Success Begins With The Right Strategy
The definition of strategy reads: “the art of planning and directing.” A data-driven plan lays a stable foundation for your marketing. Successful digital marketing increases customer acquisition and reduces spending.
You don’t have to go into your planning period in the dark. Here, we will outline the components of your digital marketing strategy. Furthermore, our data-driven approach accounts for a variety of details. With this information, we create an educated framework.
Analyzing Your Performance Data
KPIs from your previous marketing campaigns illustrate successes and failures. We use this data-driven research to refine our marketing campaigns. Most importantly, proper data analysis prevents wasting money and missing the mark. Reviewing where your company has been helps you to project where it can go. This data identifies short-comings that have hindered progress in the past.
Your Google Analytics account contains useful Benchmarking Reports. Use these reports to track your progress vs. your competition.
Analyzing Competitor Data
Analyze your competitor’s strategy. Create a spreadsheet of their online activities. SEMrush is a tool that identifies a competitor’s SEO strategy. It reports which keywords are driving traffic to a site. It also identifies organic vs. paid traffic to a site. This information shows how aggressive they are with their paid spend.
Identifying Your Resources
Your resources are budget, digital channels, and human capital. Balance your resources and take stock. Use this info to decide what you need to do for the next period.
Create an audit of your existing digital channels. Use reviewed information to decide whether to outsource. Determine whether you should budget for new hires.
Customers Are The Priority
The main focus of your business is the customers. Don’t allow planning to detract from them. You should already know who your audience is. Digital marketers can get caught up in planning, budgeting, and KPI setting. Keep your focus on the end goal.
The audience is the heart of successful digital marketing. Cater to the customer’s emotional needs. Satisfy their deepest desires. This will keep your campaign relevant. Creating fleshed out personas will help you keep that customer in mind.
Developing Useful Personas
Start with the basics. What is your customer demographic? Know your target consumer’s age, gender, and location. Then, dig a little deeper and identify their problems. How can you help your customer solve these problems? Keep in mind, your customer is a human being. They have emotions, desires, goals, aspirations, and fears.
Dive deep into the Audience Reports of your Google Analytics account. Identify key characteristics of your target persona. Who are they? Consider the qualities of your target audience. Also, consider who will be influential to them. Influencers will help you to market your product to your target audience.
Budgeting and Identify Your Means
Look at historical data. What has worked for your business in the past? Have any specific channels brought you quality leads at a low cost?
Google Adwords, Facebook, and Amazon have advertising options. However, these are just a few possible advertising channels.
Allocate a percentage of your budget for each digital channel. Also, paid promotion on each channel is different. Delve into your Analytics to assess which channels are cost-effective. Your ads should have an extensive reach, high conversion rates, and low cost-per-click. In contrast, low performers should be eliminated or revised.
Keep yourself up-to-date on your paid promotion strategy. Revise your allocated budget as you gather data and track success. In contrast, don’t invest in elements that aren’t delivering results.
Your people are a resource. Take note of their capabilities. Also, be realistic. People aren’t productive when stretched too thin. For this reason, make sure each member of your staff has a realistic workload.
Prevent issues by budgeting time and workload. If you can’t get the work done in time, you’re underprepared. Identify whether or not you need to hire more people. Also, be realistic. Make sure you have the financial capacity. As a rule, your team is only as strong as the weakest member.
Determine whether it is cost-effective to do marketing in-house. Otherwise, outsource to a third party agency. Openly communicate with your staff and give them autonomy in their role. Trust makes employees feel empowered. Allow your team to take ownership of their responsibilities. People feel valuable when their opinions and voices are heard.
Analyze performance on current digital marketing channels. Decide which you should keep and which are not beneficial. Determine whether it would be wise to invest in any new ones. You should know what each of the channels is trying to achieve. Is it working? You have at least one designated KPI per digital channel. Remember, your original plan is not going to be perfect. Additionally, every assumption you make is going to be correct. Even the most meticulously crafted plan needs to be tweaked consistently.
Creating Your Digital Marketing Calendar
Create your timeline using a tool like Google Calendar. Your digital marketing calendar shares the plan with your team. Also, allow your team to make edits when necessary. Most importantly, being organized prevents missteps.
Document which digital channels are successful for your campaigns. Highlight the key campaigns you will create and promote throughout the year. In addition, allocate a timeframe for developing the content for campaigns. Above all, preparation allows your team to maximize time and produce quality work.
Regularly Review and Revise Your Digital Marketing Strategy
Create a measurement and monitoring plan (this should fit in with your KPIs). In addition, consistently check the success of the elements in your strategy. If you identify a part that isn’t delivering, isolate the weakness. If the projected KPIs aren’t reached, it’s time to regroup. To clarify, the issue could be posting time, taglines, etc. Then, adjust the setup and pay attention to the results. Comparing new and previous results will sharpen your strategy. Our data-driven approach studies these patterns. In short, logical strategy can be crafted by studying customer behavior.