Why does digital marketing strategy matter?
A strong digital marketing strategy is the foundation of any effective marketing plan. Your digital marketing strategy should filter through each and every marketing campaign, event and platform. Why? Because it defines the key strategic elements every organization needs to understand to make meaningful connections in today’s online world.
For example, imagine building a website without understanding your company’s strengths or the key messages you want to convey. Or what about executing a viral marketing campaign without a clear understanding of who your target customer is. You wouldn’t dare. Good digital marketing strategy is the compass for your marketing campaigns and efforts.
Creating a great digital marketing strategy requires an understanding of your organization’s 3 c’s. Customers, Company and Competition. If you do not consider your strengths and weaknesses, your competition, and your customers, you will not generate the business results you want.
Avoid these 3 digital marketing strategy pitfalls
Developing a marketing strategy that:
- meets your financial goals,
- has campaigns built on fact based inputs, and
- is customer centric,
is not impossible! Just avoid the following 3 common pitfalls:
The essence of strategy is choosing what not to do.
Pitfall #1: Trying to be Everything to Everyone
The Porter quote reminds us that although it is tempting to try and ‘do it all’ (e.g. target all 4 markets or create 10 customer personas), just say no! The ability to say no is one of the best things a company can do to achieve focus. For example, targeting a maximum of 3 markets provides your team with focus. It also enables you to direct digital resources intelligently. Remember, it doesn’t mean leads won’t come from other areas. Rather, it means you’re focusing digital marketing spend on the areas where you believe you can achieve the best results based on your business goals. In other words, the areas with the greatest potential.
Pitfall #2: Building Your Digital Marketing Strategy in an Echo Chamber
Effective marketing in today’s digital landscape must link the marketing, sales and technology departments. Without buy-in from all groups and common metrics for success, your digital marketing strategy will fall on its face. For example, regular communication on the quantity and quality of marketing qualified leads by the sales team to the marketing team provides instant feedback for course correction. In addition, ongoing feedback loops between marketing and IT helps to ensure technology stacks are driving the right metrics.
Pitfall #3: Treating your digital marketing strategy as static
Like your business strategy, your marketing strategy should be revisited frequently to ensure it remains relevant to our ever changing times. Strategy that sits on a shelf serves no one. Instead, regularly check in to understand market changes (contactless society anyone?) and new competitor entrants. Talk to your customers so you can make adjustments or additions to your customer personas. Finally, review your company SWOT with an eye for how to build in resilience given the unexpected challenges we’ve all experienced marketing in a pandemic this past year.
Remember, your digital marketing strategy is just one element of a well oiled marketing machine. Once your marketing strategy is complete, map out your customer journey and create a content strategy that outlines the activities you need to meet your goals. Then work across departments to put that strategy into action!
What other common marketing pitfalls are there? Let me know @andrewperrymktg!
