A comprehensive digital marketing strategy will provide you with a road map to guide your marketing initiatives, allow you to gain meaningful customer insights, and most importantly promote business growth. Now is as good a time as ever to assess your business goals and develop a clear digital marketing strategy which will help you reach them! Below, the digital marketing gurus at Zest Social Media Solutions discuss important steps to take to ensure that your digital marketing efforts create a real impact on your bottom line.
Clearly Define Your Goals
Knowing what you want is half the battle. Defining your marketing goals, and how they align with those of your overall business will define the basis from which you can develop a strategy. Ask yourself, ‘What do I want to accomplish?’ and ‘How do I define success?’ The answer to these questions will help you to assess the gaps in your current strategy, and then establish the metrics for success (also called key performance indicators or KPI’s) for your campaigns.
Establish Metrics and Analyze Previous Strategies
In establishing your KPI’s, it is important to be specific. Identify metrics and results that are measurable, realistic in scope and achievable. Begin by looking at your website performance through Google Analytics. This tool will allow you to evaluate your website’s audience, the prominent sources of your existing traffic, and your content’s performance—all of which are key factors when refreshing your marketing activity and understanding who your efforts are reaching. You may also want to assess the performance of competing businesses within your industry using Google Benchmarking Reports. These reports can provide you valuable insights into the website performance of other close competitors, allowing you to cater your new strategy to position your business competitively.
Additionally, be sure to analyze the performance of your previous digital marketing campaigns as well as the current size of your target market to understand what is feasible within your audience and budget. Assessing the performance of past campaigns will also help you to avoid any shortcomings of previous strategies.
Define Your Audience
Your audience—clients, customers and potential leads—is the lifeblood of any successful marketing campaign, so catering to them should be a top priority. As a business owner or manager, you already know your audience, who they are and what they want. Capitalize on this knowledge by using it to develop audience personas. This will make both targeting and achieving the right tone when creating copy much easier.
Start with the basics being age, gender, race, location, socioeconomics etc. Once that is done move onto more intimate details of their life such as interests, actions, and goals. You can dig even deeper by using either (or both) Facebook’s audience insights and Google’s audience report allows you to look at further key characteristics of those who fit, demographically, in your target market.
Assess Your Resources
One of the most critical parts of developing a new digital marketing strategy is assessing your resources, i.e. your budget, marketing channels and team. Begin using data from previous campaigns to understand the reach the previous budgets afforded you. Then, look at your overall marketing budget, and realistically determine how much you can allocate toward your strategy.
Your budget will need to take into consideration the channels you choose to employ within your strategy. For example, a strategy revolving mostly around organic posting and engagement will not cost nearly as much as one that implements paid ads. However, it is important to note that a successful strategy will typically balance both.
In addition to assessing the channels you plan to use to create a budget, you should also thoroughly analyze which digital channels are currently delivering results for your business (and other business like yours) to know which are valuable investments and which could be avoided. Money originally allocated to channels deemed unsuccessful could be reallocated to other channels or mediums.
Finally, determine if your current team has the skills and breadth to take on the workload of the new digital strategy effectively. If not, you may want to consider hiring outside help.
Make the Plan, but be Flexible
Once you have done your due diligence, it is time to establish and implement your strategy. Make sure to write down exactly what your goals and KPI’s are, and the steps you are going to take to satisfy them while catering to your audience and budget. This way, you will always have a written plan to refer to if you get thrown off course. Before you begin, be sure to create a baseline report so you have something against which you can gauge your results.
Keep in mind that your strategy may change as time goes on, as the market often dictates business behavior. Not every assumption you make will be on par, and you won’t always be able to predict how a customer will behave, but, consistent analysis will allow you to keep track of any sudden changes in performance or audience behavior, so that you can react appropriately.
Consult with an Expert
If you have questions about creating a new digital marketing strategy for your business, contact the digital marketing strategists at Zest Social Media Solutions. We’d love to chat with you.