All you need to know about Smart Digital Marketing Strategy
Ah. It’s a really simple title. Such a difficult problem. There are so many stakes for marketing and the organization as a whole.
Let’s look at how to set a good strategy on the proper track from the start now that we’ve seen what might happen when the strategy is misaligned.
Another acronym framework for analyzing goals and objectives is SMART, which stands for.
A S.M.A.R.T. aim is one that is specific, measurable, attainable, results-oriented, and time-bound.
When it comes to creative brainstorming and creating goals for a digital marketing campaign or a business, this simple acronym will keep you on track. You can’t quantify anything unless you’re particular.
If it’s not achievable and results-focused, it makes it tough to justify the investment and know if you’re getting anywhere. Finally, not putting a time limit on an initiative makes it easy to drag out an initiative.
Let’s say we’re tasked with a vague directive like “marketing needs to increase overall sales for the company”.
We would come back with the following questions for a smart digital strategy:
“Are we talking about growing overall sales or increasing profitability?” Internally, we’d consider how we could accomplish this using our POST framework.
“We’ll improve site traffic to our most profitable product with a blend of social media, content production, and search engine rankings to increase sales and profitability,” for example.
We’d then question, “By how many percentage points?” We need to know what the mark is and whether or not it can be measured. Before you commit, figure out what you’ll be measuring and how you’ll do it.
To generate a 5% increase in sales, you may need to increase website traffic by 300 percent over the course of a year. That is undeniably quantifiable (and tough to do). It’s impossible to quantify something as broad as “increase brand awareness in our market.”
A crucial question is “Is this aim realistic given our brand’s trajectory, finances, and time?” To ensure that the target is achievable, analyze items like sales history, market trends, site traffic, and customer feedback.
If the company has seen year-over-year sales growth of 5% and the objective is suddenly increased to 20% with no additional charges to the product mix or budget, marketing is likely to fail spectacularly.
Building a strong brand takes time, money, and creativity, but it pays off in the end with higher sales and/or margins. Despite its speed, digital marketing cannot do miracles.
How will we know if we’re making progress? “is maybe the most significant question. In relation to the larger aim, this is where you record the tiny victories.
If your aim is to increase sales by 5% over the course of the year, you could break down site traffic by month and increase it by X% using the methods indicated above.
Following conversions and sales on a weekly basis might help you fine-tune your marketing efforts rather than waiting until the last minute. Small adjustments made on a daily basis are far more manageable than large alterations.
Last question: “This goal for the fiscal year or calendar year?” Know how much time you have to achieve the objective. Some companies go by a different fiscal calendar versus a traditional calendar, so make sure you know how long you have to deliver the result.
The above framework is really just a simple checklist. But it ensures you have nailed all the key components for putting a successful strategy together.