Why is a digital marketing strategy important
Why you should have an online marketing strategy
The American trade journal for advertising and marketing, AdWeek, stated in 2014 that companies will use 75 percent of their marketing budget for online marketing within the next five years (source: AdWeek, 2014). It is all the more annoying if, despite the large investment, the desired result (return on investment) does not materialize.
“Only about 22% of businesses are satisfied with their conversion rates” (Econsultancy, 2016) (see Hubspot, as of April 13, 2017).
What is this dissatisfaction based on?
The answer is pretty simple: a good one is missing Online Marketing Strategy. This creates false expectations and sets false priorities. Therefore, every company should come up with a strategy.
What does an online marketing strategy include?
An online marketing concept deals with questions about:
- Corporate message
- Company goal and online vision
- Added value of internet use
- Starting position or market
- target group
- Control mechanisms and control options
- Advertising methods
Have core messages, visions and target group in mind
Before considering which possibilities you can use from online marketing, you first have to know what you would like to convey, who you want to reach and what marketing measures have already been carried out.
Sometimes the following questions arise:
- What goals (message, sales, market position) are we striving for?
- What is our online vision (branding, sales, top leaders)?
- Who are our clients?
- What advertising measures have we already used?
Analyze the initial situation
In this part of the conception, a certain know-how of theoretical tools is required in order to get a better overview of the company situation.
In the SWOT analysis, the company must therefore ask itself the following:
- 1. What are our strengths?
- 2. What are our weaknesses?
- 3. What are the risks for us in the market?
- 4. What are the opportunities for us?
Once these fields have been defined, appropriate strategies can be developed (SO strategy, WO strategy, ST strategy, WT strategy).
With the customer journey funnel, the company can try to map the purchasing process of the target customer. This enables him to find out which measures make sense and when.
In the online area in particular, it is important to keep an eye on the activities of the competition, because they are accompanying measures for your own success. You decide how difficult and expensive it will be to enter the market or to implement the goals. This is why a competition analysis is recommended, in which, for example, the following points can be observed:
- Search engine ranking
- Social media activities
- Content activities (such as blogs or online PR)
Choosing the right advertising material and method:
Now it is time to develop an actual strategy. Now it can be decided which mix of online marketing channels makes the most sense
Which outbound marketing channels:
-> I want to push the product / service with the help of forums, print, TV, radio, social media or similar.
or which from inbound marketing:
-> I want to be found for a product / service, with the help of SEO, content, SEA or similar.
Online Marketing Strategy? Might be worth considering
Many companies probably think that they have a digital marketing strategy. Yet they seem to fail.
Why? The fact is that you cannot simply trim the “conventional marketing strategy” to digital. Because, especially in the digital world, time always plays against advertising measures.
Technological trends and technological user behavior change practically in fractions of a second. Keeping yourself up to date and reacting requires a certain amount of discipline and resources.
Smartphones are stared at on average 80 times a day, but German companies use less than 2% of their advertising budget for mobile marketing (see Lammenett 2016: 14)
Furthermore, it is just the case that it is often not enough just to have a website and advertise. Because the website in the form of your own website is also important.
"Companies that published 16+ blog posts per month got about 4.5 x more leads than companies that published 0-4 monthly posts." (HubSpot, 2015) (see Hubspot, as of April 13, 2017)
But does that mean that every company is subject to the same dogma and that it is best to spend all resources on mobile marketing and blogs?
The answer is: not really. Because every company works differently in the digital world. This is where the call for a good online marketing strategy comes into play. This will give you more satisfaction and success in your company.
Make an appointment for a strategy consultation now!
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