I think by now almost the majority of people reading this article possess basic knowledge of Digital Marketing...if not! Do not worry, simply google it and you will find tons of content about the same.
This article does not cover anything technical at all. The objective of this piece of content is to consider a few steps before you start planning a strategy which involves Digital Marketing.
Wait!! I do not have any strategy for Digital Marketing yet. If this is you then congratulations...you belong in the category of 46% Brands which does not have a defined digital strategy. (Source: Managing Digital Marketing Study)
It’s high time that we should all realize that Digital Marketing is our Present as well as Future and use right the approach towards it.
I am sharing with you 5 things that you should take into consideration while forming a Digital Marketing strategy for your brand.
Define Your Objective
Do you know what’s the best thing about Digital Marketing? Whatever penny you decide to invest in it, you can always keep a track of your returns (ROI).
However, in order to do that, you need to set some clear objectives that you would like to achieve from your investments in Digital Marketing.
Going a bit technical...set the Key Performance Indicators (KPIs) that you wish to track. Make sure that you set some realistic KPIs. For example, you can track things like an increase in traffic, the number of forms filled, etc.
Analysis, Analysis and Analysis
A logical plan cannot be formulated without proper research. You need to analyze your audience, your competition, online mediums, etc. Market Research can be very time consuming but when you have defined a clear objective, you will know exactly what to research for which saves tons of time!!
So I will strongly suggest that only start the analysis process once you know your objectives.
This stage is never ending...meaning even when you have created a sound plan you still need to analyze whether your plan is working or not.
Know your Audience
Another great thing that I like about Digital Marketing is that you can easily track which audience is reacting to your content and which is not and then you can segment the audience accordingly.
Once you identify the audience that is actually liking your product or service, your returns from investments will significantly improve.
So it is very important to keep on doing A/B testing with Buyer Personas. Start with a broader persona and then narrow it further down based on the results of your test.
DO NOT STOP! Until you find that audience which is genuinely interested in your product/service.
Plan Your Investments
Once the above steps have been completed, it is finally time to get down into the main action...that is planning your Digital Marketing strategy and the amount of money you want to invest in it.
You need to set some numbers for each channel that you want to spend your money into or else Digital Marketing will become quite expensive. The phrase “More Money Greater Success” doesn’t applies here.
I would like to end this piece of content with the following quotes…
“TEST, TEST, FAIL, TEST SOME MORE, SUCCEED” - Growth Hackers
There is no right strategy in Digital Marketing...there is only a logical strategy. So you need to keep on testing, keep on failing until you find the right audience.