Everyone is using digital marketing to grow their business and increase brand awareness. More and more companies are transitioning their marketing budget from traditional media (TV, Radio, Print, etc.) to digital media (Search Engine Marketing, Search Engine Optimization, Mobile, Social, Blogs, Websites, Videos, etc.). In fact, a study came out from McKinsey in 2010 stating that from 2009 to 2012 Digital Marketing will grow from a US$30 Billion to an US$80 Billion Market and over 50% of that increase will come as substitution for traditional Media. That is a lot of dough. This true for all businesses; big or small. The most concerning question is, “How do I get better results?” The simple answer is a strategy. It all starts with a plan. Who is my audience, what channels do I use, what do I do with the channels and when, and who is responsible for doing the specific duties? These all are questions that needs to be answer specifically to establish an effective digital marketing strategy.
In this post you will get a 7 step process of developing a digital marketing strategy that we all need to have to accomplish our business goals. Last week on the American Businessperson Internet radio show hosted by Rich Killian, I discussed the process in great detail. See below for the link to the show and listen. Beneath the link you will see the 7 steps in an outline. These steps are created by Digital Marketing Institute.Without further ado, let’s begin.
Steps to creating a digital marketing strategy:
1. Situation Analysis: Current State of play; we launched the website and it has not been updated since. What is your current situation? Where are you now?
2. Audience(s): *Most important part of the plan. This area dictates the rest of the plan. Put your customers first. Who are you trying to reach? Who is it you are targeting? Is it 1, 2, or 3 groups of people? Rank them by importance to allocate resources accordingly.
3. Objectives: Set objectives for those audiences. We have 50 new visitors a day to our site; we want 250 visitors by the end of the campaign for this particular audience group. We have 15 Likes on our Facebook Page; we want 100 new likes by the end of 2 months. No fluff. Vague objectives; raise awareness of this product. Attach numbers to the objectives. You can track your objectives.
SMART: Specific – usually a number Measurable – you have the systems in place to accurately track this metric Actionable – actions to influence this outcome are under your control Realistic – it’s reasonable for you to expect to achieve this objective Timed – you have a deadline for delivering on the objective.
Our Objectives: 12,500 searches per month for my search phrases
Estimated at 25,000 unique searches
Aiming to attract 10% of these to our website = 2,500 visitors
Aiming for a visitor to conversion rate of 2% = 50 enquiries
Based on current enquiry rates, we estimate that 50 of these will be quality leads = 25 leads And our conversion rates usually 1 in 4 4 new customers = $25,000
4. Channels: Identify SEO, PPC, Social Media, Affiliate, Email Cannot not be 10. It is impossible for you to run a 10 channel campaign. Most relevant to the audience. Audience at the heart of the campaign.
5. Action Plan: What are you going o do? We are going to update our Facebook page twice a day for Mom’s 35-45 years old. I am going to spend an hour a day. Mary is going to monitor the activity twice a day, only spending 30 minutes max.
6. Budget: Assumptions. People cost is the biggest expense. Social media is free. Your time is not free. Your time is the biggest part of the budget. Am I going to do it or is someone else going to? Companies with $250 a month budgets tend to have the better digital campaigns compared to large corporations with $100k a month budgets. The small companies need to be creative with their time and money.
7. Measurement & Interaction: Crucial. Measuring the objectives. Can be simple as counting emails, enquiries, phone calls and asking where they found you. To as complex as analyzing the Google analytics. You decide whether you want to keep it simple or want to be more complex.
Please post your questions below.