5 STEPS TOWARDS A SUCCESSFUL DIGITAL MARKETING STRATEGY
Do you think that your business can exist or move on without digital marketing strategy?
We’ll try to convince you that in an ever-changing digital landscape it is essential to take an advantage in today’s highly competitive environment.
We will also share the crucial points you need to develop an efficient marketing roadmap described below. Digital Marketing Strategy or data-driven marketing is an umbrella term involving set of measures for your online activities that will help you to achieve your marketing goals.
Just imagine that several billion people are online and all of your clients, as well as competitors, are among them. Now consider using specific tools to analyze behaviors of the first ones and managerial decisions of the latters. Even if your business goes pretty well, rest assured that it will be far more successful provided you apply a sound digital marketing strategy.
Discovery is a deep research stage to understand the market, analyze the main players, benchmark your company against them, see all the snags and hidden rocks that hinder you from further growth. During Transformation stage we improve User Experience, create templates for landing pages and perform A/B testing to critically measure assumptions. We perform content marketing and SEO homework to make your website as friendly to search engine bots as possible. And lastly, on Delivery we swiftly drive traffic to your website, create and distribute content, plan and execute re-marketing campaigns to multiply touch points with your audience.
Digital Marketing Strategy STEP-BY-STEP
Let’s now look at the key steps of our Discovery stage methodology.
Market research. First, we get market insights from search. Main goal is to investigate market demand with Google. Search queries usually reflects the common market situation.
Based on the data received we can assume the market capacity and plan for getting the organic traffic. The demand analysis helps to find out audience’s pains and needs, thus build a proper content plan based on the timely semantic core. Information about trends also helps us to understand the most perspective technologies or products that should be promoted to catch the demand in advance.
Competitive research. At this stage, we conduct a comprehensive analysis of the top competitors by researching their traffic sources and finding out the channels that drive it. We also need to explore their key services, communication channels, content on their web-sites, blogs, social networks etc.
Understanding of key products/services and messages of your competitors helps to differentiate your company. Main traffic sources allow focuse your efforts on the most powerful channels that are your competitors. Analyzing the popularity of the particular competitor’s websites will help to find out what services/content drives their traffic. Content is a key to understanding on how often and what are they writing about and build your own content plan. Competitors link profile can help to find relevant referrals and calculate the budget and time needed to reach the top of the SERP.
Web analytics. Now, as we created the picture of the market and competition, it’s the right time to see our place in it. Therefore, we put in focus our web performance and look how it correlates with the discovered trends. At this stage, we analyze your website - real traffic, geography, sources, previous communication results and conversions. We also explore your pipeline (conversion lead into sales): win rate, average check.
To convert web-analytics into an effective business tool, it’s very important to set it up properly and integrate with other data sources (like CRM). Current sales + marketing funnel analysis helps you to identify the gaps between different stages of the sales process. You need to track the funnel regularly, at least on a weekly basis to identify and catch missed opportunities in marketing and sales.
Metrics system and KPI’s development. The next task is to define the metrics in the market context. In other words, we set the KPI’s (Key Performance Indicators) that we shall use to track our progress. Key marketing metrics comprise Traffic Volume, Traffic by sources, Budget, Leads Volume, Cost per lead, Conversion Rate, Marketing Qualified Lead Volume, Sales Qualified Lead Volume, Close rate, Time to close, Cost per close, etc.
Growth Strategy. Now comes the most interesting as well as the most difficult part. Relying on the results of the analysis done we develop a strategy to achieve the particular business objectives. Typically, marketing objectives include some or all of the following: Increase sales/ profit, Grow market share, Target new customers, Enter new markets internationally or locally, Enhance customer relationships, etc. Knowing our specific goal we then look at the market potential and identify the most valuable customers as our target audience. After that we scrutinize our product to see it’s potential and its key values to develop a catching proposition for the customers. The final step here is to determine the opportunities for growth and the specific measures to be taken towards it.
Taking everything into account, all the above points lead us to developing of efficient digital marketing strategy. It should be drawn from market research and focus on the right product mix to achieve the maximum profit potential and sustain the business. Integrated in a proper way step-by-step digital strategy will serve you as a reliable platform for all the key online marketing activities including short-term and long-term goals, minimal budget, content distribution etc.