If Covid-19 taught us all anything, it would be that we can all plan as much as we want, but still the most unexpected thing can happen and you can lose control. One thing is for sure, since covid-19 has happened, we will not be going back to the way things were. And one thing we can do with that is to evaluate how everything is working right now so that we can make better decisions about the newly created business environment and how to deal with the problems that most areas encountered when Covid-19 hit.
So how can we do a good environmental assessment before planning our digital marketing strategies?
Digital marketing is becoming more and more important. People are spending more time online and marketing dollars are moving in that direction. On the other hand, investing in your strategy is one of the most effective strategies to increase digital ROI. A well thought out plan will reduce waste, focus your efforts and build on what is currently working.
Let’s go over the five most important things you’ll want to know before creating a digital marketing strategy for your business.
- Analysis and research are the basis of a solid approach. This gives you a good idea of where you’re starting from and how you stack up against the competition, and a better understanding of your target market. Knowing what your competition is doing is essential because it will help you understand what is missing and what you can provide your audience with better. You need to know what others are offering to the current audience and how consumers are responding to it.
2. See how you did. Start by looking back at the previous year’s performance. Examine the data to see what worked and what didn’t. It’s general to know where you stand right now. What are your strengths and weaknesses, what can you do better and what can be done better.
3. Do a competitive analysis of your rivals in terms of digital marketing. Research your competition’s digital presence. Since it’s all public, it’s easy to see what your digital marketing competitors are doing. Get a free study of their approach using competitive research tools. Read blogs and articles on current trends and analysis of how competitors are approaching social media and the digital world.
4. Learn as much as you can about your consumers. Facebook Audience Insights is a free service that lets you learn more about your audience size, demographics, activities, and interests. Google Trends is another free tool that lets you see what people are searching for and how their searches have changed. Taking advantage of all the useful tools these organizations provide is one of the most important things these days. Making decisions based on facts, statistics, data and numbers is the epitome of making the right decision. Nothing should be taken into account if it is based on instincts or personal opinions. Data is the new black!
5. Last but not least, make a strategic plan. Create a clear strategy based on your goals and how you want to achieve them. A strategic framework helps you align your project by defining goals, strategies, objectives, and tactics. Goals should be defined as high-level goals that you want to achieve. For example, it might increase revenue by 10%, increase app downloads by 20%, or get 700 people to register for an event.
The flexibility to pivot and adjust is one of the things that makes digital marketing so effective. Especially after Covid-19 and all the problems it has caused, brands need to find ways to be agile in building their digital strategies. You don’t have to make a fixed schedule and stick to it. For example, if an ad isn’t working, stop it and try something new. For example, running A/B benchmark tests with alternative calls to action if your site isn’t converting visitors will help you change your strategy instead of spending money on something that doesn’t work.
With digital marketing, it’s easy to get stuck in a rut because they sell you new ideas or tools every week. Making a clear plan and staying focused are key to improving your performance. A laser-focused strategy means you understand exactly how each component of the strategy contributes to your goals and moves your company forward.