Any Irish company with growth ambitions needs to have a digital marketing strategy in order to take advantage of the growing opportunities for sales, inbound lead generation, traffic and customers that digital marketing can generate.
The internet is changing the buyer –supplier relationship, today businesses have to know that attention is a currency and social media generates lots of noise so it is becoming increasingly difficult to attract the eyes and ears of the companies target market. Small companies can compete with larger companies but larger companies have well-funded marketing departments, a business is also competing with social media itself for information dispersal and a multitude of social networks are trying to get the attention of the same prospects or traffic.
So digital marketing has to have a strategy, a well thought out strategy which must support the overall business strategy; in fact a company’s digital marketing strategy may be the engine that powers the sales strategy. Ask the question, “what is our digital marketing strategy based on?” is it customer growth, new product promotion, market penetration or market development? Digital marketing and social media channels continues to expand and influence the buying choices of consumers and business so it is vital that every business learns how to succeed in the online world. In some recent reports published into digital marketing, a lack of effective strategies remains the most significant obstacle to succeeding in digital marketing. In fact, a survey of digital marketing managers showed that over 51 percent of them believed that a lack of connection to business strategy prevented them from achieving the digital marketing goals set out.
A well thought out digital marketing strategy will help a brand or business reach digitally engaged audiences, build deep customer relationships, and create new markets, products, or even redefine the business model.
Planning and executing a digital marketing strategy is essential to out-thinking the competition. In the online world the ability of a business to thrive could well be directly related to how well the business is able to maximise digital media channels. Social networks such as LinkedIn, Facebook, Tumblr or Twitter or keyword searches on Google means it is possible for consumers or potential customers to interact on a truly global scale. Buying channels and behaviours are changing, the sales process and customer acquisition tactics are being redefined which means regardless of the business size or industry, it is critical that a business learns how to tap into the power interacting and engaging customers online.
The number of digital marketing choices can seem confusing, companies can confuse digital marketing tools with digital marketing channels, what is social posting versus SEO, what has content marketing to do with marketing automation? As a result, it can be difficult to determine where to start. Without a clear digital marketing strategy the temptation by a business, particularly small businesses are to try and do it all. Get a video created and post it on YouTube, plug a few promotions on Twitter and Facebook, join lots of groups on LinkedIn, the list can go on and on. Some businesses even use a specific team to handle a social media channel.
The reality is, without the right digital marketing strategy, a business is simply wasting resources and time, even losing ground to competitors. Much the same as any business planning process, the key is to understand the business mission and vision, then get agreement on the overall business strategy roadmap, next develop an understanding of the customer base, what goals the business wants digital marketing efforts to achieve, then selecting a digital marketing strategy that will help you to reach both your target audience and goals. For instance, if the strategy is market penetration or development then the strategy is to reach new customers or if it’s a product development strategy then the strategy is to focus on launching a new product or service.
The point is, without a solid strategy, it is not possible to determine whether the digital marketing tools a business has invested in will actually help meet the goals that have been set.
There is allot of technology hype around tools, social media monitoring, digital marketing courses, SEO submission etc. so thread carefully as the easy option can be to simply jump in on the latest digital marketing buzz word which may or may not help a business’s digital marketing strategy.
Developing a successful digital marketing strategy is as simple as:
- Understand the business mission
- What is the overall business strategy
- Identifying the target audience.
- Developing SMART business goals.
- Selecting a strategy for meeting those goals.
- Implementing actions and activities for the strategy
- Monitor, review and adjust the chosen strategy.
Start out thinking your competitors, develop a digital marketing strategy that can be resourced and has clear ROI. To bring the point home, MarketingProfs reports that 69 percent of senior marketers in large companies expect an increase in digital spend. The time to get digital marketing right is now as digital marketing will impact on a business’s customer acquisition, sales, product development and maybe ultimately business success.