Starting with the Basics
The economy might look unpredictable right now. But having a solid marketing strategy is the best way to ensure you hit your revenue goals. After all, businesses that actively market to their leads get a 20% boost in sales.
But hold off on jumping into your next campaign feet-first. Instead, it pays to get a comprehensive digital marketing strategy to help you maximize your budget.
Keep reading for a simple guide on how to craft your digital marketing strategy.
Start With Your Customer in Mind
An excellent digital marketing strategy starts with a look at your target audience. The clearer you are on who you want to sell to, the clearer your marketing strategy will be.
You’ll need to research your customer’s demographic profile if your business is new.
But try to expand beyond the demographics if you can. Find out about your customers’ interests, internet habits, and affiliations. That depth of knowledge will help you later on when deciding where to advertise or promote online.
If you have an established business, take some time to survey your existing customers to help you build this profile.
Check Out Your Competition
Competitor analysis is vital for crafting an effective marketing strategy.
You can do detective work to determine how your most successful competitors attract customers. That approach will be a significant shortcut to uncovering the marketing strategy that will be most effective for your business.
Take SEO, for example. You can use an SEO tool to see what keywords your competitor ranks for and use this information to shape your SEO strategy.
You can also use ad tools to see what ad placements work well in your industry based on your competitors’ actions.
And you can also look at what trending content your competitor uses on places such as social media. That will clarify what content strategy will work well for your audience and target customers.
Set a Budget and Monitor Metrics
Your budget is one of the first things you’ll want to establish with your marketing strategy.
You’ll know best what your business can afford to spend on marketing. But there is a more important factor you’ll want to consider beyond your budget: your key marketing metrics.
Your business’s most important marketing metric will be your RoI, or Return on Investment.
That’s the target you’ll set for the amount of revenue you expect to see for every dollar you spend on marketing. You can stretch even the smallest budget to go further by monitoring your RoI.
Set Your Goals
We’ve already touched on one goal you’ll want to set in your digital marketing strategy: your RoI. But it’s not the only goal you should have.
You will probably want to set several measurable goals to help you fine-tune and optimize your marketing campaigns.
Those goals might include:
SEO page ranking
Social media following
As you can see, most of these goals are easily measurable, and it’s important to establish goals that you can track over time.
These metrics should help your business see how your marketing efforts contribute to your higher-level business goals, such as profit and revenue.
Determine Your Marketing Channels
Now it’s time to put some detail into your digital marketing strategy.
If you have done plenty of customer and competitor research, you should know what marketing channels and digital platforms will work best for your business. Now is the time to put that together as part of your marketing plan.
You can pick multiple marketing channels to give your business numerous opportunities to get in front of your target customer.
However, you don’t need to pick every channel, and it’s best not to spread your resources too thin by trying to become an expert in everything.
Pick the channels that work well for your brand, work to your strengths, and are places where you’ll likely find your customers.
In other words, if you are focused on the over 60s demographic, then a heavily youth-based platform like TikTok is probably one you can cross off your list.
Plan Your Campaigns
Planning with your campaigns means maximizing promotional opportunities throughout the year. For example, you can tie your campaigns into important calendar dates such as Black Friday or Mothers’ Day (if the latter is your customer demographic).
It also means you will have plenty of time to prepare for each promotion, as an effective marketing campaign takes time to create. You’ll need to think about copywriting, images and graphics, video production, or other content creation.
Set Up Your Analytics
We mentioned earlier in this guide the importance of capturing key metrics to help you determine if your marketing efforts are working. To do that, you’ll need to set up the right analytics and reporting before you launch your first campaign.
At a minimum, that will include Google analytics. If your marketing provides plenty of traffic generation, make sure you have custom monitoring in place in this tool (such as capturing leads and conversion rates).
You’ll also find it helpful to use analysis tools as part of your marketing channels.
All major social media platforms offer an in-house analytics suite. You can also buy separate tools that integrate with these platforms to capture more sophisticated data.
Likewise, all ad platforms offer an advanced suite of reporting and analytics to help you monitor your ad spend and results. Modern email autoresponders also come with plenty of helpful analytics features.
Make Time to Review Your Strategy
It’s easy to let some marketing campaigns run definitively. But even if you are starting to see results, that isn’t an opportunity to sit back and relax!
You should always take the opportunity to review your digital marketing strategy to see what worked, what didn’t, and what you need to change next time. That’s what will help you hit those big marketing goals.
Are You Ready to Draft Your Marketing Strategy?
You need to match your business ambitions with a digital marketing strategy that will help you scale those great heights. So use this guide to begin thinking about how you want to promote your business in the next twelve months.
Do you want to hit those marketing goals quickly and effectively?
Then your best option is to hire an expert team who knows how to do that.
Take that all-important next step by contacting our team for a no-obligation chat about how our digital marketing services can help your business.