To grow and develop a digital business, one of the main things that you might need is a well written marketing strategy. As you might already know, to write and develop a good marketing strategy you will need constant and precise analysis to find out what your business need to continue or stop to achieve positive results. Without having such analysis, your marketing strategy won’t work correctly or even there won’t be one at all.
We’ll save you lost time in this blog post by advising you regarding key marketing strategies digital businesses will need know to improve their business. We’ll give you the key metrics to evaluate the outcomes of these strategies.
First things first, get your plan ready!
In order to decide what is actually going to make sense for your company, you have to identify a few items before you can start putting your plans and research into action.
Follow these 3 steps in your planning:
DETERMINE YOUR GOALS
Setting deadlines makes you recognize what your digital marketing campaign needs to achieve. For instance it could be:
- Build brand awareness
- Bring traffic
- Create engagement
- Generate sales
- Create customer loyalty
It should not always to be one of them. You might like to pull together multiple objectives.
The key thing is that everyone participating in the campaign process knows the real intent of their activities by having identified the priorities. This makes it easy to determine what to do, and how to execute those priorities.
EVALUATE YOUR BUYER’S PERSONA
Buyer persona is a fictional character, reflecting the perfect client’s profile and attitudes.
The buyer persona of your company will direct your strategies and make it much easier to assume the real person you’re trying to reach.
Once you have their profile in mind, it’s fairly simple to develop solutions for your potential clients.
You would have to do a lot of work to build your buyer persona and interview your clients or prospective customers.
The answers to these questions are needed:
- Where do they live?
- Where do they work?
- Level of education, and area?
- Their personality and characteristics?
- What are their values?
- What is the person doing on a regular basis?
- What is this person consuming?
- What is the vision of this person?
- What are the priorities for that person?
- Which are the pain-points of this person?
- How can my company have a positive impact on the living of this customer?
Build an avatar with the answers in hand to explain your buyer persona and define their profile in a brief text, as in the example below:
BUILD YOUR MARKETING PLAN
Defining the goals and the buyer persona is now a big part of a marketing campaign. This strategy includes all the marketing activities underpinnings for the company.
Your marketing plan must include the following:
- Business goals and objectives
- SWOT Analysis (Strengths, Weakness, opportunities, Threats)
- Analysis of the market
- Buyer Persona
- KPIs (Key Performance Indicators)
- Deadlines and budgets
You’ll have a better view of your own industry and the competition after all these have been identified and reported. Now you’ll have what you need to select your channels of communication and the most effective methods for your digital business.
Now, are we going to look at the techniques which you can use?
Main marketing techniques for digital companies
On the other hand, in a non-linear procedure, certain customers require several steps in the buyer’s journey. You miss them entirely if you try to push them along or skip one step.
Content marketing is among the most commonly used techniques in digital marketing, it consists of generating trust and gaining premium brand buyers through different forms of communication.
Besides being very effective, this strategy enables you to:
- Be a market reference once you’ve generated valuable content regarding your niche.
- Educate your customers, which actually generates more competent leads to purchase your product.
- Manage sales objections, since, except for traditional marketing, you do not follow the client with deals and offers, but indirectly bring them to purchase by providing the interesting content.
- Reduce the costs of the purchase, because there is no need to spend money in order to acquire the client, this method is organic.
So we can all agree that content marketing is pretty much a requirement, right?
But where and how should we do content marketing?
Here are some of the channels which you can use:
Blogs are among the most-used web marketing channels. Via a blog, you can frequently post content that relates to your business.
This is important that it is professional material and it has to be applicable to your identity and only then you can turn it into a market opportunity.
Whenever you want a visitor in your blog to become a client, you do need to worry about how to keep the user in contact with your company and encourage them to buy your product when they’re prepared.
For this purpose, providing free content in return for their email is also essential, so you can cultivate them with more stuff of their interest, as we can see later on in email marketing.
Even when people are actively looking for information on Facebook, they are still using YouTube as a learning tool.
In reality, YouTube is actually the second biggest search engine in the world, next only to Google itself.
Publishing videos with one of the most sought-after content by your viewers is also a perfect bet to build awareness, reputation and traffic.
SEARCH ENGINE OPTIMIZATION
There is no sense in posting reliable and appropriate content if you cannot reach your target market.
Better SEO (Search Engine Optimization) techniques are therefore important. Optimizing the content can allow search engines to show the content while looking for words similar to the topic that the content covers.
While it is not easy to determine precisely how the formula that positions websites in the first results is efficient, some methods succeed when it comes to maximizing the content to the top ranking. Those are:
- Select the keyword carefully. When you want to produce content that addresses the question: “How to create a blog,” for instance, you need to use this main word and similar phrases in the post, in the title and summary that appears in the search engine results.
- Produce good quality content. The search engines are clever. They know how the content makes sense and can determine how long a person has been on the website or seen a video.
- Have a lot of good backlinks. The approach used by algorithms to determine the legitimacy and credibility of a page is to evaluate the quantity and consistency of pages and sites that refer to or link to a page.
These are a few of the most common methods to rank well in search results. But remember that the set points and what the ranking impacts may vary depending on the channel you utilize.
Feeding at least one social media site is well worthy of your time. This would pay off in terms of brand awareness, better client relations and drawing new clients. And that’s not only about the internet industry, but pretty much for all companies today, because social media platforms can be called business cards.
Handling content marketing on social media platforms has the same assumptions as prior channels: the need to post quality material on an ongoing basis.
For this cause, the social network account of your company needs to be carefully considered and organized. It is crucial to have a specific planning and an analytical eye for each post and engagement made, whether on Instagram, Facebook, LinkedIn, Tik Tok or others.
Bear in mind that almost all social media sites offer the possibility of building professional profiles that allow you to evaluate various indicators, such as interaction, and it can be helpful when preparing your campaign.
As you’ve seen, email marketing is regarded to be a more sophisticated marketing strategy for content.
In order to apply, your customer should have gone through one of channels described above and decided to opt to provide their email in return for useful information or content. You can’t get a person’s email for free, after all. As a matter of fact, in accordance with the GDPR, the General Data Protection Law, you are not allowed to obtain and retain information about visitors without their permission. Having this permission typically means that you ought to give them something in exchange.
Having received a visitor ‘s email, either by asking them to sign up for newsletter or in return for valuable content, you will deliver material by email to draw your prospective purchaser.
You may rely on the email marketing automation tools to create automated email flows that take a lead across the sales funnel.
Buying traffic can assist you not only promote your business, but also get extra relevant traffic fast.
It’s possible to pay to appear in Google’s first search results or to put ads on partner sites as well as on YouTube.
Pay can also be made to improve publications on various social networks.
Take a look at the two choices for paid traffic:
Google Ads lets you promote your brand or product on Search Network, Display Network and YouTube.
You just need to have a Google account and build your tailored ads to advertise on these platforms.
You have to do keyword research to create good ads. Google Ads on its own provides a complete search tool: the Google Keyword Planner.
So, depending on your preparation, you would need to schedule the campaign to be correctly targeted and optimized as necessary.
Like Google, social media platforms also has their own ad channels, including Facebook Advertising, Instagram Ads, LinkedIn Ads and Twitter Ads.
Each has its own peculiarity, but your marketing plan can completely guide the strategy to make the right segmentation.
Besides being a marketing tactic for content, video marketing has gained immense popularity for digital marketing that businesses all over the world have given special focus to this strategy.
So when we’re talking about video marketing to attract and convert clients, we’re not just talking about YouTube ad videos, but instead:
- Institutional videos
- Educational videos
- Video Ads
- Live Streams
Simply put, videos offer a variety of ways to use them in your company. They are easy to access, can be tailored to different platforms and are more entertaining than text content.
Before you place your efforts to creating videos, it is crucial to understand that you also need to concentrate on your marketing plan and the sales funnel stages to share relevant content to your followers and at the right time.
The great thing about this technique is that you can use it on several platforms. Video marketing is also a viable choice, be it on a blog, on social networks or on a website.
The Partnership Strategy, last but not least, is an effective way to expand your global presence and grow your company faster.
Don’t be afraid to approach industry related firms who can supplement and improve your marketing campaigns.
Some collaborations which can be formed in digital marketing are:
- Guest Blogging
- Video or podcast collaboration
- Content co-production
Please note that the advantages should go both ways, so just be sure to inform your prospective partner how their company can benefit from this relationship.
Key marketing metrics for digital enterprises
Assessing metrics in digital marketing is key to the effectiveness of the strategies, and if you believe this is yet another step in the process, you’re in for a shock. Metrics research has to be carried out during the whole process. That is to say, the tracking is crucial from the minute a strategy comes into action.
If you own a digital business, Hotmart provides a free download of a fully automated spreadsheet to measure the main metrics of a digital product or service.
It is also necessary to produce a comprehensive report from time to time (e.g. every quarter) to record the context of the results and develop activities for the next process.
Now let’s look at some of the primary metrics of digital marketing which need to be analyzed. Don’t neglect that those you will pay the most priority are closely tied to your objectives and goals.
Reach is about, for instance, how far the tactics have gone: post views, ad impressions and views of website.
If that number is high, it means you are very well advertising your content, because it reaches many people.
It’s not enough just to realize if a lot of people look at your articles, a much bigger measurement is engagement. That is, are the people who read your articles loving it? Are they clicking on your ads?
As a result, commitment can be calculated by:
- Channel Subscriptions
- New Followers
- Among other ways of people engaging with your content.
Traffic is a very critical target to assess whether your content marketing, SEO or paid campaigns are working as they should or not, as it indicates the number of people who have accessed your blog or website.
Knowing the origins of the traffic is essential for knowing which technique works better for your market.
You will have to create parameterized links (UTMs) to access such information, capturing important data regarding users who access your pages, like: source, medium and campaign.
The conversion rate is how you can monitor your progress in achieving your goal. It is also really important to decide, in advance, what the intention of the marketing strategy is.
For instance, whether they are applications on a landing page, the success rate will be the number of installs divided by traffic volume and multiplied by 100.
Traffic = 1000 people
Conversion = 300 installations
(300/1000) x 100 = 30%
This example demonstrates a strong landing-page conversion rate. If this conversion rate is very small, it may imply, among several other factors, that the page does not persuade the user, or that the registration form causes dropouts.
Converting is the Marketing strategy’s main target. If you don’t convert, then your energy and money is wasted.
This statistic is the amount of how much effort a person has made to convert.
Again, to understand what acquisition is considered, you should look to your goal.
Now, let’s assume that the purchase for your company is a client who purchases a product.
If you’ve invested $100 in paid media on Google and $50 in sponsored posts on Facebook, resulting in 50 different user purchases, go forward with the following calculation:
Divide the gross amount spent according to the number of sales.
$150/50 = $3
It means that any customer costs you $3.
RETURN ON INVESTMENT (ROI)
ROI is really nothing short of the most important business metric.
It shows what the return on investment is. That is, whether the company is profitable or not.
To measure it, simply deduct the amount spent from the income earned and then divide it by the amount spent multiplied by 100.
Example: if the investment total is $1500 and the profit is $10,000, then:
(10000-1500)/1500 x 100
ROI = 567 per cent;
A return of about $5.70 was received for each $1 invested. So, it can be inferred in this case that the company is making a profit.
Make a habit of this practice
As you will see, metrics will help you sharpen your strategies, consider what needs to be preserved or modified to meet your desired goals.
Developing the habit of analyzing them will make your work simpler and more efficient. Ok, don’t wait awhile, just start applying what you’ve read in this article!