2020 can be remembered for the profound effects of the Covid-19 pandemic. Every business has suffered losses and other challenges they are still trying to cope up with. Especially brick and mortar stores have been affected immensely due to restrictions in movement among the general population, while online stores got considerable attention during the period. Businesses who invested in Digital marketing probably saw their best return and performed much better compared to other businesses that didn’t.
This calls for a deeper look into the crisis management strategy of the businesses, not having a backup plan and sufficient preparation to face such situations is what caused so much disruption in the businesses. Though there were very limited options available to businesses, the ones who were prepared with a proper IT infrastructure and an efficient digital presence were able to reap the benefits.
Digital platforms have seen a rise in usage even among consumer groups who probably hadn’t done much in terms of shopping online. Moreover even before the pandemic a great portion of consumers had already started to rely on online content to research products they had on their shopping list. So clearly Digital marketing is trending towards a basic requirement of running a business.
When businesses fail to have an online presence they are perceived to be outdated and lose a lot of potential and even regular consumers eventually as they are unable to keep their attention. Social media and other digital platforms are widely used today in shaping the brand image and public relations. Thus digital marketing is a crucial part of brand promotion and even maintenance, something that has to be given a greater degree of attention and have a proper strategy in place.
What is Digital Marketing?
Digital marketing is the process of marketing products or services using various digital channels such as search engines, social media, email marketing, mobile marketing, etc. The main objective of digital marketing is to promote brands through various digital platforms and reach out existing and new consumers.
An efficient digital marketing strategy requires definition of clear goals, understanding of the markets the business is targeting and regularly revisit existing strategies to meet the current business landscape and the campaigns that are already running or ones that are in the pipeline.
What is digital marketing strategy?
Just like any business process digital marketing should be well thought out and optimised on a regular basis for your business to remain competitive. A strategy describes a series of actions a business plans to take to achieve a certain goal, similarly a digital marketing strategy is a plan that uses online marketing channels to achieve various goals.
A careful evaluation of channels such as owned, paid, and earned media is necessary to establish a plan. You need to first have a clear definition of goals and then explore the various digital marketing options that fit your needs and may involve the use of one or more likely a combination of multiple channels.
Reasons to develop strategy.
• Know your audience
Formulating a strategy for your digital marketing is greatly based upon your target audience’s features and characteristics. This calls for a detailed analysis of your target audience as the dynamics of your online market may be different from traditional channels with different types of customer profiles and behavior, competitors, propositions, and availability of certain marketing channels.
• Definition of goals
Often businesses without a digital marketing strategy tend to invest in all platforms that seem to have any potential and don’t really have clear goals. There are a lot of digital marketing options available and some are better than others depending on the goals you are seeking. Without a proper strategy, you may spread your resources across multiple channels and see the campaign’s underperformance.
• Invest in what your consumers expect
Understanding your online customers and their needs can often be a challenge for any business especially working with customers digitally lacking personal interaction. Unless you know where to look, it can be hard to find the sentiment of your visitors and what they think. Usually tools like consumer survey and social media are used to study consumer behavior. Only when you have proper understanding of your target audience would you be able to achieve the best response from your campaigns.
• Competitor Analysis
Digital marketing is open for advertising globally, though the opportunities are limitless you are also exposed to global players compared to just your local competitors in case of traditional marketing. Hence it becomes even more crucial to keep an eye on the competition and keep up with what they are doing and try to outplay them in the market to keep your market share and retain the interest of your consumer groups.
• Comparison of marketing platforms
Digital marketing has a lot of platforms to choose from and mostly they are oriented towards achieving some specific goal or may even offer solutions to multiple challenges. Often there is a need to use multiple platforms in combination that complement each other and the strategy overall. A clear definition of goals and proper understanding of your consumer base and target audience can help a lot in determining the platforms that can bring in the best result and also to ensure you are not duplicating your work by trying to do the same thing over two channels.
• Constantly changing landscape
Online marketing landscape is highly dynamic and is constantly changing due to the involvement of thousands of companies. To remain successful the companies must learn to adapt to new technologies and tools quickly and have room for improvisation in the master strategy so the newfound opportunities can be exploited and aligned to meet goals with more efficiency. On the other hand, if the businesses are unable to adapt to the new environment they risk losing on their rankings and market share.
• Analysis and calibration
Modern websites come with integrated analytics tools or such reports can be generated through several 3rd party plugins. These analytics can provide crucial insight into various segments on their performance and compare them with the targeted trajectory. Once a strategy enables you to get the basics right, then you can progress to the continuous improvement of the key aspects like search marketing, site user experience, email, and social media marketing.
• Collaboration of all teams
A complex Digital marketing campaign usually involves several channels of marketing, though businesses may set up an in-house team for digital marketing there may be need for involving a freelancer or perhaps even indulging an agency at times. You can also consider inculcating elements of the traditional marketing approach if the goal calls for it. A proper planning and strategy is required to ensure the efforts of all teams are in the same direction and should complement each other to generate targeted traffic.
• Resource Allocation
Digital marketing is relatively cheaper and more cost-effective than traditional marketing. However, when you are setting up a digital marketing strategy you need to ensure sufficient funds are available, and depending on the size of the project you will also need a team capable enough to handle the project. Failing to procure sufficient resources may affect the plans and lead to unplanned decisions that may have adverse effects on the overall campaign.
• Engaging regular visitors
Though expansion and acquisition of new consumers is the primary objective of a marketing campaign, it’s not always entirely a new consumer base that drives the business rather it’s easier to repeat sales to visitors who have already made a purchase in the past. Engaging such consumers can be done with much lesser effort but requires effort nonetheless. Retaining the details and preferences of users and using it to personalize the experience of the visitors can go a long way in visitor conversions.
Digital marketing undoubtedly something every business should invest in and any investment calls for thorough research and analysis. Though the interpretation of the market and consumers is required to develop a strategy. We encourage you to get in touch with our team at GoFindaPro to get professional digital marketing experts to help you put together a solid strategy for your digital marketing campaigns to maximize return on investment and see visible growth in traffic.