A digital marketing strategy is a series of actions taken on various marketing channels to reach a defined business goal. An effective digital marketing strategy leverages multiple marketing channels and a meticulously designed online marketing campaign to meet a business’s unique goals.
Why Do You Need Digital Marketing Strategies?
Digital marketing strategies boost your business’s brand awareness and bring in more customers. Benefits of digital marketing strategies include staying ahead of the competition, increasing the click-through rate (CTR) of your website/portal, and increasing the organic revenue of your business. Each digital marketing strategy is unique and designed for achieving a specific business goal, which is why they are so popular in the mainstream marketing world.
Crafting an Effective Digital Marketing Strategy
Build a Buyer Persona
For any digital marketing strategy to be successful, you must identify your target audience. For this, you need to know who you are marketing to. To accomplish this, you need to identify the various customer personas that might engage with your business. Creating a separate segment for each buyer persona in your marketing can help you garner amazing results.
1) Demographic Information
Your business must have a clear view of exactly where your major website traffic is coming from. This would help you align your marketing efforts to locations where they can be most effective and revenue-generating.
Using Web analytics tools, it is quite easy to capture the location of your website traffic. Tools like Google Analytics, Ahrefs, Moz Pro, and HubSpot can help you track your website traffic and pinpoint the location your website is capturing the most traffic from.
While identifying the age demographic might not be relevant for some businesses, it is still an important metric to capture. Gathering age-related data from your customers can help you build strong buyer personas and identify new trends within your contact database and existing prospects. This can help you refine your marketing strategies and ensure that your efforts are targeted towards different age demographics.
Your audience might not want to share sensitive personal information like their income. Hence, it is best to conduct personal interviews with them. Audiences might be more comfortable sharing this information personally rather than through online forms.
This information, when captured precisely, can help you fine-tune your buyer personas, give you insights into their spending limits, and help you develop a digital marketing strategy that suits their pockets.
Your existing customer base can provide you with a good idea of the job titles. This is especially helpful for B2B companies to develop different types of digital marketing strategies, as job titles can give these companies the ammunition they need to develop targeted marketing campaigns.
2) Personal Information
You should have a good idea of the problem statements or challenges that your services or products solve for your customers. This should give you a clear picture of the goals your buyer personas have. This can be further cemented by interacting with real customers and capturing their opinions on why they’d engage with your business. Your customer service and internal sales representatives can also add to these insights from the interactions that they’ve had with customers.
Knowing your customers’ most common interests and hobbies can help you expand your product or service offerings. For instance, if you are an eCommerce fashion business, it would be quite a significant insight for you to know that a large chunk of your customer base is into sports and fitness. This can significantly inform your future partnership-building efforts and help you expand your product catalogue.
To build a rigid buyer persona, it is crucial to assess your customers’ priorities. Interact with your target audience and existing customers and capture their expectations from your business. For instance, if you are an eCommerce software company in the B2B industry, it would be highly valuable for you to know that the target audience prioritizes customer support over getting a lower price. When leveraged to its full potential, this insight can significantly boost your business’s customer satisfaction.
Being a solution provider, you must know what challenges your target audience faces and what you can do to resolve them. To identify the common challenges faced by your customers, you can interact with your customer-facing employees, sales representatives, and customer service employees and assess what can be done to eliminate those challenges.
Build SMART Goals
SMART stands for
- Specific: Defining objectives and being precise with the metrics is the main purpose of setting goals. Vague benchmarks like “convert new leads” should be avoided. Rather, it should be “convert X amount of leads.”
- Measurable: Being able to measure whether you’re attaining the goals you set is equally important. When your goal is to “convert X amount of leads”, you should be able to measure whether you are hitting that “X” number.
- Attainable: Setting realistic goals is crucial in determining the success of your strategies. Aim to set competitive goals rather than unrealistic ones.
- Relevant: The goals you set should seamlessly align with your campaigns. They should be flexible and match with what you are trying to achieve through them. For instance, if your goal is to “send X number of emails to customers”, then it should be a part of an email campaign.
- Time-bound: Ensure that you have set realistic timelines to achieve your goals.
Each of the business goals defined in your digital marketing strategy should follow the SMART methodology to ensure optimum results and success rates. To craft an effective digital marketing strategy, each of these terms should be built upon and should lead to the main goal. You must heavily audit your strategies based on SMART goals and identify any unhealthy elements that might prove to be harmful to your business.
Evaluate existing digital channels
There are three types of digital channels –
1) Owned Media Channels – Channels owned by your company
Any digital assets that your company owns comes under this category. These can include your social media channels, blogs, infographics, images, and much more. Your business controls this media completely. Owned media also includes any offsite content that isn’t hosted on any of your websites, like blog posts on Medium, images on Pinterest, and much more.
2) Earned Media Channels – Channels earned by your business through word of mouth and good relationships
Any exposure earned by your business through positive word of mouth, reviews, ratings, and so on comes under earned media. Earned media can be described as the recognition and exposure you receive directly or indirectly as a result of various marketing methods like press releases, guest posts, PR efforts, positive reviews, and content shared by your audience.
3) Paid Media Channels – Channels you pay for marketing
Any marketing channel or platform used by your business by paying them a certain amount to capture the attention of the target audience comes under Paid Media. This includes channels like Google AdWords, sponsored or paid guest posts on other websites, paid ads, and so on.
Existing digital channels and assets of a business play a crucial role in a digital marketing strategy. You must evaluate which digital channels are garnering the best marketing results for your business, and leverage them to their full potential.
Audit your owned media campaigns
Owned media is possibly the biggest asset a business has for building an effective digital marketing strategy. Every message that your brand can broadcast to your audience can help you convert website visitors into leads and significantly boost your online presence. Hence, it is imperative to regularly audit your owned media campaigns to ensure that your content is top-notch and appeals to your target audience. To ensure this:
- Detect the scope of improvement in your existing content
- Create an inclusive content creation plan to fill in the gap in existing content
Audit your earned media campaigns
Auditing your generated media campaigns can give you valuable insights into which types of digital marketing strategies are working and which are not. You can assess which earned media source is generating most of your leads and traffic and which ones are the least effective.
Auditing and assessing historical data can help you figure out which earned media channels you need to invest more time and resources to achieve your goals. Moreover, it can also help you develop unique marketing strategies that can be run on earned media channels that you know would capture your audience.
Audit your paid media campaigns
This process is pretty much the same. You would evaluate which paid media platforms show the most effective ROI for your campaigns. For instance, if you’ve spent the same amount of funds on ads on Facebook and AdWords, but only AdWords is showing good results, it might be time to either channel more money into AdWords and less in Facebook or do away with Facebook ads altogether.
Set a Budget
After you have defined your business goals, evaluated your digital channels and assets, and accumulated buyer personas, the only thing that remains is setting a budget for your digital marketing strategy. Examine all aspects of your digital marketing strategy and its execution and then set a holistic budget with room for spending some more on the strategy.
Track your results
The performance of your digital marketing strategies should be closely monitored and measured. Using tools like Google Search Console, Google Analytics, Ahrefs, Moz, and so on, you can effectively keep track of your campaigns or strategies and evaluate their ROI.
Few strategies to implement
This is the most commonly used form of online marketing. Blogging can accomplish a lot of things for your digital marketing strategy. Adding relevant keywords, publishing the content on forums and external websites, using internal links, and also writing promotional call to action (CTA) in blogs can bring in a good chunk of organic traffic to your website.
Videos are the most consumed form of media in today’s world. Putting out visually appealing videos can greatly contribute to the success of your digital marketing strategy. Create targeted videos promoting the main services/products of your campaign and publish them on streaming platforms and external websites to attract more viewership.
Email marketing is still one of the most effective marketing strategies for businesses. Creating an elaborate list of potential customers via data mining and sending them personalized emails regarding your services can attract a lot of attention. However, it must be done in a non-generic and interesting way so that the emails are not classified as spam by customers.
Over the past decade, the popularity of podcasts has shot through the roof. Millions of people listen to thousands of podcasts every hour of the day. They are a desirable platform to put subtle promotions out, especially on podcasts centred around the same theme as your products/services.
Social media marketing
Whenever the question of what is a digital marketing strategy comes up, social media marketing is an integral part of the answer. It primarily focuses on advertising or marketing your brand on various social media channels to increase brand awareness and boosting lead conversions. Any campaign in social media marketing can be run or featured on multiple social media platforms.
There are many paid advertising methods, but one of the most popular and cost-effective ones is Pay Per Click or PPC. What is PPC? It is an auction-based form of advertising. In this form, you can decide where your ads show up by bidding on keywords. Whenever a user searches for the keyword you bid on, and your ad will show up. Since these ads are displayed above the organic results on search engines, they prove to be quite effective. In this form of paid advertisement, you pay for the clicks that the ads generate. In the most basic terms, you are paying for results rather than the ads.
Benefits of Digital Marketing Strategies
One of the most effective ways to boost awareness of your brand is through a competent digital marketing strategy. Not only does this activity draw more attention to your brand, but it also increases the brand’s reach. One of the very helpful catalyst in boosting your brand awareness is Word of mouth. It is the easiest and the quickest way to market your brand.
Increase in Web Traffic
Since your business is marketed across various channels and platforms through a digital marketing strategy, your website is mentioned in the form of internal or external links or promotional redirects on the Web. This is very helpful in generating more organic traffic as users from diverse backgrounds, unaware of your website until now, become aware and interested in it if you offer services and products they are looking for.
Increase in Conversions and Revenue
Since you are now generating more traffic to your website, chances are that more visitors will be converting into customers and buying from you. This helps in increasing your overall revenue, which is one of the primary goals of a digital marketing strategy.
Carrying out a digital marketing campaign is a tough nut to crack, especially in the competitive climate of 2020. Hence, availing the services of an experienced partner like Infidigit, an SEO company in Bangalore, can take you a long way in developing the best and most effective digital marketing strategies for your business.
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