One of the most important facets of building and growing your business or presence online is the development of an effective Digital Marketing Strategy. The commonest mistake most companies make is to just rush headfirst into digital marketing.
Detailed research and planning are required to get the most out of digital marketing in today’s world.
A digital marketing strategy is composed of five distinct elements:
1. Objectives & Goals
A critical foundation to any digital strategy is the identification and prioritization of key objectives and goals from the outset. Without this, the strategy can run into difficulty as there is no direction or roadmap and mistakes can be made – sites launched too early, incorrect targeting, budget exhaustion or disillusionment due to insufficient analytics. It is essential to clearly define what is the purpose and end goal of the strategy to ensure this can be reached without any obstacles.
2. Targeting & Market Segmentation
A second essential element of a digital marketing strategy is to identify who your target market is and how can you access these customers. Detailed analysis of your product or service’s potential customers and segments allows you to refine and target your digital strategy to ensure you are engaging with the right consumers and that you can realise optimal return on investment.
The strategy element gives the overall picture of what the plan should be based on the objectives and market analysis. It is the bigger picture element – what are the key tactics to be utilised and what are the main resources required. It lays out the framework for the tactical and implementation elements of the overall plan.
4. Tactics & Implementation
In the tactical element, specific sections of the strategy are highlighted and expanded in greater detail to give a tactical framework – an actual detailed plan of activities and how these are proposed to be implemented. It is the practical tangible aspect of the overall digital strategy. Furthermore implementation timelines and procedures are discussed, ensuring maximum efficiency and minimal scope creep.
5. Measurement and Analytics
The final and critical element of any digital marketing strategy is the measurement and analytics section, which details how will progress and results be measured. Many digital strategies experience client disillusionment and confusion post implementation as results are difficult to quantify and visualise. A detailed measurement strategy will reassure the client and give transparent and clearly defined measurement goals, ensuring they see results and return on investment.