The study done by Smart Insights reports 46% of brands do not have a digital marketing strategy, while 16% have a strategy but have not integrated it into their marketing activity. We certainly concur in these percentages.
The time has come to plan the strategy to use for this year. Following are the 5 most important steps a business owner or marketing director should take to ensure their digital marketing efforts create a real impact to their bottom line.
1. Take a Look Back
Analyzing your previous strategy’s, past successes and failures. There is always something to learn from what you have done that will keep you from making the same mistake twice.
- Pull up you Google Analytics and review your activity.
- Go to your Google’s Benchmarking Reports and compare your progress to your competitors.
- Analyze your competitors’ strategy while you are at it.
- See what keywords are driving organic traffic.
2. Develop New Mission
- Define your business’ overall mission/objective. The digital marketing strategy must be part of the master business plan.
- Determine the primary objective the digital marketing strategy is to achieve.
- Get specific with the numbers each department will be held accountable for achieving.
- Be realistic and avoid setting expectations too high.
- Determine what tool will be used to measure the goals. Most businesses use Google Analytics to measure conversions and individual social media analytics to track engagement. Others will use services like BuzzSumo to assess the success of their content marketing.
- Make sure to determine which metrics matter most to your leadership team.
3. Who is the Target Audience?
- Make note of all the demographic information on target consumers – age, gender and location.
- Identify the problem the consumers have business can solve.
- Stay focused on the ‘Audience Reports , provided by Google Analytics, to identify key characteristics of the consumers coming to your digital footprint.
- Determine who influences to them.
4. Allocate Ample Budget
Take stock of all resources.
This where the business decides to outsource the digital marketing or increase budget to manage the processes in-house. Do not short your digital marketing by not providing an ample budget.
Identifying Your Resources:
- Review previous year’s budget matched to the weaknesses or failures experienced. This will prepare the organization for where the increase in budget is expected.
- No videos in the previous year will result in a need for increase in funding to cover for the videos needed for new strategy.
- No social community management in the previous year’s budget will call for an increase in the budget of the new strategy.
- Review current staff to determine the capability of achieving the goal. It is important to ensure no one person will be over stretched or over worked.
- Determine if the strategy should be focused on hire more people to manage the digital marketing in-house or if it handing off the strategy to a digital marketing agency would make better financial sense.
- Have the staff brainstorm new ideas for future strategy.
- Review digital marketing pillars. Decide which to keep and new pillars to develop.
- Clearly articulate the goal for each pillar.
5. Develop the Strategy
Now it is time to develop the digital marketing strategy. The prudent method would be to bring a digital marketing consulting to hold a development session that keeps focused on what works.Strategy Development:
- Make sure all decision makers are present.
- A timeline should be established on who does what when.
- Whiteboard the brainstorming and mind mapping.
- Don’t be afraid of thinking outside the box.
Developing a digital marketing strategy is not easy but has to be done if any success is to be realized. Strategies based on experience are proven to give the strategy a greater chance of success. Strategies that are video centric have an even better chance of success.
To make sure your strategy is based on the realities of digital marketing it is best to hire a digital marketing consultant. Once the strategy is developed the business decision makers have a logical way to determine if the business should go it alone or hire a digital marketing agency to manage the strategy for them.
Either way, let us now how we can help.
SyncLab Media has a number of consulting programs to meet all business’ needs. Contact us today to schedule your session. synclabmedia.com