Digital marketing is an umbrella term for the marketing of products or services using digital technologies, mainly on the Internet, but also including mobile phones, display advertising, and any other digital medium.
Digital Marketing strategy success factors
An effective digital strategy will help you take the right decisions to make a company successful online. A strategy process model provides a framework that gives a logical sequence to follow to ensure inclusion of all key activities of strategy development and implementation. We recommend the SOSTAC planning approach.
A Digital Marketing Strategy should involve a review to check that all of your capabilities are in place to help your organisation manage all of the digital touchpoints. But which capabilities are important, which do you need to review?
In our Managing Digital Transformation Guide for Expert members we show these in our capability visual:
Digital Marketing strategy definition
A digital marketing strategy is a channel strategy which means that it should…
- Be informed by research into customer channel behaviour and marketplace activity = intermediaries, publishers and competitors
- Based on objectives for future online and offline channel contribution %
- Define and communicate the differentials of the channel to encourage customers to use it,
- BUT, need to manage channel integration
So put another way, digital marketing strategy defines how companies should:
- Hit our channel leads & sales targets
- Budgets for Acquisition, Conversion, Retention & Growth, Service
- Communicate benefits of using this channel â€“ enhance brand
- Prioritise audiences targeted through channel
- Prioritise products available through channel
۱۰ reasons why you may need a digital channel strategy?
۱٫ You’re directionless
I find that companies without a digital strategy (and many that do) don’t have clear strategic goals for what they want to achieve online in terms of gaining new customers or building deeper relationships with existing ones. And if you don’t have goals you likely don’t put enough resources to reach the goals and you don’t evaluate through analytics whether you’re achieving those goals.
۲٫ You won’t know your online market share
Customer demand for online services may be underestimated if you haven”t researched this. Perhaps more importantly you won’t understand your online marketplace: the dynamics will be different to traditional channels with different types of customer profile and behaviour, competitors, propositions and options for marketing communications. See online marketplace methodology post.
۳٫ Existing and start-up competitors will gain market share
If you’re not devoting enough resources to digital marketing or you’re using an ad-hoc approach with no clearly defined strategies, then your competitors will eat your digital lunch!
۴٫ You don’t have a powerful online value proposition
A clearly defined online customer value proposition will help you differentiate your online service encouraging existing and new customers to engage initially and stay loyal.
۵٫ You don’t know your online customers well enough
It’s often said that digital is the “most measureable medium ever”. But Google Analytics and similar will only tell you volumes not sentiment. You need to use other forms of website user feedback tools to identify your weakpoints and then address them.
۶٫ You’re not integrated (“disintegrated”)
It’s all too common for digital to be completed in silos whether that’s a specialist digital marketer, sitting in IT or a separate digital agency. It’s easier that way to package digital marketing into a convenient chunk. But of course it’s less effective. Everyone agrees that digital media work best when integrated with traditional media and response channels.
۷٫ Digital doesn’t have enough people/budget given its importance
Insufficient resource will be devoted to both planning and executing e-marketing and there is likely to be a lack of specific specialist e-marketing skills which will make it difficult to respond to competitive threats effectively.
۸٫ You’re wasting money and time through duplication
Even if you do have sufficient resource it may be wasted. This is particularly the case in larger companies where you see different parts of the marketing organization purchasing different tools or using different agencies for performing similar online marketing tasks.
۹٫ You’re not agile enough to catchup or stay ahead
If you look at the top online brands like Amazon, Dell, Google, Tesco, Zappos, they’re all dynamic – trialing new approaches to gain or keep their online audiences.
۱۰ You’re not optimising
Every company with a website will have analytics, but many senior managers don’t ensure that their teams make or have the time to review and act on them. Once a strategy enables you to get the basics right, then you can progress to continuous improvement of the key aspects like search marketing, site user experience, email and social media marketing. So that’s our top 10 problems that can be avoided with a well thought through strategy. What have you found can go right or wrong ?