Importance of Digital Marketing Strategy
Without a proper plan, you will just be wasting your money and efforts on online channels. For example, if your aim is to increase sales, you need to target the right audience through the right channels. Without a plan, you will be targeting just anyone (even those who aren’t interested in your products). A complete waste of money.
Having an effective digital strategy will help you increase your revenue and enhance your brand reputation at the same time without much investment. Even if you’re a small business, just starting out, or an established company, you will need a digital strategy. If you’re not sure how to build an effective strategy, you can contact Montreal Digital Agency who can help you achieve your business goals.
Let’s have a look at how you can develop a digital strategy that helps you boost your revenue.
- Define Your Goals
Before creating a digital strategy, you need to define your goals. What is that you want to achieve in the digital world. You need to decide on both short-term and long-term goals. Also, you must decide on the priority of your goals. In order to make sure that the goals you set are defined properly. For example,
- Specific goals: what you want to achieve and why?
- Measurable: how will you decide if you achieved your goal or not?
- Attainable: goals based on the resources you have
- Relevant: Relevancy of your goals according to your business
- Time-Bound: On how much time you want to achieve goals
- Define Your KPIs (Key Performance Indicators)
Once you have decided what you want to achieve, it’s time to define key performance indicators. KPIs are a way to measure the success of the campaign. Their primary purpose is to provide guidance. You can enhance your digital strategy only when you know what’s wrong in it. Also, it helps in understanding what things you need to work and when.
For example, if your KPI is to increase sales by 30% in Q1, you can stop working on increasing sales as soon as you achieve the desired results.
If your KPI is to reduce bounce rate by 10% in Q1 and if you don’t reach anywhere near the goal, you can put more effort into this goal.
- Define Your Target Audience
You need to know who you should reach out to if you want to increase the ROI. Also, you must know who your audience is, in order to understand what they want, how you can retain them? When you target the right audience, the chances of conversions increase by more than 50%. Use special analytical tools such as Google Analytics to know where most of your audience belongs. Also, have a look at their online behavior to know what they’re browsing.
- Define Your Channels
Now that you have defined your goals, set KPIs, and found your target audience, its time to reach out to them where they spend most of their time. Do most of your audiences spend time on Facebook or Twitter or Instagram? This is very important as it will help you reach the right type of audience. An audience who is more likely to convert. This will also help you remove channels that are not bringing any conversions, saving a lot of money. For example, if your business serves adults who belong to age category of 40-50, you won’t find your target audience in Snapchat, which means you should eliminate Snapchat from your digital plans.
Creating an effective digital strategy will not only help you increase conversions but it will also help you enhance your brand reputation. Therefore, ensure that you set measurable goals and use KPIs to measure its success. Also, define your audience and find the right channels to reach out to them. If you are not sure how to build an effective digital strategy you can outsource the work to Montreal digital agency and get the best results.