What is Digital Marketing Strategy?
A digital marketing strategy is a channel strategy which means that it should be informed by research into customer channel behaviour and marketplace activity (intermediaries, publishers and competitors). It should be based on objectives for future online and offline channel contribution percentages.
A successful Digital Strategy should be built on reviewing seven core abilities which include strategic tactics, performance improvement process, data and infrastructure, resourcing and structure, management buy-in, integrated customer communications and customer experience.
Definitions of Digital Marketing Strategy
A digital marketing strategy must be able to define and communicate the differentials of the channel to encourage customers to use it, How, it needs to manage channel integration. – Smart Insights
A marketing strategy is an overall plan of marketing actions you intend to take in order to accomplish a specific goal for your company. – Postcardmania.com
Digital Marketing Strategy
Dr Dave Chaffey‟s approach for digital marketing planning (DMP) is regarded as a basic framework for formulating a marketing strategy for digital channels. According to Dr Chaffey, every business must structure (formulate) its marketing plans by assessing the present opportunities, strategy and actions.
Every marketer must need to analyse the market situations and present trends. After critical examining, every single aspect of market conditions a marketer should set „SMART‟ objectives. SMART in this present context signifies: Specific, Measurable, Actionable, Relevant and Time-bound).
Dr Chaffey suggests that in order to set SMART objectives the marketers should review the current benchmarks and the key performance indicators (KPIs) and existing competitors of their organisations that would help marketers to assess the exact business performance and expected growth in the near future.
To make a strategic digital plan, you must assess your organisation‟s digital proposition (what the organisation is offering to consumers) and then connect to your customers by using digital means so that you can further promote the organisation proposition.
As a marketer, you must always define the online value proposition (OVP) of your organisation. This means clearly expressing what the company is offering to customers online e.g. brand positioning.
Apart from all these, you must also select target market segments and define specific digital targeting approaches.
It is the third and final stage that requires the firm to set measurable touchpoints as a management system. You should always establish such a management system that is able to reach the potential audience across all the channels on a digital platform.
The action and final stage of planning also require the marketers to set in place quantifiable content formation e.g. oral, visual or written online media. Furthermore, the budget and management systems are integrating the paid, owned and earned the marketers should also ensure the media of the business.
Online Marketing Strategy and Plan
Online marketing involves research to find out your target demographics and your ideal customer’s personal values. We will go deeper into this topic in a later chapter, but here are some basic guidelines to get started in researching your customers.
Target Your Audience
Hone in on the average customer your product or service is sure to appeal to. Accessing this information is crucial to developing your marketing strategy. Find a non-intrusive way online to find out what kind of customer he is and think of his values when beginning to form a marketing strategy
Think of the Ideal Customer
What kind of customer do you want to develop a relationship with? Thinking of the ideal customer is a good way to develop the ways your marketing strategy will play out. It will also allow you to broaden the appeal of your product or service if this ideal customer is not the same as the average customer.
This extends to the values a customer has in both the product and the means of marketing. A customer will expect good quality and pricing, but what will he expect when it comes to the ways you market to him? Is he interested in a video demonstrating the product or service? Does he want to read other customer reviews of the product or service?
Customers expect information on the product or service they could potentially purchase. Become a resource of reliable and trustworthy information. It will build relationships with customers and brand your company is trustworthy.
Formulation of Digital Marketing Strategy
Building a digital marketing strategy involves:
- A highly tactical course of assessment which every marketer must consider before carrying any marketing activities.
- It involves a multi- step process where all are related to one another.
- The first step is to create a details list of your customers. Maintain a detailed database of your customers with all the potential customer‟s questions.
- Then try to answer all those uncoveredquestions and pain points you have encountered in the first step.
- You have to share that content with your perspective audience through different communication channels.
- Give your content a boost by promoting it through digital channels.
- follow the reciprocity methodology & promote your products through digital ads to those who loved (liked) your content.
- As a marketer you should analyse your result, optimise your content & advertisements.
- Repeat the promotional campaigning and overall promotional activities for better yielding of results.