How to Build a Winning Digital Marketing Strategy Framework
If you think Digital Marketing means posting images and content everywhere, every time, think again. More often than not, the benefits of digital marketing prompt businesses to jump the gun and start doing it instead of taking some time to think about it.
The fact is, without a proper strategy to back the digital marketing efforts, a business will not be able to maximize the return on investment. With a well-defined digital marketing strategy framework, a business will be able to reduce waste, add focus to its efforts and build on what is already functional.
Understanding Digital Marketing Strategy Framework
A digital marketing strategy framework is a business’s action plan on how to use digital marketing channels to reach the target audience. It has multiple steps and each step is tied to a measurable and realistic marketing goal.
A well-defined digital strategy is important because:
- it helps orchestrate different online marketing strategies;
- it helps with proper planning to ensure that resources are spent wisely;
- it helps to test and confirm specific marketing data points;
- it helps decide whether or not a particular marketing strategy is working;
- it helps to stress-test the marketing assumptions.
Key Steps to develop your Digital Marketing Strategy Framework
- Analyze and Evaluate – Analyze the current status of your marketing efforts and mark what is working and what is not. See and analyze what the competitors are doing. Evaluate your efforts to understand what needs improvement, what needs to be redone, and what needs to be left as it is.
- Define Business Goals – Clearly define your objective and expected outcome of your digital marketing efforts. Are you looking forward to a product launch? Do you want to increase your social page following? List all such realistic goals that you want to achieve.
- Research and Define Target Audience – Define your market and the customer base you want to reach. Analyze the way your target audience interacts with the internet and your competitors. What or how do they utilize the internet to look for what they want? How can you cater to their requirement?
- Build Content Strategy and Library – Prepare your content strategy, calendar and assets to be used when you launch the marketing strategy. Consider all types of content from plain text to video to white paper as per your requirement.
- Choose your Digital Channels – What digital channels would be better options for your business? One need not be aggressively active on all platforms at once. Instead, prioritize and diversify your content and marketing efforts to reap the maximum of platforms.
- Set KPIs – Define the Key Performance Indicator (KPI) for each activity you undertake. Setting KPIs and benchmarking helps you quantify and measure your marketing efforts and their results.
- Execute – Now is the time to put your strategy to work. Put your digital marketing efforts into practice as per the strategy.
- Analyze and Amend – Scrutinize your strategy and efforts against the goals and benchmarks. Were you able to achieve the benchmark with the strategy? A good analytics system will help you track and evaluate your marketing campaign, and its results and then make informed decisions on what parts of the strategy need to be tweaked for better performance.
Successful implementation of above-mentioned steps can help you create an amazing digital marketing strategy framework that will help you outshine and outperform your competitors and reinforce your digital presence.