Nowadays the business model has drastically changed. Every business is striving to incorporate digital approaches to its traditional style. Especially, in times of COVID-19, where every business was digitalized to maximize profit.
Would you believe if I say even the small grocery shop down the lane went digital! Who would have thought that? A lot of unpredictable happens, that is how digital is. One can plan and strategize based on an estimate, but always be open to unpredictable circumstances, such as- the server of a social app going down.
Said that understanding digital marketing and having a strategic approach is very vital. The plan is what is going to take you far. So, how to build a digital strategy? Let's begin by understanding the basics first.
What is digital marketing?
In a simpler definition, it is to achieve marketing goals, but with the integration of digital technologies and platforms.
What are digital platforms?
- Mobile applications
- Social Media Handles
- Search Engine Optimizations
- Display Advertisements
- Digital partnerships with other business
How to build a digital strategy?
One must understand, the digital strategy is the plan of how a firm will achieve its SMART objectives using digital. For instance, the digital strategy will include; the content plan for the year, a lead generation plan, or a social media marketing plan. Basically, it is an outline of how tactics and ways to improvise the business.
However, one must understand digital approaches may not be the same for all. Something that works for firm A may not be sufficient enough for firm B. For example, a digital strategy Geelong company may not produce adequate results and return on investment in the UK.
It could be for various reasons, for instance, a country's regulation doesn't permit the use of that app, or user behaviour differs as lifestyle changes. Likewise, the strategy- for the firm could be active for the first quarter and not provide desired results in the next. Digital is always changing, and so do you have to adjust your strategy accordingly.
Initially, build a plan based on the RACE structure, that is:
R - Reach
After having it ready, integrate smart objectives in it. The smart objectives are realistic goals in a timely frame.
What do I want to accomplish?
How will I know when it is accomplished?
How can I achieve the goal?
Is this appropriate and worthwhile?
T- Timely bound
What milestone can I achieve in six months?
Thus, the above mentioned defines a realistic goal, that can lead you towards success.
Here are the reasons why you may need a digital strategy:
- You are heading in no direction
- You will find difficulties in understanding your target market
- Competitors can make the best out of the situation, and take over your audience
- There is no online value proposition determined
And much more! There are businesses, which kick start the digital approach without a plan. Thus, either they come to a mid-point and no longer understand what to do; or, they just get nowhere with it.