Digital strategy—how you need to develop one?
The first and foremost requirement for mapping your digital strategy is to work against a pre-defined benchmark. You know where you are now, but need to have a crystal clear idea of where you need to be in future. A digital media marketing without a clear strategy is still commonplace. You are likely to come across many different organisations that are using digital media to advance their cause despite the lack of a crystal-clear strategy. Many of them are successful without a strategy does not mean that a well-defined strategy is not a necessity. On the contrary, an organisation not making practical use of it may be missing out on other profitable opportunities which could further add to their competitiveness and profit.
Few important reasons for you to have a digital channel strategy
You are without a purpose
Many organisations with a clear-cut digital marketing strategy also do not have clear strategic goals. Lack of preset goals and objectives often leaves them directionless when it comes to achieving more online whether regarding gaining new customers or building better relationships with the older ones. The absence of goals means you are unlikely to make a conscious effort to reach these aims or employ analytics to measure how successful you have been in achieving your goals.
Others will gain at your expense
A highly globalised and connected marketplace offers new opportunities and threats. If you are not serious about your digital marketing strategy, the chances are that your laidback attitude will cost you dearly as you will most likely lose your market share to your competitors and new start-ups. So, Analysis of business to your website play’s a great role in changing the business. It improves the ROI and makes you more competitive and focused in achieving the target.
Knowing the customers
It is important to connect with your present and potential customers at the emotional level. It will generate consumer loyalty, and your clients will stay with you for a long time. Some tools like Google Analytics can help you measure the volume of its customers. You need other tools and feedback forums to comprehend the needs and requirements of your customers better so that you can efficiently fulfil them. With that content that solves their query and bring solution in every day life.
online value proposition
A structured, streamlined and well-defined online customer value proposition can act as a powerful differentiator helping your online service stand out from your peers. Better service eventually translates into more consumer loyalty and more profit.
It is often seen, especially in the larger companies where there are many organisations and branches. It leads to wastage of precious resources as different parts of the marketing team utilise different tools and strategies to achieve the same marketing objective.
Importance of digital marketing
The world is in a constant stage of technological flux. It is the era of smartphones, super fast internet, 3D gaming and Facebook. Digital marketing and social media platforms have completely changed the way we do business. Any business which lags behind in embracing the digital medium to advance its cause is in a danger of losing out to its competitors. Keeping this important point, we present below few of the first benefits and advantages of digital marketing.
Level playing field
The digital revolution has more or less levelled the playing field for organisations where small firms can compete with equal vigour with their larger counterparts. The starting cost of online marketing is only a fraction of the thousands of dollars you had to spend on traditional advertising channels such as Yellow Pages, radio, television, newspapers, etc. A small firm with limited resources can easily challenge the might of big corporations through an appropriate and well-structured online marketing strategy. In the traditional way of commercialization, a smaller company can struggle to match the finesse of the fixtures and fittings of its larger competitors. It is not the case online as a well-designed and structured site which offers pleasant customer experience, and fantastic service is the real king.
What happens when you place your ad in TV or newspapers? First and foremost you are required to pay this traditional medium of advertisements a large sum of money without having anything to know what impact your ads are creating on your target audience. With online marketing, you can clearly see in real time what strategies are working and what are failing to leave an impact. Armed with a detailed report, you can quickly change your strategies to improve your ROI. These measures help in regulating the business and different aspects of it. We know detail analysis is very helpful for every business to know and understand the risk, growth and other areas of it, here, digital marketing analysis also plays an important role to improve the functions of the organisation. It enhances the scope while achieving the success.
Online marketing needs less expenditure than traditional mediums of advertising like televisions and newspapers. You can get a much better result at a fraction of the cost of what you have to bear in traditional forms of advertising. Reducing expenses and increasing profit benefited most of the business houses in bringing optimum result and output from the company. The same has to be built through years and rather than general cost cutting which deprives the business of many vital functions digital marketing processes has the power to bring that without any effect. It were certainly cost friendly but applied without proper digital skills can be fatal and bring huge loss as well. So, hiring the right professional is imperative. He no only reduces cost, keeps things tidy but also coordinates among staffs.
In the crowded world of WWW, you need something extra to draw and hold the attention of your target audience. Apart from the word-of-mouth publicity and maybe your personal relationship, nothing builds your brand better than a high-quality website. A well-structured and easy to navigate website with regularly updated content shows how fast your business is growing, and how you are fully capable of delivering full value to your client. After years of work to develop the brands to a level it is seen that brands are very sensitive to many changes and people who use it are very sensitive to all those changes happening in the brand they use. So, social media to search engine if we can build a steady and reliable brand presence the growth and ROI can be maintained with growing use of digital marketing.
Challenges of Digital Marketing
Traffics and Leads
First and foremost marketers are at a loss as to from where they are going to generate enough demand for their product. Digital channels are relatively cheaper than traditional medium, making them within reach of even small businesses. It intensifies competition as the barrier to entry is very less.
The digital world is growing precipitously, and so are online threats. Any breach of security can severely damage an organisation’s credibility and its brand value. Also, with the plethora of social platforms available, digital marketers often fail to comprehend where they need the security and improving them is needed.
Huge quantity of data
There is a humongous volume of data related to a customer’s behaviour, likes and dislikes, spending propensity, purchasing pattern, etc. It’s tough to access all data, as well rummage through the humongous amount to find what will serve your organisation’s cause well.
Hiring the right talent
It may not be a new challenge, but is certainly the one that keeps plaguing digital marketers. Human resource is one of the biggest sources of a company’s competitive advantage and organisations the world over continue to grapple with the challenges of hiring, training and retaining the right people.
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