Did you know that with a clear digital marketing strategy, you can report a growth improvement of more than 60%? If you’re an entrepreneur, that’s a big deal.
Most businesses appreciate the fact that, in this digital age, they need to use digital marketing channels such as email, social media, search engines, and websites. Yes, they use these tools. But most do not have a digital marketing strategy.
See, a digital marketing strategy is a plan – a pre-determined set of actions to use various marketing platforms to achieve specific goals.
In this post, we are going to show you the importance of a digital marketing strategy. By the end, you will be ready to take the necessary actions to formulate an effective marketing plan.
1. Have Clear Goals
What do you want to achieve through digital marketing? Goals are the main reason why you need a digital marketing strategy.
We recommend having SMART (Specific, Measurable, Achievable, Relevant, and Time-Bound) objectives for your digital marketing approaches.
- Specific: Your goals should be specific. For instance, increase traffic to your blog through email marketing.
- Measurable: Your goals should also have a qualitative or quantitative attribute. Say, a 50% increase in traffic through email marketing.
- Achievable: Set achievable goals by considering your resources (website, social media reach, email list, product inventory, etc.) and time. For instance, increasing traffic by 50% through email is unrealistic if you don’t have a mailing list.
- Relevant: Your goals should be relevant to the overall objectives of your business. An example of an overall business goal is increasing annual revenue by 10%. Set short-, mid-, and long-term goals focused on achieving that goal.
- Time-bound: Each goal should be tied to a time frame. That’s the only way you can effectively measure and make changes to improve results.
Goals are a critical aspect of creating a digital marketing strategy. SMART goals help create an effective and successful digital marketing strategy.
2. Create An Working Multi-Channel Approach To Marketing
Your online customers are everywhere, social media, search engines, websites, and so on. That is why you use different online marketing channels.
However, all these channels require a different approach. That’s where a digital marketing strategy comes in. It allows you to plan how you are going to use the different channels to achieve your goals.
3. Effectively Measure The ROI (Return on Investment) Of Digital Marketing Campaigns
One of the main advantages of digital marketing channels is they come with multiple tools to measure results. However, according to TrackMaven, many small businesses struggle to attribute results to investment.
A marketing strategy defines the budget and the allocation of the budget. So, you can easily track how much you spent on what and see the ROI.
4. More Targeted Marketing By Understanding Your Audience
The analytics tools of online marketing channels give you useful insights into your audience. You will know how many people are interested in your business, their preferences, age, gender, when they use a specific platform, how often they use social media, and so on.
With these insights, you can adjust your strategy and launch more targeted campaigns. For instance, if you identify that most of your social media audience log in in the morning, you can make plans to publish content during those hours.
5. Improve your marketing campaigns
When creating a marketing strategy, you will need to evaluate existing marketing efforts. That they’re not bringing results does not mean they could not be successful. It means you need to improve them by, among other things, updating them to current marketing trends. For instance, you could improve your email marketing campaigns through automation.
6. Avoid Duplication Of Marketing Efforts
One of the dangers of marketing without a plan is the duplication of efforts. That’s especially true if you use different tools or marketing agencies to perform the same tasks. Duplication of marketing efforts is a waste of both time and resources.
With a clear digital marketing strategy, you exactly know what is getting done at any given time. Therefore, for more results, you can focus on other approaches you’re not using instead of unknowingly re-investing on the existing ones.
7. Create Marketing Campaigns Unique To Your Needs
Every business has unique branding and marketing needs. Yes, you have competitors selling the same products as you. But your marketing issues are different. More importantly, your brand and brand voice are unique.
Another critical aspect of creating an effective digital marketing strategy is launching different marketing campaigns that address specific needs. Besides, if you have different products, each requires unique and independent marketing approaches.
8. Tailor A Powerful Online Value Proposition
Success in online marketing channels requires that you create a compelling online value proposition (OVP). Like branding, OVP tells prospective customers why you are better than the competition. It is the reason engaged online customers will open your website, return, and buy or register.
A digital marketing strategy helps create a powerful OVP because it helps you understand your prospective customers, what they like, their online activity, what they want your products to solve, etc. Consequently, the powerful OVP you create will help your marketing efforts.
9. Level The Playing Field With Large Businesses
Implementing a digital marketing strategy does not require huge budgets only available to large companies. However, an effective digital marketing strategy is highly dependent on two things: in-depth knowledge of your products and understanding your target audience. After understanding those two things, even with a small budget, you can implement a successful marketing strategy.
10. Your Competition Has A Digital Marketing Strategy
Keap conducted a survey in 2019 that revealed that more than 50% of small businesses are using digital marketing strategies to win more customers. It follows that your competition is implementing a digital marketing strategy. The more you delay, the less the chances you will catch up. 2020 should be the year you make sure you don’t get left behind in the digital marketing train.