Digital and mobile channels are essential for acquiring and retaining customers, whether you're a brick-and-mortar store or an online service, making the creation, streamlining and/or optimizing of an integrated digital marketing strategy vital to the success of your company. This is especially true in 2023 as you continue to safeguard your business against inflation.
What is a digital marketing strategy?
A digital marketing strategy is an actionable marketing plan for expanding your online reach and establishing your business' presence on the internet. It raises awareness about your business and acts as a roadmap for attracting, engaging and converting customers. A well-developed digital strategy includes goals, procedures, analysis, timelines, budget, digital channels and more. It uses specific media and tools to tailor a plan for your unique business, ensuring your marketing efforts are efficient and effective.
Why is digital marketing so important for 2023?
Inflation levels are escalating all over the world, affecting production, services, staff and customers. As of October 2022, the Canadian inflation rate is 6.9%, up from .95% in October 2020 and 4.4% in October 2021. All businesses need to consider the impact of this trend. Data shows that social media marketing, search marketing, digital display and digital video are critical to a business' visibility, making them a necessary part of a marketing strategy and vital to a company's survival. Without a digital marketing strategy, your company may find it difficult to attract and retain customers during this inflationary period.
Reasons why you may need a digital marketing strategy:
There are a number of reasons why a company may need to develop and/or optimize their digital marketing strategy.
Lack of direction: Many companies develop marketing campaigns without a clear goal of what they want to achieve online. Without clear objectives, it's difficult to invest resources and evaluate whether the campaign is successful. A well-developed digital marketing strategy has clear targets, informs the use of resources and, through analytics, allows you to determine the relative success of a campaign.
Lack of success: Trying a little bit of everything is not the most successful approach to marketing. A well-constructed digital marketing strategy, informed by specific goals and accomplished via actionable tasks, moves you in the right direction, while analytics allow you to pivot based on real-time data.
Limited resources: A well-developed strategy allows you to concentrate your efforts and use your time and resources wisely. It gives you access to strategy and planning tools (performance and digital maturity benchmarking, regular marketing data reports) so you can keep track of your position in a competitive landscape.
Unfamiliarity with your audience/marketplace: It's important to develop a detailed, realistic persona to determine content requirements, appropriate messaging and preferred customer journey. Developing an understanding of your target audience is an aspect of a comprehensive digital marketing plan.
Loss of marketing share to existing and/or start-up competitors: Without clearly defined digital marketing strategies, you'll lose visibility, conversion and retention to your competitors.
Less than stellar brand appeal: A clearly defined digital marketing strategy improves online services, interactive tools, digital audience interactions and customer service, boosting the perception of your brand and encouraging existing and new customers to engage and stay loyal.
Lack of integration: Digital media works best when integrated with traditional media and response channels. An integrated digital marketing strategy is essential.
Occurrence of duplication: Some large companies purchase different tools or use different agencies for performing similar online marketing tasks. Investing in an efficient digital marketing plan helps your team plan, manage and optimize digital channels and platforms, free of duplication.
Lack of optimization: Having real-time data through analytics is not enough. You need to review the data and act upon it, continually improving key aspects such as brand image, site user experience and lead nurturing. Without a planned approach, it's impossible to know what is and isn't working, make the necessary adjustments and get the most out of your resources. Digital marketing activities need to be strategic.
Critical elements of a digital marketing strategy:
All areas and categories of your marketing efforts need to work together to grow your business in the online landscape. The internet is constantly growing, expanding and changing, requiring continuous updating of your marketing strategy. The following are the six most critical elements of a successful digital marketing strategy:
Content marketing is the creation and publication of online content. High-value, well-written content attracts, educates, converts and maintains your target audience. It establishes you as a leader in your industry, boosting credibility and visibility. Content may be published in multiple locations and can take the form of:
Native advertising (also known as advertorials, sponsored content, or “sponcon,”) is an online advertising strategy that uses paid media. It's a combination of content and advertising, using sleek and non-intrusive ads that are designed to blend into the website or platform you're browsing. Native advertising creates an integrated user experience. Less disruptive than traditional pop-ups or banners, it fits seamlessly into the organic content being read without feeling clunky or causing frustration. It takes the form of:
News and social media feeds such as Instagram, Facebook and Twitter.
Content recommendations are provided alongside or at the end of an article or website page.
Promoted search listings that appear at the top of Google search results.
Pay-per-click advertising (PPC) involves online ads for which advertisers pay each time a user clicks upon them.
– Meta tags
– Social media
– Product images
Social media marketing is the practice of promoting a product/service on social media platforms, and sharing content that builds brand awareness and trust. Key social media platforms include:
Email marketing is an approach that utilizes email as a way of marketing to and nurturing potential/existing clients. It allows your company to use a soft approach to keeping customers/prospects abreast of new product offerings, discounts, campaigns and other services.
Creating a clear digital marketing strategy boosts your brand image, keeps your marketing efforts on track, determines actual growth, increases customer interactions and helps you understand your competitors. The process of creating and implementing an effective, efficient plan takes time and effort. Consider employing a digital marketing agency. They have the knowledge, experience and skill to grow your business, free your time and use data to prove that you've been successful.
Want to grow your business? Need help with your digital marketing strategy? Call CAYK for a Digital Marketing Strategy at (403) 456-0072 or email [email protected]. Allow us to be your very own marketing department! Connect with our tightly-knit team of knowledgeable digital-first consultants, each eager to help your business grow. If you want the best digital marketing team in your corner, Contact us today. We'll help you take your business to the next level.