedicated strategy.
Follow the guidelines below to build effective digital marketing strategies. These guidelines are useful for both digital marketers and business owners.
1. Define the Brand
With new emerging projects, it is always essential to define the brand. It is the first step of building a great digital marketing strategy. Without a proper direction or vision, your marketing efforts will always fall short. To define the parameters of the brand, you can ask yourself the following questions?
- Question 1: What’s the motive of this company? Why does this Exist?
Amazon exists for the sole purpose of selling. Not many know that when it was first launched in 1994, it was a website that only sold books. At the time, Jeff Bezos’ vision for Amazon was a future where Amazon was the world’s largest retail website. It is a vision that turned into reality.
Another renowned brand, Meta, the owner of Facebook, Instagram, and WhatsApp, offers a social platform for people to interact. Mark Zuckerberg initially created Facebook as an environment that could help college students connect.
So, it is essential to establish a motive. Digital marketers can also use pre-existing branding parameters for their projects. Or hire a branding agency in Mumbai to help them out!
- Question 2: What’s the company’s story?
Storytelling is one key aspect of digital marketing. A brand without a story has high chances of sinking to the bottom of this competitive ocean.
Brands such as Nike, Warby Parker, Airbnb, and Amazon have time and again created brilliant advertisements with a strong message that speaks for the brand’s authenticity. While some brands who have been less than honest with their marketing had to face a huge backlash from the consumers.
Moral of the story: Authenticity sells, while deception always fails. So be it adverts or services, the brand vision should shine through.
- Question 3: What solutions does the company offer to customers?
Brands exist because there is a demand for their continued existence. For example, in the recent COVID-19 pandemic, the world found solace in the digital environment. During this time, students turned to online classes, households bought groceries and did other shopping online.
In these uncertain times, the retail and food delivery companies provided an effective solution to millions of people throughout the world, thereby effectively solving their customers’ problems.
2. Build a Buyer Persona
A buyer persona is a detailed description of an ideal customer who represents your target audience. To create this persona, you need to sharpen your research skills. You’ll need to perform in-depth research across several digital platforms. One way to build a persona is to base it on the customers that have already purchased your products or services.
We are sharing a list of factors involved in building a buyer persona.
Geographic Location: The primary factor that allows you to narrow down your target audience is the location. If the business is local and serves only a particular region, your ideal customer lives there.
For example, a newly launched local Florist in Pasadena wants to use digital marketing to spread awareness and establish its presence. The geographic location for this would be Pasadena. So, your digital marketing strategy is tailored to people in Pasadena.
Age: A look at Flowerweb’s statistics will give you some insight into the age groups of people purchasing flowers.
Based on the data, we can conclude that the consumers aged 18-29 are the front-runners in ordering flowers online. So, if the goal is to buy flowers online, a florist can target this age group: 18-29. So, now you have narrowed down your result to people from Pasadena aged 18-29.
Gender: Since the same study shows that men are 4% more likely to make online purchases than women, we can set the gender for this buyer’s persona to Male. However, keep in mind that 94% of women buy flowers at local stores or from street vendors. So, the buyer’s persona can be tailored to entice them, influencing them to visit the florist in Pasadena.
Based on this study, your target audience includes both males and females. Now, the buyer persona is a People from Pasadena aged 18-29, for all genders. Other essential factors may include the person’s job or income, which will help you further narrow down your target audience, helping you build an accurate buyer persona.
More information you can collect in the research phase:
- Job and income: Suppose your ideal buyer is a male who surprises his partner with flowers now and then. You’ll want to find the income bracket of the male customers so that you can build a strategy to attract those.
- Hobbies and Interests: For example, people who enjoy gardening or making flower crafts. They are more likely to visit a local florist.
- Challenges faced: Consider the flowers they often purchase, stock up on those. Also, you can entice them with rare flowers that they can’t find anywhere else.
3. Set an Objective for your Digital Marketing Strategy
It is similar to defining a brand’s motives. Your digital marketing strategy needs a firm direction and a clear objective. It will help you understand what you want to accomplish with the marketing campaign.
Let us share an important tip: The objectives of the digital marketing strategy should be the same as the goals set by the brand. For this, you can use the data acquired while defining the brand.
Based on the brand’s preference, these objectives can be long-term or short-term. Suppose, initially, a local florist wants to spread awareness about his/her/their new shop. The digital strategy can be tailored to these specific criteria.
Image credit: The Balance Small Business
Business experts stand by the term: S.M.A.R.T Goal Setting. SMART stands for Specific, Measurable, Attainable, Relevant, and Time-based. These are the ideal factors necessary for setting goals.
S.M.A.R.T Goals Applied to Florist’s Digital Marketing Strategy
- Specific: The florist has a specific goal of spreading awareness about their brand.
- Measurable: The florist needs to measure whether the goal has been accomplished. Nowadays, several tools can help you effectively monitor the effectiveness of the digital marketing strategy.
- Attainable: With a buyer’s persona, the florist can set realistic goals, such as increasing brand awareness or generating leads. The key is to set goals that can be achieved and are feasible for your business.
- Relevant: Digital marketing encompasses a lot of tools and platforms. Focus on the platform that will help you achieve your goal, which is relevant to it. For example, the florist digital marketing strategy will benefit greatly from SEO and SMM.
- Time-based: The florist’s goal is to spread brand awareness. So they can set a timeline of 2-3 months. In many cases, the initial brand awareness expedites word-of-mouth marketing, leading to a steady flow of customers.
4. Run a Competitive Analysis
Running a competitive analysis has been made easy with tools, such as SEMrush and Similarweb. These allow you to do comprehensive research about the competitors, giving you information that will help you build and perfect your strategy.
Steps to run a competitive Analysis:
Step 1: Identify your competitors: Your business competitor could be:
- A direct competitor: Someone who is offering the same products/services
- An indirect competitor: Someone who targets the same customer base.
Identifying them will help you gather data about the competitors. Once you have collected this data, you can evaluate it to build a proper digital marketing strategy.
Step 2: Organise the collected competitor data: You can use a simple spreadsheet to organise the data systematically. Some digital marketing tools allow you to export the data collected into documents, PDFs, or spreadsheets. It varies based on the tool.
Step 3: Evaluate the competitor’s digital presence: Once you have organised the competitor data, it’s time to analyze their online presence.
- Website analysis: Assess their website to see if it runs smoothly. Do they often engage with their audience? If they do, how frequently? Do they have a digital marketing campaign? The pop-ups asking you to sign up for an email newsletter is the key identifying factor of an email marketing campaign.
- Social Media Analysis: Find out which social media platforms they use. Evaluate how they are interacting with their followers. Check out their posts, including the multimedia such as photos and videos. As you go through their social media feed, you’ll notice a pattern that offers hints about their social media strategy.
- Online Reviews: Search engines like Google have made the reviews readily available, so often you don’t have to go searching for them on review websites. Other than Google, Facebook and Yelp are other websites that offer genuine customer reviews. With this valuable information, you can build a strategy that works where the competitors fail. You can identify their strengths and work on filling the gap left by their weaknesses. It is one of the ways to grab the attention of your prospective buyers.
Tools to evaluate competitors’ digital presence: Google AdWords Keyword Planner, Similarweb, Ahref, SEMRush, Sprout Social, MozBar, BuzzSumo, etc.
#Review and Optimise Your Current Digital Marketing Strategies
These four steps are essential in building a dedicated digital marketing strategy for all platforms. After the implementation of your S.M.A.R.T digital marketing strategy, you can monitor your Marketing campaign with marketing analytics tools such as Google Analytics, The AdWords Performance Grader, SEMRush, BuzzSumo, and CrowdBooster.
At this stage, you can track and measure the results of your strategy. The results will show you how well the digital marketing campaign is doing and what works and what doesn’t. If something doesn’t work, you can optimise the strategy by updating it accordingly.