With a little over three billion people online, it’s natural that the current marketing landscape is for the most part digital, which is why you require a digital marketing plan to survive in today’s world.
In 2014, a study conducted by Salesforce found that 67% of marketers attributed an increase in sales to their digital marketing strategy, while 64% reported higher engagement rates and 61% experienced increased return on investment.
Only 34% of marketers however, have a documented strategy in place. The remaining 66%, they are essentially walking around in the dark following no clear path in order to generate results.
So, what is a digital marketing strategy?
A marketing strategy provides the framework your company needs to follow for the best decisions for strategic development and implementation. Below we will see how to kickstart your online marketing by building a digital marketing strategy framework for your business.
Identify your customer base
When you ask yourself, ‘What is digital marketing strategy,’ the first thing that should come to mind is who your prospects are.
The very foundation of your online marketing strategy should rely on a good understanding of your customer base in order to generate leads and produce higher conversions.
The more accurately you are able to narrow down your targeted audience, the better the results you’ll generate by eliminating irrelevant prospects.
Your targeted audience is the main key when trying to figure out what strategy to implement.
According to a study conducted by Juniper Research, “a targeted approach has the potential to improve conversions rates by as much as 355% from email marketing alone, potentially increasing profits by 781%.”
To begin defining your customer base, you should do the following:
- Analyze customer profiles
- Evaluate current and future customer cycles
- Observe and predict customer response and purchase behavior
- Define customer channel preference
To elaborate on that last point, channel choice is incredibly important. Where are your prospects hanging out online?
After you find that out, make sure you are making yourself known in those areas. This is the most crucial step when creating any of your online marketing campaigns.
Hope you found this information interesting. Thank you for tuning in!