What is a digital marketing strategy? And why your business NEEDS one
We often talk about a digital marketing strategy, otherwise known as a success strategy, and why having one is absolutely vital to not only your business, but any business.
So, what is a digital marketing strategy? Why do you really need one? Where’s the best place to start?
What is a digital marketing strategy?
They say if you fail to prepare, prepare to fail…that’s very true in marketing!
A marketing strategy is a plan. It might be born through a desire to achieve a specific goal, to manage budgets more effectively, or to keep content more consistent and relevant.
First, you look at what your business is currently doing…whether that’s well or not, and then bear in mind where you want to be or what you want to achieve, you take a look at what is potentially missing. From there, you’re able to take a step back, reflect, and create an intentional plan to move forward successfully.
These are the very basic principles of a marketing strategy, however, it’s easy to see straight away why having or creating one needs to be one of the first things you do before jumping into various digital activities.
Why do you need a digital marketing strategy?
At HV Media Group, we believe that there’s many reasons why you need to have a solid digital marketing strategy in place. For one, we strongly feel that having one builds a strong foundation for future success – that’s why we refer to it as a success strategy instead.
Here are 5 other reasons why getting one in place should be a priority:
- 1. Understand your target audience
If your business isn’t based solely online, it might come as a surprise that your online market can be completely different to your audience when it comes to more traditional forms of marketing.
We take a deep dive into your customer profiles and their behaviour and reasons why they would look to your business. Unless you know this information, how can you know that you’re giving your customers what they want?
- 2. Step back and imagine where your business will be long-term
What direction are you wanting to take with your business? Where do you see yourselves in 3, 5 or 10 years?
When creating a strategy, it’s best to have a key goal at the forefront of your mind – is there a certain amount of online followers you want on Facebook? Or how about a certain number of sales you want to reach by the end of the year?
Start there – have a goal, something to aspire to. If you know what you want to achieve, you can base every business decision on it.
Will doing X help you to achieve Y? If the answer is ‘yes’, then do it. No? Think again.
- 3. Stay ahead of your competitors
During this process, we don’t look to ‘copy’ anything your competitors are doing. Instead, we identify who your true competitors are and evaluate what they’re doing that we believe you could do better!
Chances are, you and your close competitors have a similar audience base, so what could you be doing to entice those potential customers to become your loyal customers instead?
- 4. Plan for the unexpected
By looking at the bigger picture and looking at the plan for the next year or so, you’re able to quickly put plans into action if the unexpected should happen.
For example, if a particular product launch is running late, you can easily move a month’s activities to later in the year without any issues.
Also, by having the plan together in the first place, you’re more aware of any planned activities taking place, and therefore more capable to switch things up without much notice.
- 5. Ensure you’re not wasting time…and money
What works for your competitors, might not necessarily work for you. When it comes to crafting your personalised marketing strategy, we take a deep dive into what works for you.
That might involve marketing online on only a few selected channels, instead of utilising them all. It could mean opting out of advertising across certain networks, saving the budget and instead investing that money into other activities.
By briefly pausing, reflecting and evaluating, you get a chance to see what’s working and ensure that you’re not spreading yourself too thin and wasting key time (and money) where it’s not benefiting your business, or your profits.
Digital Marketing Strategy Creators in New York
It’s very true what they say – success doesn’t come to those who wait. So, why should you? Let’s get started!
At HV Media Group, we prefer to get right back to basics. We’ll start with two key questions – why are you in business to begin with? Where do you want to be? From there, we’ll build the perfect plan for you.
Why not get in touch today about a FREE 30-minute strategy session? No obligations, just a valuable opportunity to begin your business growth journey.